More BTO flats to be launched in 2020 to meet higher demand

Mon, Dec 16, 2019


[SINGAPORE] Around 16,000 to 17,000 Build-To-Order (BTO) flats will be launched in 2020 to meet additional demand following key policy changes this year, National Development Minister Lawrence Wong announced in a blog post on Monday morning.

The Ministry of National Development raised the income ceiling in September for eligible first-time home buyers and introduced a new Enhanced Central Provident Fund (CPF) Housing Grant.

More young couples benefitted from the increased housing subsidies for their first Housing Board (HDB) flat, enjoying up to S$80,000 in grants when they buy a new flat and up to S$160,000 in grants when they buy a resale flat in the open market.

The projected number of BTO flats for next year is more than this year's supply of 14,000 flats.

Mr Wong said: "Besides ensuring housing affordability, we also want existing HDB flats to remain good homes for their owners. Hence, we are investing significantly in the upgrading of HDB estates."