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Jan 28, 2009
Take-up rates of new flats up <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Jessica Cheam </td></tr> <tr valign="bottom"> <td width="330">
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The HDB says that since the change was made last May, the rejection rate - which used to be around 22 to 77 per cent - has dropped to 14 to 50 per cent. -- PHOTO: THE NEW PAPER
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THE take-up rates of new Housing Board flats have shot up as new rules to deter time-wasters from applying start to make an impact on the behaviour of flat hunters. The HDB says that since the change was made last May, the rejection rate - which used to be around 22 to 77 per cent - has dropped to 14 to 50 per cent.
And the number of applications, which have been as high as 5.6 times the number of flats available, has also moderated to around 2 to 3 times.
The figures are seen as a vindication of the HDB's new 'two strikes and you're out' approach, which has made individuals more selective with their applications and more likely to accept a flat when it is offered to them. The policy means that a first-time buyer who rejects an offer to buy a flat twice or more at any HDB sales exercise, loses their first-timer priorities for a year. That effectively puts them at the back of the queue with second-timers.
One impact of the HDB change is said to be that queues have become shorter, as the number of timewasters has been pruned. This means that those applying for a specific scheme stand a much greater chance of being successful. The changes have also reduced considerably the HDB's administrative load.
Read the full report in Thursday's edition of The Straits Times.
Jan 28, 2009
Take-up rates of new flats up <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Jessica Cheam </td></tr> <tr valign="bottom"> <td width="330">
</td> <td width="10">
The HDB says that since the change was made last May, the rejection rate - which used to be around 22 to 77 per cent - has dropped to 14 to 50 per cent. -- PHOTO: THE NEW PAPER
</td></tr> </tbody></table> <!-- START OF : div id="storytext"-->
THE take-up rates of new Housing Board flats have shot up as new rules to deter time-wasters from applying start to make an impact on the behaviour of flat hunters. The HDB says that since the change was made last May, the rejection rate - which used to be around 22 to 77 per cent - has dropped to 14 to 50 per cent.
And the number of applications, which have been as high as 5.6 times the number of flats available, has also moderated to around 2 to 3 times.
The figures are seen as a vindication of the HDB's new 'two strikes and you're out' approach, which has made individuals more selective with their applications and more likely to accept a flat when it is offered to them. The policy means that a first-time buyer who rejects an offer to buy a flat twice or more at any HDB sales exercise, loses their first-timer priorities for a year. That effectively puts them at the back of the queue with second-timers.
One impact of the HDB change is said to be that queues have become shorter, as the number of timewasters has been pruned. This means that those applying for a specific scheme stand a much greater chance of being successful. The changes have also reduced considerably the HDB's administrative load.
Read the full report in Thursday's edition of The Straits Times.
