Since March 2012, about 3,500 applicants who cancelled their booking for a HDB flat have been barred from buying BTO flats for one year.
In a written response to a query in yesterday’s parliamentary session, Minister of National Development Khaw Boon Wan said, “The measure to impose a one-year debarment on HDB flat buyers who cancel their bookings is to discourage frivolous booking. Such behaviour is unfair to genuine flat buyers who may otherwise be crowded out.”
When asked if HDB will consider allowing walk-in application and selection of flats under the Sale of Balance Flats (SBF) exercise on a monthly basis, Mr Khaw said the government prefers to accumulate its balance flats and sell them under a SBF exercise when there is a sufficiently large supply.
“This allows applicants more choices of flat types in various locations,” he said.
Flats from the SBF exercise consist balance flats from earlier Build-To-Order (BTO) exercises, surplus Selective En-bloc Redevelopment Scheme (SERS) replacement flats, and repurchased flats.
These flats are mostly under construction or near completion.
Image (by HDB): Artist’s impression of BTO flats
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
