A total of 3,124 applicants tried to lay their hands on 70 four-room Build-To-Order (BTO) flats in Telok Blangah, resulting in one of the highest application rates in years.
This translates to 28 applicants vying for one unit, as at 5pm on May 31, 2021.
Expensive
The demand was high even though these Telok Blangah Beacon flats located in the mature estate of Bukit Merah are the most expensive units in the Housing Board's sales exercise this month.
Prices for these Telok Blangah four-room flats range from S$602,000 to S$710,000.
Their attractiveness stem from being close to the Greater Southern Waterfront development and located within walking distance of Telok Blangah MRT station.
Second-time applicants have to contend with tougher competition, with more than 412 applicants vying for each available unit.
Oversubscribed
The 105 three-room flats in Telok Blangah Beacon were also oversubscribed, with fewer than three first-time applicants competing for each unit.
Prices for these three-room flats range from S$419,000 to S$504,000.
Long wait
The competition is considered intense as buyers will also have to wait about six years for these flats, the longest wait in this launch.
The project is estimated to be completed in the first quarter of 2027.
The waiting time for a standard BTO flat was about three to four years before the Covid-19 pandemic.
The last time new flats were launched in Bukit Merah was eight years ago.
Previous popular BTO launch
The last BTO project that attracted such demand was in August 2020.
A total of 334 four-room flats in Geylang drew almost 15 applicants for each unit.
Other popular BTO project
The other BTO project in a mature estate was also popular.
The 1,010 four-room flats in MacPherson Weave in Geylang attracted four first-time applicants for each unit.
The 156 three-room flats attracted fewer than two applicants for each.
This month's sales exercise will conclude at 11.59pm on Monday, May 31, 2021.
Top photo via HDB