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Sunday, January 30, 2011

1st-time HDB flat buyers may face stiffer rules: Mah

In an interview with Lianhe Wanbao on Friday, National Development Minister Mah Bow Tan said changes might be made to the HDB's build-to-order scheme to penalise those who forgo the flat selection process despite being successful during balloting.

http://www.straitstimes.com/STI/STIMEDIA/image/20100629/ST_16570081.jpg

This will prevent those who do not need to buy a flat urgently from applying indiscriminately.

Under the current rules, applicants who reject two chances to select a flat will have their first-timer priorities removed for a period of one year.

This means if they apply for a flat in any HDB sales exercise within that one-year period, they will no longer enjoy priorities for first-timers. These priorities include being given two chances in the shortlisting of their applications, as compared to a second-time applicant, who gets only one chance.

When asked if the harsher penalties might include extending the one-year period, Mr Mah said the Government is still looking into the changes.

ORIGINAL SOURCE

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