Govt to reduce BTO supply by another 25% next year: Khaw

SINGAPORE — The Government will further reduce the supply of Build-to-Order (BTO) flats next year by another 25 per cent to about 16,000 units, Minister for National Development Khaw Boon Wan said today (Oct 20).

This comes after a reduction of 10 per cent to 22,400 flats this year following three years of record launches of 25,000 homes since 2011.

“Now that the housing market is stabilising, we have started to change gear,” Mr Khaw wrote on his blog today.

The number of BTO exercises will also be reduced from six times a year to four times, or one to be conducted every quarter.

“We will maintain the BTO launch size at about 4,000 units. This means a BTO programme of about 16,000 units next year. This should be sufficient to meet demand, without causing a glut in the public housing market,” he said.

The Government is also taking further steps to help families live close to one another. Currently, those who want to do so get additional ballot chances. But from the next BTO exercise next month, a proportion of flats will be set aside for these applicants.

Besides that, first priority will also be extended to parents who own a flat in the mature estate and apply for a flat in the non-mature estate to live near their married child.