For those ready to settle down, this is the perfect time to pop the question.
Yes, we are talking about this question in particular – “Eh babe, ai BTO mai?”.
If you are looking for a house, you are definitely in luck because HDB just announced some great news in a press release.
Here are the important bits you need to know.
More BTO Flats
First things first, there will be 7,500 new BTO flats available by February 2020. Huat ah!
4,500 of these BTO flats are located in Tampines, Tengah and Ang Mo Kio and these will be done very soon, in November this year.
The other 3,000 BTO flats which are located in Toa Payoh and Sembawang will take a little longer and will be ready by February next year.
If you’d like to know more about BTOs, you can watch this video that we’ve done:
(Follow our Instagram for more informative videos!)
More People Renting Out Flats
Got an extra flat that you want to rent out for some money? Don’t worry, you aren’t the only one.
Here’s an estimate of exactly how much you can get for renting your flat based on its type.
According to the statics that HDB released, there was an increase in people renting out their flats in the third quarter of this year, from 55,763 to 56,474.
Although there was a drop in the number of approved applications to do so last quarter, there was still an improvement in the number of approved applications as compared to last year by over 7%.
Yay to getting the Government’s approval to earning more moolah!
Fewer People Purchasing Resale Houses
There is a reason why marriage proposal line is “wanna BTO?” rather than “wanna get a resale?”.
HDB’s statistics revealed that there has been a fall by 11.3% in the number of transactions in Resale Houses since this time last year.
Okay, although resale flats are not the popular choice among Singaporeans, it doesn’t mean that getting a resale house is bad.
In fact, the Resale price index (RPI) actually increased by 1% this quarter, meaning there was an increase in the price of an average resale flat.
This shows that purchasing a resale could be beneficial as the property value seems to be increasing.
But then again, this increase in price could also be the reason why more people are steering clear from purchasing a resale flat.
(Cause, obviously no one wants to pay more right?)
So if you are looking to BTO, get a resale flat, or if you just a little kaypo to find out more about the prices of flats in Singapore, you can head over to HDB Info Web.
Just a small reminder, if you want to apply for a BTO flat, note that it is on a first come first serve basis so make sure you pop that question soon.
Or just get it first and pop the question later. It’s your call.
