{"id":71711,"date":"2023-12-13T17:55:59","date_gmt":"2023-12-13T09:55:59","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=71711"},"modified":"2023-12-13T17:55:59","modified_gmt":"2023-12-13T09:55:59","slug":"analysis-december-bto-exercise-application-rates","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/analysis-december-bto-exercise-application-rates\/","title":{"rendered":"Analysis: Overall muted demand for December BTO exercise (application rates, demand factors, &#038; specific project appeals)"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\r\n<p><span style=\"font-weight: 400;\">In the latest <a href=\"https:\/\/www.99.co\/singapore\/insider\/hdb\/hdb-bto\/\" target=\"_blank\" rel=\"noreferrer noopener\">BTO (Built-To-Order)<\/a> exercise held on December 5, the Housing and Development Board (HDB) launched <a href=\"https:\/\/www.99.co\/singapore\/insider\/december-2023-bto\/\" target=\"_blank\" rel=\"noreferrer noopener\">6,057 new flats for sale across seven towns in Singapore<\/a>. These towns include Bedok, Bishan, Bukit Merah, Queenstown, Bukit Panjang, Jurong West, and Woodlands. This initiative aimed to address the growing housing demand in various parts of the city-state. <\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In this article, we break down the December BTO exercise for an in-depth analysis of its projects performances.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\"><strong>Application numbers<\/strong><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">As of December 11, a total of 12,235 applications have streamed in for these newly offered flats, marking an application rate of 2.0 times. This figure slightly surpasses the application rate recorded in the <a href=\"https:\/\/www.99.co\/singapore\/insider\/lowest-application-rates\/\" target=\"_blank\" rel=\"noreferrer noopener\">October 2023 BTO exercise, which was at 1.6 times<\/a>.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">However, these numbers are more restrained compared to previous launches between February 2021 and May 2023, which saw rates ranging from 2.5 to 8.1. <\/span><a href=\"https:\/\/www.businesstimes.com.sg\/property\/first-timers-median-application-rate-below-one-december-bto-exercise\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span style=\"font-weight: 400;\">The muted response to the December BTO exercise suggests a stabilisation in demand for new public housing.<\/span><\/a><\/p>\r\n<p style=\"border: 2px solid black; padding: 10px;\">Learn more about the projects offered during the recent exercise here: <a href=\"https:\/\/www.99.co\/singapore\/insider\/december-2023-hdb-bto-launch-overview-woodlands-queenstown-bukit-merah-bedok-bishan-bukit-panjang-and-jurong-west\/\" target=\"_blank\" rel=\"noreferrer noopener\">December 2023 HDB BTO launch overview: Woodlands, Queenstown, Bukit Merah, Bedok, Bishan, Bukit Panjang, and Jurong West<\/a><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong>Comparison with previous BTO exercises<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">In contrast to the elevated application rates seen in recent years, the December BTO exercise has shown a decrease in demand. Analysts attribute this decline to the implementation of <a href=\"https:\/\/mothership.sg\/2023\/03\/stricter-rules-bto-non-selection\/#:~:text=What%20are%20the%20new%20rules,timer%20category%20for%20subsequent%20applications.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">stricter non-selection rules since the October launch<\/a>.\u00a0<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">These rules aim to provide a more accurate representation of genuine BTO demand, sifting out applicants applying merely to test their luck.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<figure class=\"wp-block-image alignnone\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2023\/12\/Bishan_Sin_Ming_Residences_December_2023_HDB_BTO_launch_overview.jpg\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" width=\"1200\" height=\"900\" class=\"wp-image-71536\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2023\/12\/Bishan_Sin_Ming_Residences_December_2023_HDB_BTO_launch_overview.jpg\" alt=\"Bishan Sin Ming Residences - December 2023 HDB BTO launch overview\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2023\/12\/Bishan_Sin_Ming_Residences_December_2023_HDB_BTO_launch_overview.jpg 1200w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2023\/12\/Bishan_Sin_Ming_Residences_December_2023_HDB_BTO_launch_overview-150x113.jpg 150w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a>\r\n<figcaption class=\"wp-element-caption\">Image credit: HDB<\/figcaption>\r\n<\/figure>\r\n<p>\r\n\r\n<\/p>\r\n<h2 class=\"wp-block-heading\"><strong>BTO projects in different locations<\/strong><\/h2>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Let&#8217;s get into specific BTO projects across various locations:<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/woodlands\" target=\"_blank\" rel=\"noreferrer noopener\">Woodlands<\/a> projects <span style=\"font-weight: 400;\">\u2013 <\/span> Woodlands Beacon and Urban Rise @ Woodlands<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Five-room flats in Woodlands received a high application rate of 6.9 times, with 1,783 applications for the available 260 units. Overall, Woodlands projects garnered an application rate of 4.1 times for 1,247 flats.