Budget 2025: Government to pay ‘close attention’ to public housing as HDB launches over 50,000 new flats over next three years
THE government will continue to pay close attention to public housing, following its moves to ramp up its Build-to-Order (BTO) supply over the next few years, said Finance Minister Lawrence Wong on Tuesday (Feb 18).
In his Budget speech delivered in Parliament, PM Wong noted that the government has ramped up its BTO supply decisively, and application rates have stabilised and fallen below pre-Covid-19 levels.
The government will continue with “the robust supply pipeline”, he said.
The finance minister highlighted that the Ministry of National Development will launch more than 50,000 new flats in a wide range of locations over the next three years, including Woodlands, Bayshore and Mount Pleasant.
This figure was previously announced by the Housing Development Board (HDB) in January, when it said it would supply about 19,600 BTO flats across three sales exercises in 2025.
PM Wong also noted that Singaporeans are concerned about the higher prices of resale flats.
The government’s cooling and supply measures will eventually help to stabilise the resale market, he said.
More options will also be offered to home seekers who want their flats sooner, said PM Wong. HDB previously announced that of the 19,600 BTO flats to be offered this year, around 3,800 flats will have a waiting time of less than three years, which is around 20 per cent of the full-year’s BTO supply.
“HDB also launched the largest ever sale of balance flats exercise last week, with around 5,500 flats available islandwide, and it plans to hold another balance flat exercise later this year,” he said.
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