BTO projects with shorter waiting time to attract resale market, Huttons says

This could stabilise resale prices.

The Housing and Development Board’s BTO projects with shorter waiting time (SWT) could attract demand from the resale market, Huttons said.

The February exercise comprises 9,012 BTO and Sale of Balance Flats (SBF), with six BTO projects in Bukit Merah, Sembawang, Tampines, and Toa Payoh providing 4,692 units. 

Huttons noted that this is the smallest BTO exercise since February 2022, with supply including 1,052 Prime flats (22.4%), 1,406 Plus flats (30%), and 2,234 Standard flats (47.6%).

Close to eight in ten BTO flats feature waiting times of under four years, with SWT flats accounting for 28%—or 1,316 units—of the February supply.

Huttons highlighted that SWT flats provide buyers with a faster path to home ownership and may attract demand from the resale market to help stabilise prices.

It also cited Tampines Bliss has a wait time of one year and 11 months, the shortest since the debut of SWT flats in 2018.

The concurrent SBF exercise offers 4,320 units, with 20% of units completed and ready for key collection. This is the only SBF launch for 2026, and Huttons expects some resale demand to shift to the SBF exercise as a result.

Bukit Merah’s Redhill Peaks is the sole Prime project in this exercise, located near Redhill MRT and the town centre. The project has a subsidy recovery rate of 12%, with buyers subject to a 10-year Minimum Occupation Period (MOP), resale income ceilings, and subsidy recovery upon resale.

Huttons observed that Bukit Merah has the second-highest count of million-dollar resale flats amongst the 26 HDB towns, with the estimated application rate for 4-room flats amongst first-timers expected at around two to three.

Tampines Nova and Tampines Bliss together provide over 500 SWT units. Tampines Nova is a Plus project within walking distance of the MRT station and shopping centres, whilst Tampines Bliss is near three primary schools.

Huttons predicts application rates above five for these projects.

Kim Keat Crest is the first Plus project in Toa Payoh, with a wait time of three years and one month. The project is situated further from the MRT station, resulting in moderate prices, while higher-floor units offer views of the Kallang River.

Huttons notes that Toa Payoh has the highest number of million-dollar flats, with expected application rates for 4-room units between two and four.

Sembawang Deck and Sembawang Voyage are the only projects in this exercise offering 5-room flats, located in the Sembawang North neighbourhood, with prices starting from $384,000, according to ERA.

Huttons highlighted that these projects are near the future Sembawang Shipyard waterfront district. Application rates for 4-room and 5-room flats are expected to be below one, offering applicants a high chance of success.

The June 2026 BTO launch will offer 6,900 flats across Ang Mo Kio, Bishan, and Bukit Merah, including units in the Shunfu estate in Bishan—the first new flats in that area in four decades, ERA said.