HDB to Offer About 15,000 BTO Flats in 2019
HDB will launch about 15,000 new flats in 2019, maintaining a steady level of BTO (Build-to-Order) flats, similar to this year’s supply of 15,800 flats. A wide selection of flats will be offered across mature and non-mature estates, including Sengkang, Jurong West and Kallang Whampoa, to meet the diverse housing needs of Singaporeans.
2 In the last two years, the first-timer application rates for 3-room and larger BTO flats in all estates have remained stable at about 2 times. Most first-timer families who apply for a BTO flat in non-mature estates have been able to book a flat within their first or second try, and definitely on their third try.
3 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.
4 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 2 to 3 years from the point of application, instead of the usual 3 to 4 years for most other BTO projects.
5 The first batch of BTO flats with shorter waiting time was offered in Sembawang, Sengkang and Yishun in November this year. Some 3,300 applications were received for the 1,100 flats offered. This translates to an overall application rate of 3 times.
6 Eligible first-timer families buying new flats can enjoy up to $80,000 of housing grants, comprising the Additional CPF Housing Grant (AHG) of up to $40,000 and the Special CPF Housing Grant (SHG) of up to $40,000. In addition, HDB has also taken steps to enhance grants for resale flats, such as the enhancement to the CPF Housing Grant last year and the Proximity Housing Grant this year. First-time home buyers who purchase a resale flat can enjoy up to $120,000 in housing grants, a 50 per cent increase compared to three years ago.
7 The buying and selling of HDB resale flats have also been made easier and faster with the new HDB Resale Portal launched early this year. The portal has since provided much convenience to resale flat buyers and sellers, with the resale transaction time significantly shortened from 16 weeks to 8 weeks, if they submit the necessary documents promptly.
8 Moving forward, HDB will continue to monitor the housing needs of Singaporeans closely and calibrate our flat supply carefully to provide affordable and quality housing to all.