Kallang Residences top favourite amongst November BTO launches

Over 50 Singaporeans are applying for one unit here.

As the November HDB BTO Launch Application closes, Propnex Realty noted that second-timers formed the main bulk of applicants this round.

These second-timers, it said, are primarily HDB upgraders and they favour the matured estates with the 4-room flats in Bedok and Kallang being the most popular at an application rate (for second timers) of 24.1 and 50.6 respectively.

"This is largely due to the smaller supply of 158 units in Kallang Residences and upgraders will require a bigger size of 4-room flat to accommodate their family and in the estate that they may have lived for a while," it said.

According to Propnex, the overall most popular launches are the 4-room in Kallang Residences and also the 4-room in Bidadari.

“Our earlier prediction of the overall application rate of 3 to 5 times for November 2016 still stands, taking into consideration of huge supply of 5,110 BTO units and 5,008 SBF units across 25 towns/estates that are released and the overall drop in application rate of 4.7 in February to 3.7 in May and 2.3 in August, ” remarked Mr Ismail Gafoor, CEO of PropNex Realty.