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Fewer BTO flats to be launched in 2015
THE government will launch 25 per cent fewer new Build-to-Order (BTO) flats next year, said National Development Minister Khaw Boon Wan in a blog post on Monday evening.
In 2015, the government will launch BTO exercises once a quarter; this compares to the six-times-a-year launches seen in the past few years.
But the BTO launch size will be maintained at 4,000 units - translating into a BTO programme of about 16,000 units next year.
"This should be sufficient to meet demand, without causing a glut in the public housing market," said Mr Khaw.
The reduction would mark a further slowdown in pace - the BTO programme has already been reduced by 10 per cent to 22,400 units this year - and avoid an oversupply in the market.