HDB tweaks rules to protect serious buyers, will launch
4,640 flats in May
SINGAPORE: The Housing and Development Board (HDB)
has tweaked its rules to discourage buyers who book a flat but
subsequently cancel their booking, in a move designed to better
protect the interests of serious home buyers.
Such applicants who cancel their booking cannot,
within one year from the date of cancellation, apply or be included
as an essential occupier for a new HDB flat, DBSS (Design, Build
and Sell Scheme) unit, Executive Condominium unit, or a resale flat
with housing grants.
The requirement will be waived in exceptional
circumstances beyond the control of the applicants.
The HDB hopes this will ensure that the flats are only allocated to
serious buyers.
Currently, buyers only have to pay a non-refundable booking fee
when they select a unit and a 10-per cent downpayment when they
sign the agreement.
The HDB said it has seen a steady increase in the number of flat
booking cancellations over the last five years - from 309 in 2007
to 1,540 cancellations in 2011.
It said one of the reasons for the increase is the higher BTO
supply in recent years.
The cancellations form five to six per cent of Build-to-Order (BTO)
supply.
The applicants cite various reasons for cancellation, such as a
change in housing plan and intention to buy another flat.
In order to help some families enjoy greater access to two-room
flats, the HDB is also raising the income ceiling for two-room
flats in mature towns and estates from S$2,000 to S$5,000 per
month.
The move provides an additional housing option for households who
prefer to live in mature estates, but whose monthly income exceeds
S$2,000.
The HDB also said it will be offering 4,640 BTO flats for sale in
Choa Chu Kang, Kallang/Whampoa, Punggol and Sengkang in May.
It has ramped up flat supply substantially, to some 50,000 units in
two years, to meet housing needs and will continue to build more if
demand persists, the HDB said.
The HDB also launched on Wednesday 7,978 flats for sale under BTO
and Sale of Balance Flats (SBF) exercises for March.
The public housing authority continues to place priority on
first-time flat applicants.
In the March launch, 4,153 units are new flats in eight BTO
projects and 3,825 are SBF flats in 26 towns and estates. Of these,
1,739 of the BTO flats in mature estates and 3,609 SBF flats will
render top priority for first-timers.
The HDB said 95 per cent of these flats will be reserved for
them.
At the same time, the HDB is enhancing housing options for
second-time home-buyers, married children and parents wanting to
live with or near each other, as well as the elderly who want to
age in a familiar environment and families preferring two-room
flats in mature estates.
For second-timers, the chances of securing a flat will be tripled
from 5 per cent to 15 per cent for 2,094 BTO flats in non-mature
estates. The proportion of these flats reserved for first-timers
will be reduced to 85 per cent.
The HDB said the chances of first-timers will not be too greatly
affected, after successive massive BTO launches in the past one
year.
The HDB also said there will be more housing options in mature
estates, with 3,174 flats in the March launch located in such
estates. These include 397 studio apartments and 366 units of
two-room flats.
More choices will be provided for married children wanting to stay
near their parents, the elderly who want to remain in the same town
or estate, as well as families preferring two-room flats in mature
estates, the HDB added.
To help married children and parents live with or near each other,
the HDB introduced the Multi-Generation Priority Scheme (MGPS) at
Ping Yi Greens in Bedok.
The scheme gives priority allocation to married children and their
parents who jointly apply to live near each other. Married children
can apply to buy a two-room, three-room or four-room flat at Ping
Yi Greens, while their parents can apply to buy a two-room flat in
the same project.
The HDB has also enhanced the Married Child Priority Scheme (MCPS)
to increase the number of ballot chances a married child receives
if he applies to live with his parents. Such an applicant will now
receive six ballot chances if he's a first-timer, and three ballot
chances if he's a second-timer.
To help the elderly to age in a familiar environment, the HDB has
introduced Ageing-in-Place Priority Scheme (APPS) to give priority
to seniors living in the same town/estate or within two kilometres
of the project they apply for.
Seniors applying under the scheme will receive two ballot chances,
instead of one. If they are also applying to live near their
married child under MCPS, they will receive four balloting chances
altogether.
- CNA/wm/fa
