mr funny
25-07-11, 01:19
http://www.businesstimes.com.sg/sub/news/story/0,4574,448071-1311105540,00.html?
Published July 19, 2011
Aim is for more flats in each BTO launch: Khaw
Minister believes 'sufficient critical mass' will raise applicants' chances of selecting a unit
By EMILYN YAP
THE Housing & Development Board (HDB) will be rolling out more new flats at a go to raise home seekers' chances of selecting a unit, and the next launch could happen in September.
Stabilising the prices of new flats is also a priority, said Minister for National Development Khaw Boon Wan yesterday.
Mr Khaw was speaking to the press after his first visit to HDB Hub at Toa Payoh in his capacity as National Development Minister. He spoke to several flat buyers, including couples who were choosing units from build-to-order (BTO) projects.
He noted that BTO applicants stand a higher chance of being asked to select a flat when the subscription rate is lower.
As he mentioned on his blog on Sunday, when the application rate for a BTO project is about two, almost all applicants get a chance to select a unit.
Therefore, there is value in having a 'sufficient critical mass' for launches, Mr Khaw told reporters. In the past, HDB would roll out smaller batches of flats but many people would flock towards them and unsuccessful applicants would be disappointed, he said.
'You must push out more, and a wider range. That's the key,' Mr Khaw said. HDB has started doing that - it combined BTO launches originally planned for June and July and released around 3,600 new flats last week.
HDB will continue to merge launches and the next one is likely to take place in September. 'That will do a lot to calm the market and reduce disappointment,' he said.
What was striking about last week's BTO launch was not just its size, but also the prices of the flats released, which appeared lower than those in earlier BTO projects.
For instance, the indicative selling price (excluding grants) for five-room flats started from $274,000 in last week's launch, but the starting price was $335,000 in May's launch.
Mr Khaw stressed that many factors, such as location, affect the prices of new flats and direct comparisons would not be appropriate.
But he acknowledged: 'What I'm trying to achieve at this stage is to try to stabilise the pricing. So you can largely see that the prices are not increasing, but they are also not dropping sharply.'
The priority is to stabilise the market and 'hopefully that will be reassuring to Singaporean buyers and young couples,' he added.
Published July 19, 2011
Aim is for more flats in each BTO launch: Khaw
Minister believes 'sufficient critical mass' will raise applicants' chances of selecting a unit
By EMILYN YAP
THE Housing & Development Board (HDB) will be rolling out more new flats at a go to raise home seekers' chances of selecting a unit, and the next launch could happen in September.
Stabilising the prices of new flats is also a priority, said Minister for National Development Khaw Boon Wan yesterday.
Mr Khaw was speaking to the press after his first visit to HDB Hub at Toa Payoh in his capacity as National Development Minister. He spoke to several flat buyers, including couples who were choosing units from build-to-order (BTO) projects.
He noted that BTO applicants stand a higher chance of being asked to select a flat when the subscription rate is lower.
As he mentioned on his blog on Sunday, when the application rate for a BTO project is about two, almost all applicants get a chance to select a unit.
Therefore, there is value in having a 'sufficient critical mass' for launches, Mr Khaw told reporters. In the past, HDB would roll out smaller batches of flats but many people would flock towards them and unsuccessful applicants would be disappointed, he said.
'You must push out more, and a wider range. That's the key,' Mr Khaw said. HDB has started doing that - it combined BTO launches originally planned for June and July and released around 3,600 new flats last week.
HDB will continue to merge launches and the next one is likely to take place in September. 'That will do a lot to calm the market and reduce disappointment,' he said.
What was striking about last week's BTO launch was not just its size, but also the prices of the flats released, which appeared lower than those in earlier BTO projects.
For instance, the indicative selling price (excluding grants) for five-room flats started from $274,000 in last week's launch, but the starting price was $335,000 in May's launch.
Mr Khaw stressed that many factors, such as location, affect the prices of new flats and direct comparisons would not be appropriate.
But he acknowledged: 'What I'm trying to achieve at this stage is to try to stabilise the pricing. So you can largely see that the prices are not increasing, but they are also not dropping sharply.'
The priority is to stabilise the market and 'hopefully that will be reassuring to Singaporean buyers and young couples,' he added.