Is there a shortage of HDB flats, or are Singaporeans simply being too picky? Development Minister Mah Bow Tan said in parliament last week that only 6% of cases where first-time buyers claim they cannot get flats are genuine. HDB’s checks found that applicants are rejecting flat offers as long as they are not in their ‘first choice’ locations. What more, they refuse to take flats that don’t have a brilliant view.
Minister Tan also claimed that the massive oversubscription rates for new flats are misleading, as half the number of flat applicants choose not to book a flat even when invited to do so on the first day of selections, when all flats are available.
The HDB released 13, 500 flats last year, and will release around 12, 000 or more this year. This is more than the total number of flats in some of the mature estates in Singapore, such as Clementi and Jurong East.