Second-time home buyers might get their new homes sooner next year, as Minister for National Development Khaw Boon Wan announced his intention to help this group of buyers, according to an AsiaOne report.

The minister noted that last year, first-time home buyers were given priority in getting their homes.

“Plans to build many new HDB flats had been launched and BTO prices have stabilised,” he wrote in his blog.

“Newlywed first-timers’ backlog has been largely cleared. (An) additional 2,000 families have gotten their HDB rental flats.”

For 2012, the HDB will release another 25,000 BTO flats. This exceeds 15,000 first marriages among Singaporeans, leaving some flats for second-time buyers.

Some experts noted that increasing the allocation of BTO flats to second-time home buyers will cater to their needs.

Meanwhile, the HDB separated the application rates for first- and second-time home buyers to cater to the various demands of each group.

The authority noted there were more second-time home buyers, compared to first-time buyers.

 

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