Greater clarity helps

Yesterday, HDB released our last BTO launch for this year: another bumper crop of 4,200 new HDB flats.  Excluding Studio Apartments reserved for seniors, up to 3,600 units are available for selection by newlywed first-timers.

With our ramped up BTO programme, many first-timers have succeeded in BTO selection.  This paves the way for us to tweak the BTO balloting rules so that more second-timers can also succeed in BTO selection.

To gear up for this enhancement, I have asked HDB to compute the BTO application rates for first-timers and second-timers separately.  They have done so on the HDB InfoWEB, starting from the current BTO launch.

Indeed, during the one-week application period for BTO launches, HDB will regularly update the different application rates for each project and flat type.

Such increased clarity should help home buyers.  It will help them make an informed decision, since the application rates vary among the different projects.

The latest data are reproduced below.  It looks like first-timers’ application rates are within promising range.  If this pattern is sustained in the next few days, it would raise my optimism that we can help second-timers more, next year.  Let’s see what happens over the weekend.  I am keeping my fingers crossed.

*First-timer application rate refers to the number of first-timer applications divided by 95% of the total flat supply, while second-timer application rate refers to the number of second-timer applications divided by 5% of the total flat supply. (However, up to 15% of the flats are also set aside for quota-based priority schemes, where HDB does not differentiate between first-timers and second-timers. At least 95% of the remaining flats are set aside for first timers.)

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