Modest Take-Up Rate for Two-Room Flexi Flats

The new Two-Room Flexi Scheme saw a modest take-up rate on the first day of the Housing Board sales exercise. As of 5pm on 17 Nov, there were 364 applicants for 2,093 two-room flexi units available, a ratio of about one applicant to every five units.

However, experts interviewed by The Straits Times still expect strong demand for the Two-Room Flexi Scheme as there have been many requests from older buyers for more flexible leases.  

Units under the Two-Room Flexi Scheme, which merges and replaces the previous two-room flat and studio apartment schemes, come in two sizes - 36 sq m and 45 sq m. They are available on 99-year leases or on short leases of 15 to 45 years for eligible buyers aged 55 and above.

Two-room flexi units make up almost 30 per cent of flats offered in this Build-To-Order (BTO) exercise and are located in five of six towns available to ensure a broad range of options and locations to meet demand, said National Development Minister Lawrence Wong in a Facebook post yesterday (17 Nov).

For BTO two-room flexi units, at least 40 per cent - subject to a minimum of 100 units - are for the elderly. Half of this quota is set aside for buyers of flats near their current home or married child, under the new Senior Priority Scheme. The two-room flexi units also make up more than one in five of the 5,350 flats on offer in the concurrent Sale of Balance Flats (SBF) exercise.

For the first time, singles can buy two-room flats in SBF exercises, apart from BTO exercises. Half of the remainder from BTO launches, after setting aside flats for the elderly, and 5 per cent of the remainder in SBF exercises are set aside for non-elderly singles.

Will you consider buying a flat under the Two-Room Flexi Scheme? Share your thoughts with us!

Source: “Lukewarm demand for two-room flexi flats” (The Straits Times, 18 November 2015)

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