31 Dec '13, 5am

#GlobalREBubble #Singapore 'More 2-Rooms, But Fewer Larger Flats In 2014' via @SGPropertyGuru

In order to meet the high demand from singles, the housing board on Monday announced that it will ramp up the supply of two-room Build-to-Order (BTO) flats in non-mature estates to 5,000 units by 2014 from just 2,600 this year. Moreover, unsold two-room flats from previous BTO exercises that were set aside for families will be offered to singles due to unmet demand. “For example, in the July 2013 BTO exercise, 34 percent and 51 percent of the two-room flats offered in Sengkang and Yishun respectively were booked by singles. These proportions are higher than the quota of 30 percent,” said HDB. It also plans to cut the supply of new three-room and larger flats by 18 percent from 22,600 units in 2013 to around 18,600 by 2014. Despite this, the planned supply of larger flats surpasses the estimated 15,000 new Singaporean family formations next year. “This (move) is timely as t...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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