Over 26,000 applications for 8,000 flats

Applications for the latest sale of Housing and Development Board (HDB) flats were 3.25 times oversubscribed.

As the deadline for applications drew to a close on Tuesday, the HDB received some 26,000 applications for the 7,978 flats released for sale last week.

Minister for National Development Khaw Boon Wan said in his latest blog post that the application rates have been reassuring.

For flats in mature estates, the overall first-timer application rate for the Build-To-Order flats was 2.1 while that for Sale of Balance Flats was 1.9.

He said this means first-timers continue to enjoy a high chance of securing their first flat.

In non-mature estates, the first-timer application rate of 1.8 for BTO flats is even more reassuring. Those who applied are almost assured of a flat.

Mr Khaw said more second-timers will also be able to select a flat.

Their application rate dropped from 20.7 in the January BTO exercise to a single-digit level of 6.7 in the latest exercise.

He added that many made use of the priority schemes which enable married children and parents to stay close to each other.

Mr Khaw also said the elderly responded well to the supply of studio apartments and the Ageing-in-Place Priority Scheme to right-size and age in a familiar environment.

One-third of the applications for studio apartments were from the elderly who are already living in the estate or moving to stay near their children in the same estate.

Source : Channel NewsAsia – 3 Apr 2012

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