July HDB launches set to see strong demand amid policy shifts

The July SBF exercise includes 4,662 flats, of which 1,773 are already completed. 

The July 2025 Build-To-Order (BTO) and Sale of Balance Flats (SBF) launches by HDB are expected to attract solid demand, with analysts spotlighting high-demand locations, policy tweaks favoring singles and second-timers, and a surge in balance flat supply.

PropNex highlighted Clementi Emerald as a likely top draw: “Among the projects, the 753-unit Clementi Emerald could be the most in demand due to its shorter waiting time of 34 months, convenient location and the popularity of this mature town among households.”

“We believe there could be pent-up demand for flats in Clementi as the last BTO projects – Clementi NorthArc and Clementi Peaks – were launched in February 2017,” it added.

Huttons pointed out the project's rare location near Clementi MRT and noted that prices for its 4-room flats are higher despite being further from the city.

“Clementi Emerald has a higher clawback subsidy than the other three Prime BTO projects despite being the furthest from the city centre… applicants have to pay higher prices for 4-room flats in Clementi Emerald than Alexandra Peak and Alexandra Vista.”

The July SBF exercise includes 4,662 flats, of which 1,773 are already completed. Concurrently, HDB is conducting a Sale of Balance Flats (SBF) exercise in July, offering 4,662 flats. Of these, 1,773 SBF flats are already completed.

“Probably the largest supply of flats under the SBF exercise since 2012… These SWT flats and completed SBF flats may pull demand away from the resale market and ease the demand pressure… which is facing the tightest supply in probably 10 years,” Huttons noted.

The BTO exercise marks the first to reflect changes in Deferred Income Assessment (DIA), wth Huttons saying the change in deferred income assessment (DIA) will see more young couples qualify and there may be more applications for DIA.

PropNex noted changes to benefit singles and second-timers, expecting higher flat demand from singles for 2-room Flexi flats, and stronger participation from second-timer families for larger flats

It added that the allocation quota for second-timer families will increase — with up to 20% of 3-room Standard flats (up from 15%) and up to 10% of 3-room Plus, Prime flats, and 4-room or larger units (up from 5%) set aside for them.