Change expected in BTO balloting rules

Balloting rules for Build-To-Order (BTO) flats are expected to be changed soon to better cater to second-time buyers.

Analysts said this move will help to cool the demand in the resale market.

The changes will also not lead to an oversupply of flats as demand is still strong.

Currently, only 5 per cent of BTO flats are allocated to second-time buyers, and analysts believe that the rate could go up to not more than 30 per cent.

National Development Minister Khaw Boon Wan had said that he hopes to announce some changes to the balloting rules for the next BTO launch in March.

That is when eight BTO projects will be launched in towns like Clementi and Bedok.

ORIGINAL SOURCE
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