HDB to launch 7,000 flats

Potential home buyers can expect 7,000 more BTO flats soon.

THE Housing Board has moved aggressively to reassure flat buyers that there is ample supply amid growing concerns of affordability of housing in Singapore.

RELATED LINKS   FLAT SUPPLY

National Development Minister Mah Bow Tan said on Thursday that the board will ramp up its supply of build-to-order (BTO) flats from 8,000 to 9,000 units this year, and will make available 2,132 flats which are completed or nearly completed across the island for sale with immediate effect.

This means more than 7,000 flats will be on sale for the next three months.

The sale of completed flats, left from earlier BTO exercises, SERS and repurchased flats, will come under a new scheme called Sale of Balance Flats (SBF).

This will now replace the existing balloting exercise, quarterly sales, and half-yearly sales exercises.

Ranging from studio apartments to executive flats, the flats on offer range from $97,000 to $643,000.

HDB will conduct the SBF as and when there are sufficient numbers accumulated.

The rationale behind this move is to simplify the flat application process, and to provide buyers with a wider choice of flats across a range of locations in one exercise, said the HDB on Thursday.

In the next three months, 5,000 BTO flats will be released for sale. These will be in Punggol, Sengkang, Jurong West, Sembawang, Bukit Panjang and Dawson.

Mr Mah also said that flash estimates for the third quarter showed that HDB resale flat prices rose by 3.2 per cent, and for private property, prices rose by about 15.9 per cent on the back of the recent property boom.

He also assured that the Government is monitoring the situation closely and will ensure that homes are available and affordable.

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Source : Straits Times – 1 Oct 2009