More than 20% of first-time buyers who applied for BTO in mature towns were successful on their first attempt
Dec 2, 2022
By   Internet
  • City News
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Abstract: Between 20 and 24 percent of first-time buyers who applied for HDB flats in mature towns in the past three years were successful in their first attempts.

In a written reply to a parliamentary query, National Development Minister Lee Chee San said the authorities' records show that less than 2 percent of all first-time buyers who successfully applied for HDB flats in mature towns during the same period had applied more than five times.


On the whole, the demand for pre-purchase HDB flats in mature towns is very high, coupled with the limited supply, so not all applicants can apply for flats.


He advised buyers to apply for HDB flats in non-established towns to increase the success rate of their applications.


In addition, Lee Chee Sing also said that from 2010 to 2021, the number of HDB flats whose owners are all permanent residents has decreased from 47,000 flats, equivalent to about 6%, to 44,000 flats, equivalent to about 4%.


The minister said this may be because the government amended the regulations in 2013 to stipulate that foreigners can buy resale HDB flats only after three years of becoming permanent residents.