Singapore must brace itself for 200,000 new homes

There'll be enough units for everyone, says Minister Khaw.

In a blog post, Minister for National Development Khaw Boon Wan said that some 200,000 new housing units will be constructed. 80,000 of which are private properties, 10,000 are ECs and about 110,000 are public housing. "This is equivalent to the building of four new Ang Mo Kio towns by 2016, and we are still building more," he wrote.

Here's more from the blog post:

Last week’s package of property cooling measures is necessary to soften the market. The alternative of doing nothing, allowing the prices to run beyond economic fundamentals, will only invite a large and serious price correction in the future. That will not do anyone any good.

The package was carefully formulated to protect first-timers. Investors buying additional properties may be disappointed but I hope they will in due course come to accept that the package will also be good for them. In any case, many of the new measures are counter-cyclical in nature, to be lifted when the market regains its balance.

The market is temporarily not in balance because of under-building in the past, and high investment demand today. But we have been ramping up supply and in 2, 3, and 4 years’ time, supply will have caught up with pent-up demand.

In fact, more detailed data are also available: on URA’s website (for private properties) and HDB’s website on upcoming housing supply, and also information on transacted sale prices and rental rates for individual flats.To help buyers track this, I have put up a chart on my Facebook page to give a visual representation of the upcoming housing supply. We will refresh the chart with each GLS/BTO update.

For those contemplating buying a property, please study these websites and be prudent. Do bear in mind that the current low interest rate is unusual, and the normal high interest rate will return in time to come.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia