Nov 2022 Queenstown BTOs having very low application rates. What am I missing here?

It's already noon of the last day (30th Nov) before the Nov 2022 BTO applications close, and despite the longer 9 days open application window, the Queenstown project looks to be getting a lot less demand than other PLH sites. With 4-room only at 1.1x application rate (only referring to 1st timer applications) and 3-room at 0.2x.

The location seems pretty good right beside Dover MRT and is close to JE and Buona MRT stations for transfer to the NS/Circle lines. Amenities also seem to be plenty at Clemeni and Gim Moh nearby.

Question 1: Why is the application rate this low for this estate? Am I missing some obvious issues here? Or do people think that Ghim Moh Natura and Ulu Pandan Banks should not be PLH projects?

Quesiton 2: What are the chances that some projects don't get built because there's too little demand? e.g. 3-room has 587 units but only 398 as of 12pm 30th Nov

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Just_Saying

02 Dec 2022

Seems like this will impact more on future releases rather than current BTO. Perhaps they will consider rolling out less 3-rooms and more 4/5-rooms in future BTOs.

For this current BTO exercise, i heard that they have grouped the 3 BTO projects within one single balloting as Queenstown. Not sure how certain will you be allocated to the 2 projects near dover and bounavista mrt?

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Justin

01 Dec 2022

Content Strategist at Seedly

1: Wondering myself too

2: There's already BTO backlog so I think there is a high chance it will still get built.

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