يحاول ذهب - حر

Affordability of resale flats a key priority, says new National Development Minister

May 29, 2025

|

The Straits Times

The affordability of Housing Board resale flats is a key priority for the Government, said National Development Minister Chee Hong Tat.

- Isabelle Liew

Affordability of resale flats a key priority, says new National Development Minister

"This is an important area for my ministry and me. We want to see how we can help to address this concern at the heart of it," he told reporters on May 28, five days after assuming the national development portfolio.

Mr Chee attributed higher resale flat prices to the Covid-19 pandemic, which slowed the construction of Build-To-Order (BTO) flats and drove some home buyers to the resale market.

Resale prices are expected to moderate in the years ahead as more flats reach their minimum occupation period (MOP) from 2026, he said. About 13,500 flats will reach their MOP in 2026, up from 8,000 in 2025. In 2028, this will rise to 19,500 flats.

From October 2024, a Standard BTO flat comes with a five-year MOP, during which the owners must reside physically in the unit before it can be resold. Plus and Prime flats have a 10-year MOP.

Before this, most BTO flats had a five-year MOP.

Mr Chee, who was sworn in as Minister for National Development on May 23, was speaking to the media during a visit to the Toa Payoh Ridge BTO project in his Bishan-Toa Payoh GRC.

Home owners at the 920-unit project in Lorong 1 Toa Payoh, which was launched for sale in February 2020, started collecting the keys to their flats last week.

Mr Chee said his ministry will continue to have a strong supply of new BTO flats, building on the work of former national development minister Desmond Lee.

For instance, HDB had exceeded its target of launching 100,000 BTO flats from 2021 to 2025.

المزيد من القصص من The Straits Times

The Straits Times

More power to drivers, ‘better racing’ in 2026 Fl season

Formula

time to read

2 mins

December 19, 2025

The Straits Times

Common hormonal disorder linked to longer reproductive lifespans in S'pore women

Study finds women with milder form of PCOS condition may conceive more easily

time to read

3 mins

December 19, 2025

The Straits Times

The Straits Times

Personal touch

These designers turn glass, sequins and metal yarn into handmade accessories

time to read

4 mins

December 19, 2025

The Straits Times

Singtel-owned Optus criticised in review for failures in Australia's fatal emergency call outage

Optus’ management has been sharply criticised in an independent review into September’s fatal emergency call outage, which found that a series of avoidable failures and cultural shortcomings at Australia’s second-largest telecommunications services provider contributed to the incident.

time to read

1 mins

December 19, 2025

The Straits Times

India defends efforts against doping

India tops the rankings of global sports drug cheats for a third straight year, the World Anti-Doping Agency (WADA) said, marking a dubious hat-trick for the country.

time to read

1 mins

December 19, 2025

The Straits Times

The Straits Times

FairPrice extends discounts for vulnerable S'poreans till end-2026

Vulnerable Singaporeans will continue to enjoy savings on daily essential items such as rice and eggs until Dec 31, 2026, after FairPrice Group (FPG) on Dec 18 announced an extension of its daily discount schemes.

time to read

2 mins

December 19, 2025

The Straits Times

BlueSG disposes of entire EV fleet ahead of relaunch

Three-door Bluecar vehicles scrapped; larger models sold to used car dealerships

time to read

2 mins

December 19, 2025

The Straits Times

'I inherited a mess, I'm fixing it': Trump vows an economic boom

He insists prices of petrol and groceries that have worried Americans are falling rapidly

time to read

6 mins

December 19, 2025

The Straits Times

Disney+ makes political K-drama with $6lm

Made In Korea unites heavyweight actors Hyun Bin and Jung Woo-sung

time to read

2 mins

December 19, 2025

The Straits Times

The Straits Times

'No shame' as softballers lose to Filipinos

Back in 2015, a bronze medal at the SEA Games was enough to make the Singapore men's softball team feel overjoyed.

time to read

3 mins

December 19, 2025

Listen

Translate

Share

-
+

Change font size