SINGAPORE: The ongoing Build-to-Order (BTO) sales exercise for February has drawn 14,052 applications as of 5pm on Wednesday (Feb 11), with the projects in Tampines attracting the most applications.
The first BTO exercise of the year began on Feb 4 and runs until 11.59pm on Wednesday. The final numbers will be published at 2pm on Thursday.
In total, 4,692 flats were launched across six projects in Toa Payoh, Bukit Merah, Sembawang and Tampines.
Tampines was the most sought-after estate, with 337 four-room flats attracting 3,260 applicants, recording an application rate of 6.8 for first-timer families and 35.8 for second-timer families.
The town had two projects in the February sales exercise. Tampines Bliss is classified as a Standard project, while Tampines Nova is classified as a Plus project.
An artist's impression of Tampines Bliss, which will offer three- and four-room flats with a wait time of one year and 11 months. (Image: Housing and Development Board)
Ms Christine Sun, chief researcher and strategist of Realion (OrangeTee & ETC) Group, said the results align with expectations that the town would be the most popular.
“Tampines Nova is situated right at the heart of Tampines Central, and such plum sites are rare, given the scarcity of land for new development in the Tampines Central area,” she said, adding that the preschool integrated within the development is a “unique feature”.
Both projects have shorter waiting times of under three years: Tampines Bliss will have a wait time of one year and 11 months, while Tampines Nova is expected to have a wait time of two years and eight months.
For 122 two-room flexi flats in Tampines Nova, the demand was especially high, drawing 2,481 applicants.
The application rate for first-timer singles was 111.4, which means that around 111 people are competing for each flat.
An artist's impression of Sembawang Deck, which will offer two-room Flexi to five-room flats with a wait time of two years and nine months. (Image: Housing and Development Board)
The projects in Sembawang were less popular, despite being the only projects to offer five-room flat types this round.
Both projects – Sembawang Deck and Sembawang Voyage – are classified as standard projects.
There were 432 applicants for 662 five-room flats, and 637 applicants for 725 four-room flats. The application rates for first-timer families are 0.4 and 0.6 respectively.
Three-room flats at Sembawang Deck had a slightly higher application rate, at 1.3 for first-timer families. In total, there were 220 applicants for 84 such flats.
Sembawang Deck is a shorter waiting time project, with an expected wait time of two years and nine months.
Mr Eugene Lim, the key executive officer at ERA Singapore, said the moderated response is likely reflective of Sembawang North’s status as an emerging estate, where amenities are still being developed.
"Moreover, with more flats scheduled to launch in Sembawang during June 2026’s BTO exercise, buyers may have seen little urgency to apply this round due to ample supply," he said.
"The BTO project in Woodlands slated for June may have also prompted buyers to hold off, given its location in a more attractive and mature town also in the north."
An artist's impression of the Redhill Peaks BTO project. (Image: HDB)
While Bukit Merah is normally a popular estate due to its proximity to the city and status as a mature estate, its sole project in February had a “relatively lukewarm response”, said Mr Lim.
Redhill Peaks, the only Prime project this round, drew 1,982 applicants for 593 four-room flats and 225 applicants for 91 three-room flats. The application rates for first-timer families were 2 and 0.7 respectively.
Mr Lim said the measured demand could be due to the large number of BTO projects on offer in recent times, including the highly anticipated Berlayar Residences.
“With such a high saturation of BTO supply in Bukit Merah recently, there could be (fewer) people in the market for a new home in the estate,” he said.
He added that buyers who were unsuccessful in securing a unit in Berlayer Residences last October are likely to be waiting for the next opportunity in the same precinct, rather than applying for the current Redhill Peaks project.
Meanwhile, Kim Keat Crest, a Plus project in Toa Payoh, recorded 967 applicants for 787 four-room flats and 152 applicants for 87 three-room flats. The application rates for first-timer families were 0.8 and 0.6 respectively.
Ms Sun said the relatively low application rates suggest “some market saturation and slower demand” for the area.
Earlier launches, such as Toa Payoh Ascent and Mount Pleasant Crest, had drawn stronger interest due to their proximity to the MRT station. However, Kim Keat Crest is primarily accessible by bus, she noted.
Based on the Housing and Development Board’s (HDB) latest figures, the median application rate for three-room and bigger BTO flats among first-timer families stood at 0.8.
That number is lower than the three BTO exercises in 2025, which saw rates of 1.1 for February, 1.4 for July and 1.9 in October.
In a Facebook post on Wednesday evening, Minister for National Development Chee Hong Tat said: “As application rate is the number of applicants divided by the number of units available, a lower rate means higher chances of success for the applicants.”
With application rates for first-timer families easing below one, and the median income of households rising above S$12,000 per month, it may be timely to consider adjusting the income ceiling for BTO upwards, Huttons’ Mr Lee said.
In September last year, Senior Minister of State for National Development Sun Xueling said in parliament that the income ceiling for BTO flat buyers can be raised when the “right conditions are in place”.
The BTO income ceiling was last revised in 2019. It is currently S$14,000 for couples and families.
About 6,900 flats across Ang Mo Kio, Bishan, Bukit Merah, Sembawang and Woodlands will be offered in the June sales exercise.
“HDB will continue to provide a robust supply of flats and a good mix of housing options for Singaporeans,” said Mr Chee.
