{"id":121069,"date":"2021-07-26T01:05:25","date_gmt":"2021-07-25T18:05:25","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/number-of-new-bto-projects-in-mature-estates-increased-by-almost-50-says-hdb\/"},"modified":"2021-07-26T10:03:23","modified_gmt":"2021-07-26T03:03:23","slug":"number-of-new-bto-projects-in-mature-estates-increased-by-almost-50-says-hdb","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/number-of-new-bto-projects-in-mature-estates-increased-by-almost-50-says-hdb\/","title":{"rendered":"Number of new BTO projects in mature estates increased by almost 50%, says HDB"},"content":{"rendered":"


\nIn the last four years, almost 25,600 BTO flats were offered within older residential areas such as Queenstown, Bukit Merah, Tampines, Toa Payoh, Ang Mo Kio, Bishan and Clementi.
\nThe Housing and Development Board on Sunday (25 July) said the number of new Build-to-Order (BTO) projects in mature estates have increased by almost 50%, from nine in 2017 to 13 last year, reported TODAY.
\nWith this, the proportion of new BTO flats in mature towns also grew from 44% to 55% over the same period, said HDB.
\nThis is due to the strong demand for housing within older residential areas, such as Ang Mo Kio, Clementi, Queenstown, Bishan, Bukit Merah, Tampines and Toa Payoh.
\nNational Development Minister Desmond Lee revealed on his Facebook page that HDB offered almost 25,600 flats within these areas over the last four years.
\nHe shared that young couples had messaged him asking for help to apply for a BTO flat within mature estates in recent years, since they wished to live near their parents who have a home within these older towns.
\n\u201cWhile we have set aside most of the new flat supply for such first-timer families, demand for new flats in mature estates remains high,\u201d he said as quoted by TODAY.
\nTo meet the needs of homebuyers, around 17,000 BTO flats will be launched this year, up from 14,600 flats in 2019 and 16,800 units in 2020.
\nBut with application rates for BTO flats in mature estates being higher, HDB encouraged homebuyers to consider non-mature estates for a better chance of securing a unit.
\nSpecifically, the application rates for BTO projects in mature towns jumped to 6.7 times in 2020 from 2.8 times in 2017. Over at non-mature towns, the application rates climbed to 4.8 times from 2.1 over the same period.
\nOverall, demand for new BTO flats increased, with each unit receiving 5.8 applications in 2020, up from 2.3 in 2017.
\nIn fact, the same trend was also observed in the Sale of Balance Flats (SBF) exercises\u2014in which flats not sold in previous BTO projects are offered\u2014between 2017 and 2020.
\nUnder this scheme, the average application rate stood at 5.4 times for flats located in mature towns and 4.8 times for those in non-mature towns.
\nThe strong demand for housing is driven by the growing number of marriages in the last decade. The number of married couples increased from 880,800 in 2010 to 977,300 in 2020.
\nIn the near term, HDB expects higher housing demand due to a bigger number of \u201cecho\u201d boomers, which refer to those born in the late 1980s to 1990s, reaching marriageable age.
\nAnother factor is the rising trend of smaller households as singles and young couples prefer to live separately from their parents, albeit still close by.
\nA survey conducted by HDB in 2018 showed that the proportion of married couples 54 years old and below who prefer to live near their parents increased to 24.3% in 2018 from 21% in 2013.
\nConversely, the proportion of older residents aged 55 and above living close to their married children grew to 22.9% from 21.4% over the same period.
\nThis trend is mirrored in the higher take-up rate of the Proximity Housing Grant, which provides families acquiring a resale flat a grant of up to $30,000 if they choose to reside near other family members.
\nAccording to HDB, the proportion of resale deals with this grant rose by around 21% across both mature and non-mature towns between 2017 and 2020.
\n\u201cWhile the majority of past BTO supply have traditionally come from the non-mature estates, there is a continued need to provide for more new flats in mature estates as well, so that the children of HDB residents living in mature estates can also have the opportunity to live close to their parents\/parents-in-law for better family support,\u201d said HDB as quoted by TODAY.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Number of new BTO projects in mature estates increased by almost 50%, says HDB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the last four years, almost 25,600 BTO flats were offered within older residential areas...<\/p>\n","protected":false},"author":1,"featured_media":121070,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-121069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/BTO-FLAT-hdb.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vuJ","jetpack-related-posts":[{"id":112306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-8170-flats-in-november-sales-exercise\/","url_meta":{"origin":121069,"position":0},"title":"HDB launches 8,170 flats in November sales exercise","date":"November 12, 2019","format":false,"excerpt":"\r This includes 4,571 BTO flats in Tengah, Ang Mo Kio and Tampines, as well as 3,599 flats under the Sale of Balance Flats scheme within mature and non-mature estates, like Bishan and Clementi. Image: HDB The Housing and Development Board (HDB) launched 8,170 flats for sale in the year\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-demand-for-new-flats-in-mature-estates-may-boost-resale-prices\/","url_meta":{"origin":121069,"position":1},"title":"Strong demand for new flats in mature estates may boost resale prices","date":"July 26, 2021","format":false,"excerpt":"\r Strong demand for new flats in mature estates may boost resale pricesHowever, the popularity of public housing within mature estates is apparent for BTO flats only. The top five neighbourhoods for resale flats were a mixture of mature and non-mature estates. Some property experts believe the strong demand for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/New-HDB-flats-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":118234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/all-flats-in-hdbs-latest-bto-exercise-oversubscribed\/","url_meta":{"origin":121069,"position":2},"title":"All flats in HDB\u2019s latest BTO exercise oversubscribed","date":"August 14, 2020","format":false,"excerpt":"\r HDB has received a total of 17,947 applications a day after launch.\u00a0 The 7,862 new flats launched by the Housing and Development Board (HDB) on Wednesday (12 August) received robust interest from buyers, with all flats types being oversubscribed. As of 11am on Friday (14 August), the two-room flexi\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/robust-interest-for-larger-bto-flats-in-ang-mo-kio-tampines\/","url_meta":{"origin":121069,"position":3},"title":"Robust interest for larger BTO flats in Ang Mo Kio, Tampines","date":"November 20, 2019","format":false,"excerpt":"\r Competition for Tengah\u2019s bigger flats, however, was sparse. Image: HDB Bigger Build-to-Order (BTO) flats within the mature estates of Tampines and Ang Mo Kio proved to be a hit among homebuyers at a Housing and Development Board (HDB) sales exercise that ended on Monday (18 November), while smaller units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118293,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylangs-four-room-bto-flats-14-times-oversubscribed\/","url_meta":{"origin":121069,"position":4},"title":"Geylang\u2019s four-room BTO flats 14 times oversubscribed","date":"August 19, 2020","format":false,"excerpt":"\r Parc Residences @ Tengah. Photo: HDB The Housing and Development Board\u2019s (HDB) four-room Build-to-Order flats in Geylang proved to be a hit among first-time homebuyers, registering an application rate of 14.1 as at 5pm on Tuesday (18 August). Known as Dakota One, four-room flats in the BTO project in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-3095-flats-in-feb-sales-exercise\/","url_meta":{"origin":121069,"position":5},"title":"HDB launches 3,095 flats in Feb sales exercise","date":"February 11, 2020","format":false,"excerpt":"\r The flats are located across two housing projects in Toa Payoh \u2013 in Kim Keat and one near Caldecott \u2013 as well as in another project in Sembawang. Photo: HDB The Housing and Development Board (HDB) launched 3,095 Build-To-Order (BTO) flats during the first sales exercise of the year.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121069"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=121069"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/121070"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=121069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=121069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=121069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}