Twice as many applicants as Centrale 8 flats
The 708-unit Centrale 8 project in Tampines, has been twice oversubscribed despite record asking price.
Some industry observers expressed surprise at this performance. Analysts claim the two-times over-subscription looked credible, given the uproar over the price and the fact that most applications were put in before the price reduction.
The analysts claim that buyers will be prudent; if they are offered a flat above their budget and they will reject it. But other analysts believe the price cuts may well produce a much lower rejection rate, as applications had been submitted on the basis of the higher initial asking prices.
Dennis Wee Group director Chris Koh said the hype for DBSS flats has died down, but the application rate proves that demand for public housing remains strong, despite a high asking price.
Source : The Straits Times, 23 Jun 2011
| Back to Top |