Strong demand greets bumper launch of HDB flats

More families applied thanks to policy changes.

The Housing and Development Board’s November 2015 BTO and SBF exercise was met with strong demand from homebuyers, according to a blog post by Minister for National Development David Wong.

The overall BTO application rate for 3-room or larger flats is a healthy 3.2, Wong said, driven by a number of policy changes which benefitted more Singaporeans across different buyer groups.

The most prominent policy shift was the introduction of higher income ceilings. About 2,100 families and 220 singles in this exercise benefited from the higher income ceilings of $12,000 and $6,000 respectively.

More lower- and middle-income home buyers benefit from the enhanced Special CPF Housing Grant (SHG). 

Some 6,500 families are eligible to apply for grants, as the SHG was extended to middle-income buyers earning up to $8,500. All eligible families will also receive a higher SHG quantum, in some cases, up to $20,000 more.

Third, it was also the first time that 2-Room Flexi flats were put on sale to give seniors more choice and flexibility. About 1,400 seniors applied for the 966 units of 2-Room Flexi flats offered under this BTO exercise. 

"With application rates stabilising, we are still keeping a close eye on buyer demand and will adjust the BTO supply accordingly," Minister Wong said.