Additionally, “major steps” have been taken to ensure affordable public housing in “attractive areas” first, with the introduction of the new standard, plus, or primary classification next year.
Apartments with the names Prime and Plus are those in better locations. To reduce the so-called “lottery result” of owning apartments in primary and key areas, they are priced with more subsidies than regular flats, making them more affordable.
For instance, compared to the five-year lease terms for Standard flats, straight owners are required to reside in their product for at least ten years before selling on the open market. Users will also be content to a payment clawback when they sell.
According to him,” This opens up new, choicer areas for cheap public cover,” citing how the first BTO job in the future Mount Pleasant cover property will be offered as either Plus or Prime condos.
Regarding ensuring convenience, Mr. Lee assured that concern will still be given to first-timer families through different techniques.
The state will want to consider the needs of first-time families and singles.
According to Mr. Lee, it may increase the planning limit for three-room and larger BTO condos by five percentage items from the next sales training in July for the latter class.
“STABILISING” THE Sales Industry
Regarding selling apartments, Mr. Lee acknowledged the concern over prices in this sector that Singaporeans have.
Using established flash estimates released earlier this year, HDB sale prices increased 9.6 % in 2024, nearly twice the increase of 4.9 percent in 2023.
According to Mr. Lee, one of the causes of the epidemic is a supply-demand imbalance. In addition to that, less apartments have recently entered the resale market and met the minimum occupation period ( MOP).
” In truth, in 2020, HDB may include completed 20, 000 flats. However, less than half of that was accomplished because of the pandemic’s outages, he told the House.
But, five years later in 2025, there are significantly fewer apartments that have completed their MOP and are even fewer ones that are entering the selling market.
According to Mr. Lee, this tightening cover offer” should start to return next year” as new flats ‘ MOPs are projected to increase by” significant amounts” to 13,500 in 2026 from 8, 000 this year.
This number will” rapidly boost” to 19, 500 in 2028, he added.
The HDB selling business” did stabilise” in addition to cooling measures that” continue to work their way through the industry,” according to Mr. Lee.