Thursday, August 13, 2009

Strong Demand For HDB's Build-To-Order Punggol Flats

Source : The Straits Times, Aug 13, 2009

APPLICATIONS for the build-to-order (BTO) Punggol Residences flats have been flooding into the Housing Board (HDB).

As at 5pm on Wednesday, the HDB had received 5,215 applications for the 769 flats on offer at the Punggol site.

This works out to a subscription rate of 6.7 times for the development, which comprises 615 four-room and 154 five-room flats. There were 3,609 applications for the four-room flats and 1,606 applications for the five-room units.

The deadline for applications is midnight on Aug 12.

Punggol Residences, situated at the junction of Punggol Walk and Punggol Field, is located within the precincts of the future Punggol Town Centre.

It is a five-minute walk from the Punggol MRT station and the bus interchange, while the Tampines Expressway is a short drive away.

The prices range from $264,000 to $322,000 for the four-room units and $344,000 to $409,000 for the five-room flats.

The prices are comparable to those at Punggol Regalia, a similar premium BTO project next to Punggol Residences, which was launched in December last year.

To date, the HDB has launched about 2,800 flats under the BTO system and, given the strong level of demand, is committed to stepping up its supply to 8,000 or more units. It is set to unveil another BTO project for Punggol later this month.

'The consistently high subscription rates for the BTO projects in Punggol Town are testament that the town has become a much sought-after place to live in,' the HDB spokesman said.

The HDB believes the launch of new BTO projects in Punggol will further contribute towards realising the 'Punggol 21-Plus' vision of a waterfront town for the 21st century.

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