Thursday, July 1, 2010

BTO project in Punggol 6 times oversubscribed a day after launch

The Housing and Development Board’s (HDB) latest Build-To-Order (BTO) project, Waterway Terraces in Punggol, is six times oversubscribed, just a day after applications opened.

Five-room flats are the most popular, receiving almost 1,800 applications for the 306 available flats.

Four-room and three-room units are also oversubscribed.

Four-room flats received 2,461 applications for 306 units, while 268 applications were received for the 178 available three-room units.

Waterway Terraces is Singapore’s first waterfront public housing project.

Industry watchers said they expect the project to be more than 10 times oversubscribed.

HDB’s other new BTO projects – Rivervale Arc and Fernvale Foilage, both in Sengkang – were less popular.

About half of the units in these projects received applications.

Source: Channel News Asia, 1 Jul 2010

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