SINGAPORE — Property analysts expect a significant drop in Build-to-Order (BTO) applications when new rules kick in from August that are designed to bring down the rate of homebuyers rejecting BTO flats offered to them.
from August that are designed to bring down the rate of homebuyers rejecting BTO flats offered to them.
“If I don’t select a flat, it will affect my chances of getting a home next time,” said Ms Nurul Hanan Zailani, a 24-year-old manager. While they were unable to give specific estimates, two other property analysts broadly agreed with Mr Lee’s prognosis. “Buyers will be more selective and take time to select the most suitable projects to apply to since they may risk not securing a unit on the second attempt,” she said.
“Since they intend to stay there for many years, they would want to choose the best unit in their view. To those with a genuine reason, they will feel aggrieved at this change,” he said. “Purchasing a house is no simple decision…The assumption of 'best case scenario' — such as low price, high availability of flat selection — shouldn't be taken as a likely outcome,” said Mr Gan.
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