Oral Answer by Ministry of National Development on success rates for first-timer and second-timer HDB BTO applicants
Jan 28, 2016
Mr Alex Yam Ziming: To ask the Minister for National Development
(a) what have been the success rates for first-timer and second-timer HDB BTO applicants from 2013-2015;
(b) whether the current building rate for new flats is sustainable in light of the application rates; and
(c) what are some of the main reasons for multiple unsuccessful applications.
Answer:
Between 2011 and 2013, HDB ramped up the Build-to-Order (BTO) flat supply and launched about 26,000 flats per year to address the temporary demand-supply imbalance. This helped to clear the demand backlog for first-timers. As a result, from 2013 to 2015, about 9 in 10 first-timer families and 7 in 10 second-timer families were successful in their applications for BTO flats in the non-mature estates.
Most flat applicants with multiple unsuccessful applications had applied for flats which are limited in supply but in high demand, such as BTO flats in the mature estates and balance flats.
With the demand-supply balance restored, HDB tapered the BTO supply to 22,400 flats in 2014, and to 15,100 flats in 2015. Despite the tapering of flat supply, the application rate of first-timer families applying for 3-room or larger BTO flats in the non-mature estates has remained stable at about 1.6 times in 2015, comparable to that for 2014. This means that most of these families would have been able to book a flat in their first attempt.
HDB plans to offer about 18,000 BTO flats in 2016 to meet new demand from recent policy changes, such as the higher income ceilings and the enhanced Special CPF Housing Grant. We will continue to monitor the market closely and adjust the supply when necessary, in line with our broader plan to keep supply at a sustainable level over the long-term.