Strong performance for 5-room flats in Chencharu and Fernvale in Oct BTO Exercise

SINGAPORE, 22 October 2025 - The Yishun (Chencharu) BTO project saw a strong response for 5-room flats, with a high 3.3 application rate. This is more than double the previous Chencharu BTO launch in February 2025, which recorded a 1.4 application rate. This demonstrates buyers’ confidence in the estate’s increasing appeal.

Compared to the other 5-room flats available, Chencharu had the highest application rate (3.3), followed closely by Sengkang (Fernvale) at 2.2, Jurong East at 2.0, and Bedok at 1.0.

Bedok’s BTO project - Ping Yi Court’s low 5-room application rate can be attributed to its high starting price (from $727,000), especially compared to Sengkang (from $411,000) and Yishun (from $455,000).

Chencharu’s emergence as a promising new township with easy access to a nearby MRT station, combined with its attractive pricing, has allowed it to capture the largest share of 5-room homebuyers.

Prime Projects sees strong interest across the board

This exercise showed a fairly even distribution of applicants across the Prime projects in Bishan, Bukit Merah, and Toa Payoh, with 4-room flats recording application rates of 3.1, 2.8, and 3.1 times respectively.

Despite the higher subsidy recovery rates, the combination of attractive locations and starting prices nearly 50% lower than comparable resale flats strongly appealed to homebuyers seeking long-term owner-occupation.

Table 1: Starting prices of 4-room Prime BTOs in October 2025’s exercise vs nearby resale prices

Source: HDB 

Despite a 14% clawback, Berlayar Residences, located near Telok Blangah in Bukit Merah, recorded a strong application rate of 2.8 times, up from 2.2 times in the previous period. Its accessible starting price, combined with the allure of a new waterfront precinct offering potential sea views from higher floors, made it an attractive choice for many buyers seeking lifestyle appeal.

Homebuyers looking to experience living in a new precinct while staying close to mature estates and MRT connectivity have appealing options in the Mount Pleasant and Berlayar projects.

Meanwhile, demand for the Bishan project is likely driven by its close walking distance to Bishan Central’s amenities such as Junction8, Bishan MRT interchange, Bishan bus interchange, and the future ‘Bishan 2.0’ masterplan, which aims to revitalise the town centre.

Plus flats failed to make a splash this time around

This BTO exercise featured only one Plus project, located in Ang Mo Kio, with starting prices from $510,000 and a subsidy recovery rate of 7%. The project only attracted an application rate of 0.6 for 4-room units so far.

Its lacklustre location - situated slightly outside walking distance from Ang Mo Kio and Yio Chu Kang MRT stations – may have reduced demand, with some applicants probably shifting their interest towards Prime projects that offer better location attributes, despite higher subsidy recovery rates.

This stands in stark contrast to the previous Plus project in Ang Mo Kio - Central Trio @ AMK - which recorded a significantly higher application rate of 4.1 times.

This disparity can be attributed to differences in location, with Central Trio @ AMK situated within Ang Mo Kio’s old town, providing proximity to the town centre’s amenities and MRT station. Additionally, last year’s launch featured lower starting prices from $488,000 and a slightly lower subsidy clawback rate of 6%, which likely made it more attractive to buyers.

Plus and Prime 3-room flats remain a less popular option. 

We observed low application rates (1.0 and under) for Plus and Prime 3-room flats in Ang Mo Kio, Bishan, and Toa Payoh. The longer 10-year MOP may have discouraged some homebuyers from choosing these smaller 3-room flats, even with their more affordable prices. 

Young buyers, in particular, might be uncertain about future family plans and prefer the flexibility of a shorter MOP. This could explain why Standard projects like Chencharu, which offer greater flexibility, recorded the highest 3-room application rate at 2.1.

Strong interest in 2-room Flexi units in Jurong East, Bishan, and Bedok

Among the projects offering 2-room flexi units, those in Jurong East, Bishan, and Bedok received applications exceeding ten times.

Jurong East recorded the highest application rate at 18.3 times. Its affordable prices, Standard classification, and proximity to the Teban Gardens estate probably attracted West-side homebuyers wanting to stay in a familiar neighbourhood or be near family.

A similar trend was observed in Bedok, which had a 14.7-times application rate. As an established estate in the East, Bedok continues to attract applicants who wish to be near family and within an area they are familiar with. 

Meanwhile, Bishan ranked second highest with a 15.3-times application rate, despite being a Prime project with stricter resale restrictions. Compared to other Prime projects located in newer precincts, Bishan Terraces’ position within a well-established mature estate likely appealed to applicants who grew up in the area and had been waiting for an opportunity to secure a 2-room BTO unit in Bishan to stay close to family.

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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