Wednesday, November 21, 2012

HDB has launched 6,463 BTO flats for sale on November 21st 2012

Housing Development board (HDB), the statutory board of the Ministry of National Development responsible for public housing in Singapore, has launched 6,463 units of Studio Apartments, 3-, 4- and 5-room flats in various locations today. The flats are in seven new Build-To-Order projects – Keat Hong Mirage in Choa Chu Kang, Compassvale Mast and Rivervale Delta in Sengkang, Fengshan GreenVille in Bedok, Ghim Moh Edge in Queenstown, Joo Seng Green and Toa Payoh Crest in Toa Payoh.

With these flats, total number of new BTO (public housing units) released will be 27,084, which is the largest BTO supply in a year since the system was introduced in 2002. Add the 7,153 Sale of Balance flats released in March 2012 and September 2012, HDB has launched a total of 34,237 public housing flats this year.

In January 2013, HDB will offer about 3,320 BTO flats in Ang Mo Kio, Choa Chu Kang, Hougang, Kallang Whampoa, Tampines and Yishun. HDB is planning for at least 20,000 BTO flats in 2013.

BTO stands for Build-To-Order and the system originally released projects after a predefined number of preorders were collected (this build to order). But since last year, in response to a severe public housing supply crunch, HDB has changed strategy to release BTO flats without waiting for the orders or ahead of the orders.

Fengshan GreenVille
Artist's impression of Fengshan GreenVille in Bedok,
one of the BTO projects, launched in November 2012
According to HDB's press release, first-timers will continue to have priority flat allocation with at least 95% and 85% of the BTO flat supply (excluding Studio Apartments) set aside for them in mature towns and non-mature towns respectively. The Multi-Generation Priority Scheme (MGPS) will be available to those applying for flats at Fengshan GreenVille, Ghim Moh Edge and Toa Payoh Crest. Elderly flat owners in Bedok, Queenstown and Toa Payoh will also enjoy doubled balloting chances under the Ageing-In-Place Priority Scheme (APPS) when they apply for a Studio Apartment in Fengshan GreenVille, Ghim Moh Edge and Toa Payoh Crest.

In The Multi-Generation Priority Scheme (MGPS), married individuals can submit a joint application with their parents to purchase a studio apartment or two-room flat with another flat of at least two rooms in the same project. In The Ageing-in-Place Priority Scheme (APPS), elderly flat owners get doubled balloting chances.

Applications for new flats launched can be submitted online from today, 21 Nov 2012 (Wednesday) to 27 Nov 2012 (Tuesday).

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