HDB will increase the supply of rental flats and build more two-room flats under its Build-To-Order (BTO) and Selective En bloc Redevelopment Scheme to help lower-income families. So far, 539 units have been launched for sale under both the BTO and Balloting Exercise (BE). Among these, 355 units were offered under the BTO scheme.
The take-up rate has been high. The first batch of 86 units was launched last July in Fernvale Vista at Sengkang and 74 units have been sold.
Another 164 in Fernvale Vista Phase II and 105 units at Punggol Vista were offered in May 2007 and Aug 2007 respectively. Selection has not been completed at Fernvale Vista Phase II and has not started for Punngol Vista. The flats built under BTO will only be completed in 2011.
To meet the demand for those who need flats urgently, HDB converted five-room flats at Blocks 990A-C in Jurong West Street 93 into two-room flats.
Executive flats at Block 302B in Anchorvale Link were also turned into two-room and three-room flats.
Out of the total of 184 converted two-room units offered for sale, 177 units have been sold and the buyers have already taken possession of the flats.
Another group that will be helped is elderly flat owners. HDB said it has launched more studio apartments to meet their needs.
It has also provided options to let them unlock the value of their flat. HDB is currently working with the CPF Board on how to implement the lease buy-back scheme.
As at September 30, NTUC Income has received 57 applications. Of these, 17 have been approved and 27 were withdrawn by the applicants. - CNA /ls
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