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todayonline - 9 days ago

15,000 new BTO flats for 2019 as demand remains steady

SINGAPORE — The Housing Development Board (HDB) will launch about 15,000 new flats next year across estates such as Sengkang, Jurong West and Kallang Whampoa, said the government agency in a press release on Friday (Dec 7). This is about 800 fewer flats than this year’s supply of 15,800. Of the 15,000 Build-to-Order (BTO) flats, about 2,000 in the new Tengah town will have shorter waiting times of about two to three years, instead of the usual three to four years for most BTO projects. HDB said that first-timer application rates for 3-room and larger BTO flats in all estates have remained stable in the last two years, at about two times the supply. Most first-timer families who apply for a BTO flat in non-mature estates have been able to book a flat within their first or second try, and definitely on their third try, HDB said. Last month, HDB offered its first batch of 1,100 BTO flats in Sembawang, Sengkang and Yishun with shorter waiting times. The demand exceeded the supply by about three times, or around 3,300 applications. First-timer families that are eligible for housing grants can offset up to S$80,000 — comprising the Additional Central Provident Fund (CPF) Housing Grant (AHG) of up to S$40,000, and the Special CPF Housing Grant (SHG) of up to S$40,000 — when buying new flats. First-time home buyers purchasing resale flats can also enjoy up to $120,000 in housing grants, a 50 per cent increase compared to three years ago, after enhancements to the CPF Housing Grant and the Proximity Housing Grant. BTO FLAT SUPPLY (2015 - 2019) 2019: ⬇ 15,000 2018: ⬇ 15,800 2017: ⬇ 17,000 2016: ⬆ 18,000 2015: 15,000

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