Launch Delayed to Give Time for the Implementation of New Housing Policies

SINGAPORE – The last two Build-to-Order (BTO) flat launches this year will be merged into one “mega launch” in November.

Mr Khaw said the September exercise was delayed to give time for the implementation of new housing policies, such as a new Two-Room Flexi Scheme, an increase in the income ceiling for new flats, and enhancements to the Special CPF Housing Grant.

In his National Day Rally speech (Aug 23), Prime Minister Lee Hsien Loong announced to effervescent applause that monthly household income ceilings for new HDB flats and ECs will be increased by S$2,000 to S$12,000 and S$14,000, respectively. The existing executive condo includes Terrace EC and Brownstone EC while upcoming ones include Signature At Yishun EC and The Criterion EC.

executive condo and national day rally pic 3

This means a “bumper crop” of about 12,000 new flats will go on sale that month, said National Development Minister Khaw Boon Wan in a blog post on Wednesday.

Of these, 7,000 will be BTO flats in six towns – Bidadari, Punggol Northshore, Bukit Batok, Choa Chu Kang, Hougang and Sengkang.

The remaining 5,000 will be Sale of Balance Flats – flats not sold in previous BTO exercises.

Two BTO launches were originally scheduled in September and November this year. The September exercise would have launched flats in Punggol Northshore as well as the highly anticipated Bidadari estate.

He said: “As implementation of any new policy does require some time, we therefore decided to delay the September BTO launch by a few weeks, so that these initiatives can benefit as many Singaporeans as possible starting from the very next BTO launch.

“Looking at the timing of the November BTO launch, we decided that a practical way is to merge the two launches into one mega launch in November.”

Out of the 7,000 new BTO flats, about 2,100 flats will be in Bidadari and 2,700 in Punggol Northshore.