Second-timers rush for three-room units in latest BTO exercise

They are heavily oversubscribed; but first-timers prefer bigger Punggol flats

Punggol's bigger flats proved to be the top draw for those looking for their first Housing Board home, when the latest Build- To-Order exercise closed last night.

But when it came to second- timers, it was the 306 three- room units in Bukit Batok and Sengkang that saw fiercer competition.

As 85 per cent of the flats in these non-mature towns were reserved for first-timers, it meant that the three-room units made available to second-timers were oversubscribed by more than 20 times.

The Housing Board had launched 3,898 flats across the three estates last week. Overall, there were about three applicants vying for each flat.

Property analysts told The Straits Times that those going for three-room units were likely older downgraders whose children have left. A mortgage cap introduced at the start of the year could also have deterred some applicants from seeking larger units, they added.

darylc@sph.com.sg