{"id":38179,"date":"2016-12-15T10:15:43","date_gmt":"2016-12-15T03:15:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bto-flat-supply-to-taper-in-2017-lawrence-wong\/"},"modified":"2016-12-15T10:24:26","modified_gmt":"2016-12-15T03:24:26","slug":"bto-flat-supply-to-taper-in-2017-lawrence-wong","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bto-flat-supply-to-taper-in-2017-lawrence-wong\/","title":{"rendered":"BTO flat supply to taper in 2017: Lawrence Wong"},"content":{"rendered":"


\nFewer BTO flats will be launched next year, but the government will look to shorten waiting times for applicants. (Photo: Erwin Soo, Wikimedia Commons)\u00a0
\nThe government will gradually taper the supply of Build-To-Order (BTO) flats in 2017, with the HDB launching around 17,000 units, down from the 18,000 units launched this year, revealed National Development Minister Lawrence Wong in a blog post on Wednesday (14 December).
\n\u201cOnce again, we will offer a good spread across the mature and non-mature estates. This will give buyers a range of choices, including young couples who wish to live near their parents or the elderly who want to right-size and age in place,\u201d he said.
\n\u201cAt the same time, we will continue to monitor the market, make adjustments to our building programme, and review our schemes to meet the housing needs of Singaporeans.\u201d
\nIn fact, the waiting time for some new sites may become shorter.
\nThis comes after the Minister received feedback from young couples to make the waiting time for BTO flats shorter.
\n\u201cSo I\u2019ve asked (the) HDB to plan and prepare the land for several new sites which can subsequently be put out as BTO units with shorter waiting time. These units will not be ready next year, but I hope we can begin to offer them by 2018,\u201d shared Mr Wong.
\nHe noted that public housing prices were kept stable in 2016, while the BTO application rate for first-timer families applying for three-room or bigger flats in non-mature estates also remained stable and manageable, at 1.5 times in November, and an average of two times for the whole of 2016.
\n\u201cFrom experience, this means that BTO applicants will be able to get a flat within their first or second try, and most definitely by the third try. Hence, I always advise young families to apply for BTO flats in non-mature estates to increase their chances of success.\u201d
\nMoreover, this year\u2019s higher income ceiling has enabled around 2,200 more households to buy subsidised flats, while the enhanced Special CPF Housing Grant and Proximity Housing Grant benefitted 4,100 and 6,000 households, respectively.
\nAt the start of the month, the HDB also opened applications for the Fresh Start Housing Scheme, which aims to help second-timer families with young children living in public rental housing own a home again.
\n\u201cAll of these demonstrate our commitment to keep home ownership within reach of all Singaporean families,\u201d said Mr Wong.
\n\u201cBut our work is not complete. We will press on with our mission to house a nation, and to help Singaporeans own a home that meets their budget and needs.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…BTO flat supply to taper in 2017: Lawrence Wong<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fewer BTO flats will be launched next year, but the government will look to shorten...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-38179","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9VN","jetpack-related-posts":[{"id":113092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-17000-bto-flats-to-launch-next-year-lawrence-wong\/","url_meta":{"origin":38179,"position":0},"title":"Up to 17,000 BTO flats to launch next year: Lawrence Wong","date":"December 16, 2019","format":false,"excerpt":"\r This is to meet the additional demand for houses after key policy changes.\u00a0 National Development Minister Lawrence Wong revealed that HDB will be launching 16,000 to 17,000 Build-To-Order (BTO) flats next year to meet additional demand after the roll-out of key policy changes this year, reported The Straits Times.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35466,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/4-room-flats-in-kallang-attract-most-attention\/","url_meta":{"origin":38179,"position":1},"title":"4-room flats in Kallang attract most attention","date":"November 23, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Kallang Residences, a new BTO project located near Kallang MRT station. Source: HDB The 4-room Build-To-Order (BTO) flats in Kallang have emerged as the main attraction in the latest exercise by the Housing and Development Board (HDB), with 271 applications submitted for the 158 units during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102140,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-slightly-reduces-bto-supply-for-2019\/","url_meta":{"origin":38179,"position":2},"title":"HDB slightly reduces BTO supply for 2019","date":"December 10, 2018","format":false,"excerpt":"\r The BTO flat supply next year includes some 2,000 units in the new Tengah town. Source: HDB The Housing and Development Board (HDB) announced last Friday (7 Dec) that it intends to launch around 15,000 Build-To-Order (BTO) flats for the whole of 2019, down from the 15,800 units it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-market-to-benefit-from-lower-bto-supply\/","url_meta":{"origin":38179,"position":3},"title":"HDB resale market to benefit from lower BTO supply","date":"December 19, 2016","format":false,"excerpt":"\r Some home buyers may turn to the resale market next year due to the lower supply of new flats. Analysts expect the HDB resale market to benefit from the Housing Board\u2019s plan to taper the Build-To-Order (BTO) flat supply from 17,891 units in 2016 to around 17,000 units next\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35462,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-10118-flats-in-november-sales-exercise\/","url_meta":{"origin":38179,"position":4},"title":"HDB launches 10,118 flats in November sales exercise","date":"November 23, 2016","format":false,"excerpt":"\r New HDB flats accounted for more than half of the units launched for sale.\u00a0 The Housing and Development Board (HDB) launched 10,118 flats for sale on Tuesday (22 November) in its largest sales exercise in 2016. Build-To-Order (BTO) flats accounted for more than half of the units launched for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82086,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shorter-waiting-time-for-bto-flats\/","url_meta":{"origin":38179,"position":5},"title":"Shorter waiting time for BTO flats","date":"March 7, 2018","format":false,"excerpt":"\r Young couples can look forward to getting their keys earlier for build-to-order (BTO) flats, said Minister for National Development Lawrence Wong on Tuesday (6 March), reported the New Paper. This is because construction work for some BTO flats will be started in advance before applications are opened to reduce\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\/38179"}],"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=38179"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38179\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=38179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=38179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=38179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}