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HDB sees strong demand for balance flats Posted: 29 Sep 2011 12:20 AM PDT Unsold Housing & Development Board (HDB) flats have seen strong response, with over 14,000 potential home buyers applying for the flats. Called "balance flats," the 2,847 flats include outstanding units from earlier Build-to-Order (BTO) launches, those bought back by the HDB and surplus replacement flats under the Selective En Bloc Redevelopment Scheme. The balance flats are spread across 15 towns, including non-mature estates such as Woodlands and Punggol and mature estates such as Bukit Merah and Queenstown. Launched on 22 September, the unsold HDB flats were put on sale along with 5,415 BTO flats in Sengkang, Jurong East, Jurong West, Punggol and Ang Mo Kio. Prices of balance flats range from S$82,000 for a two-room unit in Sengkang to S$611,000 for a five-room flat in Bukit Merah. Apart from this exercise, a parallel BTO launch for new flats was conducted on the same day. However, it received muted response, with some BTO estates and flat types undersubscribed on the last day of application. Prices of the BTO units range from S$70,000 for a 398.3 sq ft studio apartment in Sengkang, while a 1,205.5 sq ft five-room unit in Punggol starts from S$375,000. Applications for both exercises closed yesterday. Market experts believe the large demand was due to the revision of the income eligibility policy, to S$10,000 from S$8,000. "The Sale of Balance Flats exercise was supposed to be the supporting cast and the BTO exercise the main star of the show. But the supporting cast has outshone the main star now," said Nicholas Mak, Research Head at SLP International.

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