Artist Impression of The NEW HDB FlatsSINGAPORE: The Housing and Development Board (HDB) has doubled the chances for first-timers balloting for a new flat as they now get two tickets in the ballot, compared to just one previously.
Those unsuccessful in previous ballots will also be given additional tickets.
First-time HDB flat buyer Low Chai Huat has been married for almost two years.
He has a son and is ready to get a place of his own.
While Mr Low welcomes the additional chance with the new scheme, the careful buyer has his concerns when it comes to getting a choice unit.
"It's good, but the problem is some of the houses have already been selected and I don't want those on the lower floors – the air is not so good," he said.
Under the new scheme, HDB said at least 90 percent of the new flats would be allocated to first-timers since they get two ballot tickets.
First-time applicants getting a flat near their parents, and vice versa, get a total of four tickets, while second-timers in the same situation get two tickets.
First-timers who did not get selected in previous ballots also get additional tickets – one extra ticket for four failed attempts and two extra tickets for five failed attempts.
HDB said the number of unsuccessful attempts would be tabulated from January 2002, when the first balloting exercise was launched.
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First-timers get double chances to buy new HDB flats
But given that demand always exceeds supply in the balloting exercises for new flats, few are hopeful of their chances.
"Considering that there are like a few hundred units left and there are thousands applying (for them), I think chances are like 50 percent or 40 percent," said Hazli Ismail, a first-time HDB flat buyer.
Punggol Vista is the latest series of new flats to be launched under HDB's Build-to-Order scheme.
Property agents expect these units to be hot-sellers since the project offers some 100 two-room flats.
While these flats are about 20 percent cheaper than resale flats, property agents said buyers should not discount the resale market altogether.
Instead, they should make use of housing grants to offset the price difference between a new flat and a resale flat.
CEO of PropNex, Mohamed Ismail, said: "There are also advantages in the resale market because one would be able to choose a specific kind of unit with certain renovation and location.
"Most of the time, in a Build-to-Order or a balloting exercise, your choices are limited – there is a limited number (of units) to choose from."
Agents said newlyweds would also appreciate the additional balloting chances since most cannot afford the cash upfront for resale flats, which now stands at S$10,000 to S$50,000.
The improved scheme applies only to HDB's Build-to-Order and balloting exercises, not for the bi-monthly sale of existing HDB flats. - CNA/so
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