Singapore’s National Development Minister Khaw Boon Wan said the government is to slow the supply of public housing:
- Government will launch 25% fewer Build-to-Order (BTO) flats next year
- After three years of more than 25,000 BTO flats each year from 2011 to 2013, the Housing Board slowed the pace this year to 22,400 units
- After studying recent BTO application rates, the HDB has decided to slow things down further. In recent years, there have been six launches a year with an average From next year, there will be four launches of 4,000 units each time, meaning about new 16,000 units
- “This should be sufficient to meet demand, without causing a glut in the public housing market,” said Mr Khaw.
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