SINGAPORE: There are early indications that application rates for Build-to-Order (BTO) flats have "reduced and are stabilising", said the Housing and Development Board (HDB) on Monday (Mar 6), hours before the February sales exercise closes at the end of the day.
More than 4,400 new flats were launched for sale this round, spread across five projects in Kallang Whampoa, Queenstown, Jurong West and Tengah.
"The February 2023 sales launch also saw the lowest overall number of flat applicants, particularly first-timer applicants since the February 2020 BTO sales launch, with this number hovering around half of the number of flat applicants in some of the past 11 BTO sales launches," HDB said, referring to figures as of 11am on Monday.
For instance, a total of 12,493 applicants applied for three-room and bigger flats, of whom 7,513 were first-timers. In comparison, there were 20,252 applicants in February 2020, of whom 14,145 were first-timers, it added,
The median application rates for first-timer applicants for three-room and bigger flats is 1.8, said HDB. This is close to the application rate for the November 2022 BTO sales exercise, which had double the flat supply of this launch.
The median application rates of 1.8 at the November 2022 launch and 2.0 at the February 2021 launch are the lowest in HDB’s quarterly sales launches in the past three years, said the agency.
First-timer applicants have a better chance of securing a flat as they get two ballot chances instead of one, and up to 95 per cent of the flat supply is reserved for them.
The Housing Board also continued to encourage home buyers to consider non-mature estates to increase their chances of booking a flat, pointing out that first-timer applicants who applied for Jurong West Crystal and Brickland Weave in Tengah stand a good chance of securing a flat.
Those who applied for flats at Ulu Pandan Glades, a Prime Location Housing project in the mature estate of Queenstown, will also have a good chance of booking a flat.
The low first-timer application rates for these projects are between 0.2 and 1.8 across the various flat types, said HDB, which added that the average rejection rate at the flat selection stage in the past is 40 per cent.
For three-room and bigger flats, all the five BTO projects across mature and non-mature estates have first-timer application rates of 1.7 or lower for one or more flat types - meaning that there were fewer than two applicants vying for each flat, based on numbers at 11am.
"With these application rates, first-timers who applied for these flats stand a good chance of being invited to book a flat," said HDB.
"Among these projects, successful applicants of Jurong West Crystal and Brickland Wave will also be able to move into their new homes earlier, as they have shorter waiting times of about 3.9 years (or 47 months) and four years (or 48 months) respectively," it added.
The exceptions, based on application rates published on HDB's website, are for four-room flats at Kallang Whampoa where there are two projects - Rajah Summit and prime location project Farrer Park Fields. There are more than 5,900 applicants thus far for the 1,422 flats on offer.
The application rate for these flats is 2.9 for first-timers and 28.2 for second-timers.
HDB said first-timers who have been unsuccessful in two or more attempts for BTO flats in the non-mature estates will be given an additional ballot chance at their subsequent application for a BTO flat in the non-mature estates.
"From our records, virtually all first-timer applicants of BTO flats in non-mature estates had a chance of booking a flat within their first three tries. In fact, about nine in 10 had a chance to book a flat within two tries," it added.
Continue reading...
More than 4,400 new flats were launched for sale this round, spread across five projects in Kallang Whampoa, Queenstown, Jurong West and Tengah.
"The February 2023 sales launch also saw the lowest overall number of flat applicants, particularly first-timer applicants since the February 2020 BTO sales launch, with this number hovering around half of the number of flat applicants in some of the past 11 BTO sales launches," HDB said, referring to figures as of 11am on Monday.
For instance, a total of 12,493 applicants applied for three-room and bigger flats, of whom 7,513 were first-timers. In comparison, there were 20,252 applicants in February 2020, of whom 14,145 were first-timers, it added,
The median application rates for first-timer applicants for three-room and bigger flats is 1.8, said HDB. This is close to the application rate for the November 2022 BTO sales exercise, which had double the flat supply of this launch.
The median application rates of 1.8 at the November 2022 launch and 2.0 at the February 2021 launch are the lowest in HDB’s quarterly sales launches in the past three years, said the agency.
First-timer applicants have a better chance of securing a flat as they get two ballot chances instead of one, and up to 95 per cent of the flat supply is reserved for them.
Related:
The Housing Board also continued to encourage home buyers to consider non-mature estates to increase their chances of booking a flat, pointing out that first-timer applicants who applied for Jurong West Crystal and Brickland Weave in Tengah stand a good chance of securing a flat.
Those who applied for flats at Ulu Pandan Glades, a Prime Location Housing project in the mature estate of Queenstown, will also have a good chance of booking a flat.
The low first-timer application rates for these projects are between 0.2 and 1.8 across the various flat types, said HDB, which added that the average rejection rate at the flat selection stage in the past is 40 per cent.
For three-room and bigger flats, all the five BTO projects across mature and non-mature estates have first-timer application rates of 1.7 or lower for one or more flat types - meaning that there were fewer than two applicants vying for each flat, based on numbers at 11am.
"With these application rates, first-timers who applied for these flats stand a good chance of being invited to book a flat," said HDB.
"Among these projects, successful applicants of Jurong West Crystal and Brickland Wave will also be able to move into their new homes earlier, as they have shorter waiting times of about 3.9 years (or 47 months) and four years (or 48 months) respectively," it added.
The exceptions, based on application rates published on HDB's website, are for four-room flats at Kallang Whampoa where there are two projects - Rajah Summit and prime location project Farrer Park Fields. There are more than 5,900 applicants thus far for the 1,422 flats on offer.
The application rate for these flats is 2.9 for first-timers and 28.2 for second-timers.
HDB said first-timers who have been unsuccessful in two or more attempts for BTO flats in the non-mature estates will be given an additional ballot chance at their subsequent application for a BTO flat in the non-mature estates.
"From our records, virtually all first-timer applicants of BTO flats in non-mature estates had a chance of booking a flat within their first three tries. In fact, about nine in 10 had a chance to book a flat within two tries," it added.
Continue reading...