In his latest blog entry, Minister Khaw talks about changing BTO balloting rules so that more second timers can also succeed in BTO selection..
To ‘gear up’ for this enhancement, he has requested HDB to compute the BTO application rates for first-timers and second-timers separately which is now immediately in effect for the current BTO launch.
HDB will continue this in future BTOs to display the different application rates for each project and flat type.
How to make use of the HDB Timer Application Rate figures
In simple terms, the figures in the two columns lay down your chances of securing a flat.
If you are a first-timer, you should look at the figures for the first-timer column. Likewise, for second-timers, you should look at the second-timer application rate column.
If the figure is more than 1 (one), the applications has exceeded the number of flats available for your group. This figure is currently very high for second-timer as HDB only allocates 5% of the available flats for second timer.
The higher the figure, the more competition you have.
However, if the figure is 1 or less than one, it means the applications are lesser than the supply available, and thus there are high chances. For example, 0.5 would mean that 50% of the flats are not balloted for yet. Hence you can be sure that if your figure is 0.5, you can choose from many flats as even the last queue number will have 50% of the remaining flats to choose from!
Bottom line, the lower the figure, the better your chances are. Less than 1, you should be very pleased.
See the full entry here.
Get a FREE Samsonite Black Label Plutus 68cm Luggage worth S$950 (with min spend of S$500 per month, during the first 3 months from card issuance date) when you sign up for a HSBC Revolution credit card (w/ 2-year annual fees waiver) at www.hsbc.com.sg.