Good News for HDB Buyers: Long BTO Queue Finally Resolved

🏢The application rate for the October BTO exercise has significantly decreased from the previous exercises, indicating a fix to the long BTO queue.

💰Stricter rules for non-selection have contributed to the decrease in the BTO application rate, discouraging speculators looking to make quick money.

🏠Popular locations like Queenstown and Kallang/Whampoa have a lower application rate, as the 10-year minimum occupancy period and 6% resale levy deter speculators.

📉The decrease in BTO application rate is expected to ease pressure on the resale market, as more genuine buyers choose to opt for BTO flats.

👏The government's efforts to fix the long BTO queue and prioritize genuine buyers are commendable.

What is the application rate for the October BTO exercise?

—The application rate for the October BTO exercise is 1.4 applicants per unit, significantly lower than previous exercises.

Why has the application rate decreased?

—The application rate has decreased due to stricter rules for non-selection and the 10-year minimum occupancy period imposed on certain locations.

Will the decrease in BTO application rate affect the resale market?

—Yes, the decrease in BTO application rate is expected to ease pressure on the resale market.

Which locations have a lower application rate?

—Locations like Queenstown and Kallang/Whampoa have a lower application rate due to the 10-year minimum occupancy period and 6% resale levy.

What efforts has the government made to prioritize genuine buyers?

—The government has implemented measures such as stricter rules for non-selection and shorter build times for certain flat types.

00:01The latest HDB BTO exercise has resolved the long BTO queue issue and is good news for genuine buyers.

01:11The application rate for the October BTO exercise is 1.4 applicants per unit, a significant reduction from previous exercises.

01:59Stricter rules for non-selection and the 10-year minimum occupancy period have contributed to the decrease in application rate.

02:33Locations like Queenstown and Kallang/Whampoa have a lower application rate due to the 10-year minimum occupancy period and 6% resale levy.

05:13The decrease in BTO application rate is expected to ease pressure on the resale market.

06:10The government's efforts to fix the long BTO queue and prioritize genuine buyers are commendable.

07:34The decrease in BTO application rate will benefit genuine buyers who are in need of a home.

08:00The government's actions in the housing sector are showing positive results, and more improvements are expected.