Residential

Fewer BTO flats will be launched in 2015

According to National Development Minister Khaw Boon Wan, 25 per cent fewer build-to-order (BTO) flats will be released in 2015. This year, 22,400 BTO units were released. This is 10 per cent fewer than in 2013. Due to high demand, a total of 77,000 BTO flats were launched from 2011 to 2013. However, Minister Khaw said that the government will be reducing supply of BTO flats as demand for them has waned. According to Minister Khaw, BTO exercises will be held every quarter, instead of six times per year. Nonetheless, the BTO launch sizes will remain unchanged at 4,000 units. Minister Khaw said that this should be sufficient to meet demand in the upcoming year.

(Source: Business Times)

URA: Q3 private residential price index down 0.7%

According to URA, prices of private residential properties have fallen by 0.7 per ...