Introduction
Fiftten BTO projects with about 8,570 flats will be launched in October 2024. Among these projects, we expect seven of the projects to be more popular than the others due to their proximity to transportation nodes, town centre, scarcity and availability of Shorter Waiting Time (SWT) flats.
Why these BTO projects will be more popular?
The two BTO projects at Pasir Ris are located about a 5-minute walk to the Pasir Ris MRT Station and despite their close proximity to the Pasir Ris town centre, they are classified as Standard flats, instead of Plus flats. Hence, they are expected to be popular with BTO applicants.
The two BTO projects at Sengakang are also expected to be popular with homebuyers due to pent-up demand because there was no new BTO project launched in Sengkang for about 5 years. Furthermore, there are Shorter Waiting Time flats in the two BTO projects in Sengkang. Successful application can expect to get the keys to the flats in less than three years, which will increase the attractiveness of the Sengkang BTO projects. The more popular BTO projects are listed in the table below.
Table 1: BTO projects that are expected to be more popular with homebuyers
HDB towns of BTO projects | BTO project | Nearest MRT/LRT Station | Est. distance to MRT Station (metres) | No. of Flats. | Actual classification |
Bedok | Kembangan Wave | Kembangan | 50 | 348 | Plus |
Pasir Ris | Costa Riviera 1 | Pasir Ris | 320 | 276 | Standard |
Pasir Ris | Costa Riviera 2 | Pasir Ris | 320 | 491 | Standard |
Geylang | Merpati Alcove | Mattar | 50 | 433 | Plus |
Kallang / Whampoa | Crawford Heights | Lavender | 300 | 312 | Prime |
Sengkang | Fernvale Sails | Layar LRT | 180 | 545 | Standard |
Sengkang | Fernvale Oasis | Thanggam LRT | 200 | 851 | Standard |
Source: Mogul.SG Research, HDB
Kembangan Wave and Merpati Alcove are situated almost next to their respectice nearest MRT stations. The close proximity to the MRT stations will draw homebuyers to these projects.
Lastly, Crawford Heights is located within a few minutes' walk to the Lavender MRT station, which is only three stations from Raffles Place, at the heart of the financial district. Although it is a Prime project with more restrictions, it would not deter BTO applicants because there are a few differences in the sales conditions between Plus and Prime flats.
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