Flats with Shorter Waiting Time!
Young couples can look forward to shorter waiting times for their BTO flats with the new measures introduced:
- BTO flats will be introduced for selected projects in non-mature towns.
- A new sales mode that pools together flats not taken up from the Sale of Balance Flats (SBF) exercise.
Building Ahead of Launch
The first batch of BTO flats to be built ahead of their sales launch will be available across 3 projects located in Sembawang, Sengkang and Yishun.
Targeted for launch in the 2nd half of 2018, they are estimated to be completed between 4th quarter 2020 and 1st quarter 2021, or approximately 2.5 years from the time of purchase.
By commencing construction ahead of their launch, the waiting time is thus shortened by about a year compared with standard BTO projects with a waiting time of about 3 to 4 years.
First-timer families will enjoy higher priority when applying for these flats. At least 95% of the 4-room and larger flats will be set aside for them – a 10% increase from the current quota in non-mature estates.
The flats will come with floor finishes, internal doors and sanitary fittings, to reduce renovation works needed. All the units will also feature an open kitchen concept where the layout permits. So, home buyers no longer need to make a selection under the Optional Component Scheme (OCS).
Elderly buyers of 2-room Flexi flats with short lease have the flexibility to opt for elderly finishes and fittings under the OCS.
Re-Offer of Balance Flats
HDB is also introducing a new sales mode for unsold flats from August 2017.
This ‘Re-offer of Balance Flats’ (ROF) exercise will pool together unsold flats at the end of each Sale of Balance Flats (SBF) exercise. 95% of the flat supply will be set aside for first-timer families, and up to 5% will be allocated to second-timer families.
The first ROF exercise will offer unsold flats from the November 2016 SBF exercise, and will be launched in conjunction with the August 2017 BTO sales exercise. Interested applicants may apply for either an ROF flat or a BTO flat then.
Know friends and family members who are likely to benefit from the BTO flats with shorter waiting time and the re-offer of balance flats? Share the good news with them!
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July 26, 2017
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