Nearly all flats for singles oversubscribed on opening day of October BTO exercise

Nearly all public housing flats for singles were oversubscribed on the opening day of October's Build-To-Order exercise. There were more than seven single buyers vying for each flat in Ang Mo Kio. This is the first time singles can buy BTOs in mature estates. Buyers of Plus and Prime flats in choicer locations at this month's BTO exercise will also be subject to a subsidy clawback. The government will take back at least 6% of the value when such flats are resold. One analyst said these subsidy recovery rates are unlikely to lead to higher resale prices after the minimum occupation period of 10 years.