SINGAPORE - Releasing the application figures and other statistics for the Housing and Development Board's recent launch of Build-to-Order (BTO) and Sale of Balance Flats (SBF) - its biggest ever - National Development Minister Khaw Boon Wan noted yesterday that "almost all" the applicants will be successful.
Writing on his blog, Mr Khaw noted that except for certain flat types in three projects, all the other BTO units have application rates of less than two.
Such an application rate would mean that almost all the 6,700 applicants will get the chance to book a flat as not all who are invited to do so would actually do it.
Mr Khaw noted that the launch last month of 5,400 BTO and 2,800 SBF flats - which attracted a total of 27,900 applications - has "redressed part of the shortage in public housing". (Redressed? The piling has not even started yet!)
Said Mr Khaw: "My top priority is to meet the housing needs of newlyweds who are HDB first-timers. After three BTO launches, we are making good progress." Progress? Is he putting in his performance bonus claim for a yet-to-be-started-project?
In all, there were 9,500 applications for the BTO units and 18,400 for the SBF flats. According to Mr Khaw, 6 per cent of the BTO applicants and 10 per cent of the SBF applicants have incomes above S$8,000 and have benefitted from the increased income ceiling of S$10,000. Why not raise the ceiling to $20K? Even more "success" can be achieved).
Said Mr Khaw: "As expected, the SBF flats attracted a high application rate averaging 6.5 times, because many of them are in mature estates and are either completed or close to completion."
Mr Khaw noted that among the applicants for the SBF flats, 37 per cent are first-timers applying for the first time within the last year. Another 32 per cent are second-timers applying also for the first time within the last year. "Many of them would otherwise be hunting for resale flats," said Mr Khaw.
(And the point being.........?)
Noting the wide range in application rates for the SBF flats - the rates ranged from 0.3 to 52 - Mr Khaw noted: "One can therefore improve one's success rate by thinking carefully about which project to apply for."
ERA Realty key executive officer Eugene Lim said the latest BTO application rates vindicated the Government's approach of having huge launches.
But SLP International Property Consultants' head of research, Mr Nicholas Mak, felt that another BTO exercise is needed to gauge the demand.
Said Mr Mak: "The SBF flats drew away a lot of applicants ... so we need to wait for another BTO exercise to see if an application rate of below two can be sustained … or is it something that is a one-off."
- http://www.todayonline.com/Singapore/EDC111004-0000149/Progress-made-in-public-housing-shortage
Writing on his blog, Mr Khaw noted that except for certain flat types in three projects, all the other BTO units have application rates of less than two.
Such an application rate would mean that almost all the 6,700 applicants will get the chance to book a flat as not all who are invited to do so would actually do it.
Mr Khaw noted that the launch last month of 5,400 BTO and 2,800 SBF flats - which attracted a total of 27,900 applications - has "redressed part of the shortage in public housing". (Redressed? The piling has not even started yet!)
Said Mr Khaw: "My top priority is to meet the housing needs of newlyweds who are HDB first-timers. After three BTO launches, we are making good progress." Progress? Is he putting in his performance bonus claim for a yet-to-be-started-project?
In all, there were 9,500 applications for the BTO units and 18,400 for the SBF flats. According to Mr Khaw, 6 per cent of the BTO applicants and 10 per cent of the SBF applicants have incomes above S$8,000 and have benefitted from the increased income ceiling of S$10,000. Why not raise the ceiling to $20K? Even more "success" can be achieved).
Said Mr Khaw: "As expected, the SBF flats attracted a high application rate averaging 6.5 times, because many of them are in mature estates and are either completed or close to completion."
Mr Khaw noted that among the applicants for the SBF flats, 37 per cent are first-timers applying for the first time within the last year. Another 32 per cent are second-timers applying also for the first time within the last year. "Many of them would otherwise be hunting for resale flats," said Mr Khaw.
(And the point being.........?)
Noting the wide range in application rates for the SBF flats - the rates ranged from 0.3 to 52 - Mr Khaw noted: "One can therefore improve one's success rate by thinking carefully about which project to apply for."
ERA Realty key executive officer Eugene Lim said the latest BTO application rates vindicated the Government's approach of having huge launches.
But SLP International Property Consultants' head of research, Mr Nicholas Mak, felt that another BTO exercise is needed to gauge the demand.
Said Mr Mak: "The SBF flats drew away a lot of applicants ... so we need to wait for another BTO exercise to see if an application rate of below two can be sustained … or is it something that is a one-off."
- http://www.todayonline.com/Singapore/EDC111004-0000149/Progress-made-in-public-housing-shortage
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