The Housing and Development Board (HDB) of Singapore has announced the launch of 7 Build-to-Order (BTO) projects on November 21, 2012, to bring the total supply of new flats to more than 34,000. This will include the sale of balance flats and this will result in the largest supply of housing in a year, since the BTO system was introduced in the 2002.
The new projects have been announced in the final BTO exercise of the year. The new projects will offer 6,463 new flats in two non-mature estates and three mature estates. Overall, the HDB has launched 7,153 balance flats under the sale of Balance Flats exercises, bringing the total to 27,084 BTO units this year.
People who apply for flats at Fengshan Greenville, Ghim Moh Edge and Toa Payoh Crest, will get the multi-generational priority scheme, according to HDB. Elderly flat owners in Queenstown, Bedok and Toa Payoh will get a double balloting chance under the Ageing-In-Place Priority scheme, as they apply for a studio apartment in Fengshan Greenville, Ghim Moh Edge and Toa Payoh Crest.
Eligible first time households can get up to S$60,000 worth of housing grants, which comprises of additional CPF Housing Grants and Special CPF Housing Grants.