The first round of sales events has passed its halfway mark, drawing attention to the performance of remaining flat sales for the year. In particular, the two-room flexi units in the Sengkang area have been warmly welcomed by singles buying their first homes, with 363 applicants for each unit. The pre-order and remaining flat sales events began on February 21st and will continue until the 28th, with a total of 4,126 pre-ordered flat units and 1,588 remaining flat units available for subscription.

Demand for two-room flexi units in the Sengkang area's three projects is very strong. The subscription rate for singles buying their first homes is as high as 363, 23 for second-time homebuying families, and 13.8 for elderly individuals. This observation aligns with the views of Sun Yanqing, Chief Research and Strategic Director of OrangeTee Group, who believes that Sengkang, as a new town, is attractive to young buyers. Additionally, many young couples live in Punggol, and their elderly parents may also want to move nearby, contributing to the high subscription rates.

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In terms of pre-ordered flats, the most popular project is the four-room units at Tanjong Tree Residences @ Hougang, which has received 369 applications. Other popular projects include the prime location flats at Queenstown East Ling Fu and the five-room units at Bedok North Springs. The subscription rates for second-time homebuying families for these two projects are 36.9 and 28.0, respectively.

Although this round of sales events offered units of various flat types, the overall subscription rate remains relatively high. Analysts attribute this to the reduced number of sales events and the limited number of units available. Ma Junrong, Chief Research Officer of PropNex Realty, shares the same view, believing that the reduced number of units in this round of sales events would lead to higher subscription rates even if the number of homebuyers remains the same.

With the new HDB flat allocation framework set to be implemented in October, some homebuyers may prefer to prioritize applying for units in better locations before the implementation. However, current data shows no significant increase in subscription rates, and an accurate assessment will only be possible after the sales events end. Nonetheless, some homebuyers may prefer to wait for the units to be launched in the second round of sales events in June, especially for projects in Tampines and Tanjong Pagar, which are expected to be highly sought after.