Khaw elaborates on BTO exercise
In his latest blog entry, Mr Khaw said when an application rate is about 2, which means two applicants for one unit, almost all applicants will get a chance to select. This is because not all who are asked to select do so.
For the January BTO, practically all first-timers got to select a flat. Even second-timers got an 84 per cent chance to select.
But when the application rate increased to 5 or 8, the chances fell significantly, especially for second-timers.
Mr Khaw said that the HDB is ramping up BTO launches to reduce the application rate, and hence raise the chances for applicants.