Singapore government may boost BTO supply further amid strong housing demand
- Ben Tan
- Jan 8
- 4 min read
The Singapore government has made it clear: if demand for public housing remains strong, it is prepared to build even more Build-To-Order (BTO) flats beyond the current target of 55,000 units between 2025 and 2027.
Speaking at a media doorstop on Jan 8, Chee Hong Tat, Singapore’s Minister for National Development, said he has instructed Housing & Development Board (HDB) to go beyond existing plans if necessary. The priority is clear: keep housing accessible, keep prices stable, and prevent excessive pressure on the resale market.
This stance reflects the government’s broader strategy of using supply as the main lever to manage housing affordability.
Why does the BTO supply matter for resale prices?
Chee explained that a strong pipeline of new BTO flats helps in two major ways:
Improves accessibility for first-time buyers
Moderates resale prices by diverting demand away from the secondary market
And we are already seeing early signs of this working.
HDB resale prices recorded their fourth consecutive quarter of slower growth in Q4 2025. For the full year, resale prices rose 2.9%, a sharp slowdown from 9.7% in 2024, and the weakest growth since 2019.
This cooling trend is expected to continue into 2026, as more flats reach their Minimum Occupation Period (MOP), injecting additional supply into the resale market.
BTO launches in 2026: What buyers can expect?
For 2026, HDB plans to launch around 19,600 BTO flats across three sales exercises in February, June, and October—roughly the same as 2025.
Key highlights include:
Over 4,000 flats with waiting times under three years
A mix of Standard, Plus, and Prime flats
Locations such as Ang Mo Kio, Bukit Merah, and Tampines
As of today, HDB has 127 projects under construction, up from 110 a year ago, keeping it on track to deliver about 55,000 flats between 2025 and 2027—with the option to go higher if demand requires.
The results are already visible. During COVID, BTO application rates were as high as 7 times. In 2025, this has normalised to around 1.1 to 1.9 times, a far more balanced market.
Affordability remains a core policy objective
Chee reaffirmed that BTO flats will continue to be priced based on household income levels, ensuring that:
Housing price-to-income ratios stay reasonable
Mortgage servicing ratios remain manageable
On potential policy changes—such as raising income ceilings, lowering the age for singles, or removing the 15-month wait-out period for private property owners—the government is taking a cautious approach.
These measures will only be adjusted when market conditions are right and when there is sufficient supply to prevent longer waiting times or unintended price spikes.
Completion updates and estate development
In 2025 alone, HDB completed 19,600 flats across 28 projects, with a median waiting time of about four years. Several projects were completed ahead of schedule, including developments in Tengah, Hougang, and Yishun.
Notably, 2025 marked the completion of all 12 public housing projects in Bidadari, a 93-hectare estate that has delivered 8,872 homes since its first BTO launches in 2015.
On ageing flats, the government will continue:
The Neighbourhood Renewal Programme
The Silver Upgrading Programme
Future tranches of the Home Improvement Programme (HIP)
The government is also reviewing the voting threshold for the Voluntary Early Redevelopment Scheme (VERS). Not too sure how VERS will affect you? Read this article.
Private housing supply: Still tight
On the private property front, around 12,000 private homes are expected to be launched in 2026—similar to 2025, and about 50% higher than 2024, but still relatively controlled.
Chee noted that if demand remains strong, the government can release more land through the Government Land Sales (GLS) programme, using both confirmed and reserve sites.
Ben’s thoughts: What does this mean for homeowners and upgraders?
Here’s how I see it.
We are heading into a phase where HDB supply is increasing, while private housing supply remains relatively limited. On top of that, more HDB flats will hit the resale market as MOPs expire.
This combination likely means:
HDB price growth stays moderate
Private property prices may grow faster
The price gap between HDB and private homes widens further
Wage growth and Singaporeans’ aspiration to upgrade will only deepen this gap over time.
Older HDB flats—especially those targeted for future VERS considerations—may feel the pressure first. Demand could slow, and prices may go sideways rather than continue rising.
If you’re currently staying in an HDB and planning to upgrade, timing matters more than ever. Once your MOP is up, waiting longer doesn’t necessarily mean higher profits—but it could mean paying significantly more to enter the private market later.
If you’re unsure about your next move, your upgrade timeline, or whether it still makes financial sense, this is exactly the kind of decision you should not leave to guesswork.
If you have plans but don’t know what to do next, speak to us. We help homeowners make well-timed, data-driven property moves—before the gap gets even wider.
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