With the development of multiple properties over the years, new home owners are now able to obtain a Build-To-Order (BTO) unit with relative ease. The Ministry of National Development (MND) now aims to regulate launch of BTO units to a more sustainable level over the medium term in order to maintain a stable property market, National Development Minister Lawrence Wong said, according to Today.
Although there remains a robust demand for BTO units, Mr Wong mentioned that the Government has to be mindful of a housing glut and its detrimental impacts that affects all Singaporeans. While the supply of BTO units has been increased to 18,000 units this year, the plan is then to reduce supply in the future.
It has also been reiterated that property cooling measures will remain in place as they have been effective so far in stabilizing the market.
Meanwhile, there remains a supply of two-room units that cater to singles. This segment is currently witnessing a strong demand and it would take two to three more years before the government could fulfil the current demand.
As for home owners who prefer to reside in mature estates, the resale market is also a potential option particularly as resale home prices are now much more affordable.
Refer to Today for more information.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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