More first-timers successful in latest BTO selection

National Development Minister Khaw Boon Wan has said many first-timers have succeeded in selecting flats under the Build-to-Order (BTO) scheme under the Housing and Development Board’s ramped-up building programme.

He said first-timers’ application rates appear to be within a “promising range”, based on the pattern in the latest batch of Build-to-Order (BTO) flats launched on Thursday.

He said that if this is sustained over the next few days, he is optimistic of helping second-time applicants next year.

Mr Khaw made these points on Friday in his blog on the last batch of BTO flats launched for the year. The BTO selection exercise will end on November 30.

He described the launch of 4,200 new HDB flats as a “bumper crop” that will bring the total for 2011 to 25,200 units.

Excluding studio apartments reserved for seniors, up to 3,600 units are available for selection by newlyweds who are first-time applicants.

Mr Khaw said that with the ramped-up BTO programme, many first-timers have succeeded in selecting their flats.

He said this paves the way for tweaking the BTO balloting rules so that more second-timers can also succeed.

He has asked the HDB to compute the BTO application rates for first-timers and second-timers separately on its InfoWEB site, starting from the current BTO launch.

During the one-week application period for BTO launches, the HDB will regularly update the application rates for each project and flat type.

Mr Khaw said such increased clarity should help home buyers make an informed decision, since the application rates vary among different projects.

Source : Channel NewsAsia – 25 Nov 2011

Join The Discussion

Compare listings