Fewer buyers ask to cancel BTO flat bookings in past 2 years compared with pre-Covid-19 years

In 2020 and 2021, an annual average of about 3,640 buyers requested to cancel their BTO flat applications, which is lower than the annual average of about 4,020 in 2018 and 2019. PHOTO: LIANHE ZAOBAO
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SINGAPORE - Fewer home buyers requested to cancel their Build-To-Order (BTO) flat applications in 2020 and 2021, despite facing a longer wait for the flats, compared with pre-Covid-19 years.

The hot HDB resale market, which saw prices rise by about 15 per cent since the first quarter of 2020 to the end of 2021, could have been one of the key reasons for fewer  cancellations as some buyers opted for the "safe and affordable" BTO route, property analysts told The Straits Times.

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