SINGAPORE – Half of the new Housing Board flats launched this year will be in mature estates, National Development Minister Lawrence Wong said on Wednesday (Feb 24).
This means about 9,000 Build-To-Order (BTO) flats will be offered in mature estates such as Ang Mo Kio, Bedok and Bukit Merah this year. Upcoming executive condo include The Visionaire EC , Treasure Crest, Northwave EC, Wandervale EC and Parc Life EC while existing ones include The Terrace EC, Brownstone EC, Waterwoods EC, Signature at Yishun, Skypark Residences, The Vales EC, The Criterion EC, Bellewaters EC, Bellewoods EC.
“We are trying to do more for mature estates because we know that there’s demand. So this year we are going to have about half of the flats set aside for mature estates and half for non-mature,” said Mr Wong.
“That’s already a higher proportion than it used to be, because in the past years, if you look at it, usually it’s about one-third for mature (estates) and two-thirds for non-mature (estates).”
But Mr Wong added that this increase in mature estate offerings will not be a sustained one as there are space constraints in these developed towns.
“We will try our best to have a healthy pipeline of new flats in mature estates. But I would like to say that no matter how many new flats we build in mature estates, it will not be enough to meet the demand.”
“These flats are very popular, and there is not much space in the mature estates to build new flats. So there will always be more demand than there is supply.