Announcing the release of 1000 more HDB flats accumulated from previous launches, under its various schemes, the Housing Development Board will put up a total of 26,000 flats in estates all over Singapore. Will this benefit you?
The Housing & Development Board (HDB) will release some 1,000 left-over flats accumulated from previous launches under its ‘sale of balance flats‘ exercise later this year – boosting the total flat supply for 2011 to 26,000 units.
Just last week, HDB ramped up the supply for the full year from 22,000 units to 25,000 units. This was done by bringing forward the projects planned for the first quarter of 2012 by a couple of months.
More HDB flats will create a new Singapore skyline soon.
And yesterday, HDB said the supply will be increased further after National Development Minister Khaw Boon Wan asked the government agency to look into releasing the 1,000 left-over units.
‘We have some 1,000 balance units accumulated from earlier sale exercises,’ Mr Khaw said in his Housing Matters blog yesterday. ‘With these, we are looking at a total supply of 26,000 units by year-end.’
Mr Khaw also said that the 4,000 new flats HDB released across six projects at the end of last month – the largest supply of new flats ever rolled out at one go – drew around 13,000 applications.
This gives an application rate of over three times – similar to the application rate for new HDB flats launched in April, and lower than the application rates of five times for the February launch and seven times for the March launch.
‘With this launch, we have offered about 12,000 units this year, leaving another 13,000 units to be launched in the next seven months,’ Mr Khaw said.
Treegrove BTO flats in Woodlands. Image courtesy of HDB.
‘With monthly launch, this will mean an average launch size of about 1,800 units, smaller than the recent launch of 4,000 units. For the June BTO (build-to-order) currently being prepared, we are looking to launch about 2,100 flats in Bukit Panjang and Sengkang.’
Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.
Editor’s Commentary:
More HDB flats will be subsequently launched over the remaining seven months of 2011, keep updated on latest property news to find out in which estates. Under which schemes could you purchase flats?
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Good article!
(Mr Khaw) also said that he will ramp up the supply of new HDB flats this year and next year. This could afecft sales of mass-market homes as some buyers might decide