Channel NewsAsia - Wednesday, October 14
SINGAPORE: The Housing & Development Board (HDB) has seen strong demand for the 2,100 flats being offered under its "Sale of Balance Flats" exercise.
The HDB received more than 19,000 applications, just a day before the exercise closes, which means that the flats are nearly nine times oversubscribed.
Demand was high for the flats — ranging from studio apartments to executive flats — in estates such as Bedok, Bukit Batok, Choa Chu Kang, Bukit Panjang and Woodlands.
Balance flats are those unsold in previous Build—to—Order exercises, surplus flats under the Selective En bloc Redevelopment Scheme, as well as repurchased flats.
These flats are either completed or nearing completion — so owners do not have to wait long before moving in.
The exercise, which is the largest to date, replaces the existing balloting exercise, quarterly sales and half—yearly sales exercises.
The HDB said that the rationale behind this move is to simplify the flat application process, and to provide buyers with a wider choice of flats across a range of locations in one exercise.
— CNA/sc
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