Many Singaporeans have relied on the home & Development Board’s (HDB) Build-To-Order (BTO) program as a means to an end—affordable home. With only a small number of apartments like Affinity at Serangoon available, the four annual BTO exercises are sure to be a spectator sport.
Because they are priced cheaper than the current high resale market rates, these Affinity site plan are incredibly sought after. It is worth taking a deeper look at the intriguing changes in application trends that have occurred since the BTO debut in October 2023.
Current tendencies in BTO implementations
Application rates for the Affinity at Serangoon Floor Plans launch in October 2023 were significantly lower than for earlier launches, which is in sharp contrast to how popular they had been. There was a marked decline in applications for popular unit types including 4-room and 5-room flats in estates like Serangoon North Vista during the May 2023 BTO launch, in contrast to the current situation.
In 2023, the Minister of National Development announced additional penalties for applicants who reject their BTO votes. This policy is seen by experts to be the cause of the decrease in applications. Some may have been discouraged from applying due to this policy’s intention of excluding insincere candidates. The December 2023 BTO debut may be on the minds of others.
Steps to apply for a BTO flat
A valid HDB Flat Eligibility (HFE) letter will be needed of all prospective BTO applicants starting from October 2023. The BTO apartment, CPF Housing Grant, and HDB loan eligibility evaluations are all included in this letter.
Applicants are encouraged to submit their HFE letter requests at least 30 days before the desired BTO launch to account for processing delays on the HDB Flat Portal. Applicants could also look at historical BTO prices and trends to improve their apartment-hunting prospects.