{"id":114728,"date":"2020-03-05T11:33:21","date_gmt":"2020-03-05T04:33:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/"},"modified":"2020-03-05T12:22:01","modified_gmt":"2020-03-05T05:22:01","slug":"hdb-to-scrap-re-offer-of-balance-flats-exercise","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","title":{"rendered":"HDB to scrap Re-Offer of Balance Flats exercise"},"content":{"rendered":"


\nThe change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs.
\nHomebuyers can look forward to faster access to public housing as the Housing and Development Board (HDB) will do away with the Re-Offer of Balance Flats (ROF) exercises, announced Minister for National Development Lawrence Wong in Parliament on Wednesday (4 March).
\nRelated story: What You Need to Know About HDB\u2019s ROF Scheme
\nInstead, unsold flats in the Sale of Balance Flats (SBF) exercises will be offered directly to buyers for open booking.
\n\u201cThis will enable home-seekers with urgent needs to access flats more quickly,\u201d he said during his Committee of Supply debate speech.
\nHelping home buyers to access unselected flats faster
\nPreviously, unsold flats at SBF exercises will be first offered through the ROF exercises. If these flats remain unselected, they will be made available for open booking.
\nWith the removal of ROF exercises, most of the unselected flats from SBF exercises will now be offered directly via open booking.\u00a0
\n\u201cEffectively, with this change, there will be three main ways of applying for a HDB flat. You can go for BTO flats, new flats, which will be released four times a year; you can apply for a balance flat which will be put out twice a year; or you can go for open booking and apply online at almost any time of the year.\u201d
\nThe change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs.
\nMore measures to help unwed parents, Improvements to Silver Housing Bonus
\nApart from the removal of ROF exercises, the MND also announced measures to support unwed parents, who will now be allowed to buy a two-room Flexi flat or three-room flat within non-mature estates or a resale flat if eligible. Those who cannot afford to purchase a flat will be considered for public rental flat.
\nRelated:\u00a0HDB Flats: Who\u2019s Eligible and What Are the Available Schemes?
\nThe Silver Housing Bonus (SHB) will also be simplified and enhanced in three ways, said Wong.
\nFirst, the requirement for seniors to sell a larger flat will be removed. Regardless of the flat type they sell, seniors can apply for the SHB as long as they purchase a three-room or smaller flat, and receive some proceeds from the move.
\n\u201cNext, to receive the SHB, seniors must top up some proceeds from their move into their CPF Retirement Account. This is to ensure they have adequate savings for retirement. The top-up required today depends on their net sale proceeds, and we will simplify this, such that seniors only need to top up the first $60,000 of their proceeds.\u201d
\nFinally, the maximum cash bonus will be increased by 50%, from $20,000 to $30,000. Hence, seniors will get $1 in cash bonus for each $2 topped up to their CPF Retirement Account.
\nLease Buyback Scheme bonus to increase
\nIn view of the hike in SHB, the maximum Lease Buyback Scheme (LBS) bonus will also be raised to $30,000. Currently, owners of three-room or smaller flats, four-room flats, and five-room or larger flats can get a maximum cash bonus of $20,000, $10,000 and $5,000 respectively.
\nWith the new LBS enhancements, the maximum cash bonus will be $30,000, $15,000, and $7,500 respectively.
\nRead: Complete Guide to the Lease Buyback Scheme
\nAlternative housing options for seniors
\nAnd given the positive feedback received for its assisted living concept (housing integrated with care services), HDB will proceed to launch the new flat typology within Bukit Batok this May, with the pilot development featuring 160 units.\u00a0
\nMeasuring about 32 sq m, the block will be designed with large communal spaces on every floor, so that residents can gather with their neighbours conveniently. These flats will come with senior-friendly fittings, larger bathrooms as well as other features to accommodate those with mobility needs.
\nHDB\u2019s HIP: What Gets Improved, How Much to Pay and Where to Do a Number Two?
\n\u201cMore details will be shared in the coming weeks, including the sales conditions, indicative flat prices, and payment options,\u201d said Wong.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB to scrap Re-Offer of Balance Flats exercise<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The change is part of the various measures unveiled by Wong to make housing more...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-114728","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tQs","jetpack-related-posts":[{"id":103777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shorter-waiting-time-to-book-hdb-flats\/","url_meta":{"origin":114728,"position":0},"title":"Shorter waiting time to book HDB flats","date":"February 8, 2019","format":false,"excerpt":"\r Flat buyers can now book unsold units from the Re-Offer of Balance Flats pool at any time of the year. Home buyers can look forward to shorter waiting times to book HDB flats as the government has unveiled a new scheme to secure a flat. It allows flat buyers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61276,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-offer-bto-flats-with-shorter-waiting-time\/","url_meta":{"origin":114728,"position":1},"title":"HDB to offer BTO flats with shorter waiting time","date":"July 20, 2017","format":false,"excerpt":"\r \u00a0 To help young couples get their new homes sooner, the Housing and Development Board (HDB) will introduce a new sales mode for balance flats and will start the construction of select build-to-order (BTO) projects ahead of their launch. The Housing Board plans to launch for sale the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114792,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/policy-changes-on-rof-unwed-parents-wont-have-a-huge-impact-on-hdb-resale-prices-experts\/","url_meta":{"origin":114728,"position":2},"title":"Policy changes on ROF, unwed parents won't have a huge impact on HDB resale prices: experts","date":"March 9, 2020","format":false,"excerpt":"\r Analysts don\u2019t expect the policy changes to significantly affect the HDB resale market due to the limited number of unwed parents in Singapore as well as the unfavourable HDB flats available for selection.\u00a0 Analysts expect the government\u2019s decision to scrap the Re-Offer of Balance Flats (ROF) exercise as well\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80973,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-re-offer-of-balance-flats-exercise-sees-robust-take-up\/","url_meta":{"origin":114728,"position":3},"title":"First Re-Offer of Balance Flats exercise sees robust take up","date":"February 26, 2018","format":false,"excerpt":"\r The HDB scheme aims to help young couples acquire their first home more quickly. The first Re-Offer of Balance Flats (ROF) exercise held last August witnessed a strong take up rate of 93 percent, reported Channel NewsAsia citing the Housing and Development Board (HDB). Out of the 1,394 flats\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107397,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-6753-flats-in-may\/","url_meta":{"origin":114728,"position":4},"title":"HDB launches 6,753 flats in May","date":"May 23, 2019","format":false,"excerpt":"\r They comprise of 3,485 BTO and 3,268 SBF units.\u00a0 The Housing and Development Board (HDB) launched 6,753 flats for sale under its latest Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise. This comprises 3,485 BTO and 3,268 SBF units. The BTO flats are spread across four projects, three\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96854,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-5000-flats-offered-in-hdbs-august-sales-exercise\/","url_meta":{"origin":114728,"position":5},"title":"Over 5,000 flats offered in HDB\u2019s August sales exercise","date":"August 29, 2018","format":false,"excerpt":"\r The Housing and Development Board (HDB) has launched 5,101 flats for sale under the August 2018 Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise. \u00a0The 4,375 BTO units on offer are spread across four projects in Punggol and Yishun, said the HDB in a release on Tuesday (28\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114728"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=114728"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114728\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}