Higher BTO demand expected after income ceiling raised, but supply can keep pace: Chee Hong Tat

Singapore's Minister for National Development, Chee Hong Tat, stated that the country will continue to build more and faster to meet the increased demand for Build-to-Order (BTO) flats, as more home buyers are expected to enter the market following the raising of public housing income ceilings. The higher income thresholds will make more Singaporeans eligible for BTO flats, and the government aims to ensure adequate supply to meet this higher demand by continuing to build more and faster.

Resale prices are also expected to remain stable, as more households become eligible for BTO flats, shifting some demand away from the resale market, and more resale flats becoming available as they reach the end of their minimum occupation period. The government is also taking measures to support young families, such as giving first-time parents an additional ballot chance for each child aged 18 and below, and considering ways to provide more support for larger families.