Reviewing HDB's Home Sales Programme to Shorten Waiting Time and Better Match Home Buyers’ Needs and Preferences
Ministry of National DevelopmentSpeakers
Summary
This question concerns Mr Liang Eng Hwa’s inquiry regarding applicant numbers for Sale of Balance Flats (SBF) and Re-Offer of Balance Flats (ROF) and strategies to shorten waiting times. Minister for National Development Desmond Lee reported that SBF exercises received 35,000, 31,000, and 23,000 applications from 2018 to 2020, while ROF was discontinued in 2020 to offer flats directly through open booking. This open booking system allows buyers with urgent needs to apply online and attend selection appointments as early as the next working day on a first-come-first-served basis. Additionally, HDB has launched 6,500 flats since 2018 with shorter waiting times of two to three years, which include floor finishes and internal doors to facilitate quicker move-ins. Minister for National Development Desmond Lee affirmed that HDB will continue refining sales processes and launching flats with shorter waiting times to better meet home seekers’ preferences and needs.
Transcript
31 Mr Liang Eng Hwa asked the Minister for National Development (a) in each of the last three years, what is the number of applicants for HDB's Sale of Balance Flats and Re-Offer of Balance Flats respectively; and (b) whether there is a need to review HDB's home sales programme to shorten waiting time and better match home buyers’ needs and preferences.
Mr Desmond Lee: HDB received about 35,000, 31,000 and 23,000 applications for the Sale of Balance Flats (SBF) exercises in 2018, 2019 and 2020 respectively.
HDB received about 10,000 and 8,000 applications for the Re-Offer of Balance Flats (ROF) exercise in 2018 and 2019 respectively. In 2020, HDB did away with the Re-Offer of Balance Flats (ROF) exercise, so that most of the unselected flats from the SBF exercises can be offered directly for open booking, instead of first being offered through the ROF exercises. The open booking of flats was launched in June 2019, and allows home seekers to apply for a flat online. Applicants get their flat selection appointment on a first-come-first-served basis, which can be as early as the next working day. This has helped buyers who have more urgent housing needs and are less particular about flat locations to book a flat more quickly.
In addition, HDB has launched about 6,500 BTO flats with shorter waiting times of about 2 to 3 years, since November 2018. These flats come with floor finishes, internal doors, and sanitary fittings, enabling home buyers to move into their new flats sooner.
HDB will continue to refine its sales processes, review its sales programme, and where possible, continue to launch flats with shorter waiting times, to better meet the needs of home seekers.