Dear A.S.S. Editor
The latest BTO exercise launched by HDB have thrown up a surprise, in that the Sale Of Balance Flats (SBF) being offered numbered 3,946 flats in 11 young towns and 14 mature estates. These flats have remained unsold from the previous BTO launches.
Interesting to note that among the mature estates close to the city centre, Queenstown offered with 523 sale of balance units, and Kallang/Whampoa have 263 units. These numbers are staggering, as they are quite comparable to sales of the BTOs themselves. The question is, why are there so many SBF units still available, and the numbers quite high in mature estates. Typically, units in mature estates are snapped up quite fast.
Is it because the prices are getting too high for young families to actually purchase a house? The original aim of the HDB was to provide a roof for all families in Singapore with affordable housing. How then can a BTO costing $300k at least is called affordable? When the $300k for the BTO is only for a three room flat?
Have the HDB totally abandoned their main duty, and instead focused on making huge financial gains, while the population suffered with housing loans and payments? Is that also the reason that the sales of balance flats are seeing unprecedented high numbers, because people just cannot afford to buy the flats?