KBW feel that he is doing a good job so far...., since he see" light at the end of the tunnel"

http://business.asiaone.com/Business...03-303002.html

Govt making 'good progress' to ease housing shortage: Khaw

The latest launch of Build-To-Order (BTO) and Sale of Balance flats last month is 'making good progress' in meeting the housing needs of first-time flat buyers, said National Development Minister Khaw Boon Wan.

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» HDB resale prices up, private property prices moderate
» HDB resale market set to cool

In a blog titled "Light At The End of Tunnel", Mr Khaw weighed up application rates of the Housing Board's (HDB) largest crop of new flats launched and said half of the 15,500 first-time applicants will get flats.

Last month, the HDB released 8,200 flats - of which 5,415 were part of a BTO exercise and 2,847 from a balance flats exercise.


Balance flats are 'leftover' units from previous BTO launches.

The recent BTO exercise saw a lower sign-up rate compared to the balance flats, which were wildly popular. Some mature estates saw 50 times as many buyers as there were units available.

The average application rate for BTO flats was 1.7 times.

Mr Khaw wrote that the lower BTO sign-up rate this time means "almost all the 6,700 applicants who selected these projects will get a chance to select a flat...Let me congratulate the couples in advance!"

He also urged buyers to consider their options carefully before applying for flats, so as to increase the chance at getting the flat they want.

"'Although the Sale of Balance flats application rate averaged 6.5 times, there is a wide range of application rates among these projects ranging from 0.3 times (ie, more flats than applicants) to 52 times.

"One can therefore improve one's success rate by thinking carefully about which project to apply for," wrote Mr Khaw.

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