Thursday, May 15, 2008

Booking A New Flat For S$10


Why do people pay S$10 to book a new flat on HDB’s website, and then fail to show up after HDB sends them a letter asking them to go to HDB to select a flat of their choice for S$2,000?

One reason could be because people who book a new BTO flat on HDB’s website are pretty much put off by the long waiting time of at least 3 to 4 years before the new flat’s construction is completed.

Another reason could be: They don’t have S$2,000 to pay HDB to select a new flat of their choice.

Would increasing the booking fee to say S$100 help to deter these potential new flat buyers who are not exactly serious about committing to the actual purchase? Of course it would, but it might put off serious buyers of new flats too.

Those who are dead serious about committing to the purchase of a new HDB flat are upset with these non-serious and non-committal buyers for spoiling their chances of getting a flat of their choice.

Frankly speaking, I don’t think people who don’t turn up at HDB to choose a new flat on the appointment date are that much of a problem. Because even though non-committal buyers may have pushed the serious buyers further down the queue, serious buyers would automatically be moved up the queue once these non-serious buyers have been sifted out by their no show on the appointment date.

4 Comments:

Blogger JOEPSC said...

There are so many schemes from HDB that I'm lost in their 'maze'. I didn't know there is this BTO scheme, I thought it is the usual queue system.

Other reasons for backing out could be - sudden windfall or inheritance; marriage breakup; fresh idea of migration; or simply change of mind.. no one will pay anything if there is no intention at all to buy, even $10!

Friday, May 16, 2008 at 1:03:00 PM GMT+8  
Blogger Mockingbird said...

To Joepsc: The old Registration for Flat System (RFS) scheme had been totally scrapped because under that scheme, there were a lot of unsold flats left vacant for years especially in Jurong West. With Build-To-Order (BTO) scheme, HDB basically only starts building a block of new flats when there is sufficient demand for it. Looking at current property market situation, the shortage of new flats is going to last at least for the next 3 to 5 years.

The reason why people don't mind "forfeiting" their $10 booking fee is because it's pretty much an immaterial amount. And i do mean people who are not really serious about booking a new flat which they have to wait for at least 3 to 5 years before they can get the keys to. It's like they are just booking for fun, laughter, peace and joy without any commitment whatsoever.

Friday, May 16, 2008 at 3:09:00 PM GMT+8  
Blogger JOEPSC said...

Haha.. I got confused when you wrote "book a new flat on HDB’s website"... I thought BTO means 'Book Through Online'

Friday, May 16, 2008 at 5:42:00 PM GMT+8  
Blogger Mockingbird said...

To Joepsc: Ha, ha, ha...! :D BTO stands for Build-To-Order, my friend :D

Tuesday, May 20, 2008 at 12:25:00 PM GMT+8  

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