SINGAPORE- Shorter wait for home buyers to book HDB flat under new sales exercise

SINGAPORE – Eager home buyers can soon book a Housing Board flat by the next working day after applying.

A new sales exercise will soon offer flats on a rolling basis, available for booking at any time.

The first batch of 120 flats offered under the new scheme will be open for booking around the middle of the year, Minister for National Development Lawrence Wong said in a blog post on Thursday (Feb 7).

Currently, the fastest way for buyers to get a flat is under the Re-Offer of Balance Flats (ROF) exercise, which offers unsold flats from previous sales exercises. Applicants have to wait for a week till applications close before they find out if they are successful. The new scheme means they can find out within a day if their application is successful.

“In other words, flat buyers can apply online anytime on a first come, first served basis, and book a flat by the next working day,” said Mr Wong. “This will effectively reduce their waiting time to book a flat to just one day.”

Since the ROF’s launch in August 2017, 2,500 families have booked a home under the exercise. Nearly two-thirds of these households have collected the keys to their flats.

Under the ROF, applicants do not need to indicate the flat type and location, unlike the Build-To-Order or Sales of Balance Flats exercises. They can book any available unit according to their eligibility, which benefits home buyers who are less particular about flat attributes or location, or have more urgent housing needs.

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Said Mr Wong: “With the increased range of options available, I hope that it will be easier and more convenient for potential home buyers to find a flat that meets their different needs, preferences, and budget.”