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BTO launches in 2020 to increase

Updated: Nov 18, 2020

To meet the ever increasing demands of our population, HDB has announced that there will be an increase in BTO launches in the year 2020.

As National Development Minister Lawerence Wong announced in a post on 16th December 2019, the increase in the number of BTO flats is set to meet the increase in demand following recent policy changes. Location of new flats is set to be built at Toa Payoh, Choa Chu Kang, Sembawang, Tengah, Tampines and Pasir Ris.


In September this year, Ministry of National Development (MND) has increased the income ceiling for households to S$14,000 from S$12,000, allowing more applicants to be eligible for BTO flats. (S$16,000 for Executive Condominiums (ECs)).


Aside from that, MND introduced the Enhanced Housing Grant (EHG) where eligible buyers can get up to S$80,000 in grant when purchasing their new BTO flat.


Below shows the projected number of flats to be built in year 2020, a jump from this year's 14,600 BTO flats.


Source: www.straitstimes.com


This increase in supply would increase the chances for first-timer applicants to pick the location and/or unit of their choice.


With higher income ceiling and more accessible grants implemented, the demand for BTO flats will hence see an increase in the coming year, as more households will now qualify for it.


#weeproperty #btolaunch #hdb


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