New Build to Order (BTO) flats in Singapore is seen to be launched in 2016 by the Housing and Development Board (HBD) according to Lawrence Wong, National Development Minister. These new flats will be distributed to different locations which will address to the respective need and finances of future occupants.
Lawrence Wong noted that for this year, 26,000 BTO flats will be perceived as completed after his recent visit to few families who has moved to their new flats. He further affirmed that the application percentage for BTO for those families who are first-timers and have applied in the non-mature estates for a 3-bedroom units and bigger flats, has maintained to 1.6 times. This means that the first time applicants were able to book their preferred flats on their first bid.
In the meantime, the resale market in HBD is back on track for soft-landing. They are offered at prices of 2011 levels moderation. Currently, more than half of the resale flats are clinching close to the present market value.
Wong added that they will continue to oversee the market sharply and that they will modify their building programme when needed. They will continue to focus on making the housing policies more comprehensive and will further build improved residence for all Singaporeans.
The market equilibrium has allowed the Singapore government to center on upgrading the housing policies for the benefit of more Singaporean residents. This will entail inclusion of higher income ceilings, new 2-room Flexi flats and addtional grants like the intensified Special CPF Housing Grant and the current Proximity Housing Grant.