Singapore — Prices of HDB’s new Build-to-Order (BTO) flats have remained stable even though resale prices have risen, said National Development Minister Khaw Boon Wan today.

He illustrated this with three examples — Punggol, Sengkang and Tampines — in response to a question from Hougang Member of Parliament Png Eng Huat, who asked about the average prices for new flats in mature and new estates a year before and after HDB de-linked BTO flat prices from resale market prices.

In Tampines, prices of flats that were launched in 2011 and 2012 remained at between S$180,000 and S$240,000 for a three-room flat; between S$290,000 and S$360,000 for a four-room flat; and between S$370,000 and S$440,000 for a five-room flat.

As for flats in Punggol, prices for three-room flats and five-room flats have remained stable between 2010 and 2012. Three-room flats ranged between S$150,000 and S$210,000, while five-room flats were between S$330,000 and S$410,000. Prices for four-room flats in Punggol, however, witnessed a slight increase from between S$240,000 and S$330,000 in 2010, to between S$260,000 and S$340,000 in 2011. The prices remained stable in the subsequent year.

BTO prices are not identical as every project is unique, with differences in location and flat attributes, said Mr Khaw. “But by and large, we have kept the BTO prices steady, even though resale prices have risen. And we will continue to do so, until the market stabilises,” he added.