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SINGAPORE – Around 16,000 to 17,000 Build-To-Order (BTO) flats will be launched in 2020 to meet the additional demand following key policy changes this year, National Development Minister Lawrence Wong announced in a blog post on Monday (Dec 16) morning.
The Ministry of National Development had raised the income ceiling in September for eligible first-time home buyers and introduced a new Enhanced Central Provident Fund (CPF) Housing Grant.
More young couples benefited from the increased housing subsidies for their first Housing Board flat, enjoying up to $80,000 in grants when they buy a new flat and up to $160,000 in grants when they buy a resale flat in the open market.
The projected number of BTO for next year is more than this year’s supply of 14,000 flats.
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