HDB to launch 11,000 new flats

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Jan 4, 2011
HDB to launch 11,000 new flats

By Jessica Cheam

THE Housing Board will launch 11,000 new flats in the first half of this year in estates such as Bukit Panjang, Jurong West, Punggol, Sengkang and Yishun.

The HDB also said yesterday that it plans to offer up to 22,000 new flats for the whole of this year if the demand for homes is sustained.

This follows the statutory board's recent aggressive moves to ramp up supply, with 17,700 new homes launched last year.

On top of this figure, last year it also unveiled premium condo-like executive condominium (EC) units and Design, Build and Sell Scheme (DBSS) units, a total of 4,000 and 3,000 flats, respectively.

Of the EC units, 1,659 have already been put up for sale. The other projects will be launched by private developers as and when they are ready, said the HDB.

This year, it also plans to add to the supply of premium homes by launching the sale of four sites in the first half of the year under the DBSS, which will generate about 2,720 flats - about two-thirds of the 4,000 flats expected for the year.

The units - located at Clementi Avenue 4, Pasir Ris Central, Fernvale Link in Sengkang and Bendemeer Road - will be launched this month, March, May and June, respectively.

The HDB will also release four sites for EC projects, which will yield about 2,290 units across Choa Chu Kang, Tampines, Punggol and Serangoon.

EC units re-entered the market last year, after a five-year hiatus.

ERA Asia-Pacific associate director Eugene Lim said the HDB's move to pump supply into the market 'seemed to have had some effect', especially on cash-over-valuation premiums.

'All these new flats provide more choice, and go some way to luring some buyers away from the resale market, where prices have been propped up by high demand and limited supply,' he said.

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