HDB announces bumper launch of 8,000 flats

HDB announces bumper launch of 8,000 flats

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.

Source : Channel NewsAsia – 27 Mar 2012