Last month, we saw HDB launching its final round of new flats for 2012, where 6,463 flats were rolled out. This brings the total flats supplied for the year to 27,084, a 7.5 percent increase from last year's 25,200 units.
This year's supply is the highest to date. Initially, supply was planned at 25,000 but strong demand and a brisk resale market caused HDB to increase the number.
Let us recap the six launches for the year.
In January, HDB made its first launch, with five Build-To-Order (BTO) projects in Choa Chu Kang, Punggol, Sengkang and Tampines. In total, 3,923 new flats were offered. Build-To-Order (BTO) scheme allows applicants to apply for their preferred location from pre-specified sites, HDB will then proceed to build the flats if demand is sufficient. This scheme came into effect in 2001, and is the main avenue in which new HDB flats are produced.
Second up, was the bumper launch in March that saw 4,153 units offered in eight BTO projects alongside 3,825 Sale of Balance Flats (SBF) in 26 towns and estates. Sale of Balance Flats (SBF) are “balance flats from earlier Build-To-Order (BTO) exercises; surplus Selective En-bloc Redevelopment Scheme (SERS) replacement flats; or repurchased flats” (“Sale of Balance Flats”).
Meanwhile, the launch in March also unveiled several new schemes and regulations. The new schemes were the Multi-Generation Priority Scheme (MGPS) and Ageing-in-Place Priority Scheme (APPS). Addition tweaks were also made to existing policies. This included raising the income ceiling for buyers of two-room flats in mature estates from S$2,000 to S$5,000, and meting out harsher penalty for buyers who cancel their flat booking. Flat buyers applying to live with their parents under “The Married Child Priority Scheme (MCPS)” also have their balloting chances increased to six for first-timers, and three for for second-timers - up from four and two, previously.
Under the Multi-Generation Priority Scheme (MGPS), married children and their parents who are applying for a studio apartment or a 2-room flat, will be given priority allocation, if they jointly apply for the flats near each other. For the Ageing-in-Place Priority Scheme (APPS), elderly flat owners will have double balloting chances when applying for a studio apartment in their current estate. If these seniors are also applying to live near their married child under MCPS, they will receive four balloting chances altogether.
Next up, was the launch in May when “4,627 new flats in three non-mature towns (Choa Chu Kang, Punggol, and Sengkang) and one mature town (Kallang/Whampoa)” (“HDB Launches 6 BTO Projects Offering 4,627 New Flats”) were rolled out.
In July, another 4,191 new flats were offered under seven Build-To-Order (BTO) projects. Enhancements to the Special CPF Housing Grant (SHG) were also made to enhance the financial assistance for lower-income households.
In September, another bumper launch was offered. This time, 7,055 flats, in both non-mature and mature towns, were put up for sales under the Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercises. New schemes were also introduced. Under the Optional Component Scheme (OCS), opt-in are allowed for internal timber doors and (or) flooring. There is also a new opt-in scheme for the sanitary fittings in bathrooms. HDB also piloted an “open kitchen” concept for flats at Teck Ghee Parkview.
Finally, in November, BTO flats were released in two non-mature towns (Choa Chu Kang and Sengkang) and three mature towns (Bedok, Queenstown and Toa Payoh). The type of flats include studio apartments, 3-, 4-, and 5-room flats. With at least 85 percent to 95 percent of the flats earmarked for them, first-time applicants will enjoy priority balloting for all flat types except for studio apartments.
Read more articles at
PropertyBuyer.com.sg/articles
SingaporeHomeLoan.net/blog/
iCompareLoan.com/resources/category/faq/
References
1. HDB, “2012 Record Year Of New Flats – November BTO Exercise”, 21 Nov 2012, Web
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/073889C114DCCD4C48257ABC0030957E?OpenDocument
2. HDB, “Release Of 3rd Quarter 2012 Public Housing Data”, 29 Oct 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/372DE5CF8D38306548257AA60000A61E?OpenDocument>
3. HDB, “HDB Increased New Flat Supply For 2012 TO 27,000”, 27 Sep 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/597ABC0F57FA037548257A860022A3F9?OpenDocument>
4. HDB, “HDB Launches 7 BTO Projects Offering 4,191 New Flats and Enhances Special CPF Housing Grant”, 31 Jul 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/176CF92493B9089848257A4C0019D9BA?OpenDocument>
5. HDB, “HDB Launches 6 BTO Projects Offering 4,627 New Flats”, 30 May 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/36C203C28D162D3948257A0E002CC65B?OpenDocument>
6. HDB, “Meeting Diverse Needs – HDB’s Bumper Launch of 8,000 Flats”, 28 Mar 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/935903454CA92CFC482579CE00264F1E?OpenDocument>
7. HDB, “HDB Launches 5 BTO Projects Offering 3,923 New Flats”, 11 Jan 2012, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/B6004B60783746C9482579820001E7CB?OpenDocument>
8. HDB, “Another 4,200 New Flats Launched; 25,000 More to Come Next Year”, 4 Nov 2011, Web
<http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/8D08706EB3498F78482579520005EAA4?OpenDocument>
9. HDB, “Build-to-Order (BTO)”, Web
<http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatModeBTO?OpenDocument>
10. HDB, “Sale of Balance Flats”, Web
<http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatSBF?OpenDocument>
11. NLB, “Singapore's Public Housing”, Web
<http://libguides.nl.sg/content.php?pid=81668&sid=606112>
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