The latest BTO Exercise by Housing Development Board shows that the bigger units are more popular compared to the smaller units and that Canberra Vista which is the latest development next to Canberra MRT Station is the most popular. Canberra Vista, the Build-To-Order (BTO) project in Sembawang, for instance, saw over 10 applicants applying 266 units of five-room and three-generation flats as well as the bigger 5 Bedroom flats. It is note that because of the location, smaller flats such as 285 four-room units, attracting over six applicants each looking to secure a home in the development. Please also see the developer for Penrose which is Guocoland. Penrose project details will be for launch soon.
It is not just in Sembawang. Toa Payoh HDB Launch, competition has also been stiff, with the 1,211 four-room flats offered receiving over 10,000 applications for each of the units. The four-room flat is the largest flat type offered in the two BTO projects – Toa Payoh Ridge and Kim Keat Ripples – in Toa Payoh. The location of the developments are very popular as it is located between Braddell and Caldecott MRT stations.
One of the reasons why BTOs remain popular in Singapore is also because of the pricing. Housing Board flat prices are overestimated by the public, and the majority of prospective flat buyers are willing to pay more than the current average prices because it is relatively newer and there are more facilities in the development. Many people thought that BTOs are more expensive than resale but the fact is that BTOs are fairly reasonable priced.