Healthy Response to Bumper Launch of HDB Flats

At least 2,100 families and 220 singles that applied for new Housing Development Board (HDB) flats this month were newly eligible due to increased income ceilings. 

National Development Minister Lawrence Wong said on his blog yesterday (26 Nov) that this showed how changes have benefited buyers. It was the first launch combining some 12,000 flats from the September and November sales exercises with new income ceilings of $12,000 for families and $6,000 for singles. 

Flats in Bidadari were the most popular. As of 5pm yesterday, there were 3,283 applicants for 151 five-room flats, almost 22 applicants per unit. Four-room flats had more than 5 applicants per unit. Flats in the non-mature estates of Punggol, Bukit Batok, Hougang and Sengkang saw application rates of 0.9 to 4.3 for various flat types.

For the new two-room flexi scheme, more demand came from singles rather than the elderly. But Minister Wong said the response from elderly buyers was "encouraging", with more than 1,400 applicants for the 966 units set aside for them.

The overall Build-To-Order (BTO) application rates as of 5pm yesterday were 2.6 for two-room flexi flats and 3.3 for three-room and bigger flats. Property experts said the overall application rate suggests that there is still strong demand despite the huge launch of flats. 

To meet demand, Minister Wong wrote that more flats would be launched in Bidadari next year. February's BTO launch will offer 1,580 flats in Bidadari, 1,650 in Bukit Batok and 920 in Sengkang.

Do you think it may now be easier to buy your home? Share your thoughts with us!

Source: “Higher income ceilings benefit over 2,000 BTO applicants” (The Straits Times, 27 Nov 2015);
“More Bidadari flats to meet strong demand” (TODAY, 26 Nov 2015)

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