Big demand for the bigger Bidadari flats
LARGE Housing Board flats in the upcoming estate of Bidadari once again emerged the star draw in the latest HDB sales exercise.
There were more than 3,000 applicants chasing 236 five-room and multi-generation flats in Bidadari's Alkaff Oasis project as of 5pm yesterday - the last day of the launch.
Of these, second-timer applicants were in the most competitive group, with over 91 applications for each flat set aside for them.
Property experts said the high pricing of Bidadari flats, would draw more second-timers - people who are buying their second flat directly from HDB - than first-timers.
"Second-timers are generally existing flat owners," said R'ST Research head Ong Kah Seng. "They can easily cash out by selling their flat and topping up to buy a Bidadari flat, which is quite pricey."
Prices for five-room flats in Alkaff Oasis start from $546,000 without grants.
The 93ha Bidadari estate, reclaimed from the former Bidadari Cemetery, is bounded by Bartley Road, Sennett Estate, Upper Serangoon Road and Mount Vernon Road.
When the first batch of Bidadari flats were launched last November, five-room units there were most in demand, with over 3,500 applicants chasing just 151 units.
In the latest sales exercise, flats in Sengkang's Anchorvale Plains proved more popular than those offered in the same area last November.
There were only 197 applicants for 192 five-room flats in Fernvale Woods in the November offering.
Five-room flats in Anchorvale Plains, by comparison, were oversubscribed by more than six times in the latest exercise. There were 775 applicants chasing 117 such units as of yesterday.
Chief executive of PropNex Realty Mohamed Ismail Gafoor puts it down to the project's "superior" attributes. "It is close to the Punggol park connector, has views of the Punggol reservoir and is less than 400m from the nearest LRT station," he said.
The latest launch also offered flats in Bukit Batok's West Plains, where the four-room flats were the most sought after. They were more than twice oversubscribed as of yesterday.
Among the two-room flexi flats on offer, those in Sengkang were more popular than Bukit Batok and Bidadari flats, with over 2,300 buyers going for 448 units.
Two-room flexi flats are open to all eligible buyers but they can come with shorter leases for those aged 55 and up.
Demand from non-elderly singles seemed to fuel this oversubscription, with 13 applicants for every flat set aside for them.