estimate
Minister for National Development Desmond Lee announced on Jan 16 that HDB will be launching more than 25,000 new flats in 2025. This was revealed in a joint press release by HDB and the Ministry of National Development (MND).
This launch will include approximately 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. The units will consist of a mix of Standard, Plus, and Prime BTO flats under the new classification framework.
The upcoming February BTO launch will offer around 5,000 flats in popular locations such as Kallang/Whampoa, Queenstown, Woodlands, and Yishun. These flats are expected to cater to the diverse needs of homebuyers.
In addition, HDB will conduct its largest-ever Sale of Balance Flats (SBF) exercise next month, offering over 5,500 flats across various estates. About 40% of these flats are already completed, while the rest are at different stages of construction and are expected to be ready between 2025 and 2028.
In total, more than 10,000 new flats will be available under the February BTO and SBF exercises.
Over the last four years, from 2021 to 2024, HDB has launched approximately 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to surpass its commitment of 100,000 units over five years.
This increase in BTO supply has resulted in a decline in application rates. In 2024, the average application rate among first-time homebuyers for BTO across all flat types was 2.1, compared to 3.7 in 2019 before the pandemic. For three-room and larger flats, the average first-timer application rate in 2024 was 2.2, down from 4.0 in 2019.
Minister Lee has assured that HDB will continue to release a steady pipeline of flats to meet housing demand in the coming years. Over 50,000 flats are set to be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027.
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Out of the 19,600 new flats planned for launch in 2025, approximately 3,800 will be Shorter Waiting Time (SWT) flats with a waiting period of less than three years. This is an increase from the 2,876 SWT flats offered in 2024 and surpasses the annual supply commitment of 2,000 to 3,000 SWT flats.
According to senior director of data analytics at Huttons Asia, Lee Sze Teck, the introduction of SWT flats will increase the options for buyers and may draw some demand away from the resale market.
In 2025, around 7,000 HDB flats will reach their five-year minimum occupation period (MOP), making it the lowest supply of such resale flats since 2015. “With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” says Sze Teck. “This larger flat supply and SWT flats will address the shortfall in MOP flats.”
He estimates that the number of HDB resale flat transactions in 2025 will range from 26,000 to 28,000, lower than the 28,876 units recorded in 2020. As a result, resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.
Check out the latest listings for HDB properties Ask Buddy Past HDB rental transactions Listings for HDB flats Past HDB sale transactions Compare price trend of HDB vs Condo vs Landed What is the HDB loan rate?
Past HDB rental transactions Listings for HDB flats Past HDB sale transactions Compare price trend of HDB vs Condo vs Landed What is the HDB loan rate?
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Minister for National Development Desmond Lee announced that HDB will be launching over 25,000 new flats in 2025, according to a joint press release by HDB and the Ministry of National Development (MND) on Jan 16. It includes about 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. The units will be a mix of Standard, Plus and Prime BTO flats under the new classification framework.
The February BTO launch will offer approximately 5,000 flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun.
Next month, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise, offering over 5,500 flats across various estates. About 40% of the flats in the SBF exercise are completed units, while the rest are at different stages of construction and are expected to be completed between 2025 and 2028.
In total, more than 10,000 new flats will be available under the February BTO and SBF exercises.
Over the last four years, from 2021 to 2024, HDB has launched about 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats—exceeding its commitment of 100,000 units over five years.
The ramp-up in BTO supply has resulted in a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO across all flat types was 2.1, compared to the pre-pandemic rate of 3.7 in 2019. The average first-timer application rate last year for three-room and larger flats was 2.2, down from 4.0 in 2019.
HDB will continue to release “a steady pipeline of flats to meet housing demand in the next few years”, says Minister Lee. Over 50,000 flats will be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027.
About 3,800 of the 19,600 new flats, or about one-fifth of the BTO flats slated for launch in 2025, will be Shorter Waiting Time (SWT) flats of less than three years. It is a boost from the 2,876 SWT flats offered in 2024 and more than the committed annual supply of 2,000 to 3,000 SWT flats.
“The SWT flats will also increase the options for buyers and may attract some demand away from the resale market,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.
In 2025, Lee estimates that about 7,000 HDB flats will reach their five-year minimum occupation period (MOP), making it the lowest supply of such resale flats since 2015. “With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” he says. “This larger flat supply and SWT flats will address the shortfall in MOP flats.”
Huttons’ Lee estimates that HDB resale flat transactions in 2025 will range between 26,000 and 28,000, lower than the 28,876 units recorded last year. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.
Check out the latest listings for HDB properties Ask Buddy Past HDB rental transactions Listings for HDB flats Past HDB sale transactions Compare price trend of HDB vs Condo vs Landed What is the HDB loan rate?