SINGAPORE: Those looking to buy an unsold balance flat from the Housing and Development Board (HDB) can soon do so at any time instead of waiting for a twice-yearly sales exercise, said National Development Minister Lawrence Wong on Thursday (Feb 7).
Introduced in 2017, the Re-Offer of Balance Flats (ROF) sales exercise pools together all flats that are unsold after previous Sale of Balance Flats (SBF) exercises.
The ROF is currently offered twice a year. From the middle of this year, home buyers can choose to book the remaining flats from the ROF pool at any time.
This open booking will start with a batch of around 120 flats, Mr Wong wrote on the Ministry of National Development's Housing Matters blog.
"Flat buyers can apply online anytime on a first-come, first-served basis, and book a flat by the next working day. This will effectively reduce their waiting time to book a flat to just one day," he said.
The ROF sales exercise is aimed at helping buyers who have more urgent housing needs, or are less particular about location and other flat attributes. Under ROF, applicants do not have to indicate a flat type and location, and can book any available units according to their eligibility.
READ: First Re-Offer of Balance Flats exercise oversubscribed by almost 4 times
Mr Wong said past ROF sales exercises have been popular with buyers, with about 2,500 households having booked a flat under the scheme. Nearly two-thirds of them have collected the keys to their flats.
"With the increased range of options available, I hope that it will be easier and more convenient for potential homebuyers to find a flat that meets their different needs, preferences, and budget," he said.