Only 16,000 Build-to-Order (BTO) flats will be launched in 2015, down 25 percent from this year, said National Development Minister Khaw Boon Wan in a blog post.
This is because the public housing market is stabilising after more than 25,000 BTO flats were launched each year between 2011 and 2013 to meet pent-up demand from first-timers.
That amounts to a total of 77,000 new flats in the three years, which has been effective in clearing the waiting queue.
As a result, the BTO programme was reduced by 10 percent to 22,400 units this year and the housing board is on track to deliver on this schedule, said Mr Khaw.
He also noted that fewer BTO launches will take place next year. In recent years, such launches occurred six times a year, or every other month at an average of around 4,000 units per exercise. This will be reduced to four times a year, or once every quarter. But the BTO launch size will remain at about 4,000 units.
Meanwhile, the government will take further steps to help families live closer to one another. Currently, such applicants get extra ballot chances.
“In future BTO exercises, we will set aside a certain proportion of flat supply for those applicants who want to live close to one another. In addition, first priority will also be given to those who are applying to live under one roof,” said Mr Khaw.
“First priority will also be extended to parents who own a flat in the mature estate and apply for a flat in the non-mature estate to live near their married child,” he added.
These suggestions came up during the recent Housing Conversations and will be introduced in the November BTO exercise.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
