50,000 flats to be launched over 2011 and 2012 by the end of the year

“By the end of this year, HDB would have launched 50,000flats over 2011 and 2012,” said National Development Minister Khaw Boon Wan in his blog onMonday. Minister Khaw added 
that the increasedsupply has benefited flat buyers, and has had an impact on application rates,based on the application rates for the July%E2%80%99s BTO launch.

According to Minister Khaw the move to increase supply wasaimed at stabilising the housing market, and helping newlywed first-timers gettheir first HDB home.

This has borne fruit as first-timer application ratesremain below 2.0, which means that almost all first-timers will get the chanceto select a flat when they apply for one, especially in non-mature estates.

Second-timer application rates, which used to exceed 25,have also decreased significantly, which means that there is more certainty forsecond-timers to get a new flat.

Tampines GreenWood new BTO flats. Image courtesy of HDB.

Minister Khaw mentioned that HDB will keep up thecurrent momentum with a launch of another 8,000 new flats by the end of thisyear, and an additional 3,000 balance flats in September. In addition, at leastanother 20,000 new flats are expected to be built next year.