Stronger buyer response to first projects under prime location rules than for other BTO flats: Desmond Lee
About four in five buyers invited to take part in the selection exercise for the first Build-to-Order (BTO) flats under the Prime Location Public Housing (PLH) model at Rochor have booked their flats, which is higher than the average 60 per cent for most BTO projects.
As the Government prepares to unveil details of two more PLH projects, at Bukit Merah and Queenstown, property experts told TODAY that reasons for the stronger take-up of the Rochor flats included the prime location and the height of the housing blocks, at 47 storeys.
National Development Minister Desmond Lee wrote in a Facebook post on Monday (May 23) that there has been "good response" for the two PLH projects launched in November last year, River Peaks I & II, located in the Rochor area.
Mr Lee wrote: "We are in the midst of the selection exercise for the first PLH project at Rochor, River Peaks I & II. About 80 per cent of buyers who have been invited for the selection exercise thus far have proceeded to book their flats, higher than the average of 60 per cent for most BTO projects."
Owing to the strong response, the Housing and Development Board (HDB) will be launching two more PLH projects in the upcoming exercise.