Moratorium on Buying of BTO Flats for Applicants with Previous Cancellations

Debated in Parliament on 3 Nov 2014.

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Gan Thiam Poh asked about the number of applicants barred from buying BTO flats for one year after cancellations in the past three years and whether HDB will allow monthly walk-in applications for the Sale of Balance Flats exercise.
Khaw Boon Wan explained that the one-year debarment was introduced in March 2012 to discourage frivolous bookings that crowd out genuine buyers, and about 3,500 applicants have been barred since then.
Khaw Boon Wan stated that HDB prefers to hold Sale of Balance Flats exercises when there is sufficient supply to provide applicants with more choices of flat types and locations, rather than allowing monthly walk-in selections.

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Gan Thiam Poh

Mr Gan Thiam Poh asked the Minister for National Development (a) in the past three years, how many applicants have been barred from buying BTO flats for a period of one year, after they cancelled their booking of units with HDB; and (b) whether HDB will consider

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allowing walk-in application and selection of flats under the Sale of Balance Flats exercise on a monthly basis.

Khaw Boon Wan

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.

Since implementation in March 2012, about 3,500 applicants have been barred.

HDB prefers to accumulate its balance flats and sell them under a Sale of Balance Flats exercise when there is a sufficiently large supply. This allows applicants more choices of flat types in various locations.

Summary written by AI (learn more)

Gan Thiam Poh asked about the number of applicants barred from buying BTO flats for one year after cancellations in the past three years and whether HDB will allow monthly walk-in applications for the Sale of Balance Flats exercise.
Khaw Boon Wan explained that the one-year debarment was introduced in March 2012 to discourage frivolous bookings that crowd out genuine buyers, and about 3,500 applicants have been barred since then.
Khaw Boon Wan stated that HDB prefers to hold Sale of Balance Flats exercises when there is sufficient supply to provide applicants with more choices of flat types and locations, rather than allowing monthly walk-in selections.

Questions identified by AI (learn more)

Moratorium on Buying of BTO Flats for Applicants with Previous Cancellations | PAPERCUTS

Moratorium on Buying of BTO Flats for Applicants with Previous Cancellations

Debated in Parliament on 3 Nov 2014.

Summary written by AI (learn more)

Gan Thiam Poh asked about the number of applicants barred from buying BTO flats for one year after cancellations in the past three years and whether HDB will allow monthly walk-in applications for the Sale of Balance Flats exercise.
Khaw Boon Wan explained that the one-year debarment was introduced in March 2012 to discourage frivolous bookings that crowd out genuine buyers, and about 3,500 applicants have been barred since then.
Khaw Boon Wan stated that HDB prefers to hold Sale of Balance Flats exercises when there is sufficient supply to provide applicants with more choices of flat types and locations, rather than allowing monthly walk-in selections.

Questions identified by AI (learn more)

Full Transcript

Gan Thiam Poh

Page: 154

allowing walk-in application and selection of flats under the Sale of Balance Flats exercise on a monthly basis.

Khaw Boon Wan

Since implementation in March 2012, about 3,500 applicants have been barred.

Summary written by AI (learn more)

Gan Thiam Poh asked about the number of applicants barred from buying BTO flats for one year after cancellations in the past three years and whether HDB will allow monthly walk-in applications for the Sale of Balance Flats exercise.
Khaw Boon Wan explained that the one-year debarment was introduced in March 2012 to discourage frivolous bookings that crowd out genuine buyers, and about 3,500 applicants have been barred since then.
Khaw Boon Wan stated that HDB prefers to hold Sale of Balance Flats exercises when there is sufficient supply to provide applicants with more choices of flat types and locations, rather than allowing monthly walk-in selections.

Questions identified by AI (learn more)

Moratorium on Buying of BTO Flats for Applicants with Previous Cancellations

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Gan Thiam Poh

Khaw Boon Wan

Summary

Questions Identified

Moratorium on Buying of BTO Flats for Applicants with Previous Cancellations

Summary

Questions Identified

Full Transcript

Gan Thiam Poh

Khaw Boon Wan

Summary

Questions Identified