Tag Archives: Housing and Development Board

Flood of bids for flats

Posted on 15 Oct 2009 | Comments Off on Flood of bids for flats

Over 20,000 apply for 2,132 flats in HDB’s new Sale of Balance Flats

If you were one of the 1,022 who applied for a four-room flat in Sengkang as of 5pm yesterday, your chances aren’t good – in fact, they are a mere one in 39, with only 26 units up for grabs.

This is an extreme example of the overwhelming response to the Housing and Development Board’s (HDB) new Sale of Balance Flats (SBF) exercise.

Just hours to go before the midnight deadline, there were nearly 10 bids for every unit being offered under the scheme. As of 5pm, there were 20,691 applications for the 2,132 flats that range from studio units to executive flats.

The exercise, launched by the HDB on Oct 1, has drawn intense interest because the flats are from surplus stock, which means there is little or no wait for the prospective home-buyer – as compared to the average three-year wait for a flat under the Build to Order (BTO) scheme. Continue reading →

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Overwhelming response to Sale of Balance Flats

Posted on 15 Oct 2009 | Comments Off on Overwhelming response to Sale of Balance Flats

The Housing & Development Board (HDB) says the chances of a first-time flat buyer shortlisted to select a flat under the first Sale of Balance Flats exercise is slim, despite the priority given to them.

This is due to the overwhelming response to the exercise which will end at midnight Wednesday. More than 20,000 applications were received as at 5pm for the 2,100 flats on offer.

About seven in ten applicants are first-time buyers. The rest have bought at least one flat in the past. Demand was high across the board, even in less mature and less centralised locations such as Bukit Batok, Choa Chu Kang and Woodlands.

Property analysts attributed the strong demand partly to the boom in the housing market. Continue reading →

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