Build more BTO flats in mature estates: Khaw

[mr funny]

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_674189.html

May 30, 2011

Build more BTO flats in mature estates: Khaw


IN HIS third blog posting in five days, new Minister of National Development Khaw Boon Wan has asked the HDB to look into building more Build-To-Order (BTO) flats in mature estates.

Titled Making A Calculated Move, Mr Khaw acknowledged that his Ministry had been reluctant to launch BTO projects in mature estates for fears that its popularity 'would attract high subscription rates, further alarming the market.'

'While this is a valid concern, I believe that Singaporeans will understand that mature estates will always attract very high subscription. We should not be daunted by such a prospect, but should instead try to meet the aspirations of many young couples wanting to set up nests near their parents,' Mr Khaw wrote.

But even though the Minister pointed out that HDB doubles the balloting chances of such couples under the Married Child Priority Scheme, he advised young couples to look to get a HDB unit in newer estates, so as to 'better their chances of getting a flat.'

Mr Khaw's blog comes after the current BTO launch that saw about 8,000 applications for 4,000 new units so far, the highest demand coming for flats in Tampines, a matured estate.

To read more of Minister Khaw's latest blog post, go here: http://mndsingapore.wordpress.com/2011/05/30/making-a-calculated-move/

[Localite]

Am I correct that because of this initiative the gov would release more hdb land and less pte ppty land?

Would this not lead to a two tier market situation.

[2824]

As long as there is a chance pple will apply. See the 4D and toto queues.


http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_674189.html

May 30, 2011

Build more BTO flats in mature estates: Khaw


IN HIS third blog posting in five days, new Minister of National Development Khaw Boon Wan has asked the HDB to look into building more Build-To-Order (BTO) flats in mature estates.

Titled Making A Calculated Move, Mr Khaw acknowledged that his Ministry had been reluctant to launch BTO projects in mature estates for fears that its popularity 'would attract high subscription rates, further alarming the market.'

'While this is a valid concern, I believe that Singaporeans will understand that mature estates will always attract very high subscription. We should not be daunted by such a prospect, but should instead try to meet the aspirations of many young couples wanting to set up nests near their parents,' Mr Khaw wrote.

But even though the Minister pointed out that HDB doubles the balloting chances of such couples under the Married Child Priority Scheme, he advised young couples to look to get a HDB unit in newer estates, so as to 'better their chances of getting a flat.'

Mr Khaw's blog comes after the current BTO launch that saw about 8,000 applications for 4,000 new units so far, the highest demand coming for flats in Tampines, a matured estate.

To read more of Minister Khaw's latest blog post, go here: http://mndsingapore.wordpress.com/2011/05/30/making-a-calculated-move/

[mr funny]

http://www.businesstimes.com.sg/sub/suite/story/0,4574,441211,00.html?

Published May 31, 2011

More BTO flats in mature towns: Khaw

Govt hopes to help young couples wanting to live near their parents

By EMILYN YAP


THE Housing and Development Board (HDB) could be launching more new flats in mature estates next year to help young couples live near their parents, said National Development Minister Khaw Boon Wan yesterday.

He revealed this in a post on his Housing Matters blog, noting that application rates for bigger flats in build-to-order (BTO) projects in Tampines - launched just four days ago - have been high.

Flats in mature estates such as Tampines tend to be more popular because of well-developed transport networks and amenities in these towns.

Last Friday, HDB rolled out close to 4,000 new BTO flats across four estates, including Tampines and Pasir Ris. 'So far, nearly 8,000 have applied,' Mr Khaw said. 'The projects in Tampines are the most popular with high application rates for the four and five-room flats.'

New flats in mature estates are more attractive as many couples would like to live near their parents, he said. This is also the first time in recent years that BTO flats have been launched in Tampines.

The Ministry of National Development (MND) 'has been rather reluctant to launch BTO in mature estates as it worries that such popular launches would attract high subscription rates, further alarming the market', Mr Khaw said.

He acknowledged that this is a valid concern, but Singaporeans understand that mature estates are popular, he said. 'We should not be daunted by such a prospect, but should instead try to meet the aspirations of many young couples wanting to set up nests near their parents.'

A large number of BTO flats have been launched in newer towns such as Sengkang and Punggol. Queenstown, a mature estate, saw the introduction of two BTO projects in December 2009.

'I have asked HDB to look into more mature estates as possibilities. It is too late to prepare suitable sites for this year, but we should be able to put up some for next year's BTO,' Mr Khaw said. As some of the new sites would be near existing flats, 'I hope residents will bear with the construction'.

