HDB to launch up to 23,000 BTO flats a year over next two years

[Phases]

https://www.straitstimes.com/singap...to-be-launched-a-year-over-the-next-two-years

 

[IIRedsunsII]

thought worker shortage and project delays?

 

[CCCustom]

thought worker shortage and project delays?

Launch only mah, they never said anything about completion any time soon

 

[Kunkka]

https://www.mom.gov.sg/documents-and-publications/foreign-workforce-numbers

 

[tongbuaydiao]

Launch only mah, they never said anything about completion any time soon

Completion 20 years down the road, in time for your grandkids

 

[Vincentlow82]

Talk no need money.

Later then announce delay.

 

[TopGun]

Construction resources can't be ramped up quickly w/o incurring additional cost. This probably meant that the flats launched in 22/23 are probably going to be ready in 27/28.

 

[tankgunner]

resales market also very hot.

 

[lalalalalala]

complete when? in 30 years time ah?
bto for your grandkids to stay isit

 

[alibababags]

Construction resources can't be ramped up quickly w/o incurring additional cost. This probably meant that the flats launched in 22/23 are probably going to be ready in 27/28.

Rochor one already slated to be 2028, without counting any delays. next time after Olvl must straight away apply for BTO liao.

 

[yesman2978]

23000 flats per year seems like a lot right? But it is still not enough.

Need to remember that quite a sizeable portion of flats built are 2-room units for singles.

Let's ignore those people for simplicity sake.

Using 1990 as a point of reference (because it is a round number, and people born in that year are in the age group looking at their first home purchase)

In 1990, total birth was around 60k. Haven't factor in people who migrated here later.

Assuming that all 60k are married, we will need 30,000 flats per year to house these married couples (2 pax per flat). And should they remain single (1 pax per flat), we would need much more than 30,000 flats per year to house them all.

By building only 23k flats per year, and assuming that they are all sold to married couples, it would only meet the housing needs of 46k people. It means that at least 14k people in each cohort are expected to buy their houses elsewhere or to continue living with their parents.

This 14k annual shortfall in housing accumulates, and is very significant when you multiply across all the cohorts of people of homebuying age.

There is a real shortfall of flats constructed.

Pushing people to the resale market is not a solution. It's not like many people have multiple properties to spare. The resale flat seller also has to find replacement housing.

https://data.gov.sg/dataset/newborn...ource_id=6ed0a70b-5559-480e-a76f-cbe55e59a7a7

 

[orhneeorh]

the order first then build model really creates a perpetually shortfall of housing supply in the market.. not to mention the delay in family planning for yang couples

this marlboro tan jin cunning

 

[invigo79]

Launch only
mah
, they never said anything about completion any time soon

Yeah. Now new BTO take 5 year or more to build.


Read HWZ Forum Rules!

 

[darkelf]

Good. Cool the demand for resale.
Market to fall further!

 

[ftpofmpo]

the order first then build model really creates a perpetually shortfall of housing supply in the market.. not to mention the delay in family planning for yang couples

this marlboro tan jin cunning

who did u vote for?

 

[hatredhollow]

no use one , sg too populated.

new bto need wait 5-6yrs, by the time bto finish
another generation come in demand for housing

need stop issue citizenship n more boomers to die from covid

 

[Forever84]

23000 flats per year seems like a lot right? But it is still not enough.

Need to remember that quite a sizeable portion of flats built are 2-room units for singles.

Let's ignore those people for simplicity sake.

Using 1990 as a point of reference (because it is a round number, and people born in that year are in the age group looking at their first home purchase)

In 1990, total birth was around 60k. Haven't factor in people who migrated here later.

Assuming that all 60k are married, we will need 30,000 flats per year to house these married couples (2 pax per flat). And should they remain single (1 pax per flat), we would need much more than 30,000 flats per year to house them all.

By building only 23k flats per year, and assuming that they are all sold to married couples, it would only meet the housing needs of 46k people. It means that at least 14k people in each cohort are expected to buy their houses elsewhere or to continue living with their parents.

This 14k annual shortfall in housing accumulates, and is very significant when you multiply across all the cohorts of people of homebuying age.

There is a real shortfall of flats constructed.

Pushing people to the resale market is not a solution. It's not like many people have multiple properties to spare. The resale flat seller also has to find replacement housing.

https://data.gov.sg/dataset/newborn...ource_id=6ed0a70b-5559-480e-a76f-cbe55e59a7a7

Are there really people who can’t find a house? All the people I know have their own home, nobody seems to have an issue buying a house.

Old people also will die and their flats get cycled into market also

 

[Yueming]

23,000

avg $400,000

$9,200,000,000 (9 billion) ?

10% downpayment

920mil in the bag.

if 5-6year then release flat...............

huat ah.

 

[yesman2978]

Are there really people who can’t find a house? All the people I know have their own home, nobody seems to have an issue buying a house.

Old people also will die and their flats get cycled into market also

Got. Wait and wait and keep delaying their marriage plans lor

It just means the waiting time before you successfully get a BTO becomes longer and longer

And some people still living with their parents

If they can move out, got the chance to move out, all would have moved out long ago liao

Want concrete proof that flats are not enough, look at the first timer application rate is enough

4-15 couples fighting for 1 flat

 

[TopGun]

Assuming a 5 years wait, how many males who served NS can apply for a BTO at 25 and move in at 30? lmao.