Supply of BTO flats will rise 20% to 18,000 units in 2016
SINGAPORE — The supply of Build-To-Order (BTO) flats will increase to 18,000 units in 2016, said National Development Minister Lawrence Wong - an increase of 3,000 units from this year.
Minister for National Development Lawrence Wong visited families who have moved into the Tampines Greenlace BTO development today (Dec 30). Photo: Channel NewsAsia
SINGAPORE — The supply of Build-To-Order (BTO) flats will increase to 18,000 units in 2016, said National Development Minister Lawrence Wong — an increase of 3,000 units from this year.
Noting the recent BTO launch in November which drew a “healthy response”, Mr Wong said the increased supply of units is in response to greater demand.
The increased demand, he added, is due to recent changes to housing policy — for example, the raising of the income ceilings which allows more people to qualify for BTO flats, as well as enhanced grants.
But Mr Wong — speaking today (Dec 30) to reporters on a visit to Tampines Greenlace, a recently-completed BTO project — added that even as the supply is ramped up, the authorities will ensure a sustainable supply over the longer term. Taking stock of the year, Mr Wong also noted that 26,000 flats were completed this year, a “high number” close to the record last year, when 28,000 flats were completed. CHANNEL NEWSASIA
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