“Moderate to healthy” demand for Rochor BTO apartments under the new privileged zone model: analysts

FIRST MOVEMENT ADVANTAGE

Ms. Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, told CNA that the subscription rate for a four-room apartment in Rochor was “moderate to healthy.”

This rate may have been impacted by the long 71-month completion period – nearly six years – and the longer MOP.

Some applicants like the “prestige of living” near the city center and may want to own apartments that can “potentially enjoy good price appreciation in the long run”.

“Others may like the novelty of the whole PLH model and wish to have the first-mover advantage by being the pioneer lot in owning a PLH apartment,” she added.

Mr Lee Sze Teck, senior director of research at Huttons Asia, said the “huge potential gains” from the resale could “far exceed the restrictions” for those who have applied for an apartment in Rochor.

“As the policies for PLH apartments may be revised in the future to remain relevant, some applicants may have requested to enter first in case the policies are tightened,” Lee told CNA.

“Future PLH apartments are likely to remain popular because buying a property is all about location. A prime location will trump other factors.

The BTO four-room apartments in Rochor generated huge demand from second timer families, with 104.7 requests per apartment. On the other hand, the application rate of first-time applicants for such apartments was 5.3.

Buying a non-PLH apartment with a shorter construction time and MOP may be a “better option” for first-time couples in their late twenties who wish to see their apartment gain value. , with a view to modernizing it in the future, said Mr. Thomas Tan, COO of ERA Singapore.

“With the policy restrictions, PLH may well be more suited to the second-year-olds (late 30s / early 40s) who will buy it in preparation for retirement, with the convenience of a central location. This is probably the reason why the subscription prices of the latter are much higher, ”he added.


Source link

Comments are closed.