HDB to offer up to 23,000 Build-To-Order flats in 2023

Up to 23,000 Build-To-Order (BTO) flats will be offered in 2023, announced the Housing Development Board (HDB) in a press release on Tuesday (Jan 3).

Of this number, 4,400 BTO flats in towns/estates such as Jurong West, Kallang Whampoa, Queenstown, and Tengah will launch in February.

In May, HDB will offer between 3,800 to 4,800 flats in towns/estates such as Bedok, Kallang Whampoa, Queenstown, Serangoon and Tengah.

HDB has stated that numbers are subject to review as more project details are firmed up closer to the launch dates. 

The numbers are in line with HDB’s plans to launch up to 100,000 new flats from 2021 to 2025, as announced by Minister for National Development Desmond Lee. 

A total of 23,184 Build-To-Order flats were launched in 2022.

Additionally, the median waiting time for new flat launches has come down from a range of four to five years in 2021 to a band of four to four-and-a-half-years.

Meanwhile in the resale market, HDB’s flash estimate of the Fourth Quarter 2022 Resale Price Index is 171.7, an increase of 2.1 per cent over that in the third quarter of 2022.

According to HDB, this is a slower increase than the 2.6 per cent increase in the third quarter of 2022, and is the slowest increase in the past year.

Based on the flash estimate, HDB has stated that resale flat prices have risen by 10.3 per cent for the whole year of 2022, slower than the 12.7 per cent increase in 2021.

The number of resales in the fourth quarter 2022 is 6,474, which is 15.8 per cent lower than the same period last year, with 7,692 cases.

For the full year up to Dec 29, 2022, the total units sold is 27,773, which is 9.7 per cent lower than the corresponding period last year with 30,769 cases.