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HDB to offer 13,000 BTO flats in H2 2023, 31% more than H1

Locations of these HDB BTO projects include Tengah, Queenstown, Bedok and Bishan.

Timothy Kang
·Finance Producer
·2-min read
A roof top garden on a multi-storey car park of new HDB flats at Punggol New Town, illustrating a story on BTO supply.
HDB will be offering 13,000 BTO flats in the second half of 2023. (PHOTO: Getty) (catchlights_sg via Getty Images)

SINGAPORE — A total of 13,000 Build-To-Order (BTO) flats will be offered for sale in the second half of 2023, said the Housing and Development Board (HDB) in a statement on Monday (3 July).

The figure represents about 31 per cent more than the 9,923 units launched in the first half of 2023, bringing the total BTO supply in 2023 to 23,000 flats. However, HDB noted that the numbers are subject to review as more project details will be firmed up closer to the launch dates.

For the upcoming BTO launch in August 2023, HDB said it will offer about 6,700 BTO flats in towns and estates such as Choa Chu Kang, Kallang Whampoa, Queenstown and Tengah.

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As for the November 2023 BTO launch, HDB said it will offer about 6,300 flats in towns and estates such as Bedok, Bishan, Bukit Merah, Bukit Panjang, Jurong West, Queenstown and Woodlands.

According to HDB, the supply of flats has been ramped up by 35 per cent on a yearly basis to meet increasing demand. HDB supplied a total of 17,000 flats in 2021 and 23,200 flats in 2022. The housing authority maintains that it remains on track to launch a total of 100,000 flats from 2021 to 2025.

HDB resale prices moderating

HDB's flash estimate of the second quarter of 2023 Resale Price Index (RPI) is 176.0, an increase of 1.4 per cent over that in the first quarter of 2023. This is a higher increase than the 1.0 per cent growth in the first quarter of 2023 but still lower than the average quarterly growth of 2.5 per cent in 2022.

Additionally, HDB noted that the resale volume for the second quarter of 2023 up to 29 June is 6,409. This is 4.6 per cent lower than the 6,720 cases during the same period last year. It is also the lowest in the last three years since the third quarter of 2020.

With the implementation of cooling measures since December 2021, HDB said that it is seeing "some moderation" in the rate of increase in resale prices.

Price index of HDB resale flats.
HDB resale prices are seeing "some moderation" in the rate of increase since the implementation of cooling measures in December 2021. (SCREENSHOT: HDB) (Housing and Development Board)

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