Tag Archives: Sales of Balance Flats

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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20,691 apply for 2,132 ready flats

Posted on 15 Oct 2009 | Comments Off on 20,691 apply for 2,132 ready flats

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.

RELATED LINKS  SOME POPULAR ESTATES

The 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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