25% lesser Build-To-Order flats available next year

Minister for National Development Khaw Boon Wan wants to change gears — by reducing Build-To-Order (BTO) flats by 25 percent next year.  The Minister came to the decision in light of the stabilising housing market due to the launch of 77,000 new flats over the last three years. Starting next year, BTO exercises will be a quarterly event; a significant reduction from the usual six per year.  “This should be sufficient to meet demand, without causing a glut in the public housing market,” he writes on his Housing Matters blog. More incentives will also be introduced to encourage families to live closer to each other by setting aside a certain proportion of flats for those intending to do so. First priority will also be given to those applying to live under one house, and also to parents who want to apply for flats in non-mature estates near their married children.  Photo: Wikimedia Commons   Read Also: Video: Woman damages religious altar at HDB void deck, goes into crazy spiel High-tech parking systems in HDB neighbourhoods next year