Tag Archives: Build-to-Order scheme

HDB ramping up supply of flats

Posted on 2 Oct 2009 | Comments Off on HDB ramping up supply of flats

7,000 units will be released over the next three months

By Jessica Cheam
The Nautilus@Punggol (left) is a development of build-to-order HDB flats. Flat supply under the build-to-order scheme for the year will be ramped up to 9,000 from about 8,000 announced previously. About 5,000 units will be launched for sale in various areas, including Punggol. — PHOTO: HDB

THE Housing Board will unleash about 7,000 flats onto the market over the next three months in an aggressive step to tackle rising concerns over supply and affordability.

RELATED LINKS Upcoming Supply

The 7,000 homes exceed the 6,450 units released for first nine months of this year.

They also include 2,132 units in 24 estates across the island that have just been finished, or are near completion. They were launched yesterday in what was the Housing Board’s single largest sales exercise in recent times. Continue reading →

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SUPPLY UNDER BTO SCHEME

Posted on 2 Oct 2009 | Comments Off on SUPPLY UNDER BTO SCHEME

The BTO system was implemented after a review of the method of selling flats in 2001.

Prior to this, HDB sold flats under the Registration of Flats System (RFS). Every buyer in the queue was promised a flat, resulting in a waiting time of 7 years at its peak.

However, the 150,000 households in the queue did not reflect real demand. The queue disappeared when the Asian Financial Crisis hit, and HDB was left with 20,000 unsold flats.

Today, HDB will build new flats under the BTO system only when a good majority of flats in a project are booked. The BTO system allows HDB to build

according to real demand and to respond flexibly to the needs of flat buyers. It also

provides greater certainty to flat buyers. Majority of first-time applicants have a chance to select a BTO flat within two tries. Flat buyers can look forward to possession of their flats 3 years after booking.

The BTO system allows HDB to ramp up new flat supply quickly when demand is high. Conversely, when demand is low, HDB will scale back to avoid oversupply.

Source : Straits Times – 1 Oct 2009

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