HDB receives more than 1,200 applications to waive the 15-month waiting period before buying a resale HDB flat
Jan 12, 2023
By   Internet
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Abstract: Two months after the new round of property cooling measures came into effect, the HDB has received 1,284 applications from existing and former private homeowners seeking exemption from the 15-month waiting period before they can buy a resale HDB flat.

In the past five years, a total of 2,200 first-time home buyers have been unsuccessful in their applications to pre-purchase HDB flats after trying more than four times.


In a written response to Members' queries, the Ministry of National Development said that since the new round of real estate measures came into effect in September last year, as at the end of November, HDB had processed 902 applications for exemption from the 15-month waiting period out of a total of 1,284 applications, of which about 38 per cent were successful.


Most of the successful applicants had already been issued with an Option Letter to purchase a resale HDB flat before the measure came into effect. There were 144 applications from existing and former private home owners aged 55 and above.


These applicants wanted to purchase a five-bedroom HDB flat or larger within 15 months of selling their homes.


So far the authority has processed 102 such applications, of which 34% have been successful.


HDB is progressively reviewing the other applications received and will continue to assess these applications as appropriate.


The Ministry of National Development also noted that of the 2,200 first-time home buyers who applied for HDB flats more than four times between 2017 and 2021 and were still unsuccessful, 99 per cent applied for HDB flats in mature towns and about 14 per cent bought resale HDB flats.


The authorities are encouraging shoppers to apply for HDB flats in non-established towns to increase the success rate of their applications.