Applicants stand better chance in latest HDB sale

Applicants stand better chance in latest HDB sale

 

The latest Housing Board sale of new flats in Woodlands attracted three applicants for every flat on offer.

 

This shows that recent new rules designed to deter frivolous applications appear to be working, said the executive director of HSR property group, Mr Eric Cheng.

 

He said demand for the latest flats was still strong, but genuine buyers have a good chance of getting a unit.

 

In the past, some HDB sales attracted more than 10 applicants for every flat on offer. But the actual take-up rate was often quite low, prompting concerns about frivolous applications.

 

The HDB said it had received 1,197 applications for the 382 build-to-order (BTO) flats on offer. The Marsiling units comprise of 50 three- room flats and 332 four- room flats.

 

The three-room flats, with an indicative price range of $116,000 to $164,000, attracted 153 applications.

 

There were 1,044 applications for four-room units. Their indicative price is between $184,000 and $257,000, according to the HDB. If the actual take-up rate is strong, the board will proceed to build the flats.

 

The demand is close to that for an earlier batch of 1,485 premium flats in Punggol and Sengkang, which attracted 4,050 applications.

 

These exercises follow the Government’s move late last month to change application rules. A first-time buyer who rejects an offer to buy a flat twice at HDB’s BTO or balloting sale exercises will now lose his first-timer priorities for a year.

 

This means he will be put at the back of the queue with the second-timers.

 

Source: Straits Times