\u00a0<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 id=\"h-bishan-project-sin-ming-residences\" class=\"wp-block-heading\"><b><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/bishan\">Bishan<\/a><\/b><strong> project <span style=\"font-weight: 400;\">\u2013 <\/span>Sin Ming Residences<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">The BTO project in Bishan achieved the second-highest application rate at 3.0 times for the 732 flats launched. Four-room flats in Sin Ming were particularly popular among first-timer families.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Read more:<\/strong>\u00a0<a href=\"https:\/\/www.99.co\/singapore\/insider\/bigger-flats-preferred-october-bto-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why first-time homebuyers in Singapore are opting for bigger flats in the October BTO exercise<\/a><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 id=\"h-bukit-merah-and-queenstown-plh-model-projects-alexandra-peaks-and-ulu-pandan-vista\" class=\"wp-block-heading\"><b><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/bukit-merah\" target=\"_blank\" rel=\"noreferrer noopener\">Bukit Merah<\/a><\/b><strong> and <a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/queenstown\" target=\"_blank\" rel=\"noreferrer noopener\">Queenstown<\/a> (PLH Model) projects <span style=\"font-weight: 400;\">\u2013 <strong>Alexandra Peaks and Ulu Pandan Vista<\/strong><\/span><\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Projects following the <a href=\"https:\/\/www.99.co\/singapore\/glossary\/prime-location-public-housing-plh-model\/\" target=\"_blank\" rel=\"noreferrer noopener\">Prime Location Public Housing (PLH) model<\/a> in Bukit Merah and Queenstown obtained overall application rates of 1.3 times and 1.0 times, respectively. Alexandra Peaks in Bukit Merah saw a first-timer application rate below one for three- and four-room flats, as did Ulu Pandan Vista in Queenstown.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Read more:\u00a0<\/strong><a href=\"https:\/\/www.99.co\/singapore\/insider\/hdb-bto-classification\/\" target=\"_blank\" rel=\"noreferrer noopener\">HDB BTO classification: Between Standard, Plus, &amp; Prime flats<\/a><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><iframe loading=\"lazy\" style=\"border: none; width: 350px !important; box-shadow: 0px 2px 12px rgb(11 17 52 \/ 15%); border-radius: 16px;\" src=\"https:\/\/www.99.co\/property-value-widget?contentSource=insider-blog&amp;contentId=the-arden-sale-units\" width=\"350\" height=\"370\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/span><\/iframe><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 id=\"h-bedok-project-chai-chee-green\" class=\"wp-block-heading\"><b><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/bedok\" target=\"_blank\" rel=\"noreferrer noopener\">Bedok<\/a><\/b><strong> project <span style=\"font-weight: 400;\">\u2013 <\/span>Chai Chee Green<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">The Bedok project received an overall application rate of about 1.1 times for the 1,234 units offered. Notably, the first-time application rate for five-room flats at Chai Chee Green in Bedok was one, and rates were below one for three-room and four-room units. For community care apartments, the first-time application rate was below one for the 250 units.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 id=\"h-bukit-panjang-and-jurong-west-projects-petir-park-edge-and-jurong-arcadia\" class=\"wp-block-heading\"><b><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/bukit-panjang\" target=\"_blank\" rel=\"noreferrer noopener\">Bukit Panjang<\/a><\/b><strong> and <a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/jurong-west\" target=\"_blank\" rel=\"noreferrer noopener\">Jurong West<\/a> projects \u2013 Petir Park Edge and Jurong Arcadia<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Overall application rates stood at 1.9 times for Bukit Panjang and 1.2 times for Jurong West. Notably, projects in these areas had first-timer application rates below one.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong>Outlook and first-timer applicants<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">The subdued response to the December BTO exercise implies a favourable scenario for first-timer applicants. With application rates below one for certain flat types across several projects, first-timers stand a high chance of securing a BTO flat in this exercise.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Read more:\u00a0<\/strong><a href=\"https:\/\/www.99.co\/singapore\/insider\/bto-classification-changes\/\" target=\"_blank\" rel=\"noreferrer noopener\">BTO classification changes: Impact on first timers &amp; singles<\/a><\/p>\r\n    <section id=\"portal-widget-tab-panel-6a6012a5d01a5\" class=\"portal-widget-tab-panel\">\n        <div class=\"swiper-container\" id=\"swiper-container-6a6012a5d01a5\">\n                        <div class=\"row-title-widget\">\n                <div class=\"portal-widget-carousel-title-left\"><h4 class=\"portal-widget-title\">Looking for HDB resale properties instead? <\/h4><\/div>\n                <div class=\"portal-widget-carousel-title-right text-right\"><span class=\"portal-widget-see-all-link link-top\"><a href=\"\" class=\"nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/hdb?utm_source=blog&utm_medium=widget\">See all listings<\/a><\/span><\/div>\n            <\/div>\n                        <div class=\"portal-widget-carousel swiper-wrapper\">\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/whfQVdhG9kk68hmb7npBze?text=Teddy+Juay&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=e3c5cbdc9b92f79e2106c6f407474277c36cfc40\" alt=\"Rv Edge Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Rv Edge<\/div>\n                            <div class=\"card-text card-subtitle\">2 Shanghai Rd \u00b7 D10<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>1<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>1<\/span>\n                                <\/div>\n                                <div >\n                                    <span>463 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 999,999<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/rv-edge-condo-hWMp5vawByMNzMCPiGbUHx?