News Extract - 11 June 2013

Fewer applicants for BTO flats under Parenthood Priority Scheme in May

According to the Housing and Development Board (HDB), the scheme's applicants made up 14 per cent of BTO flat supply.

SINGAPORE: Almost all first-time flat applicants who are married with young children under the age of 16 or expecting a child can select a Build-To-Order (BTO) flat if they applied under the HDB May sales exercise.

There were 4,900 BTO flats on offer in five non-mature towns.

Under the Parenthood Priority Scheme (PPS), 30 per cent of BTO flats are set aside for first-time married couples with young children.

And for the first time, this priority is also extended to first-time married couples who are expecting a child.

According to the Housing and Development Board (HDB), the scheme's applicants made up 14 per cent of BTO flat supply.

This is lower than the previous two sales exercises in January and March, where applicants made up about 30 per cent of supply.

One in five applicants under the scheme this time are first-time married couples expecting a child.

Overall, the May exercise saw possibly a record low application rate, with about one applicant per flat.

But for the Sale of Balance Flats exercise, some 3,100 flats were on offer and half of these were set aside under the Parenthood Priority Scheme. 

There were more than double the number of applicants than the number of flats offered.

Applicants of the scheme made up 119 per cent of the supply.

Overall, there were about seven applicants for each unit on offer.

Two other new schemes which provided more help for second-time divorcees and widows with young children, as well as the elderly, also kicked in during the May exercise. 

All those who applied under the scheme should also be able to get a flat.
HDB doubled the quota of 2-room and 3-room BTO flats for second-timers in non-mature estates from 15 to 30 per cent. 

Out of the 30 per cent quota, five per cent is set aside for second-time applicants who are divorced or widowed with children below 16 years old.

A total of 21 second-timers who are widowed or divorced applied for about 157 two- and three-room flats allocated to them under the scheme.

The other new scheme is the Studio Apartment Priority Scheme. 

Half of the studio apartment supply is set aside for elderly applicants right-sizing to a studio apartment near their current home, or buying one near their married children.

Applications under the scheme formed about 17 per cent of the 292 studio apartments on offer under the BTO exercise.

As for the Sale of Balance flats exercise, which had 602 studio apartments on offer, applications made up 150 per cent.


Source: Channel NewsAsia