More Time to Ponder Options Ahead of Mega Launch

SINGAPORE — Those hunting for a flat in the upcoming mega Housing and Development Board (HDB) sales launch will have 10 calendar days to think through their options, instead of the usual seven.

The Ministry of National Development and the HDB had announced this mega launch in September — combining the September and November sales exercises — to let more prospective home buyers benefit from new policies announced in this year’s National Day Rally.

These were the new two-room Flexi Scheme, which offers buyers a range of tenure periods; the higher income ceilings for buying subsidised flats; and enhancements to the Special CPF Housing Grant (SHG) for lower- and middle-income families to afford their first homes. Higher income ceiling is also applicable for applicants of executive condo such as The Terrace EC , Browstone EC and Signature EC At Yishun.

signature at yishun ec executive condo site pic 1

In a press release today (Nov 12), the HDB said it has decided to extend the application period given that there will be more choices in terms of location, flat type and price in the launch, which will take place in the second half of this month.

There will be 12,000 flats on offer — the largest sales exercise to date — comprising 7,000 Build-to-Order flats from six projects across Bidadari, Bukit Batok, Choa Chu Kang, Hougang, Punggol Northshore and Sengkang.

The remaining 5,000 units are those that were left unsold from previous launches.

Commenting on the extension in the application period, ERA Real Estate said it views the move as a “pre-emptive measure taken by the HDB in anticipation of the strong demand expected for the sales launch”.

It added: “Given the large number of flats offered in various new towns, applicants would need more time for financial planning and to make comparisons and eventually pick their preferred project. The extension is meant to encourage prudence in making purchasing decisions.”

ERA said that projects that could see hot demand are the units in the centrally located Bidadari, as well as the one in Punggol Northshore, partly because of the recent announcement that a neighbourhood centre would be built there.

In addition, the Punggol project will be one of the rare HDB projects to offer sea views, the firm added.

Noting that flat applications are not processed on a first-come, first-served basis, the HDB advised prospective buyers that they “need not rush to put in their applications”.

The HDB added that information on all the flats on offer in the sales launch will be published on the HDB InfoWEB and buyers can submit their applications online instead of making the trip to HDB Hub.