Doing more for mature estates

SINGAPORE – About half of this year’s new Housing and Development Board (HDB) flats (about 9,000) will be launched in mature towns, said National Development Minister Lawrence Wong today.

This proportion is higher than last year where new flats in matured estates accounted for one-third of the supply. Upcoming executive condo include The Visionaire EC , Wandervale EC and Parc Life EC while existing ones include The Terrace EC, Brownstone ECWaterwoods EC, Signature at Yishun, Skypark Residences, The Vales EC, The Criterion ECBellewaters EC, Bellewoods EC.

“We are trying to do more for mature estates because we know that there’s demand,” said Mr Wong, who was speaking to reporters at the HDB hub after visiting the renovated HDB Sales Atrium. “So this year we are going to have about half of the flats set aside for mature estates and half for non-mature (estates).”

He added that many home buyers consider location as one factor when buying a flat, noting that flats in Bidadari launched in the previous exercise were “highly oversubscribed”.

For the current Build-to-Order sales exercise, 70 3-Gen flats will be on offer in Bidadari. “It’s part of our efforts to have more larger flats options in mature estates so that extended families can stay together,” said Mr Wong.

He added that in the last few years, the HDB has been “ramping up” its supply to keep up with housing needs demands. “Now that we have managed to balance the market, HDB has a bit more (bandwidth) to look at other things, including how to enhance the buying experience of home buyers and how to help them make more informed decisions.”

While the HDB will try to have a “healthy pipeline” of new flats in mature estates, “I would like to say that no matter how many flats we build in mature estates, it will not be enough to meet the demand”, said the minister. “These flats are very popular, and there is not much space in the mature estates to build new flats. So there will be always be more demand that there is supply,” he added.

This year, 18,000 Build-To-Order (BTO) flats will be launched. The first BTO exercise this month will be located in non-mature estates – Bukit Batok, Sengkang – and mature estate, Bidadari.

In May’s BTO exercise, buyers can choose flats from matures estates such as Ang Mo Kio and Bedok.

executive condo and mnd pic 2