The first Re-offer of Balance Flats (ROF) exercise by the Housing and Development Board (HDB) was oversubscribed when it closed on Monday (7 August), with 5,587 applications received for the 1,394 units offered, reported Today Online.
First-time applicants accounted for almost 50 percent of the buyers at 2,647, while another 2,175 are second-timers. The remainder were singles and elderly buyers who have applied at least twice previously for a flat.
Units offered included two-room flats from the Flexi Scheme for elderly Singaporeans, three- to five-room units as well as “three generation” and executive flats. These units are spread across 26 housing estates, such as Bedok, Clementi, Ang Mo Kio, Bukit Batok, Woodlands and Serangoon.
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HDB noted that the re-release of unsold flats is targeted at helping those with more urgent housing needs – as well as those who are less particular on location and attributes – to secure a flat quickly.
“Now we introduce the ROF … if I was not successful in my last BTO or Sale of Balance flats (bid), I will go in for this one again because some of the flats are, maybe, in good locations or some are available in a shorter period of time (compared to BTO flats where you have to wait longer),” noted Chris International director Chris Koh.
International Property Advisor chief executive Ku Swee Yong revealed that 70 percent of the units under the ROF exercise are “ready”.
“It is probably indicative that there are some families whose needs are (a) little bit more urgent and they can’t wait for four years (for a flat).”
This article was edited by Denise Djong.
