Couples and urgent flat buyers, rejoice! New year, new way of getting an HDB flat to call your own – that is, if HDB’s latest Re-offer of Balance Flats (ROF) exercise is any indication. Think of it as the faster and more improved version of the Sale of Balance Flats exercise.
That’s right, in a blog announcement published on 7 February 2019, Minister for National Development Lawrence Wong wrote that there will be an even faster way for people eager to get their hands on the previously elusive ‘balance’ flat.
In the past, the 2017 ROF exercise, which involves the sale of flats leftover from past BTO launches, had a limited window period of only twice a year. On top of that, discerning flat buyers must wait a week to find out if their application was successful.
Through the latest reiteration of the ROF exercise, these leftover flats are now significantly more accessible for flat buyers as they are available at any time, all year-long, granted on a first-come-first-serve basis. The best part? The waiting period has been cut down from one week to the very next working day.
Some things to take note:
- The first batch of the new exercise will offer about 120 flats
- Buyers under this exercise ought to be less picky as the booking of leftover flats are based on their eligibility, not on specific unit requirements eg. flat type, location, etc.
- The refresh period on the flat pool and the cap on how many units to be sold at a time has yet to be confirmed
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