Exciting News for Homebuyers in Singapore!

Get ready, Singapore! This July, the Housing Board is set to unleash over 4,600 balance flats onto the market, including a remarkable 1,733 units that are fully completed and ready for eager homebuyers to move in immediately.

A Surprising Surge in Availability!

In a statement on July 16, Minister for National Development Chee Hong Tat revealed that this launch exceeds the initial commitment of 3,000 Sale of Balance Flats (SBF) units. While the exact launch date remains under wraps, the upcoming SBF exercise will increase the total supply of such flats to over 10,000 units for 2025.

Riding the Wave of Demand!

Earlier this year, 5,590 SBF units were offered, and they were snatched up quickly, attracting a staggering 22,000 applicants—a clear sign of the intense demand in the housing market. Though SBF exercises were traditionally held biannually, they will now shift to once a year starting in 2024.

Build-To-Order (BTO) Flats Join the Mix!

Additionally, approximately 5,500 BTO flats will launch across various neighborhoods including Bukit Merah, Bukit Panjang, and several others. Notably, 1,400 of these will boast a shorter waiting period of less than three years, available in projects such as Clementi Emerald and Bangkit Breeze in Bukit Panjang.

Sembawang and Simei Get Their First Flats in Years!

In a first for Sembawang North, the Sembawang Beacon project will offer two-room flexi and larger flats, with a wait time of just three years. Conveniently located near amenities such as parks and MRT stations, this project is set to appeal to many.

For those eyeing Simei, get ready for the first new flats in over a decade! With around 380 units including two-room flexi and larger apartments in the mix, this is a highly anticipated addition to the Tampines region.

A Vision for the Future!

Also debuting is a 1,130-unit development in the promising Woodlands North Coast precinct, which aims to transform into a vibrant mixed-use waterfront area, ultimately housing 4,000 flats when complete.

Meeting Diverse Housing Needs!

Minister Chee reaffirmed the government’s commitment to cater to the various housing needs and financial situations of Singaporeans, stating, "We will continue to ensure a strong supply of HDB flats to support the home ownership aspirations of Singaporeans." A golden opportunity is on the horizon for those looking to secure their dream home!