RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB to launch 15,000 BTO flats in 2019

It will include 2,000 flats with shorter waiting time in the new Tengah town.

The Housing and Development Board (HDB) will launch approximately 15,000 new build-to-order (BTO) flats in 2019 across mature and non-mature estates including Sengkang, Jurong West and Kallang Whampoa in an effort to meet the public’s diverse housing needs.

The 2019 BTO flat supply includes about 2,000 flats with shorter waiting time in the new Tengah town. Home buyers can expect to obtain the keys to these flats in about two to three years from the point of application as opposed to the usual three to four for most BTO projects.

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HDB released the first batch of BTO flats with shorter waiting time in Sembawang, Sengkang and Yishun in November, of which 3,300 applications were received for the 1,100 flats offered.

“The continued supply of flats coming on stream will provide affordable and accessible housing options for young couples planning to start their marriage and parenthood journey, as well as for second-timer families, multi-generation families, elderly and singles,” HDB said in a statement.

In the last two years, the first-timer application rates for three-room and larger BTO flats have remained stable, the announcement highlighted.

Meanwhile, eligible first-timer families buying new flats can access up to $80,000 worth of housing grants comprising the additional central provident fund (CPF) housing grant (AHG) of up to $40,000 and the special CPF housing grant (SHG) of up to $40,000.

Also read: HDB resale prices up 0.2% in November

“HDB has also taken steps to enhance grants for resale flats such as the enhancement of the CPF housing grant from 2017 and the proximity housing grant from 2018,” the announcement stated. First-time home buyers who purchase a resale flat can access up to $120,000 in housing grants which is a 50% increase compared to 2015.

The process of buying and selling HDB resale flats has been made easier and faster with the new HDB resale portal which was launched in early 2018 that cut transaction times between buyers and sellers from 16 weeks to eight weeks. 

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