2016’s BTO flat supply to benefit first-timers

First-time HDB applicants will be the main group to benefit from this year’s ramped-up BTO (build-to-order) supply, according to the new National Development Minister, Lawrence Wong.

Punggol HDB EstatePhoto: Punggol HDB estate

The Housing Development Board (HDB) will be rolling out 18,000 new units over the course of the year, almost 3,000 more than last year’s 15,100 units. Last November’s mega-launch released 12,000 new flats in popular estates such as Bidadari to the public’s overwhelming response. Though the number of new BTO flats reaching completion within these 2 years will increase, 26,000 new flats were completed last year, the authorities maintain their stance in providing a balanced and stable supply of homes for Singaporeans.

With new priority schemes and higher income ceilings in place after last year’s elections, more first-time applicants have been successful in securing a unit within a shorter time frame. From 2011 to 2013, HDB had ramped up their supply and construction of BTO flats to meet the pent-up demand from the decade before.

Last year, the number of flats launched was reduced from 16,900 to 15,100 as the resale HDB flat market slowly stabilised. Those hoping to apply for a new BTO flat directly from HDB will be happy to hear of the increase in supply which will be spread out over various flat types and HDB estates.

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