Khaw cheers on strong buying interest for controversial Toh Yi studio flats

The Minister for National Development also boasts of first-time home buyers continuing to enjoy high chance of securing their first flat.

Here's excerpts from Khaw Boon Wan's blog:

I am particularly happy to note the results for the Toh Yi Studio Apartments. This was controversial when launched. But the project proved popular. About 220 applied for 132 units. Among them, 12% were existing Toh Yi residents.

The new Ageing-in-place Priority Scheme has ensured that all the Toh Yi residents who applied got a chance to select a unit, allowing them to age in place. This is a truly cheerful result!

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First-timers continue to enjoy a high chance of securing their first flat. The overall first-timer application rate is 1.6. This is lower than the 2.2 in the March BTO, and similar to the 1.6 in January earlier this year, and November last year. In non-mature estates, the first-timer application rate is even lower, at 1.3 compared to the rate of 1.9 in March.

As planned, more second-timers, too, will be able to select a flat. Their application rate in non-mature estates is at a single digit level of 7.3, which is similar to the rate of 7.0 in March. 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.

If first-timer application rates hold steady at below 2, I will be able to help even more second-timers get their new flats. The May BTO test results give us confidence that we are making steady progress on this journey. This is much to be cheerful about.