Budget 2025: Govt to boost public housing supply with 50,000 flats in next three years
In his Budget 2025 speech, Prime Minister Lawrence Wong announced plans to ramp up public housing supply, with the government set to launch 50,000 new flats over the next three years, including locations like Woodlands, Bayshore, and Mount Pleasant.
SINGAPORE: The government will continue to prioritise public housing as part of its efforts to address housing concerns in Singapore.
In his Budget speech on Tuesday (18 February), Prime Minister and Finance Minister Lawrence Wong outlined key measures, including a significant ramp-up of Build-to-Order (BTO) supply over the coming years.
He highlighted that the government has already increased BTO supply decisively, with application rates stabilising and falling below pre-Covid-19 levels.
PM Wong emphasised that the government will continue to roll out “the robust supply pipeline” to meet housing demand.
Over the next three years, the Ministry of National Development (MND) plans to launch more than 50,000 new flats across various locations, including Woodlands, Bayshore, and Mount Pleasant.
This initiative builds on the Housing Development Board’s (HDB) announcement in January of approximately 19,600 BTO flats to be offered across three sales exercises in 2025.
In response to concerns over rising resale flat prices, Wong reassured Singaporeans that the government's cooling and supply measures would eventually help stabilise the resale market.
He also noted that more options would be provided to home seekers eager to secure flats sooner.
This year, around 3,800 BTO flats will have a waiting time of less than three years, making up about 20 per cent of the total BTO supply for 2025.
Additionally, HDB has already launched the largest-ever Sale of Balance Flats (SBF) exercise on 10 February, with around 5,500 units available islandwide.
Wong confirmed that HDB plans to hold another SBF exercise later in 2025, further increasing available options for homebuyers.
“We will continue to increase the supply of such flats in the coming years,” PM Wong reiterated, reinforcing the government’s commitment to meeting housing needs.
