DEMAND for flats at The Peak @ Toa Payoh, a condo-like public housing, has been overwhelming.
When the developer closed its office at 6pm yesterday, there were already 2,900 applications for the 1,203-unit project.
This means there were roughly five applications for every two units. The final number might even be higher as electronic applications closed only at midnight last night.
The project at Lorong 1A Toa Payoh comes under the design, build and sell scheme (DBSS), and offers premium condo-like fittings.
This project by a Hoi Hup-led consortium is being sold by ballot. Unlike private condominiums, these projects do not have facilities such as swimming pools and gymnasiums.
Observers say the demand is surprising given that for the same price, buyers are spoilt for choice in the current lacklustre market.Source: Straits Times, 29 April 2009