8,000 flats to be launched Wednesday

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http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20120327-336064.html

Tuesday, Mar 27, 2012

AsiaOne

8,000 flats to be launched Wednesday


8,000 flats will be launched by the Housing Development Board (HDB) on Wednesday through a joint Build-to-Order (BTO) and Sale of Balance Flats exercise.

Minister for National Development Khaw Boon Wan said on his blog that the flats will be launched in mature and non-mature estates and cover the full range of flat types.

"With the wide range of flats offered, flat buyers will be able to apply for one that best meet their needs, and in an estate of their choice," he said.

However, Mr Khaw said demand for the flats is expected to be strong and that those who want to have a better chance of getting their flats should widen their choice and consider applying for a BTO flat in the non-mature estates.

Local news reports said the new flats will be in estates such as Bukit Timah, Bedok and Clementi.

Mr Khaw said the results of the launch will help HDB calibrate the BTO rules for future launches so that policy objectives are met.

"Our priority remains to help first-timers get their first HDB flat as quickly as possible, so that they can proceed to start their family," he said.

The HDB announced a slew of measures early this month to aid various groups of home buyers, including the enhanced Married Child Priority Scheme and a new Multi-Generation Priority Scheme to let married children live with or near their parents.

Other schemes introduced included Ageing-in-Place Priority Scheme and a Silver Housing Bonus Scheme to help the elderly stay on in familiar neighbourhoods.

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[reporter2]

http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20120328-336119.html

Wednesday, Mar 28, 2012

my paper

New bumper crop of 8,000 flats

By Sophie Hong


THE Housing Board (HDB) is launching a bumper crop of 8,000 flats today, through a joint Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise.

These flats are located in mature and non-mature estates such as Bedok, Toa Payoh and Bukit Timah, and cover the full range of flat types.

National Development Minister Khaw Boon Wan made the announcement yesterday on his blog, Housing Matters (mndsingapore.wordpress.com).

In a post titled A Bumper Launch To Support Strong Families With Babies, he said: "With the wide range of flats offered, flat buyers will be able to apply for one that best meets their needs, and in an estate of their choice."

The exercise comes after new measures to help various groups of home buyers were announced during the Budget debate in Parliament earlier this month.

In the post, Mr Khaw also said that he will monitor the application rates for flats to see how Singaporeans are responding to the initiatives.

"Clearly, nothing is cast in stone," he said. "The results of the launch will help us calibrate the BTO rules for future launches, to ensure that policy objectives are met."

He added that the priority is still to help first-time home buyers get their first flat quickly, so that they can proceed to start a family.

He urged applicants to consider applying for a BTO flat in non-mature estates for a higher chance of success, as demand for the flats in mature estates is expected to be strong.

Units up for grabs in the latest launch range from studio apartments to five-room flats.

Mr Khaw said: "We can expect strong demand for the completed and near-completed flats in the mature estates.

"So those who want to have a better chance of success should widen their choices and consider applying for a BTO flat in the non-mature estates."

An enhanced Married Child Priority Scheme will also take effect today.

As mentioned by Mr Khaw during the Budget debate, the enhanced scheme will increase ballot chances for married couples who opt to live with their parents.

Before the adjustments, married couples living with or within 2km of their parents and who are first-time buyers would get four ballot chances, while second-timers would get two ballot chances if they apply for a flat under the scheme.

Under the new rules, ballot chances for first-timer couples rise to six and that for a second-timer three, if they live with their parents in their new flat.

Two new schemes introduced in Parliament also take effect today.

The first is the Multi-Generation Priority Scheme, which enables married couples and their parents to submit a joint application for a flat and a nearby studio apartment or two-room flat.

The other is the Ageing-in- Place Priority Scheme, which doubles the balloting chances for elderly applicants if they are applying for a studio apartment within 2km of their current home.

Balloting chances for BTO flats in non-mature estates for second-timers are also tripled.

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Income ceiling raised for 2-room flats

Singaporean households whose incomes exceed $2,000 will now have an additional housing option.

HDB is raising the income ceiling for 2-room flats in mature towns/estates from $2,000 to $5,000 per month.

The income ceiling for 2-room flats in non-mature estates will remain at $2,000 to safeguard these flats for low-income families.

More flats in the pipeline

In its statement, HDB gives the assurance that if demand persists, it will continue to build flats.

To this end, HDB explains that to protect the interest of serious home buyers, it needs to ensure that the flats are only allocated to serious buyers. Thus, buyers are required to pay a nonrefundable booking fee when they select a unit and a 10 per cent downpayment when they sign the agreement.

To further discourage buyers who book a flat but subsequently cancel their booking, applicants will not be allowed to apply or be included as an essential occupier for a new HDB flat/DBSS flat/Executive Condominium unit or a resale flat with housing grants, within one year from the date of cancellation. This requirement will, however, be waived in exceptional circumstances beyond the control of the applicants.

HDB also advises flat buyers to apply for a BTO flat in non-mature towns/estates to enjoy a higher chance of success in securing a flat.

It is slated to launch 4,640 BTO flats for sale in Choa Chu Kang, Kallang Whampoa, Punggol and Sengkang in May 2012.

With additional reporting by AsiaOne