Housing & Development Board Brews Hope for Young Couples
Feeling the sting of BTO rejection letters is a real buzzkill for first‑time buyers. Even if you squeak past the gate, waiting for the keys can feel like a lifetime vacation leave‑out‑in‑the‑air.
Board’s Big Stare‑Down Announcement
On Friday (Oct 28), Tan Meng Dui, HDB’s chief executive, stepped up to the mic to reassure hopeful home‑owners.“Public housing is still budget‑friendly and within reach for newcomers,” he declared, speaking from a media briefing where he also dropped the Annual Report for the latest financial year.
Numbers That Actually Matter
- 23,000 new flats will hit the market this year—a 35% jump from 2021.
- 100,000 flats in total from 2021 to 2025 are on standby if the demand keeps climbing.
- 12,800 BTO units in non‑mature estates—almost a 40% increase from last year.
Why It’s a Good Thing
“The more options we bring to the table, the easier it’s for buyers to pick their dream spot without breaking the bank,” Tan explained. “And guess what? We’re still giving the first‑timer badge the top priority—because first‑time buyers are the true heroes of the housing scene.”
Bottom Line
Young couples, keep your fire hoses ready. The HDB’s new push means more homes, quicker access, and the chance to snag a place you’ll actually love. It’s no longer a nail‑biting wait; it’s a sprint toward a door that actually opens. Happy hunting!
Shorter waiting times for BTO flats
HDB’s BTO Boon: Waiting Times Shrinking, Delays Diminishing
With the lift‑off of Covid‑19 restrictions and a return to pre‑pandemic normalcy, Housing & Development Board (HDB) has been tick‑tocking progress on its Build‑To‑Order (BTO) flats. Chief Inspector Tan is pretty proud, noting the strides the agency has made.
The Waiting Game Gets Shorter
- Median waiting period has dipped to roughly 4–4½ years (down from the 4‑5 year peak during the pandemic).
- Fewer BTO projects are getting stuck in the queue: the delay rate plummeted from 80% a year ago to 50% now.
Delays? They’re Vanishing (Almost)
- Projects delayed by six months or more have dropped to 58 this year, from 74 in 2021.
- Causes include Covid‑positive migrant workers, labor shortages from border closures, and logistics hiccups.
“We’re putting the pedal to the metal to slash those delays without compromising safety and quality,” Tan said, with a smile that said, “We’ll keep pushing!”
What’s Next?
HDB’s got its eyes on the goal: keeping the construction comma‑menship efficient while prioritising safety. If the trends hold, you’ll soon be handing over the keys in record time.
HDB incurs record net deficit
HDB’s Wildly Record Deficit: A Pandemic‑Tried Story
According to HDB boss Tan, the COVID‑19 wave hit the resale and construction market like a rogue wind, forcing the public housing agency to swallow a huge price tag. On a financial calendar that wrapped up March 31, HDB recorded its biggest ever net loss ever – a cushy $4.367 billion. That’s a staggering 86 % jump from the $2.346 billion loss on the previous year, topping the scoreboard set in 1960 when Singapore’s first public flats sprouted.
What’s Fueling the Famine?
- More subsidies. Tan says the grant flood for flat buyers is stronger than usual: $849 million of CPF housing grants poured into resale flat and EC buyers the year‑ago now outpaces the $791 million recipe from last year.
- Upgrading‑over‑drive. The bank has also been spending more on “upgrades” – home improvement, neighbourhood sweeps and lift overhauls. Deficits in this area spiked from $242 million to $392 million, a 60 %+ climb.
HDB’s angle? “We’re constantly turning old estates into fab, modern metros,” they brag, reminding us that while the numbers bite hard, every corner of a town is meant to feel fresh and stylish for the occupants.
Quick Takeaway
Because people want better living spots and the world suddenly slowed down, HDB took a major toll – but that’s the price of keeping Singapore’s “flat‑life” competitive and comfy.
