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SG Govt to build more two-room flats, studio apartments

Property Here - Tuesday, December 17, 2013

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The Housing and Development Board (HDB) will build more two-room flats and studio apartments (SA) snd fewer three-, four- and five-room flats, National Development Minister Khaw Boon Wan wrote in his blog on Monday.

The blog post illustrated the falling figures of demand for Build-To-Order (BTO) flats.

Mr Khaw explained that during the first BTO exercise in July, application rates for singles were “especially high” with 58 applications per available flats.  However, this number fell to 27 in the November BTO launch.

Meanwhile, the blog post also revealed the decline in first-timer and second-timer applications this year. It said: “first-timer application rate has come down steadily from 2.4 in January to 1.3 in November. Second-timer application rate has also fallen significantly, from 14.9 in January to 2.7 in November.” It also indicated that application for SAs stabilized at a rate of 2.1 this year.

“These data will help shape our housing taper for 2014,” Mr Khaw said, adding that exact details will be “finalised and announced soon.”

In 2013, the housing board launched 25,100 Build-To-Order (BTO) flats, as part of a three-year ramped up construction programme, to tilt the supply-demand balance in favour of buyers.