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Hard to get that first flat? Not so

  Dated : 07-10-2009

National Development Minister Mah Bow Tan sets records straight on claims by couples

National Development Minister Mah Bow Tan has refuted claims by some first-time buyers that they could not get an HDB flat despite repeated applications.

 

Mr Mah said on 7 October that some of the assertions that have appeared in media reports recently were” not entirely truthful”.

 

But Mr Mah said:”What is actually happening, is not a matter of buyers getting a flat, it’s a matter of them getting it and not selecting it for one reason or another.”

 

HDB figures on 7 October showed that eight in 10 first-timers could get a flat on their first try if they were not choosy; the success rate was 96 per cent for the second try.

 

“If you look at this, you’ll know that the supply of new flats under the BTO programmme is more than adequate, that is an assurance that I want to give to younger couples setting-up homes for the first time,” said Mr Mah.

 

“Don’t worry, there are flats available for you, in different parts of Singapore at prices that are affordable.  But we need to impress upon flat buyers that you may not get the dream flat of your choice the first time, but you have to make the decisions, and consider the trade-offs.”

 

This could mean living in a more affordable home but further away form the city, he said

 

The HDB data showed on 7 October that even when applicants have the entire block of flats to choose from, three in 10 buyers still reject units.

 

The rejection for BTO projects by first-timers was as high as 67 per cent in 2007- meaning almost seven in 10 applicants rejected any flats offered to them.

 

This figure has since come down to about 52 per cent after the HDB introduced new rules in May last year to penalize non-serious buyers by removing their first-time priorities.

 

Mr Mah acknowledged on 7 October that three to four years might be a long wait for some young couples but noted the best way to cut short the waiting time was to plan ahead.

 

Couples can book a flat under the HDB’s Fiance/Fiancee Scheme which lets them join the flat queue early- before they got married, he said.

 

Mr Mah was speaking to the media after chatting to buyers at the sales counters at the HDB Hub in Toa Payoh.

 

 

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