Thursday, April 18, 2024
Homesingapore2 prime location projects in Kallang, Tanglin Halt among 6,800 units launched...

2 prime location projects in Kallang, Tanglin Halt among 6,800 units launched in October BTO exercise

SINGAPORE — Two prime location projects located in Kallang and Tanglin Halt were launched in the October Build-to-Order (BTO) exercise.

TIGHTER RULES FOR NON-SELECTION

HDB is tightening the rules for non-selection of flats starting from this launch, to ensure more efficient flat allocation so that those who urgently need a house can secure one more quickly.

These changes will not apply to applications submitted in earlier exercises.

First-timer families, including those under the First-Timer (Parents and Married Couples) category, who incur one non-selection count will be considered second-timers for one year in the computer ballot.

Meanwhile, second-timer families and first-timer singles who incur one non-selection count will have to wait one year before they can submit an application for a new flat.

Adjustments will also be made to the application process from this exercise onwards.

Applicants for BTO or sale of balance flats (SBF) who have received a queue position within the flat supply will not be eligible to apply for a flat in subsequent exercises until after their flat booking appointment.

“This will ensure that we do not crowd out other BTO applicants who have not secured a queue position and improve their chances in securing a flat,” HDB said.

For applicants who incur a non-selection count in a BTO or SBF exercise, the housing board will cancel any existing applications made for subsequent exercises.

“For example, those who are able to apply for both the October 2023 and December 2023 exercises, and subsequently incur a non-selection count for their October 2023 flat application will have their December 2023 flat application cancelled,” it said.

“While such applicants can continue to apply for future BTO/SBF sales exercises, the non-selection count will be accounted for in their applications.”

This is to prevent “unfair advantage” for such applicants, who would otherwise enjoy multiple balloting opportunities and greater priority for their applications, said HDB.

Ms Sun expects a drop in applicants due to these tightened rules, as “ those not ready to commit to a purchase or are uncertain about their buying decision will unlikely apply for a flat now”.

These may include young couples unprepared for marriage or considering other housing options, she added.

“Moreover, applicants will need to put more thought into their decisions,” she said. “They must consider carefully if they will still proceed with the purchase if they obtain an undesirable queue number.

“Young couples who do not want to jeopardise their future chances of getting a well-located flat will likely not apply flippantly now.”

NEW PRIORITY CATEGORY

A new priority category of buyers, called the First-Timer (Parents and Married Couples) category, will also be effective starting from the October exercise.

HDB said this enhances the support for this subset of first-timer families buying their first home, as well as to help them settle down more quickly.

Applicants need not submit a request  as HDB will assess and inform buyers on their eligibility after they submit their flat application.

“On top of receiving an additional ballot chance, FT(PMC) applicants applying for four-room and smaller BTO flats in non-mature estates will be given first priority under the Family and Parenthood Priority Scheme (FPPS),” HDB said.

“This means that they will be shortlisted ahead of all other FPPS-eligible applicants, and stand a higher chance of being invited to select a flat.”

Up to 40 per cent of the public flat supply in each BTO exercise is set aside for the FPPS, it added.

The housing board advised applicants who wish to improve their chances of securing a flat to apply for one in the non-mature estates of Choa Chu Kang and Tengah, where at least 95 per cent of the larger units are set aside for first-timer families.

Applicants should also look out for projects with lower application rates to improve their chances of success, HDB said. They should also plan out their finances and work out their budget so that they can select a suitable flat based on their budget, needs and preferences.

With fewer applicants expected to apply after the non-selection penalty is implemented, serious buyers and FT(PMC) applicants may have a higher chance of getting a flat, said Ms Sun.

“Moreover, first-time families with children are given an extra ballot, and more flats will be set aside. However, this group of buyers may be small,” she said.

Eligible first-timer families can also benefit from an enhanced Central Provident Fund (CPF) Housing Grant of up to S$80,000.

Flat applications can be made online via the HDB Flat Portal from Wednesday to Oct 10.

The next BTO exercise will be in December. There will be about 6,000 flats on offer, located in towns and estates such as Bukit Panjang, Jurong West, Woodlands, Bedok, Bishan, Bukit Merah and Queenstown. CNA

For more reports like this, visit cna.asia.

RELATED ARTICLES
- Advertisment -

Most Popular