Homepage
PR Newswire
28-03-2012, 08:24 AM
The Straits Times
Mar 28, 2012
8,000 HDB flats launched today
New measures will kick in, including revised quota for second-timers
By Daryl Chin
A BUMPER crop of 8,000 flats will be launched by the Housing Board (HDB) today, as well as a string of initiatives aimed at easing demand among certain buyers and forging closer family ties.
National Development Minister Khaw Boon Wan, who announced the move on his Housing Matters blog yesterday, said these flats are located in both mature and non-mature estates, and will cover a full range of flat types.
At least half of these units will comprise Build-To-Order (BTO) flats in areas such as Bedok, Clementi, Toa Payoh, Geylang, Bukit Batok, Bukit Panjang and Bukit Timah, while leftover flats from previous sales exercises make up the rest.
This launch will also mark the implementation of several new measures announced earlier by Mr Khaw. Chief among them is a shift in focus to second-timers, or those who have already enjoyed a housing subsidy in the past.
'Now that we have largely cleared the queue of first-timers, we can use the ramped-up supply of new flats to help other buyer groups,' wrote Mr Khaw.
The revised quota for second-timers for flats in non-mature estates has been tripled from 5 to 15 per cent, a response to the comparative differences in subscription rates.
In a BTO launch in January this year, for instance, there were 1.5 first-time applicants for every flat available to them. The number of second-time applicants per flat available to them was 23.9.
Besides this, there are enhanced schemes to help married children live with, or near, their parents.
Previously, under the Married Child Priority Scheme (MCSP), a married first- timer would have four ballot chances, and a second-timer two chances, if they opted to live with, or within 2km of, their parents.
The new rules will see their ballot chances rise to six and three respectively, if they choose to live with their parents.
The Multi-Generation Priority Scheme will also see young couples and their parents who buy flats near each other get to choose their flats first.
Two new schemes to help the elderly live in units of a suitable size and age in a familiar environment will also apply in this exercise.
One is the Ageing-in-Place Priority Scheme, where elderly people applying for studio apartments will have double the balloting chances if the new flats are within 2km of their current homes and four times if they are also living near their married children.
The other comes in the form of the Silver Housing Bonus announced during the Budget in February this year, where a $20,000 sum is given to eligible elderly downgraders who move to a three-room flat or smaller. A Ministry of National Development spokesman said more details regarding the eligibility criteria will be announced at a later date.
Market watcher Chris Koh said this launch will be the one to watch, as it will show the market's reaction to the various new measures.
He reckoned more second-timers might jump onto the bandwagon to apply, given the attractive locations. 'New flats in areas like Bedok, Clementi and Geylang don't come by very often, and some second-timers might be willing to fork out the resale levy in order to get a new place,' said the director of Chris International.
House-hunter Malcolm Kok, 27, said he has been eyeing a spot in Clementi ever since he heard that new flats will be launched there. He and his wife currently live in his parents' flat in the same area.
Despite knowing that the competition is stiff, the IT manager remains upbeat about his increased chances under MCSP. 'Living near my parents will mean it's more convenient to spend time with them, and they are close by if anything happens to either of us. It's the best of both worlds,' he said wistfully.
darylc@sph.com.sg
Mar 28, 2012
8,000 HDB flats launched today
New measures will kick in, including revised quota for second-timers
By Daryl Chin
A BUMPER crop of 8,000 flats will be launched by the Housing Board (HDB) today, as well as a string of initiatives aimed at easing demand among certain buyers and forging closer family ties.
National Development Minister Khaw Boon Wan, who announced the move on his Housing Matters blog yesterday, said these flats are located in both mature and non-mature estates, and will cover a full range of flat types.
At least half of these units will comprise Build-To-Order (BTO) flats in areas such as Bedok, Clementi, Toa Payoh, Geylang, Bukit Batok, Bukit Panjang and Bukit Timah, while leftover flats from previous sales exercises make up the rest.
This launch will also mark the implementation of several new measures announced earlier by Mr Khaw. Chief among them is a shift in focus to second-timers, or those who have already enjoyed a housing subsidy in the past.
'Now that we have largely cleared the queue of first-timers, we can use the ramped-up supply of new flats to help other buyer groups,' wrote Mr Khaw.
The revised quota for second-timers for flats in non-mature estates has been tripled from 5 to 15 per cent, a response to the comparative differences in subscription rates.
In a BTO launch in January this year, for instance, there were 1.5 first-time applicants for every flat available to them. The number of second-time applicants per flat available to them was 23.9.
Besides this, there are enhanced schemes to help married children live with, or near, their parents.
Previously, under the Married Child Priority Scheme (MCSP), a married first- timer would have four ballot chances, and a second-timer two chances, if they opted to live with, or within 2km of, their parents.
The new rules will see their ballot chances rise to six and three respectively, if they choose to live with their parents.
The Multi-Generation Priority Scheme will also see young couples and their parents who buy flats near each other get to choose their flats first.
Two new schemes to help the elderly live in units of a suitable size and age in a familiar environment will also apply in this exercise.
One is the Ageing-in-Place Priority Scheme, where elderly people applying for studio apartments will have double the balloting chances if the new flats are within 2km of their current homes and four times if they are also living near their married children.
The other comes in the form of the Silver Housing Bonus announced during the Budget in February this year, where a $20,000 sum is given to eligible elderly downgraders who move to a three-room flat or smaller. A Ministry of National Development spokesman said more details regarding the eligibility criteria will be announced at a later date.
Market watcher Chris Koh said this launch will be the one to watch, as it will show the market's reaction to the various new measures.
He reckoned more second-timers might jump onto the bandwagon to apply, given the attractive locations. 'New flats in areas like Bedok, Clementi and Geylang don't come by very often, and some second-timers might be willing to fork out the resale levy in order to get a new place,' said the director of Chris International.
House-hunter Malcolm Kok, 27, said he has been eyeing a spot in Clementi ever since he heard that new flats will be launched there. He and his wife currently live in his parents' flat in the same area.
Despite knowing that the competition is stiff, the IT manager remains upbeat about his increased chances under MCSP. 'Living near my parents will mean it's more convenient to spend time with them, and they are close by if anything happens to either of us. It's the best of both worlds,' he said wistfully.
darylc@sph.com.sg
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/