The HDB has ramped up the supply of new flats to meet demand and the market imbalance is showing signs of improvement.
The September BTO launch saw a moderate to low application rate, which means almost everyone will get a chance to select a flat.
Excluding a project in Ang Mo Kio which drew six applicants for each 3-room unit offered, other BTO projects in areas like Jurong East, Sengkang and Punggol received fewer than three applicants per flat - a comfortable range based on past launches as many applicants drop out.
HDB will launch another 4,200 BTO flats in November.
The HDB will also be creating a new town in Bidadari that can house up to 12,000 units, or a population of about 40,000 people in the next 5 to 10 years ahead.
The site is a former cemetery that was closed in 1972 and authorities completed the extraction of graves in 2006.
Although there is a stigma attached to the current location, given its proximity to the business district and being serviced by two MRT stations, it may prove to be the needed nudge for home buyers.
Source: Channel NewsAsia – 23 October 2011
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