Data on Unsuccessful HDB Housing Loan Applications in Past Three Years

Hazel Asks the National Development Minister

Ms Hazel Poa asked the Minister for National Development (a) for each year in the past three years, how many HDB housing loan applications have been unsuccessful; (b) what are the reasons they have been unsuccessful; and (c) what is the breakdown of the number of these unsuccessful applications by the different reasons.

Mr Desmond Lee: From 2019 to 2021, HDB received about 61,000 applications on average each year for an HDB Loan Eligibility Letter. Of these applications, an average of about 4,600, or 7.5% of all applications, were unsuccessful each year. 

About half of the applications were unsuccessful as the applicants were unable to fulfil HDB’s credit assessment criteria. For instance, applicants may not have met the minimum employment period. The remaining applications were unsuccessful either because the applicants were ineligible for an HDB housing loan or ineligible to purchase an HDB flat. For instance, they may have already taken two HDB housing loans or their household income may have exceeded the income ceiling. 

Source : Written Answers to Questions