Debated in Parliament on 12 Aug 2013.
Mr Alex Yam Ziming asked the Minister for National Development (a) how many applications for flats have been made under the Fiancé/Fiancée Scheme in 2012; (b) over the last five years, whether there has been a rise in the number of such applications that are subsequently cancelled due to a breakdown in the relationship between the applicants; and (c) whether the Ministry will consider helping in such situations, especially with regard to appeals for partial refund of deposits.
Page: 145
In 2012, HDB received 19,600 applications to buy a new HDB flat under the Fiancé/Fiancée Scheme.
Two percent of Fiancé/Fiancée Scheme applicants cancel their bookings before key collection each year due to a breakdown in the relationship between the applicants. This cancellation rate has remained unchanged over the last five years.
Such couples who cancel their flat booking will forfeit their Option Fee, or 5% of the purchase price of their flat if they have already signed the Agreement for Lease. This is substantially lower than the usual 20% forfeiture fee imposed by the private developers. The forfeiture fees are necessary to ensure that applicants are serious about buying a flat, and are not depriving others with more urgent housing needs. Nonetheless, we do consider appeals for waiver of the forfeiture fees on a case-by-case basis.
PAPERCUTS