HDB says BTO flats to constitute main supply going forward

HDB says BTO flats to constitute main supply going forward

By Channel NewsAsia | Posted: 10 April 2008 1245 hrs


SINGAPORE: The Housing and Development Board (HDB) said build-to-order (BTO) flats will constitute the main supply of new flats going forward.

The BTO projects will only commence when a majority of the units have been booked to avoid over-building.

HDB also said it is the norm that buyers have to wait about three years before the new flats are ready.

Between now and September, HDB plans to offer 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

This brings the total planned BTO supply for the first nine months of the year to 6,100 units, surpassing the number of BTO flats launched in the whole of last year and in 2006.

HDB also said it will refine its combined balloting/walk-in system starting July.

The supply of unsold four-room and bigger flats, currently grouped under three sectors - North and West, Northeast and established towns - will be consolidated under a single launch.

The sales exercises will also be re-structured.

The sale of three-room and smaller unsold flats will be conducted once a quarter, starting from July.

For three-room premium, four-room and bigger flats, the sales exercise will be conducted once every six months from October onwards.

With the refinements, a larger supply of unsold flats will be offered for sale under each launch.

Starting July, HDB will also offer first-timers priority status for these sales exercises, and 90 per cent of the flat supply will be set aside for first-time applicants.

First-timers will also enjoy double chances over regular applicants under the ballot to determine their queue position. - CNA/ac

That will be $500 psf ?

Quote:

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Originally Posted by Unregistered

That will be $500 psf ?

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Why do you say that?

April 10, 2008

HDB revises sales scheme as stock of flats falls

By Joyce Teo


THE Housing Board will be selling unsold flats on a quarterly and half-yearly basis, instead of on a bi-monthly and monthly basis.

Announcing this change on Thursday, the HDB said this is because of the progressive reduction of its unsold stock.

From July 1, the HDB will sell three-room and smaller unsold flats once a quarter. The bigger flats - three-room premium and above - will be sold in a half-yearly exercise starting from Oct 10.

Also, HDB will consolidate the supply of unsold four-room and bigger flats under a single launch. They were previously grouped under three sectors - North & West, Northeast and Established towns.

A larger supply of unsold flats will thus be offered for sale under each launch, said the HDB.

There is good news for first-time buyers. Responding to public feedback, the HDB will now set aside 90 per cent of the flat supply in these exercises for first-time applicants. They will also enjoy double chances over regular applicants under the ballot to determine their queue position.

New unsold flats on offer

The HDB on Thursday also launched the sale of 490 four-room and bigger flats in the North and West zones under the April bi-monthly sale exercise. This lot consists of 76 four-room flats, 371 five-room flats and 43 executive flats.

They are in various towns such as Bukit Batok, Jurong East and Yishun.

April 11, 2008

HDB to sell unsold flats on a less frequent basis

By Joyce Teo, Property Correspondent


NOT so long ago, unsold Housing Board flats were so plentiful that home buyers could simply walk in and buy a completed unit.

But with fast dwindling stocks, the HDB is streamlining the system for launching batches of unsold flats.

Starting July 1, it will hold fewer launches - but each launch will boast more flats.

It will sell three-room and smaller unsold flats once every three months, instead of once a month. And the bigger flats - three-room premium and above - will be sold half-yearly starting Oct 10, instead of every two months.

Property market observers say this will make life easier for urgent home buyers.

PropNex chief executive Mohamed Ismail said it will help unsuccessful buyers avoid the anxiety of having to re-apply for a dwindling pool of unsold flats every month or two.

An economic downturn in the late 1990s resulted in the excess stock of unsold flats.

'With the progressive clearance of these unsold flats, the number of ready-built flats available for sale will decline and the sales launches for unsold flats will become less frequent over time,' said the HDB in a statement yesterday.

HDB launched the final bi-monthly sales exercise yesterday.

Already, demand is strong. As at 5pm, 1,752 applications had been made for 490 four-room and bigger flats in the north and west zones. The 76 four-room flats, 371 five-room flats and 43 executive flats are in various towns such as Bukit Batok, Jurong East and Yishun.

From now on, the board will also be consolidating the supply of unsold four-room and bigger flats in a single launch. They were previously grouped under three sectors - north and west, north-east and established towns.

There is also good news for first-time buyers. Responding to public feedback, the HDB will now set aside 90 per cent of the flat supply in these exercises for first-timer applicants, similar to its practice for the build-to-order (BTO) scheme.

They will also enjoy double the number of chances compared to regular applicants under the ballot to determine their queue position.

Still, HDB encourages those needing a flat urgently or wishing to live in mature estates to con- sider a resale flat.

But not all home-hunters can afford a resale flat as they cost more and typically, require a fairly large cash-over-valuation sum, agents said.

Serious buyers should look to the BTO system, where projects are built only when a majority of units are booked, as this will be the main way the HDB will sell new flats from now on.

The catch is that buyers have to wait about three years for their flats to be built.