Channelnewsasia.com | 08 Apr 2013 10:28 PM
National Development Minister Khaw Boon Wan said prices of Build-To-Order HDB flats have been stabilised by de-linking them from the resale market.
SINGAPORE: National Development Minister Khaw Boon Wan said prices of Build-To-Order (BTO) Housing Development Board flats have been stabilised by de-linking them from the resale market. Government subsidies for BTO flats were increased so that they will not be heavily affected by re-sale flat price increases.
For example, in Punggol, three-room BTO flat prices were between S$150,000 and S$210,000 in 2010. They remained the same in 2011 and 2012.
In Sengkang, four-room BTO flat prices were between S$200,000 and S$280,000 dollars in 2010. They increased to between S$230,000 and S$340,000 dollars in 2011 and remained at that level in 2012.
Mr Khaw said: "In Tampines, a mature estate, we did not have a BTO launch in 2010. But because this is the only mature estate where there is similar, comparative data, so I have to quote Tampines as an example. Flat prices for projects launched in 2011 and 2012 were similar.
"They were between S$180,000 and S$240,000 for a three-room flat, between S$290,000 and S$360,000 for a four-room flat, and between S$370,000 and S$440,000 for a five-room flat.
"The BTO prices are not identical, because every BTO project is unique, with differences in location and flat attributes. But by and large, we have kept the BTO prices steady."
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