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/5oCgZzqcuAeDuiBkMahzqW?text=Angelina+Tan&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=54c781c70b037d4a1837154aeee0bffa46ac8c9a\" alt=\"Sembawang Straits Estate Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Sembawang Straits Estate<\/div>\n                            <div class=\"card-text card-subtitle\">Jln Sankam \u00b7 D27<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>5<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>5<\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,771 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 6,200,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/jalan-sankam-landed-3rywodtFMQTwno4t2eSDaz?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/CPBWB6byRZgj7yNnXyJ9Jg?text=Eileen+Teoh&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=f922c70476b05cc2ff71f99a3303077335ed4cd1\" alt=\"The Woodleigh Residences \/ The Woodleigh Mall Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">The Woodleigh Residences \/ The Woodleigh Mall<\/div>\n                            <div class=\"card-text card-subtitle\">33 Bidadari Pk Dr \u00b7 D13<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>4<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,270 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 3,850,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/the-woodleigh-residences-the-woodleigh-mall-condo-iVCGPz5trt52UUEiEqs8Xq?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/fKSwpPwEBWVDcCAnxggzGo?text=Stephen+Yeo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=ea8a0316f812b257a3b0af43c6733f0e69cfe614\" alt=\"Bayville Condo Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Bayville Condo<\/div>\n                            <div class=\"card-text card-subtitle\">42 Sth Buona Vista Rd \u00b7 D5<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,238 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 2,000,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/bayville-condo-condo-GgLgNw3CkYQBvJm82ZdstR?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/HxYXmGvPxBbeovSGMFuAC8?text=Ridhuan+Abdullah&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=a62c9a81568ed0bacda603f8ffa31d4324bb7c85\" alt=\"839 Yishun Street 81 Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">839 Yishun Street 81<\/div>\n                            <div class=\"card-text card-subtitle\">Singapore 760839 \u00b7 D27<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,108 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 585,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/839-yishun-street-81-hdb-S8PnqGZQRmtE4USrfpp6JM?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/LmetVyg5ccX3ucpjDSYTVe?text=Chris+Zainal&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=2cfe00aa7758297fca311219aefae2604b6cacbe\" alt=\"231 Serangoon Avenue 3 Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">231 Serangoon Avenue 3<\/div>\n                            <div class=\"card-text card-subtitle\">Singapore 550231 \u00b7 D19<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,119 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 770,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/231-serangoon-avenue-3-hdb-VXZV8ZcxEBT38egiZyRAeY?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/Suxw3ysjxXTs3VpCu3qy4d?text=TAN+SIONG+WEI&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=ab9fae58902a3285972f2860216a3574d43dc35a\" alt=\"Zenith Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Zenith<\/div>\n                            <div class=\"card-text card-subtitle\">60 Zion Rd \u00b7 D10<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <span>2,455 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 4,238,888<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/zenith-condo-XLjmYp3jW8FSGVc8fL293j?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/bUgdARrvWfXnSrzzAodB3h?text=Sandy+Lim&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=15504a48bbd6c8219d2c7a8cee5a534daa8d16e4\" alt=\"The Jovell Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">The Jovell<\/div>\n                            <div class=\"card-text card-subtitle\">19 Flora Dr \u00b7 D17<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <span>904 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 1,350,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/the-jovell-condo-UFAEYFuQDtCx9JqAEAMUau?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/3VCvPUYG4S3WECBMoXmZZD?text=Sharon+Kee&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=2daf0b6d683588271a10d41824129adffd8e932a\" alt=\"22 Sin Ming Road Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">22 Sin Ming Road<\/div>\n                            <div class=\"card-text card-subtitle\">Singapore 570022 \u00b7 D20<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>3<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <span>732 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 360,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/22-sin-ming-road-hdb-QB8fQiQ3yUYeZFsTmkaau7?