Upcoming Flat Supply

HDB will offer about 8,500 flats in 15 Build-To-Order (BTO) projects in the October 2024 BTO exercise. This is the largest supply among the three launches this year, making up more than 40% of the total supply of new flats this year. The new BTO projects will be offered as Standard, Plus or Prime flats based on their specific locational attributes. This will provide Singaporeans with a wider range of housing options, including new flats in attractive locations, to meet different budgets and needs.

2 HDB is processing the HFE applications received before 16 September 2024 from flat buyers interested to participate in the October 2024 BTO exercise.

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

HDB Resale Market

4 HDB’s flash estimate of the 3rd Quarter 2024 Resale Price Index (RPI) is 192.6, an increase of 2.5% over that in the 2nd Quarter of 2024 (see Annexes A1 and A2).

5 The resale volume in 3rd Quarter 2024 (up to 29 September) is 8,035. This is 20.0% higher than that in the same period last year (6,695 cases). Resale transactions that have surpassed the million-dollar mark continued to make up a small proportion of total resale transactions, and the vast majority of resale flats were transacted at a much lower price in 3rd Quarter 2024.

6 The increase in the 3Q2024 (flash estimate) resale prices and volume were driven by a strong broad-based demand, as well as some supply tightness in the market with fewer new flats meeting the Minimum Occupation Period in 2024 as compared to 2023.

7 The above statistics on the HDB resale market largely reflect the market conditions prior to the lowering of the Loan-to-Value limit for HDB loans from 80% to 75% on 20 August 2024 to cool the resale market and encourage greater prudence among home buyers. The Government will continue to monitor the property market closely and adjust its policies as necessary to promote a stable and sustainable property market. Meanwhile, households are strongly advised to exercise prudence in their property purchases as the property market moves in cycles and those who buy high will be hit harder when prices eventually come down.

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.

Upcoming Flat Supply and Flash Estimate of 3rd Quarter 2024 Resale Price Index