THE Housing Board (HDB) has been swamped by 20,691 applications for 2,132 completed or near-completed flats – in a sign of red-hot demand for its homes.
Applications for the flats – which are at various locations across the island, including sought-after mature estates – closed yesterday.
SOME POPULAR ESTATESThe eye-popping figures mean there were almost 10 bids for every available flat – an overwhelming level of demand not seen since the pre-financial crisis property boom, analysts say.
HDB said in a statement yesterday that it had ‘expected strong interest for these flats as they are limited in number, located in the popular mature estates, and are either completed or close to completion’.
About seven out of 10 applicants are first-time flat buyers, said HDB. But despite priority being given to first-timers, the chances of being short-listed to select a flat ‘will not be high due to the overwhelming response’, it said. Continue reading
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