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These flats are priced from S$579,000 and S$622,000 onwards respectively, excluding grants. Eugene Lim, key executive officer at ERA Realty said that since 95 per cent of the BTO flats in mature estates now have to be set aside for first-time buyers, many of them will apply for it as they have a higher chance of getting the flats despite the premium prices. “Bidadari … because it’s touted as the next Bishan,” he said, adding that the estate is “near to town, (and) HDB’s testing a lot of new technologies, green initiatives, design factors”, while the Geylang project’s distance from the Dakota MRT station, the Old Airport Road food centre, and the Central Business District makes it popular.   DEMAND FOR PROJECTS IN NON-MATURE ESTATES NOT AS HIGH Demand for the new flats in Bidadari and Geylang were much higher than the projects on offer in non-mature estates of Woodlands and Yishun. As of 5pm, the most popular project in the non-mature estates for three-room and bigger flats were the three-room flats at Woodlands’s Marsling Grove and Woodlands Spring, with an application rate of 1.8. As for Sale-of-Balance (SBF) launches, property analysts said that the units that will gather the most amount of interest will be the ones near mature estates, due to their locations. Those with a small number of units will also draw applicants who want to collect their keys soon, as it means the projects are already completed. However, SLP International’s head of research and consultancy Nicholas Mak noted that applicants are “faced with a lot of choices” if they were to apply for a SBF unit, and so the subscription rates for flats in popular areas such as Queenstown may not be as high as expected.

For the original version including any supplementary images or video, visit http://www.channelnewsasia.com/news/singapore/may-2017-bto-exercise-flats-in-bidadari-and-geylang-see-highest-8879890

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