National Development Minister Khaw Boon Wan has elaborated on who were the successful applicants in the Build-To-Order (BTO) exercises from January to March this year.
In his latest blog entry, Mr Khaw said when an application rate is about 2, which means two applicants for one unit, almost all applicants will get a chance to select. This is because not all who are asked to select do so.
For the January BTO, practically all first-timers got to select a flat. Even second-timers got an 84 per cent chance to select.
But when the application rate increased to 5 or 8, the chances fell significantly, especially for second-timers.
Mr Khaw said that the HDB is ramping up BTO launches to reduce the application rate, and hence raise the chances for applicants.
Mr Khaw also explained that the HDB loads the balloting in favour of first-timers.
This means that for the February BTO, first-timers were 3 to 5 times more likely to be selected than second-timers.
Mr Khaw also said that the HDB loads the balloting in favour of those who had not been successful in earlier BTO launches to improve their chances of being able to select a flat.
Balloting rules try to help applicants who have failed in earlier BTO launches by giving them additional chances. Every first-timer has 2 or more chances of being selected.
Mr Khaw added that the HDB is trying to offer larger BTO launches so that it provides more choices and reduces the odds of repeated disappointment.
Source : Channel NewsAsia – 17 Jul 2011