Friday, August 24, 2007

Look Beyond Mature Estates

Source : TODAY, Friday, August 24, 2007

First-timers should consider flats in newer towns, where priority scheme applies











Letter from Kee Lay Cheng
Deputy Director (Marketing & Projects)
for Director (Estate Administration & Property),
Housing & Development Board (HDB)

I refer to the three letters, “No flat, so wedding has to wait” (Aug 16).

The writers, Ms Jamie Tan, Ms Jesline Soh and Ms Alice Lim, expressed disappointment that the improved priority for first-timers applying for new flats is only applicable to HDB’s Build-To-Order (BTO) and Balloting Exercises (BE) and not the Bi-monthly Combined Balloting/Walk-in exercise for unsold flats.

Under the previous Walk-in Selection (WIS) system, applicants selected their flats on a first-come first-served basis. To gain a better queue position, some applicants have even queued overnight outside the HDB Hub in anticipation of sales launches.

In response to public feedback and to do away with the need for queuing, HDB introduced the Bi-monthly exercise, which incorporates the features of the balloting and WIS systems.

Under this system, all applications received are subject to an equal-chance ballot.

The flats offered under the Bi-monthly exercises are mainly units that have remained unsold from previous BTOs and BEs, where the various priority schemes have already been applied.

Even after the balloted applicants have had a chance to select their flats, there is normally a balance of flats still available for immediate booking. As of July 31 this year, there were about 500 unsold flats in the North/West and North-east zones — available from the previous two Bi-monthly sales exercises launched in April and June.

While HDB understands the desire of flat buyers to buy a new flat in mature HDB towns, it is not possible for the board to offer enough supply to satisfy the high demand due to the limited land available in these locations for building new flats.

Thus, only a small number of flats in the mature estates can be offered to the public.

Buyers are advised to consider applying for a new flat in newer towns such as Punggol or buying a flat from the resale market (where eligible first-timers can enjoy a $30,000 or $40,000 CPF Housing Grant, as well as the Additional CPF Housing Grant).

Ms Jesline Soh questioned the purpose of scheduling flat selection appointments for those whose queue number exceeds the offered flat supply.

Because not all shortlisted applicants will select a flat when it comes to their turn, there are usually some flats still available for selection — even for those with high queue numbers. If all available flats have been taken up, our sales office will inform the applicants accordingly.

Ms Soh also mentioned that she is looking for a flat in the North-East area. So far, HDB has launched three BTO Exercises in Sengkang (picture) and Punggol this year — the latest being Punggol Vista on Aug 14.

She may wish to consider applying for a flat under BTO in the future — where first-timers like herself will enjoy priority.

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