Minister Wong: 17,000 new flats for sale to Singaporeans in 2017

Minister for National Development (MND) Lawrence Wong posted on the blog of the Ministry of National Development that Housing & Development Board (HDB) will launch about 17,000 new flats for sale to Singaporeans.

The Minister said that about 2,200 more households were able to purchase a subsidised flat under the higher income ceiling; 4,100 households benefitted from the enhanced Special CPF Housing Grant.

He also said that there were about 6,000 households benefited from the Proximity Housing Grant when they purchased a flat in the resale market close to their parents or married children.

“We also made a significant move with the Fresh Start Housing Scheme, which will help second-timer families with young children living in public rental housing own a home again,” Mr Lawrence said.

“We have just opened applications for the scheme at the start of the month. I look forward to supporting as many families as possible in their home ownership journey,” he added.

On the supply of flats next year, the Minister said that the Government will ensure ensure that a healthy pipeline meets demand, while at the same time, gradually tapering supply.

He stated that the Government will offer a good spread across the mature and non-mature estates, which will give buyers a range of choices, including young couples who wish to live near their parents or the elderly who want to right-size and age in place.

Mr Lawrence also noted that the Government will continue to monitor the market, make adjustments to the building programme, and review the schemes to meet the housing needs of Singaporeans.

“For example, over the past year, I’ve received feedback from young couples to make the waiting time for BTO flats shorter,” he said.

“So I’ve asked HDB to plan and prepare the land for several new sites which can subsequently be put out as BTO units with shorter waiting time. These units will not be ready next year, but I hope we can begin to offer them by 2018,” he added.

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