Majority First-timer Families Applied Successfully for BTO flats: Lawrence Wong

SINGAPORE: From 2013 to 2015, about 9 in 10 first-timer families and 7 in 10 second-timer families successfully applied for their Build-to-Order (BTO) flats in the non-mature estates, said National Development Minister Lawrence Wong in Parliament.

Mr Wong added that most flat applicants that were unsuccessful in multiple applications had applied for flats which are limited in supply but in high demand, such as BTO flats in the mature estates and balance flats. His reply was in response to a parliamentary question by MP Alex Yam. Executive condo in the market include The Terrace EC, Brownstone EC, Bellewaters EC, Skypark Residences, Signature EC at Yishun while upcoming ones include Visionaire EC, Wandervale EC and Parc Life EC.

HDB tapered the BTO supply to 22,400 flats in 2014 and to 15,100 flats in 2015 after the demand-supply balance was restored, the Minister said.

In 2016, HDB plans to offer about 18,000 BTO flats to meet new demand from recent policy changes such as the higher income ceilings and the enhanced Special CPF Housing Grant, Mr Wong said.

“We will continue to monitor the market closely and adjust the supply when necessary, in line with our broader plan to keep supply at a sustainable level over the long-term,” he added.

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