The huge number of applications for the 7,978 Build-to-Order (BTO) and balance flats released a week ago has exceeded supply by over three times. Applications reached about 26,350 a few hours before closing yesterday.
Balance flats drew the most interest with the subscription rate at 3.8 due to the fact that most units are ready-built and located in mature estates.
Application rates for BTO flats stood at 2.9, with the larger four- to five- roomers seeing strong interest.
Khaw Boon Wan, Minister for National Development, said in his latest blog post that the data is ‘reassuring’, as “the application rates suggest that our policies are responding well to the diverse needs of our flat buyers.”
Set aside mainly for first-timers, “more flats in mature estates were offered to help newlyweds stay near their parents. Despite the popularity of these flats, overall first-timer application rates for the BTO and SBF flats remain at 2.1 and 1.9 respectively,” Mr Khaw said.
He added that the high application rate of 1.8 for BTO flats in mature estates was also reassuring.
“Those who applied for these BTO flats are almost assured of a flat, even though we have tripled the chances of second-timers.”
Meanwhile, the application rate for second-timers in non-mature estates declined to 6.7 from 20.7 in January’s BTO exercise.
In addition, several applicants have applied for the priority schemes enabling married children to stay close to their parents. About 30 percent of the applicants also took up the Married Child Priority Scheme (MCPS) while eight pairs of parents with their married children have made use of the Multi Generation Priority Scheme (MGPS) for the BTO flats in Bedok.
The elderly have also responded positively to the Ageing-in-Place Priority Scheme (APPS) and supply of studio apartments (SA).
“Overall, application data to the bumper launch has been reassuring. We will continue to calibrate our rules to help as many buyers as possible,” noted Mr Khaw.
Balance flats drew the most interest with the subscription rate at 3.8 due to the fact that most units are ready-built and located in mature estates.
Application rates for BTO flats stood at 2.9, with the larger four- to five- roomers seeing strong interest.
Khaw Boon Wan, Minister for National Development, said in his latest blog post that the data is ‘reassuring’, as “the application rates suggest that our policies are responding well to the diverse needs of our flat buyers.”
Set aside mainly for first-timers, “more flats in mature estates were offered to help newlyweds stay near their parents. Despite the popularity of these flats, overall first-timer application rates for the BTO and SBF flats remain at 2.1 and 1.9 respectively,” Mr Khaw said.
He added that the high application rate of 1.8 for BTO flats in mature estates was also reassuring.
“Those who applied for these BTO flats are almost assured of a flat, even though we have tripled the chances of second-timers.”
Meanwhile, the application rate for second-timers in non-mature estates declined to 6.7 from 20.7 in January’s BTO exercise.
In addition, several applicants have applied for the priority schemes enabling married children to stay close to their parents. About 30 percent of the applicants also took up the Married Child Priority Scheme (MCPS) while eight pairs of parents with their married children have made use of the Multi Generation Priority Scheme (MGPS) for the BTO flats in Bedok.
The elderly have also responded positively to the Ageing-in-Place Priority Scheme (APPS) and supply of studio apartments (SA).
“Overall, application data to the bumper launch has been reassuring. We will continue to calibrate our rules to help as many buyers as possible,” noted Mr Khaw.
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