Battle of BTOs: Which May project performed best?

There were three BTO projects launched in May.

The Serangoon BTO performed best amongst all projects launched in May, garnering more than nine applicants for each 4-room flat and more than 13 applicants for 5-room flats.

According to Lee Sze Teck, Huttons’ senior director of research, the beyond-expectations application for the project could be “due to pent-up demand as there had not been a BTO in Serangoon for more than 10 years.”

“First-timer families who want to stay with their parents rushed for this rare BTO. There are seldom 5-room flats offered in mature estates hence there were many applicants,” Lee said.

“A 5-room flat offers space for hybrid work as well as for a growing family. The Bedok 5-room flats saw a good application rate too,” he added.

Other BTO projects launched in May performed “within expectations.”

“The Kallang/Whampoa PLH BTO application rate is similar to other PLH projects,” Lee commented.

Meanwhile, the two Tengah BTOs saw more than 5,000 applicants for the 3-, 4- and 5-room flats. 

“This is much higher than Nov 2022 Garden Waterfront I&II BTO. This could be due to the proximity to ACS (P) and Tengah Town Centre,” Lee said.