Many buyers who are looking for a non-landed or even landed property in Singapore opt to take advantage of the country’s Build-to-Order (BTO) exercise. But unfortunately, most of the new applicants have to wait. In a report by Channel NewsAsia recently, it was said that the next exercise for the BTO flats located in Bidadari will experience delay. Rather than starting on August, the said exercise will commence on September this year instead.
According to the same report, one of the main reasons for the delay of the supposedly August BTO exercise was from the Housing and Development Board’s end. As of the moment, the consolidation for 2-bedrooms flats and the studio unit schemes are still in process. At the same time, there are still ongoing reviews whether the requirements for the applicant’s income should be increased or not.
The Minister for National Development, Khaw Boon Wan, confirmed these plans during his radio interview last June. Minister Wan was also hoping that the necessary changes will be all settled before September.
He also mentioned that the National Development assures the public, particularly the interested buyers, that there will still be more BTO launches this year. As a matter of fact, they are expecting four more exercises before 2015 ends. This was the statement that the minister made despite the issue regarding the delay as well as the recent announcement from the Housing and Development Board that that flat supply will be down to 15,000 units instead of 16,900 units.
Prior to this, there were already two BTO exercises that were carried out. The first offered 8,039 units while the second offered 5,387 units. For the third BTO exercise happening on September, there will be at least 2,150 flats located within the Bidadari and BTO applicants can choose among studio apartments up to 5-bedroom units.
Brand-new private developments launching soon recently includes Botanique at Bartley, High Park Residences, Sol Acres, Hilbre 28, North Park Residences and Adana at Thomson. Please stay tune to find out the launched price and how many units were actually sold. If you are keen in landed property, do visit Charlton 18 and Terra Villas.