Within Expectation

Artist's impression of BTO projects launched in May 2011

My first BTO launch will close in a few hours’ time. The application rates are good and within expectation.

We offered 4,000 flats in four towns. As at this afternoon, more than 13,000 have applied, giving an application rate of over three times.  This is similar to the application rate for the April BTO launch, and lower than the application rates of five times for the February launch and seven times for the March launch.

The application rate for projects in Tampines, a mature estate, is the highest, at about four and a half times. If we exclude Tampines, the overall application rate is about two and a half times.

We will now get the applicants queued up for flat selection. At the same time, we will try to get these flats completed as soon as possible.

With this launch, we have offered about 12,000 units this year, leaving another 13,000 units to be launched in the next seven months. With monthly launch, this will mean an average launch size of about 1,800 units, smaller than the recent launch of 4,000 units. For the June BTO currently being prepared, we are looking to launch about 2,100 flats in Bukit Panjang and Sengkang.

Meanwhile, we have some 1,000 balance units accumulated from earlier sale exercises. I have asked HDB to look into releasing these under the Sale of Balance Flats (SBF) exercise later this year, to increase the number of flats we offer. With these, we are looking at a total supply of 26,000 units by year-end.

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