HDB to launch bumper crop of 8000 flats

National Development Minister Khaw Boon Wan has said in his latest blog post that the Housing and Development Board (HDB) is set to release new flats to help other buyer groups, apart from first-timers.

In a move to increase the Build-to-Order (BTO) chance for second-timers, the HDB will launch a bumper crop of 8,000 flats tomorrow through the BTO and Sale of Balance Flats exercises.

Mr Khaw noted that the flats cover all types and will be located in mature and non-mature estates.

"With the wide range of flats offered, flat buyers will be able to apply for one that best meet their needs, and in an estate of their choice," he wrote.

However, he said that strong demand for completed and soon to be completed flats will still likely be in mature estates. Hence, those who want a better chance to own a flat should widen their choices, including applying for BTO flats in non-mature estates.

"I will be monitoring the application rates to see how Singaporeans are responding to the new initiatives.  Clearly, nothing is cast in stone."

He also stressed that the results of the launch will help them to tweak BTO rules for subsequent launches, ensuring that policy objectives are met.

"Our priority remains to help first-timers get their first HDB flat as quickly as possible, so that they can proceed to start their family," he noted.  Related Stories:HDB upgraders feel pain over lower COVs

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