SINGAPORE – Tightening rules on the selection of flats while also ensuring that there are “safety valves” for those with bona fide reasons for giving up their booking opportunity allows the Government to take a calibrated approach in supporting genuine home buyers, said National Development Minister Desmond Lee on Saturday.
HDB will waive the new rule – when it takes effect from August – only if applicants have 10 or fewer BTO flats to choose from. “That 40 per cent is quite a large proportion,” said Mr Lee, while noting that many have legitimate reasons. “We see that particularly in very, very good locations. We see a lot of interest, but also a lot of people dropping out because they really were just seeing whether they could get a number, and then they would decide there and then.”
Mr Lee was referring to dialogues with the public under Forward Singapore, an exercise to strengthen the nation’s social compact.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTO applications set to fall in August exercise under new rules favouring genuine applicants: Property analystsSINGAPORE — Property analysts expect a significant drop in Build-to-Order (BTO) applications when new rules kick in from August that are designed to bring down the rate of homebuyers rejecting BTO flats offered to them. Lots of PLP analysts here👏👏👏
Source: TODAYonline - 🏆 1. / 99 Read more »
BTO rules tightening: Home buyers worry they may be forced to choose a 'bad flat'Applicants for Build-To-Order flats say that if they do not get a 'good queue number', they can only choose from less desirable flats, such as those on lower floors. There is obviously a pricing to demand disparity for higher/lower floor flats. People who get higher floors usually has the “lottery effect”. If people are rejecting lower floors, it means the price doesn’t match the demand. This ruling sucks , 👎 to HDB . A tiny pigeon hole home , $400,000 over eg Tengah , cannot choose to what we want ? Must take ? What f**king nonsense is this ?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Fewer BTO applicants expected from August under new rules: AnalystsSINGAPORE - Fewer home seekers are expected to apply for Build-To-Order (BTO) flats when stricter rules to reduce the rejection rate take effect in August, said property analysts. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
HDB BTO February 2023 Tengah Review: Affordable Flats in New Housing EstateThe 2023 Feb BTO Tengah launch consists of 1,641 2-room Flexi, 3-room, 4-room, and 5-room flats. Read on to find out more.
Source: YahooSG - 🏆 3. / 71 Read more »
All 951 buyers of delayed Punggol BTO project to receive keys by end-MarchHDB will reimburse buyers $5,750 on average, with the total reimbursement at about $5.2 million. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
Property market risks remain, careful approach needed to manage supply and demand: Desmond LeeHome ownership for Singaporeans continues to be a focus.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »