Khaw Boon Wan: 20,000 new flats to be released next year which will ‘stabilize’ housing market
Posted by temasektimes on August 7, 2012
At least 20,000 new Housing and Development Board (HDB) flats will be built next year which will ‘stabilize’ the red-hot housing market, declared National Development Minister Khaw Boon Wan on his personal blog on Monday.
Mr Khaw added that “the government has made steady progress in ramping up supply and stabilising the housing market” which makes one wonder why it was not done earlier a few years ago when the relentless influx of immigrants led to sky-rocketing prices.
“I expect this sustained supply to firmly stabilise the housing market. This will give Singaporeans many options as they make their flat purchases prudently and wisely,” Mr Khaw said.
Despite the increase in the supply of new flats, the prices of HDB flats, both BTO and resale continue to rise, albeit at a slower rate.