HDB announces bumper launch of 8,000 flats
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SINGAPORE: The Housing and Development Board (HDB) will launch a bumper crop of 8,000 flats in Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercises on Wednesday.
The flats are in mature and non-mature estates, and cover a full range of flat types from three- to five-room flats.
HDB is using the ramped-up supply of new flats to help other buyer groups, now that the queue of first-time flat applicants has been largely cleared, National Development Minister Khaw Boon Wan said in his latest blog entry on Tuesday.
Slightly more than half of the flats will consist of BTO flats, with about 1,200 flats in Bukit Batok, 860 in Bukit Panjang, 670 in Clementi, 640 in Geylang, 410 in Bedok, 180 in Toa Payoh and 130 in Bukit Timah.
Mr Khaw said that with the wide range of flats offered in the launch on Wednesday, flat buyers will be able to apply for one that best meets their needs, and in an estate of their choice.
As strong demand is expected for flats that are completed or nearly completed in mature estates, Mr Khaw advised those who want to have a better chance of success to widen their options and consider applying for a BTO flat in non-mature estates.
Mr Khaw said he will be monitoring the application rates to see how Singaporeans respond to the new government initiatives, adding that nothing is cast in stone.
The results of the launch will help the HDB calibrate BTO rules for future launches to ensure that policy objectives are met.
The priority still lies with helping first-timers get their first HDB flat as quickly as possible so they can start their families, Mr Khaw said.
In early March, Mr Khaw announced in Parliament a number of new measures to help various groups of home buyers.
The HDB is tripling the chances for second-timers to get BTO flats in non-mature estates and enhancing the Married Child Priority Scheme.
It is also introducing a new Multi-Generation Priority Scheme to help married children live with or near their parents, along with an Ageing-in-Place Priority Scheme and a Silver Housing Bonus Scheme to help the elderly age in a familiar environment.
300 studio apartments will also be offered in Bukit Timah and Toa Payoh to cater to elderly residents under the Ageing-in-Place Priority Scheme.
- CNA/wm/al -
Jialat.....
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Looks like population will be increasing again.
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Originally posted by charlize:
Looks like population will be increasing again.
More .... foreign
becum
One of us ?
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Times are bad if they have to build so many flats to ease the excessive demand.
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which eases the demand..
prices drop..
banks want their pound of flesh...
to keep the price high, increase demand...
and no prizes for guessing how the increase in demand is going to come about
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Originally posted by the Bear:
which eases the demand..
prices drop..
banks want their pound of flesh...
to keep the price high, increase demand...
and no prizes for guessing how the increase in demand is going to come about
ever notice it has become even more crowded now compared to one year ago?
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HDB tweaks rules to protect serious buyers, will launch 4,640 flats in May
SINGAPORE: The Housing and Development Board (HDB) has tweaked its rules to discourage buyers who book a flat but subsequently cancel their booking, in a move designed to better protect the interests of serious home buyers.
Such applicants who cancel their booking cannot, within one year from the date of cancellation, apply or be included as an essential occupier for a new HDB flat, DBSS (Design, Build and Sell Scheme) unit, Executive Condominium unit, or a resale flat with housing grants.
The requirement will be waived in exceptional circumstances beyond the control of the applicants.
The HDB hopes this will ensure that the flats are only allocated to serious buyers.
Currently, buyers only have to pay a non-refundable booking fee when they select a unit and a 10-per cent downpayment when they sign the agreement.
The HDB said it has seen a steady increase in the number of flat booking cancellations over the last five years - from 309 in 2007 to 1,540 cancellations in 2011.
It said one of the reasons for the increase is the higher BTO supply in recent years.
The cancellations form five to six per cent of Build-to-Order (BTO) supply.
The applicants cite various reasons for cancellation, such as a change in housing plan and intention to buy another flat.
In order to help some families enjoy greater access to two-room flats, the HDB is also raising the income ceiling for two-room flats in mature towns and estates from S$2,000 to S$5,000 per month.
The move provides an additional housing option for households who prefer to live in mature estates, but whose monthly income exceeds S$2,000.
The HDB also said it will be offering 4,640 BTO flats for sale in Choa Chu Kang, Kallang/Whampoa, Punggol and Sengkang in May.
