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There's been a lot of talk about Build-To-Order (BTO) flats recently.
BTOs are the means through which many couples make their first foray into home ownership, and the "BTO proposal" has become, for better or worse, a milestone in many relationships.
But with increasing discontent centred around oversubscribed projects and long waiting times, the BTO has become one of Singapore's most controversial — and coveted — assets.
Yishun BTO empty for 8 years
One Mothership reader was aggravated to find a PropertyGuru listing of a Yishun flat completed in 2014, in what appeared to be its original BTO condition (including a still-plastic-wrapped toilet bowl).
The 1,206 sq ft 5-room corner flat at Yishun Street 51 was listed at S$690,000.
While the owners could not recall the exact purchase price for the unit, they estimated it was in the range of S$300,000 to S$400,000, the property agent told Mothership.
The unit was originally purchased by a couple, the agent said.
But when their business took a turn for the better, their family bought a landed property for everyone to stay in together, and the unit was abandoned.
The agent did not elaborate on why the unit is only being listed for sale now, but highlighted that the price is negotiable.
The unit's size and the recency of its completion means that it could be quite desirable.
As this unit is in its original condition, no hacking of existing furnishings would be required either, making its renovation potentially more affordable than other resale flats.
Mothership was able to access the listing on Property Guru on Friday (Dec. 16), though it appeared to have been taken down later in the day.
HDB occupancy requirement
According to the Housing and Development Board (HDB) website, flat buyers have to physically occupy their flat during the Minimum Occupancy Period, which is five years for BTO flats.
Thereafter, they can choose to acquire a private property and retain their flat.
Mothership has reached out to the agent for comment.
Top image via PropertyGuru.
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