The Housing Development Board’s (HDB) February 2026 Build-To-Order (BTO) sales exercise saw a decline in application rates for the second consecutive time, with 13,800 applicants vying for 4,692 flats, resulting in an overall application rate of 2.9. This marks a decrease from previous exercises, which recorded rates of 3.6 in October 2024 and 4.2 in July 2025, according to Realion (OrangeTee & ETC) Group’s Chief Researcher & Strategist, Christine Sun.
The decline in applications is attributed to prospective buyers holding off for the June sales exercise, which promises attractive sites in Bishan, Ang Mo Kio, and Bukit Merah. These areas are expected to offer more units, increasing applicants’ chances of success. Despite the overall decline, certain flat types and towns, such as Tampines, saw high demand. Notably, 2-room flats in Tampines Nova attracted over 5,500 applicants for just 1,246 units.
In contrast, the concurrent Sale of Balance Flats (SBF) exercise recorded a higher application rate of 3.6, with over 15,400 applicants for 4,320 flats. Many Singaporeans opted for SBF due to the availability of units in sought-after towns like Kallang/Whampoa and Bukit Merah, where construction has already commenced, allowing for earlier move-in dates.
The popularity of Tampines Nova is attributed to its central location and unique features, such as an integrated preschool. However, areas like Sembawang and Toa Payoh saw lower demand due to fewer amenities and market saturation, respectively. Future launches in these areas may further influence application trends.
