Many events on the real estate market in Singapore managed to amaze the specialists, who expected to see significant changes due to the pandemic’s influence. The same happened with flats recently launched in Toa Payoh. The priciest HDB apartments of this November launch enjoyed the highest amount of attention from homebuyers. More precisely, the five-room flats of the new development got six times more applicants than expected. It appears that the elevated price tags for these spacious units didn’t discourage home seekers, who swarmed into making applications to get such a unit.
To the awe of everyone, the five-room HDB housing named Bartley Beacon, which is the new development launched in Toa Payoh, enjoyed a large deal of attention. How much does such a flat cost? Prices for these units vary between $627,000 and $726,000, without adding the grants that also have to be paid. Being the most generous apartments of the development, they were highly appreciated by applicants. There were four-room apartments available as well, but they only got three times the number of applicants for each unit, so they were slightly less popular.
Still, the three-room flats provided by Bartley Beacon and ParkView @ Bidadari were also highly desired. The number of applicants for these units exceeded the number of units available in both developments. Thus, most certainly each unit will find its owner once the applications will be examined. Another development in demand was Bishan Ridges. Its four-room apartments, 1,222 units in total, got five times the maximum number of applicants. Most certainly the nearby Bishan MRT station, which can be reached by foot in a few minutes, attracted a large number of homebuyers. However, the three-room units offered by the same development were less appreciated, as they barely got three times the maximum number of applicants.
Four and five-room apartments were highly sought-after in Tampines GreenEmerald as well. And, surprisingly, large flats available in Sembawang, which is still a non-mature residential area, enjoyed a lot of attention also. Tengah, which enjoyed its first new city in the past two decades, provided its share of four and five-room units. The five-room units got three times the number of applicants, while four-room units two times. All of these flats in Tengah will be available in Garden Court and Garden Terrace, which are planned to be completed at the beginning of 2024.
But, the series of launches will not stop just yet, as the month of February 2021, will bring 3,500 new BTO apartments. The HDB will launch these units in different locations, such as Toa Payoh, Bukit Batok, Kallang/Whampoa, and Tengah. And in May, of the same year, Tengah, Geylang, Bukit Merah, and Woodlands will enjoy 3,800 more units. Thus, the homebuyers that didn’t manage to find the ideal home this November should get ready for a new hunt in the coming year, as more opportunities are yet to come.
Learn more from the website below