More chances for singles to buy flats

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http://www.todayonline.com/singapore/more-chances-singles-buy-flats

The Housing and Development Board (HDB) has decided to allow singles to buy any excess 2-room flats in non-mature estates after catering to the demand from first- and second-timer families.

30 per cent of 2-room flats will be set aside for singles, but the demand for such units from this group has been so overwhelming.

In July’s BTO exercise, which marked the first time singles aged 35 and above are able to buy new HDB flats, almost 9,000 singles made applications for the some 155 units offered in Sengkang and Yishun. This translates to about 58 singles vying for each two-room unit.

In comparison, the application rates of families for two-room flats came in much lower which led to some property analysts to call on the HDB to increase the allocation of such units for singles.

The HDB said it will continue to “work to address the demand from singles”. For example, another 450 units of 2-room BTO flats will be offered during next month’s BTO exercise, bringing the total number of 2-room flats in the non-mature estates launched this year to about 2,500.