About 10,000 balance flats with HDB

The Housing Development Board (HDB) has about 10,000 balance flats currently, with about 3,000 units in mature estates. About 4,000 units are three-room and smaller flats.

These flats are planned to be released in two batches of about 5,000 units each, to offer more choices of flat types in various locations and give applicants a better chance of success for each exercise.

Minister of State for National Development Maliki Osman said this in response to questions in Parliament from Pasir Ris-Punggol MP Gan Thiam Poh on unsold flats, and whether HDB will consider conducting a Sale of Balance Flats exercise quarterly instead of twice a year.

“The current practice to offer BTO flats twice a year is to make sure that we can consolidate a larger pool of flats to make available,” said the minister. “If we do it quarterly, then the number of flats would be fewer and the choices and options for applicants will be lower.

“Nonetheless, we will continue to review and fine-tune this process to make sure that it continues to support this stable housing market that we have.”

Source : Channel NewsAsia – 13 Feb 2015

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