Build-To-Order – HDB flat for rent in Singapore
HDB flat for rent in Singapore – The Build-To-Order (BTO) System is a more responsive system that gives new applicants more flexibility in timing & choice of location/type of new flats. Eligible buyers planning to move into a new HDB flat in the near future can apply for flats in their preferred location from specific sites launched.
As First-timer applicants generally have more urgent housing needs than second timers.
HDB safeguards 85% (Non-Mature Estates) & 95% (Mature Estates) of the flats available for public application for them.
Procedure:
- HDB will announce sites for new flats, come out with the flat designs, announce total number of units offered & indicative price range.
- Interested flat buyers can submit their applications within the given period.
- HDB conducts a computer ballot to determine the queue position to book flats and buyers are to pay a booking fee of $2000 (>4rm); $1000 (3rm); $500 (2rm); or $250 (studio).
- Balloting system is allocated on a 85:15 / 95:5 ratio (1st timer : 2nd timer- Non-Mature Estates / Mature Estates)
- When 70% of the flats are booked, HDB confirms construction and applicants will be asked to pay the balance of 10% of the purchase price (if taking 90% loan).
The Optional Component Scheme (OCS) is also available through the BTO option. It allows the applicant to opt for finishes e.g. flooring and/or internal doors. Cost of the package is factored into the purchase price. HDB flat for rent in Singapore
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