It has ramped up flat supply substantially, to some 50,000 units in two years, to meet housing needs and will continue to build more if demand persists, the HDB said.
The HDB also launched on Wednesday 7,978 flats for sale under BTO and Sale of Balance Flats (SBF) exercises for March.
The public housing authority continues to place priority on first-time flat applicants.
In the March launch, 4,153 units are new flats in eight BTO projects and 3,825 are SBF flats in 26 towns and estates. Of these, 1,739 of the BTO flats in mature estates and 3,609 SBF flats will render top priority for first-timers.
The HDB said 95 per cent of these flats will be reserved for them.
At the same time, the HDB is enhancing housing options for second-time home-buyers, married children and parents wanting to live with or near each other, as well as the elderly who want to age in a familiar environment and families preferring two-room flats in mature estates.
For second-timers, the chances of securing a flat will be tripled from 5 per cent to 15 per cent for 2,094 BTO flats in non-mature estates. The proportion of these flats reserved for first-timers will be reduced to 85 per cent.
The HDB said the chances of first-timers will not be too greatly affected, after successive massive BTO launches in the past one year.
The HDB also said there will be more housing options in mature estates, with 3,174 flats in the March launch located in such estates. These include 397 studio apartments and 366 units of two-room flats.
More choices will be provided for married children wanting to stay near their parents, the elderly who want to remain in the same town or estate, as well as families preferring two-room flats in mature estates, the HDB added.
To help married children and parents live with or near each other, the HDB introduced the Multi-Generation Priority Scheme (MGPS) at Ping Yi Greens in Bedok.
The scheme gives priority allocation to married children and their parents who jointly apply to live near each other. Married children can apply to buy a two-room, three-room or four-room flat at Ping Yi Greens, while their parents can apply to buy a two-room flat in the same project.
The HDB has also enhanced the Married Child Priority Scheme (MCPS) to increase the number of ballot chances a married child receives if he applies to live with his parents. Such an applicant will now receive six ballot chances if he's a first-timer, and three ballot chances if he's a second-timer.
To help the elderly to age in a familiar environment, the HDB has introduced Ageing-in-Place Priority Scheme (APPS) to give priority to seniors living in the same town/estate or within two kilometres of the project they apply for.
Seniors applying under the scheme will receive two ballot chances, instead of one. If they are also applying to live near their married child under MCPS, they will receive four balloting chances altogether.
- CNA/wm/fa -
The backlog damn scary.
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HDB applications exceed available flats
Property Guru – Fri, Mar 30, 2012
Home buyers have overwhelmingly responded to the Housing and Development Board's (HDB) recent launch of 7,978 flats, with applications exceeding the number of available flats, according to a Straits Times report.
Some 8,551 applications were received as of 5pm yesterday in only the second day of applications, said the HDB. The launch will carry on for five more days.
HDB's figures show that demand for Sale of Balance Flats (SBF) was mostly driven by second-timers but their quota still remains at five percent.
On the other hand, Build-to-Order (BTO) flats appealed mostly to first-timers. Related Stories:1-year ban for cancelling HDB bookings
HDB's bumper supply to meet diverse needs
HDB raises income ceiling for two-room flats in mature estates
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Pay that kind of price to own a pigeon hole for 99 years, it's a joke. That kind of money can buy a nice bungalow with swimming pool elsewhere. No one in the world takes 30 years loans for public housing except sg.
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just to add to this mess..
guess which country is in major shit now because of stupid and insane housing policies?
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love our government
puts its ppl in first place
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Originally posted by the Bear:
just to add to this mess..
guess which country is in major shit now because of stupid and insane housing policies?
Is this a trick question?
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They are actually quite farked now.
If housing prices go down, those who purchased it at high price will be pissed, if it maintains high price, those who haven't purchased will be pissed.
You're damned if you do and you're damned if you don't.
It's like being stucked in a rock and a hard place.
But all these manifestations a result of their steroidal policies.
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Charge you $10 for one roti prata plain.
Then give you $2 discount because they say they are subsidizing your prata.
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Originally posted by charlize:
Charge you $10 for one roti prata plain.
Then give you $2 discount because they say they are subsidizing your prata.
plain flour only....rip-off