HDB Annual Report 2020/2021

Enhancing the flat buying process To make it more convenient for flat buyers and sellers, HDB launched the HDB Flat Portal in January 2021 as part of its e orts to streamline and simplify the process of buying and selling HDB flats. The main features of the portal include listings of current and upcoming new flats, customised financial calculators for buyers and sellers, as well as a loan-listing service with information on housing loans o ered by HDB and participating financial institutions. For flat buyers wanting to get a better sense of the interior of a flat, the newly revamped show flats at the My Nice Home Gallery feature fresh interior design ideas including work-from-home elements and smart devices. Flat buyers can experience a virtual walk-through of the show flats and visualise the design potential of their homes. Working hard to keep projects on track A total of 8,234 flats were completed in this FY. Of these, 7,117 were BTO units, including the first 2 smart-enabled precincts in Punggol Northshore which incorporated smart technologies in its planning, design, and estate maintenance. Another 810 units under the Selective En bloc Redevelopment Scheme (SERS), and 307 rental flats were also completed. As of 31 March 2021, 75,322 BTO, SERS and rental flats are under construction. With building supplies and manpower disruptions brought about by the COVID-19 pandemic, coupled with Safe Management Measures at construction sites, most of HDB’s building projects will take a longer time to complete. To make up ground, HDB put in place mitigating measures and has been working hard to keep BTO projects on track, while ensuring that the safety and well-being of workers, and the quality of the projects would not be compromised. HDB kept in touch with flat buyers and updated them regularly on the revised completion dates. A ected parties who were unable to find alternative housing arrangements were also o ered assistance by HDB where possible. Assistance for vulnerable groups With the COVID-19 pandemic impacting Singapore’s economy, HDB introduced measures to help home owners who might need assistance with their mortgage payments: • Suspension of late payment charges from April 2020 till September 2021 • Waiver of mortgage interest on a temporary basis under the Reduced Repayment Scheme or Deferment Scheme • Extension of repayment period for instalment plan beyond the previous maximum allowable period of 5 years • Extension of the mortgage loan tenure beyond the previous maximum allowable period of 30 years, subject to a 65-year age ceiling From January 2020 to March 2021, more than 5,976 households benefited from various financial assistance measures. The Home ownership Support Team (HST), set up in December 2019 to support public rental households in their journey towards home ownership, has engaged 654 rental households as of the end of 2020. 227 households were assessed to be ready for home ownership within the next 2 years, of which 23 had either collected keys or moved into their new homes. 16 HDB ANNUAL REPORT 2020/21