HDB FLAT BOOKINGS UP 32%

HDB FLAT BOOKINGS UP 32%
Nov 21, 2011

As Singapore recovers quickly from the economic crisis, more home buyers in the red-hot public housing market have been snapping up flats in the past year.

However, the government's cooling measures have affected the resale market, as reflected in the decline of resale flat transactions.

A recent report showed that potential buyers booked 17,419 flats in the year ended March 2011, up 32.2 percent from 13,177 in the previous year.

In contrast, the number of applications for resale flats dropped 23.5 percent, from 39,320 to 30,061.

The HDB launched 12 Build-To-Order (BTO) sales exercises in response to the strong demand, offering 17,294 flats, up 54 percent from the 11,212 units launched last year.

HDB CEO Cheong Koon Hean said it has the potential to do more.

“I hope to build on the depth of knowledge that has accumulated over five decades... and make further inroads,” she said.

She noted that “HDB is also looking at injecting greater social and economic value where residents will be actively engaged in shaping the future of their town” beyond the existing architecture, design and innovations.

Info courtesy - PropertyGuru