26,000 new flats to be completed in 2015

Muneerah December 30, 2015

26,000 new flats will be completed in 2015

2015 will see 26,000 new HDB flats being completed and handed over to homebuyers, National Development Minister Khaw Boon Wan said in a blog post yesterday.

These Build-To-Order (BTO) flats will include projects such as the Waterway Terraces, SkyTerrace@Dawson (pictured) and SkyVille@Dawson.

He noted 2014 marks the turn of the housing market in Singapore. “Prices have been moderating and the market shifting from a seller’s to a buyer’s market. The shift is not yet complete and 2015 should see greater stability,” he wrote.

28,000 new flats were completed in 2014, and yesterday Mr Khaw was at Punggol for the handover of a completed block at the Waterway Woodcress BTO project. He noted the project was one of the first BTO projects launched in his first year at the Ministry of National Development (MND) when the government ramped up HDB building programme to meet the supply shortfall.

Speaking to reporters at the handover, he hopes the dip in resale prices for HDB flats seen this year will continue into 2015. According to media reports, he said, “If what we observe this year continues into next year, I would consider that a very good development.”

He added the quality of public housing has improved in recent years, and possibly be on par with private housing. Citing Punggol Waterway.as an example, he said, “Especially if you jog along the waterway, you see HDB flats, you see executive condominiums (ECs), and further away you see some condominiums as well. And unless you have a trained eye, it is not easy to distinguish which is HDB, which is EC and which is a private condominium.”

 

Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

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