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The first BTO exercise of the year began on Feb 4 and runs until 11.59pm on Wednesday. The final numbers will be published at 2pm on Thursday.
In total, 4,692 flats were launched across six projects in Toa Payoh, Bukit Merah, Sembawang and Tampines.
TAMPINES PROJECTS SEE HIGHEST APPLICATIONS
Tampines was the most sought-after estate, with 337 four-room flats attracting 3,260 applicants, recording an application rate of 6.8 for first-timer families and 35.8 for second-timer families.
The town had two projects in the February sales exercise. Tampines Bliss is classified as a Standard project, while Tampines Nova is classified as a Plus project.
An artist's impression of Tampines Bliss, which will offer three- and four-room flats with a wait time of one year and 11 months. (Image: Housing and Development Board)
Ms Christine Sun, chief researcher and strategist of Realion (OrangeTee & ETC) Group, said the results align with expectations that the town would be the most popular.
“Tampines Nova is situated right at the heart of Tampines Central, and such plum sites are rare, given the scarcity of land for new development in the Tampines Central area,” she said, adding that the preschool integrated within the development is a “unique feature”.
Both projects have shorter waiting times of under three years: Tampines Bliss will have a wait time of one year and 11 months, while Tampines Nova is expected to have a wait time of two years and eight months.
For 122 two-room flexi flats in Tampines Nova, the demand was especially high, drawing 2,481 applicants.
The application rate for first-timer singles was 111.4, which means that around 111 people are competing for each flat.
An artist's impression of Sembawang Deck, which will offer two-room Flexi to five-room flats with a wait time of two years and nine months. (Image: Housing and Development Board)
SEMBAWANG UNDERSUBSCRIBED
The projects in Sembawang were less popular, despite being the only projects to offer five-room flat types this round.
Both projects – Sembawang Deck and Sembawang Voyage – are classified as standard projects.
There were 432 applicants for 662 five-room flats, and 637 applicants for 725 four-room flats. The application rates for first-timer families are 0.4 and 0.6 respectively.
Three-room flats at Sembawang Deck had a slightly higher application rate, at 1.3 for first-timer families. In total, there were 220 applicants for 84 such flats.
Sembawang Deck is a shorter waiting time project, with an expected wait time of two years and nine months.
Mr Eugene Lim, the key executive officer at ERA Singapore, said the moderated response is likely reflective of Sembawang North’s status as an emerging estate, where amenities are still being developed.
"Moreover, with more flats scheduled to launch in Sembawang during June 2026’s BTO exercise, buyers may have seen little urgency to apply this round due to ample supply," he said.
"The BTO project in Woodlands slated for June may have also prompted buyers to hold off, given its location in a more attractive and mature town also in the north."
An artist's impression of the Redhill Peaks BTO project. (Image: HDB)
BUKIT MERAH, TOA PAYOH
While Bukit Merah is normally a popular estate due to its proximity to the city and status as a mature estate, its sole project in February had a “relatively lukewarm response”, said Mr Lim.
Redhill Peaks, the only Prime project this round, drew 1,982 applicants for 593 four-room flats and 225 applicants for 91 three-room flats. The application rates for first-timer families were 2 and 0.7 respectively.
Mr Lim said the measured demand could be due to the large number of BTO projects on offer in recent times, including the highly anticipated Berlayar Residences.
“With such a high saturation of BTO supply in Bukit Merah recently, there could be (fewer) people in the market for a new home in the estate,” he said.
He added that buyers who were unsuccessful in securing a unit in Berlayer Residences last October are likely to be waiting for the next opportunity in the same precinct, rather than applying for the current Redhill Peaks project.
Meanwhile, Kim Keat Crest, a Plus project in Toa Payoh, recorded 967 applicants for 787 four-room flats and 152 applicants for 87 three-room flats. The application rates for first-timer families were 0.8 and 0.6 respectively.
Ms Sun said the relatively low application rates suggest “some market saturation and slower demand” for the area.
Earlier launches, such as Toa Payoh Ascent and Mount Pleasant Crest, had drawn stronger interest due to their proximity to the MRT station. However, Kim Keat Crest is primarily accessible by bus, she noted.
OVERALL APPLICATION RATE FALLS
Based on the Housing and Development Board’s (HDB) latest figures, the median application rate for three-room and bigger BTO flats among first-timer families stood at 0.8.
That number is lower than the three BTO exercises in 2025, which saw rates of 1.1 for February, 1.4 for July and 1.9 in October.
In a Facebook post on Wednesday evening, Minister for National Development Chee Hong Tat said: “As application rate is the number of applicants divided by the number of units available, a lower rate means higher chances of success for the applicants.”
With application rates for first-timer families easing below one, and the median income of households rising above S$12,000 per month, it may be timely to consider adjusting the income ceiling for BTO upwards, Huttons’ Mr Lee said.
In September last year, Senior Minister of State for National Development Sun Xueling said in parliament that the income ceiling for BTO flat buyers can be raised when the “right conditions are in place”.
The BTO income ceiling was last revised in 2019. It is currently S$14,000 for couples and families.
About 6,900 flats across Ang Mo Kio, Bishan, Bukit Merah, Sembawang and Woodlands will be offered in the June sales exercise.
“HDB will continue to provide a robust supply of flats and a good mix of housing options for Singaporeans,” said Mr Chee.
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