Punggol, Clementi flats sees robust interest from buyers

Rating: 4.5 (out of 5)

 

shawn2Today Online reported that residential properties located in Punggol and Clementi area lured buyers’ high interest in first Build-To-Order sales exercise this year.

According to the figures released by the Housing and Development Board (HDB), 958 buyers applied for 5-room apartments in Punggol Northshore Cove, which is translated as 5.6 subscription rate. Interestingly, only 170 units are available at Punggol Northshore. Likewise, with a subscription rate of 4.2, 402 buyers applied for Punggol Waterway Sunrise. There are only 95 units available at Punggol Waterway Sunrise.

Similarly, at the subscription rate of 4.1, 2,894 buyers applied for two-room Flexi apartments at Punggol. Interestingly, only 713 two-room Flexi apartments are available at Punggol.

In the Clementi Peaks and Clementi NorthArc residential properties, buyers were more interested in buying 3Gen and five-room flats. For the 619 units available at these projects, 2,501 buyers showed interest in buying homes. The subscription rate for these 3Gen and five-room flats was 4.

The second-time buyers took more interest in these properties. For the each unit offered to the second-time buyers, there was overwhelming response of 31.1 applications.

Total 3,343 units with three-room and large flats were launched in the properties at Punggol, Tampines and Clementi. Quite contrast to the available units, whopping 11,001 buyers applied for purchasing properties, which had a subscription rate of 3.3.

More second-time buyers were interested in buying properties in these locations than the first time buyers. The ratio between the applications for the purchase and available units for the second time buyers was 1:12.2, which is 2.4 up from the ration of for first-time buyers

Total 4,056 flats were launched last week. This is the first in the series of flat launch set for 2017. Total 17,000 flats, spreading in six projects, will be launched this year.

These flats also offer Fresh Start Housing Scheme, according to with the first time families can also apply for the flats. This scheme is aimed at helping second-time families, who are living with kids in public rental flats, own a flat again.

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