Upcoming Flat Supply

HDB will offer about 8,500 flats in 15 Build-To-Order (BTO) projects in the October 2024 BTO exercise¹. The new BTO projects will be offered as Standard, Plus or Prime flats based on their specific locational attributes. More details on the projects will be shared during the launch.

2 Flat buyers must have a valid HDB Flat Eligibility (HFE) letter to apply for a new or resale flat. For those who are interested to participate in the October 2024 BTO exercise, we encourage them to apply for an HFE letter early and submit all required documents by 15 September 2024.

3 HDB is committed to providing affordable and accessible housing options to Singaporeans. We will continue to monitor the housing demand closely, making adjustments where necessary. We remain on track to launch a total of 100,000 flats from 2021 to 2025.

HDB Resale Market

4 HDB’s flash estimate of the 2nd Quarter 2024 Resale Price Index (RPI) is 187.6, an increase of 2.1% over that in the 1st Quarter of 2024 (see Annexes A1 and A2).

5 The resale volume in 2nd Quarter 2024 (up to 27 June) is 7,208. This is 14.5% higher than that in the same period last year (6,297 cases).

6 The increase in the flash estimate of the 2Q2024 resale prices and volume were driven by a strong broad-based demand, as well as some supply tightness in the market with fewer flats meeting the Minimum Occupation Period in 2024 as compared to 2023.

7 While overall economic conditions are sound, the global economic outlook is subject to uncertainties, particularly stemming from ongoing geopolitical instabilities that could precipitate global supply and demand shocks. Domestic mortgage rates are expected to remain elevated relative to the low level seen over the past decade. Households should exercise prudence in their property purchases and ensure that they can service their mortgages over the long term. The Government will continue to monitor the property market closely and adjust its policies as necessary to promote a stable and sustainable property market.

8 The RPI provides information on the general price movements in the resale public housing market. The transacted prices of individual flats (by block and flat type) can be found via the e-services on HDB InfoWEB.

¹ Subject to review, as project details are firmed up closer to the launch date.

Upcoming Flat Supply and Flash Estimate of 2nd Quarter 2024 Resale Price Index