Finance

Game-Changer for Singles: 1,900 Two-Room Flexi Flats Up for Grabs in October BTO Launch!

2024-10-04

SINGAPORE: Exciting news for singles! In an unprecedented move, about 1,900 two-room Flexi flats will be available in October’s Build-to-Order (BTO) exercise. For the first time ever, singles can apply for these units in any location across the city, breaking away from the previous restriction to non-mature estates.

This major shift aligns with the announcement made last year by the Housing and Development Board (HDB), which revealed plans to eliminate the categorization of housing estates as mature or non-mature starting in the second half of 2024. Instead, new flats will be classified as Standard, Plus, or Prime, based on their locations and other factors.

HDB has committed to reserving up to 65% of the non-senior two-room Flexi flats in the Standard, Plus, and Prime projects specifically for first-time singles during the BTO exercises. This will provide a significant boost to those looking for housing opportunities.

The October BTO exercise will offer an impressive 1,902 two-room Flexi flats across 10 developments in popular areas such as Ang Mo Kio, Bedok, Bukit Batok, Jurong West, Kallang/Whampoa, Pasir Ris, and Sengkang. This comes after the first two BTO exercises of the year, which launched 2,227 two-room Flexi flats exclusively in non-mature estates.

Market analysts have predicted a robust response, with projections of over 8,500 flats set to be launched in the upcoming October exercise. Nearly half are expected to fall under the new Plus category, reflecting the demand for more varied housing options.

Lee Sze Teck, Senior Director for Data Analytics at Huttons, noted, “There could be a surge in applications from singles as many have been waiting for the chance to apply for flats in mature estates.” He highlighted that locations like Ang Mo Kio, Bedok, Kallang/Whampoa, and Pasir Ris may see increased demand.

This change is part of a broader strategy to expand public housing options for singles, a journey that began back in 1991. Initially, singles aged 35 and above were allowed to buy HDB flats on the resale market, albeit limited to specific locations and smaller flats. By 2013, they gained the ability to apply for new two-room flats in non-mature estates, but now, with this new announcement, they can apply for any available location.

In an upcoming initiative set to take effect in mid-2025, eligible singles will receive priority access when applying for a BTO flat intended for living with or near their parents. More details regarding this policy shift will be shared soon.

“Our commitment remains steadfast in adapting our housing policies to meet the evolving needs and aspirations of singles seeking their own homes,” assured HDB.

Don’t miss this golden opportunity in October – it could be your chance to secure a home of your own!