HDB draws curtains on bi-monthly flat sales

THE Housing and Development Board (HDB) received 5,700 applications for 490 flats in its final bi-monthly sale of four-room and larger units that closed on Wednesday.

Bi-monthly sale exercises attract more applicants and a higher take-up rate, as the flats on offer are either completed or nearing completion, said the HDB.

But with the progressive clearance exercises of unsold flats, fewer units are left available on a walk-in basis — and, as earlier announced, the HDB will offer its three-room premium and larger flats under half-yearly sale exercises, instead of bi-monthly.

Prospective buyers are advised to opt for the Build-to-Order (BTO) system — in which flats take about three years to complete — that make up the main supply of new flats.

From this month until September, the HDB plans to offer 5,000 new BTO flats in Punggol, Sengkang, Woodlands and Bukit Panjang.

Demand had been high at recent BTO sales, noted the HDB, but a significant number of applicants did not buy a flat.

Hence, as it previously announced, the board is reviewing the system to discourage non-serious applicants from crowding out those with more pressing housing needs.

For example, 1,284 applications were received for the 698 flats offered under the Coral Spring project in Sengkang last September but more than 200 flats were left unsold after the exercise.

Source : Today – 18 Apr 2008

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