In this recent sales activity in Singapore, the Urban Rise BTO project near Woodlands MRT station offered nearly 850 units for purchase. Surprisingly, the application rate for five-room units among first-time homebuyers reached 4, while second-time homebuyers had an even higher application rate of 61.5.

The Bukit Timah area, being a mid-range location, has also attracted widespread attention from homebuyers. The application rate for first-time homebuyers for four-room units was 2.8, and for second-time homebuyers, it was 12. This indicates that there is still demand for homebuying in mid-range locations, especially for those unrestricted by first-time purchase limitations.

However, in HDB projects in the prime locations of Redhill and Queenstown, the application rates for three- and four-room units among first-time homebuyers were less than one. Analysts suggest that this may be related to the affordability of homebuyers. For some high-priced units, homebuyers may find it challenging to afford, resulting in lower application rates.

In response to this situation, the government may consider whether there is a need to launch more pre-sale HDB activities in prime locations to meet market demand. Additionally, in the second half of the upcoming year, a new type of HDB, namely Optimal Location flats, will be introduced, expected to attract those waiting to purchase homes.

This year, approximately 24,500 HDB units were launched, with 22,800 being BTO units. According to the Housing and Development Board's statistics, the median waiting time for BTO flats is three years and ten months. This demonstrates that the demand for HDB flats among homebuyers remains robust.

The government is expected to launch around 4,100 units in the BTO sales activity in February next year. Analysts believe that in areas outside the city center, larger-sized HDB flats will continue to be popular among homebuyers.