News

Residential Property

Staff Reporter

, Singapore

Published:

16 days ago

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Photo by Milin John from Unsplash

HDB 'on track' to launch 100,000 flats by 2025

It launched over 67,000 flats in February alone.

The Housing and Development Board (HDB) launched over 67,000 flats in February and is on track to launch 100,000 flats from 2021 to 2025.

In 2024, HDB plans to launch 19,600 Build-To-Order (BTO) flats. In the February 2024 BTO and Sale of Balance Flats exercises, HDB launched 4,126 flats across seven BTO projects and 1,588 balance flats, respectively.

In June, HDB will offer 6,800 BTO flats in Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands, and Yishun. Interested buyers must apply for an HFE letter and submit all requirements by 15 May.

Meanwhile, HDB’s Resale Price Index (RPI) for 1Q24 is 183.7, increasing 1.8% QoQ and 1.3% YoY, while retail transactions for the period rose 8.0% QoQ to 7,068, from 6,547 in 4Q23.

In 2023, the HDB resale prices rose 4.9%, indicating a stabilising resale market.

In addition, the number of approved rental applications for HDB flats in 4Q23 decreased by 4.0% to 9,398 and was down 2.7% YoY. In 1Q24, rentals rose slightly by 0.3% QoQ to 58,355 from 58,159 in the previous quarter.

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