Residential

Khaw cautions against buying beyond means

Minister for National Development Khaw Boon Wan advises against buying homes against financial means and taking up loans with 50-year loan terms. He also noted that first-timers are more successful in their BTO applications for flats in non-mature estates and that second-timers can also rely on the government for help, adding that he would be focusing on second-timers and improving their chances on getting new flats.

(Source: Business Times)

20,000 new flats to be launched in 2013

HDB will be building at least 20,000 new flats in 2013, in addition to the 8,000 new flats and 3,000 balance flats that will be launched by the end of 2012. First-timer application rates for the July BTO launch was similar that of May’s at 1.7, while the second-timer application rate has increased from 9.5 to 11.4. Since the first-timer application rates remained ...