Reports indicate that the BTO application rate for October 2023 was only 1.4 times, significantly lower than previous levels, a trend described as "disappointing." In this BTO sales event, there were a total of 9,848 applications competing for 6,800 available units, indicating relatively subdued demand for home purchases.

This downward trend has prompted reflections on homebuyer behavior and market factors.

Industry experts suggest that reasons contributing to the decline in the application rate may include homebuyers' uncertainty about the future trends of the real estate market and hesitancy in making home purchase decisions.

In addition, new regulations restricting buyers from simultaneously applying for multiple units may also be affecting the application rate.

Some experts anticipate that certain homebuyers may choose to wait for the BTO sales event in December. During that time, highly anticipated projects, such as those located in Bishan (Sin Ming) and Bukit Merah (Alexandra), are expected to be launched. Homebuyers hope that by waiting, they can increase their chances of securing an ideal housing unit.