- Urban Rise @ Woodlands: Four-time applicants are competing for each of the 260 five-room flats, making it one of the most sought-after options in the non-mature estate.
- Sin Ming Residences: In the mature estate of Bishan, the four-room flats here attracted 2.8 first-time applicants for each unit. This is the first new launch in the area since 1988.
Strategic Locations and Amenities
- Proximity to MRT and Facilities: The high demand for the Woodlands and Sin Ming projects is partly due to their strategic locations near MRT stations and other amenities.
- Comparative Advantage: The popularity of these locations is further emphasized when compared to other options in the same exercise.
Application Rates and Trends
- Lower Than Pandemic Peaks: The median application rates for these BTO projects are significantly lower than the highs recorded during the COVID-19 pandemic.
- Alignment with Pre-Pandemic Levels: These rates are more in line with pre-pandemic levels, indicating a normalization in the housing market.
Reduction in Waiting Period
- Improved Waiting Times: Approximately 70% of the BTO units launched in 2023 have waiting periods of not more than four years, showcasing an improvement over the past five years.
- Future Outlook: The HDB aims to continue this positive trend with launches that have even shorter waiting periods in the upcoming year.
Also learn about 6,000 Homes to be Built on Pearl’s Hill, Including First New HDB Flats There in Over 40 Years.
