Tag Archives: HDB

BTO launch draws more applicants than units available

Posted on 31 May 2011 | Comments Off on BTO launch draws more applicants than units available

In only days, the biggest Build-to-Order (BTO) launch by the authorities has attracted twice as many applicants as the number of units available, and National Development Minister Khaw Boon Wan is not surprised.

The application rate is within expectation, Mr Khaw wrote yesterday on his housing blog. Of the 4,000 units across six projects, the ones in Tampines are the most popular, he added, with high application rates for the four- and five-room flats – about 3.5 and four applications per unit respectively.

More are expected to apply before the deadline on Thursday.

At the Housing and Development Board (HDB) Hub yesterday, first-time applicant Lee Wee Ming said: “I’m getting a Tampines flat, which is near my mother-in-law’s place .. This is a pro-family move by the Government to have … BTOs in mature estates.”

Other flat buyers were concerned about the outcome of the income ceiling review for new flats.

Four-time BTO applicant Derek Ong said: “With the increased income ceiling, more people are going to be eligible for BTOs.”

Meanwhile, analysts estimate that cash-over-valuation will slide from the current average of S$21,000 to between S$15,000 and S$10,000 as a result of the move to build more new flats coupled with the Government’s recent cooling measures for the property market.

SLP International head of research and consultancy Nicholas Mak said: “It would draw some of the demand from the resale flat market into the BTO application list.”

Source : Today – 31 May 2011

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Khaw asks HDB to look into building more BTO flats in mature estates

Posted on 30 May 2011 | Comments Off on Khaw asks HDB to look into building more BTO flats in mature estates

National Development Minister Khaw Boon Wan said he has asked HDB to look into building more Build-To-Order (BTO) flats in mature estates.

In his latest blog post, Mr Khaw said it is too late to prepare suitable sites for this year but HDB should be able to offer some BTO launches in mature estates next year.

He said the National Development Ministry has been rather reluctant to launch BTO projects in mature estates as it worries that such popular launches would attract high subscription rates, further alarming the market.

Mr Khaw said he believes Singaporeans understand that mature estates will always attract very high subscription rates.

Rather than be daunted by such a prospect, Mr Khaw said HDB should try to meet the aspirations of many young couples wanting to set up homes near their parents.

He said the response should be to put up more sites in mature estates, even as HDB ramps up BTO launches elsewhere.

He also pointed out that HDB doubles the balloting chances of such couples under the Married Child Priority Scheme.

Commenting on the current BTO launch, Mr Khaw said nearly 8,000 have applied for the 4,000 new units so far and that this application rate is within expectation.

He noted that the projects in Tampines are the most popular, with high application rates for the 4-room and 5-room flats.

There are currently 3.5 applications for each 4-room unit, and four applications for each 5-room unit.

Mr Khaw said new flats in mature estates are more attractive as many couples living there would like to continue living close to their parents.

He added that the Tampines units are in high demand as this is the first BTO launch in the area in recent years.

Mr Khaw also advised young couples eagerly looking for new homes to calculate their chances and opt for non-mature estates, rather than competing for popular projects in mature estates.

Source : Channel NewsAsia – 30 May 2011

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