BTO project in Punggol 6 times oversubscribed a day after launch
Source: Channel NewsAsia
The Housing and Development Board’s (HDB) latest Build-To-Order (BTO) project, Waterway Terraces in Punggol, is six times oversubscribed, just a day after applications opened.
Five-room flats are the most popular, receiving almost 1,800 applications for the 306 available flats.
Four-room and three-room units are also oversubscribed.
Four-room flats received 2,461 applications for 306 units, while 268 applications were received for the 178 available three-room units.
Waterway Terraces is Singapore’s first waterfront public housing project.
Industry watchers said they expect the project to be more than 10 times oversubscribed.
HDB’s other new BTO projects – Rivervale Arc and Fernvale Foilage, both in Sengkang – were less popular.
About half of the units in these projects received applications.
I refer to the quote “Waterway Terraces is Singapore’s first waterfront public housing project”. Sometime in 2005, it was in the papers that the public housing project at Bendemeer Rd now known as The Vista at Kallang was HDB’s first waterfront project.