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/z9XKt5FwFhepV8GoFYua4W?text=Herbert+Benard&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=eeca5168533071679e557879bad2d65a677c182a\" alt=\"Novena Regency Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Novena Regency<\/div>\n                            <div class=\"card-text card-subtitle\">275 Thomson Rd \u00b7 D11<\/div>\n                            <div class=\"card-text card-room\">\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span>2<\/span>\n                                <\/div>\n                                <div >\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span>1<\/span>\n                                <\/div>\n                                <div >\n                                    <span>646 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 1,540,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/property\/novena-regency-condo-LUyNQnsroPJP9BQa7uAHHQ?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                            <\/div>\n            <!-- Add Arrows -->\n            <div class=\"swiper-button-next\"><\/div>\n            <div class=\"swiper-button-prev\"><\/div>\n                    <\/div>\n    <\/section>\n\r\n<p>\r\n\r\n<\/p>\r\n<h2 class=\"wp-block-heading\"><strong>Factors affecting specific projects<\/strong><\/h2>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.straitstimes.com\/singapore\/housing\/woodlands-sin-ming-flats-most-popular-among-first-timers-in-december-bto-exercise?login=true\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Several factors influenced the appeal and application rates of specific projects<\/a> in the December BTO exercise:<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong>Location<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Woodlands projects, owing to their proximity to the <a href=\"https:\/\/www.99.co\/singapore\/sale\/mrts\/woodlands\" target=\"_blank\" rel=\"noreferrer noopener\">Woodlands MRT station<\/a> and town centre, witnessed heightened demand. Additionally, the perception of these projects as equivalent to Plus flats under the new flat classification system in H2 2024 may have also driven current demand.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong>Waiting time<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">The BTO project in Bishan, with a waiting time of less than three years, seems to have attracted a high overall application rate. On the other hand, the PLH flats, including Alexandra Peaks in Bukit Merah and Ulu Pandan Vista in Queenstown, have a longer completion time of about four years and 11 months. This longer duration may have contributed to lower application rates for these projects.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h3 class=\"wp-block-heading\"><strong>Subsidy clawbacks and resale restrictions<\/strong><\/h3>\r\n<p>\r\n\r\n<\/p>\r\n<p><span style=\"font-weight: 400;\">Projects in Bukit Merah and Queenstown, operating under the PLH model, faced lower application rates. Unlike the Bishan project, these PLH projects are subject to subsidy clawbacks (now standing at 8%) and resale restrictions (10-year MOP). Analysts think these factors may have tempered their appeal.<\/span><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<p><strong>Read more:<\/strong>\u00a0<a href=\"https:\/\/www.99.co\/singapore\/insider\/plh-prime-location-public-housing-model-hdb\/\" target=\"_blank\" rel=\"noreferrer noopener\">HDB PLH: What you need to know about the Prime Location Public Housing Model<\/a><\/p>\r\n<p>\r\n\r\n<\/p>\r\n<h2 class=\"wp-block-heading\"><strong>Did you participate in the December BTO exercise? Share your project of choice down below or on <a href=\"https:\/\/www.facebook.com\/99dotco\" target=\"_blank\" rel=\"noreferrer noopener\">our Facebook page<\/a>. <\/strong><\/h2>\r\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>In the latest BTO (Built-To-Order) exercise held on December 5, the Housing and Development Board (HDB) launched 6,057 new flats for sale across seven towns in Singapore. These towns include Bedok, Bishan, Bukit Merah, Queenstown, Bukit Panjang, Jurong West, and Woodlands. This initiative aimed to address the growing housing demand in various parts of the&hellip;<\/p>\n","protected":false},"author":141,"featured_media":71536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"59689,71095,66051,55419,66033,36790","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"no","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53631,53642,57131],"tags":[58232,58231,58233,58230,58237,58287,58288,58082,53924,58228,58227,58229,56602,58224,58225,58236,58235,58226,58238,58234],"persona":[57125,57127,57126,57128],"class_list":{"2":"type-post","34":"entry","35":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analysis: Overall muted demand for December BTO exercise- 99.co<\/title>\n<meta name=\"description\" content=\"Explore the latest HDB BTO exercise in December 2023, analysing application rates, demand factors, and specific project appeals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/insider\/analysis-december-bto-exercise-application-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysis: Overall muted demand for December BTO exercise (application rates, demand factors, &amp; 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