The year might be looking up for singles hoping to secure a new HDB flat.
Photo credit: HDB
Before July 2013, singles were only allowed to purchase HDB flats from the resale market. For two and a half years now, 2-room new BTO HDB flats have been accessible to them though the number of applicants vying for a unit have been overwhelming and the wait have been long for some.
But since the most recent launch, the number of applicants have whittled down to 7.5 per unit. When the scheme first began in 2013, there were 57.5 applicants going for a single 2-room unit. These new 2-room flexi flats are the result of merging the 2-room and studio apartment schemes, and are designed mainly for the elderly and priced to help them and families in the lower income group. Singles who earn less than $5,000 then were also allowed to apply for these flats. The income ceiling has since been raised to $6,000 mid last year.
Photo credit: HDB
Singles are however restricted to new 2-room BTO flats in non-mature estates, which means they are not eligible for the new flats in Bidadari, which is considered a mature estate. Nevertheless, this option has helped many singles own their own space, to have a bit of privacy they can call their own in this growing city. The pricing of the new 2-room flats are considerably lower than those sold in the resale market, and most of the latter are much older and may not be suitable for the needs of singles who are looking for an affordable home.
Though there will still be competition for new 2-room flats, property experts are expecting the number to fall to a comfortable 4 or 5 applicants per unit.
