When HDB launched the latest BTO last week, I had a wish: that the first-timers’ application rate would come in below 2.
If it does, it would mean that almost all first-timers will get a chance to select a new flat.
It would also mean that our ramped up BTO programme in recent months would have largely cleared the backlog of first-timer applicants.
There will of course be new first-timer applicants, but their numbers will be below the 25,000 BTO flat supply for next year. First marriages involving Singaporeans number about 15,000 a year.
Currently, we reserve 95 percent of BTO flats for first-timers, leaving only 5 percent for second-timers.
Once we have cleared the first-timer queue, we can help the second-timers more.
Registration for the current BTO launch will close in a few hours.
At 5 pm a while ago, the first-timer application rate was 1.4, way below 2!
Wow, Christmas is coming early for me, with my BTO wish coming true. It is a wish not for me, but for all the HDB applicants, especially the many second-timers out there. I will now be better able to help them, starting next year.