May BTO application rate quite encouraging: Khaw

National Development Minister Khaw Boon Wan has described the application rate for the May BTO as “quite encouraging”.

He said in his blog on Tuesday evening that as at 5 pm, the overall application rate is 2.5.

He said based on the responses in the recent Build-to-Order (BTO) launches, first-timers are enjoying a high chance of getting their first homes while chances for second-timers have improved significantly.

In the May BTO launch, the application rate for first-timers is 1.6.

It’s lower than the 2.2 in the March BTO, and is similar to the 1.6 in January this year, and November last year.

In non-mature estates, the first-timer application rate is even lower – at 1.3, compared with 1.9 in March.

For second-timers, the application rate in non-mature estates is at 7.3, similar to the rate of 7 in March.

Mr Khaw said the overall second-timer application rate is also at a single digit level of 8.8, lower than the rate of 10.8 in March.

He said if first-timer application rates hold steady at below 2, he’ll be able to help even more second-timers get their new flats.

He said the May BTO test results give him the confidence that there’s steady progress.

Turning to the selection results of the March launch for the Toh Yi studio apartments, Mr Khaw said the project proved popular, even though it was controversial.

Some residents were unhappy, saying the site is unsuitable as it is on a slope and would be a steep climb for the elderly.

Others said the view from their flats would be blocked when the apartments are built.

Mr Khaw pointed out that about 220 applied for the 132 units.

Among them, 12 per cent are Toh Yi residents.

Mr Khaw said the new Ageing-in-place Priority Scheme has ensured that all the Toh Yi residents who applied got a chance to select a unit.

He said this is a “truly cheerful result”.

Source : Channel NewsAsia – 5 Jun 2012

COMMENTS