26,000 new HDB flats this year: Khaw

[mr funny]

http://www.businesstimes.com.sg/sub/news/story/0,4574,441700,00.html?

Published June 3, 2011

26,000 new HDB flats this year: Khaw

By UMA SHANKARI


THE Housing & Development Board (HDB) will release some 1,000 left-over flats accumulated from previous launches under its 'sale of balance flats' exercise later this year - boosting the total flat supply for 2011 to 26,000 units.

Just last week, HDB ramped up the supply for the full year from 22,000 units to 25,000 units. This was done by bringing forward the projects planned for the first quarter of 2012 by a couple of months.

And yesterday, HDB said the supply will be increased further after National Development Minister Khaw Boon Wan asked the government agency to look into releasing the 1,000 left-over units.

'We have some 1,000 balance units accumulated from earlier sale exercises,' Mr Khaw said in his Housing Matters blog yesterday. 'With these, we are looking at a total supply of 26,000 units by year-end.'

Mr Khaw also said that the 4,000 new flats HDB released across six projects at the end of last month - the largest supply of new flats ever rolled out at one go - drew around 13,000 applications.

This gives an application rate of over three times - similar to the application rate for new HDB flats launched in April, and lower than the application rates of five times for the February launch and seven times for the March launch.

'With this launch, we have offered about 12,000 units this year, leaving another 13,000 units to be launched in the next seven months,' Mr Khaw said.

'With monthly launch, this will mean an average launch size of about 1,800 units, smaller than the recent launch of 4,000 units. For the June BTO (build-to-order) currently being prepared, we are looking to launch about 2,100 flats in Bukit Panjang and Sengkang.'

[ysyap]

Thought BTO is gonna be scrapped how come still there? Does it mean instead of achieving 80% take up rate, it is reduced? But what is the point? The past BTO projects have consistently achieved some 150% to 200% subscription rate. 26 000 units for 2011 is simply too little. Just that recent BTO for 4000 units received 13 000 applications. Its 325% subscription. Subtracting those who who are not serious and those who are 2nd timers, it is easily about 6000 to 8000 serious 1st timers and that is still 200% subscription. HDB must do better than that. Having said that, the amount of backlog left by previous minister might just be that too much too late to clear... Keep up the good work, KBW... :o

[mr funny]

http://www.straitstimes.com/Singapore/Story/STIStory_675545.html

Jun 3, 2011

1,000 more flats set to be offered

Khaw asks HDB to look into releasing unsold units; it could boost total to 26,000 this year

By Daryl Chin


EVEN as the latest offer of 3,957 Build-To-Order (BTO) flats drew to a close yesterday, National Development Minister Khaw Boon Wan announced yet another infusion to ramp up supply.

He has asked the Housing Board to look into releasing 1,000 unsold units from earlier sale exercises later this year.

Just last week, he raised the total number of flats on offer this year from 22,000 to 25,000, in a bid to help more young couples own homes as soon as possible.

With the 1,000 now set to be added from the Sale of Balance Flats (SBF) exercise, Singaporeans are looking at a total of 26,000 units to choose from for the whole of this year.

In his latest blog posting titled Within Expectation, Mr Khaw noted that application rates for the latest BTO were 'good and within expectation'.

The six BTO projects, which will be built only after eligible buyers register sufficient interest, are located across four towns - Pasir Ris, Punggol West, Tampines and Woodlands.

This was the largest supply of BTO flats in a single launch, surpassing the 3,185 units offered previously.

As of yesterday, more than 13,000 people had applied for the flats, or more than three applications per unit.

Most in demand were five-room flats in the mature estate of Tampines, which was oversubscribed by seven times. The 320 units measuring about 1,200 sq ft cost between $371,000 and $444,000.

Two-room flats in Pasir Ris drew the least interest, said the HDB. The 257 flats only garnered 76 applications. These 500 sq ft units cost between $120,000 and $143,000.

Mr Khaw noted that if the application rates for projects in Tampines were excluded, the overall application rate was about two and a half times.

He said that HDB will try to get the flats completed as soon as possible.

With this latest launch, HDB has offered about 12,000 units this year, leaving another 13,000 units to be launched in the next seven months.

These launches would average about 1,800 units.

For the June BTO currently being prepared, HDB is looking to launch about 2,100 flats in Bukit Panjang and Sengkang, said Mr Khaw.

Market watchers said yesterday's results were expected.

ERA Realty's key executive officer Eugene Lim said: 'Tampines is an older estate and an established one, which means more parents living there. Hence the demand as their children get their own homes.'

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