While more flats in mature estates are on the way, competition for them will be high and young couples will have a better chance of securing units in new towns, he added.

MND has been actively addressing housing concerns. Last Friday, Mr Khaw said that HDB will release more BTO units this year and start building in anticipation of demand.

PropNex CEO Mohamed Ismail welcomed the moves, but added that it would be good for MND to give a full picture of flat availability in both new and mature estates. This will help home seekers decide if they should apply for flats now or later, he said.

[mr funny]

http://www.straitstimes.com/PrimeNews/Story/STIStory_674318.html

May 31, 2011

More new flats to come up in mature estates

Minister wants to help couples wishing to set up home near parents

By Daryl Chin & Cheryl Ong


ASPIRING home owners can expect to see more build-to-order (BTO) HDB projects launched in mature estates next year, promised National Development Minister Khaw Boon Wan yesterday.

Announcing this latest policy shift in another blog post, he said: 'I have asked HDB to look into more mature estates as possibilities.

'It is too late to prepare suitable sites for this year, but we should be able to put up some for next year's BTO.'

He said that his ministry has been 'rather reluctant' to launch BTO in mature estates as it was worried that such popular launches would attract high subscription rates, 'further alarming the market'.

'While this is a valid concern, I believe that Singaporeans will understand that mature estates will always attract very high subscription,' he said.

'We should not be daunted by such a prospect, but should instead try to meet the aspirations of many young couples wanting to set up nests near their parents. Our response should be to put up more sites in mature estates, even as we ramp up BTO launches elsewhere.'

Mr Khaw added that it will be inevitable that some of these new sites will be near existing residential blocks, and he hoped residents will bear with the construction while works are under way.

The blog, titled Making a Calculated Move, was his third since last Thursday.

Like the other two - as well as his recent comments - it showed the determination of the new National Development Minister to address areas in housing which are causing unhappiness to various segments of Singaporeans.

Last Friday, he spoke of speeding up the construction of new flats and raising the number of BTO units from 22,000 to 25,000 this year. At a forum with youth on Sunday, he said that more rental flats must be built for lower-income families.

Under the BTO system launched in 2002, the HDB builds flats in response to demand for them.

In his latest post, Mr Khaw noted that the current BTO launch for 4,000 new units in four towns was under way. So far, there have been about 8,000 applications, and this was within the ministry's expectation.

Not surprisingly, he said, projects in the mature estate of Tampines are the most popular, with many applying for four- and five-room flats.

He acknowledged that new flats in mature estates are more attractive since many couples living there would like to continue to live close to their parents.

This is a move which the Government supports, and so it has doubled the chances of such couples under the Married Child Priority Scheme.

The current BTO launch in Tampines is also the first one there in recent years, he noted.

He said that young couples eagerly looking for new homes should calculate their chances.

'My advice to them is to opt for non-mature estates,' he said.

'You improve considerably your chance of securing one in the new towns, instead of competing with many others for the popular projects in the mature estates,' he said, adding 'good luck friends, and congratulations on your recent or upcoming wedding'.

For years, the Ministry of National Development's (MND) position has been to focus on launching new flats in non-mature estates such as Punggol and Sengkang .

Last year, former national development minister Mah Bow Tan said that land in mature estates was limited and the mainstay of BTO supply will still be in outlying estates.

Launches in mature estates have proven to be wildly popular.

In 2009, 1,718 BTO flats in Queenstown - namely, SkyVille@Dawson and SkyTerrace@Dawson - received over 10,000 subscriptions, or 12 buyers for some units in the estate.

In 2007, 400 flats in Telok Blangah Towers were oversubscribed nearly 20 times, with 7,970 applications.

Mature estates usually have more established infrastructure such as recreational and educational facilities and well-connected transport links.

In such areas, land for building new flats is limited and flats built are generally snapped up quickly.

Dennis Wee Group director Chris Koh said that these projects are also likely to be smaller in size given the limited land.

He added that flats could be built at the perimeter of mature estates.

Mr Colin Tan, research and consultancy director at real estate firm Chesterton Suntec International, said HDB can overcome such size limitations by building taller blocks and increasing the population density.

Mr Khaw's latest announcement gives hope to buyers like human resources executive Teo Yingying, 25, who has applied for a BTO flat with her boyfriend five times with no success. She is hoping for a BTO launch in Tanjong Pagar where she now lives with her parents.

'I want to be near my parents. If we ever have children, my parents can help me take care of them when we're working,' she said.

MND said that it is studying suitable sites and more information will be released later this year.

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