Mr Chua Kheng Wee Louis asked the Minister for National Development (a) whether additional sites can be activated to increase the number of HDB BTO flat launches beyond the current plan to launch up to 100,000 flats in total from 2021 to 2025 should demand exceed current projections; and (b) if not, what are the constraints for not being able to do so.
Mr Desmond Lee: Over the past two years, there has been strong, broad-based demand for housing. We see more households forming as the echo-boomer generation – those who are in their 30s today – are getting married, especially with the easing of COVID-19 measures. We also see societal trends shifting to smaller households, as young couples, singles, as well as adult children choose to buy their own homes instead of living with their parents. These aspirations for more personal space may have been accentuated by the pandemic.
HDB has taken decisive steps to meet the current strong housing demand by increasing the number of flats offered under its Build-To-Order (BTO) programme. HDB is on track to launch 23,000 flats this year, a 35% increase from the BTO supply last year, and also plans to launch 23,000 flats in 2023. We are prepared to launch up to 100,000 flats in total from 2021 to 2025, if needed. MND and HDB will continue to monitor demand closely and make the necessary adjustments to meet the housing needs of Singaporeans, especially those seeking to buy their first home.
Ministry of National Development
20 October 2022