The BTO flat supply next year includes some 2,000 units in the new Tengah town. Source: HDB
The Housing and Development Board (HDB) announced last Friday (7 Dec) that it intends to launch around 15,000 Build-To-Order (BTO) flats for the whole of 2019, down from the 15,800 units it launched this year.
“A wide selection of flats will be offered across mature and non-mature estates, including Sengkang, Jurong West and Kallang Whampoa, to meet the diverse housing needs of Singaporeans,” it said in a release.
“The continued supply of flats coming on stream will provide affordable and accessible housing options for young couples planning to start their marriage and parenthood journey, as well as for second-timer families, multi-generation families, elderly and singles.”
The Housing Board decided to slightly reduce the supply of BTO flats as the application rate by first-timers for 3-room and bigger BTO flats across all estates have remained stable at around two times.
“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,” noted HDB.
In particular, the BTO flat supply next year includes some 2,000 units in the new Tengah town with shorter waiting times. Buyers can expect to get the keys to their flats in around two to three years after applying, instead of the typical waiting time of three to four years.
The maiden batch of BTO units with shorter waiting times were launched in Yishun, Sengkang and Sembawang last month, with the 1,100 units attracting about 3,300 applicants.
Furthermore, qualified first-timer families purchasing new flats can obtain maximum housing grants worth $80,000, consisting of the Special CPF Housing Grant of up to $40,000 and as much as $40,000 in the Additional CPF Housing Grant.
HDB also improved the CPF Housing Grant in 2017 and Proximity Housing Grant in 2018. Specifically, First-timers who buy a resale HDB flat can get up to $120,000 in housing grants, a 50 percent rise from the grant amount given out three years ago.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org