At least 17,000 Build-to-Order flats to be launched in 2022

Published Mon, Jul 26, 2021 · 05:37 PM

THE Housing Development Board (HDB) is expecting to launch at least 17,000 Build-to-Order (BTO) flats in 2022, Minister for National Development Desmond Lee has said.

The stringent safe-management measures imposed in work sites, tightening of border controls for foreign workers and disrupted supply chain of building materials brought about by the Covid-19 pandemic have led to many delays in BTO projects.

Despite this, HDB is "on track" to meet its target of a separate 17,000 BTO launches this year, Mr Lee said in Parliament on Monday.

Last May, 3,879 BTO flats and 2,494 Sale of Balance Flats (SBF) were launched under HDB's second sales exercise for the year. Some 4,900 flats and another 3,100 to 3,600 units will also be launched in August and November respectively.

"We will continue to monitor the market situation and calibrate the supply of public housing accordingly, to ensure that the flat supply remains responsive to the housing needs of the population," he said.

He noted that the MND has no plans to reduce the number of flats to be launched in 2022, which will "certainly be at or above 17,0000 flats".

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HDB announced on Sunday that it has rolled out more BTO projects in mature estates. Last year, 13 such projects were offered, up from nine in 2017.

Mature estates, such as Clementi and Queenstown, tend to garner more applications and higher starting prices than non-mature counterparts. HDB noted that the average application rate for a BTO flat in mature estates rose from 2.8 times in 2017 to 6.7 times last year. Meanwhile, the average rates in non-mature estates such as Bukit Batok and Tengah were 2.1 times in 2017 and 4.8 times last year.

READ MORE:

  • HDB resale prices rise 3% in Q2, transactions fall amid Covid-19 curbs
  • HDB resale prices up again, 19 million-dollar flats sold in June
  • Almost 50% more BTO projects launched in mature estates in 2020 than 2017: HDB
  • Most want more subsidies, stricter criteria for BTO flats in prime areas: Desmond Lee

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