{"id":80973,"date":"2018-02-26T09:18:56","date_gmt":"2018-02-26T02:18:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-re-offer-of-balance-flats-exercise-sees-robust-take-up\/"},"modified":"2018-02-26T10:09:06","modified_gmt":"2018-02-26T03:09:06","slug":"first-re-offer-of-balance-flats-exercise-sees-robust-take-up","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-re-offer-of-balance-flats-exercise-sees-robust-take-up\/","title":{"rendered":"First Re-Offer of Balance Flats exercise sees robust take up"},"content":{"rendered":"


\nThe HDB scheme aims to help young couples acquire their first home more quickly.
\nThe 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).
\nOut of the 1,394 flats offered for sale, 1,300 have been taken up, of which 70 percent were booked by first-time buyers.
\nPooling all flats that remain unsold following the previous Sale of Balance Flats (SBF) exercises, the ROF exercise is part of the government\u2019s efforts to help young couples acquire their first home more quickly. In fact, 95 percent of the flat supply offered at the exercise were set aside for first-time buyers.
\nHDB noted that the August ROF exercise received over 5,500 applications for the 1,394 flats on offer, which makes it oversubscribed by almost four times.
\nAnalysts attributed the robust demand seen at the ROF exercise to the shorter waiting period.
\nPropNex CEO Ismail Gafoor believes the ROF units \u201cmake a lot of sense\u201d for buyers in urgent need of a flat.
\n\u201cIn the month of the previous ROF exercise in August, 71 percent of units were already completed,\u201d he said. \u201cIn other words, any of them who are picking up these units are able to collect their keys three to four months down the road, and yet at a discounted price of 20 to 30 percent in comparison to a neighbouring resale unit.\u201d
\nZACD Group executive director Nicholas Mak, however, noted that some home buyers are still looking for flats with good location and attributes.
\n\u201cAt first glance, the 90 percent take-up rate is very good. But we must remember that when the first batch of ROF exercise closed in August last year, the application rate was about 4.4 times. That means that for every flat that was offered, there were 4.4 households that applied for it,\u201d he said.
\n\u201cAnd considering that not all 100 percent were taken up, it means there were some applicants who were offered the chance to purchase these flats actually rejected them.\u201d
\nThis could be because ROF applicants cannot select the location of units, said Mak.
\nAs at 31 January, about one in five or 265 home buyers have already collected the keys to their new flats. Aside from the August exercise held last year, HDB has rolled out its second ROF exercise this month, while the next exercise is set in August.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…First Re-Offer of Balance Flats exercise sees robust take up<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The HDB scheme aims to help young couples acquire their first home more quickly. The...<\/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-80973","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-l41","jetpack-related-posts":[{"id":63044,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdbs-inaugural-re-offer-of-balance-flats-exercise-highly-oversubscribed\/","url_meta":{"origin":80973,"position":0},"title":"HDB\u2019s inaugural re-offer of balance flats exercise highly oversubscribed","date":"August 8, 2017","format":false,"excerpt":"\r \u00a0 The first Re-offer of Balance Flats (ROF) exercise by the Housing and Development Board (HDB) was oversubscribed when it closed on Monday (7 August), with 5,587 applications received for the 1,394 units offered, reported Today Online. First-time applicants accounted for almost 50 percent of the buyers at 2,647,\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":80973,"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":62404,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-5291-flats-in-august\/","url_meta":{"origin":80973,"position":2},"title":"HDB launches 5,291 flats in August","date":"August 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of West Scape @ Bukit Batok. (Source: HDB) The Housing and Development Board on Tuesday (1 August) launched 5,291 flats for sale in its latest Build-To-Order (BTO) and inaugural Re-Offer of Balance Flats (ROF) exercise. They comprise 3,897 BTO units spread across three projects in the non-mature\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/08\/Aug-2017-BTO-flat-prices-1024x447.jpg?fit=1024%2C447&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":103777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shorter-waiting-time-to-book-hdb-flats\/","url_meta":{"origin":80973,"position":3},"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":103937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3739-flats-launched-in-first-hdb-sales-exercise-of-2019\/","url_meta":{"origin":80973,"position":4},"title":"3,739 flats launched in first HDB sales exercise of 2019","date":"February 13, 2019","format":false,"excerpt":"\r Artist\u2019s impression of the Towner Crest BTO project in Kallang Whampoa. Source: HDB The Housing and Development Board (HDB) on Tuesday (12 Feb) launched 3,739 flats for sale in this year\u2019s first Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise. Of these, 3,162 BTO flats will be spread\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":80973,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/80973"}],"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=80973"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/80973\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=80973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=80973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=80973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}