http://www.businesstimes.com.sg/sub/...11140,00.html?
Published August 7, 2010
More flats next year if demand stays strong: Mah
They may come up in established estates; no new estates to open
By EMILYN YAP
THE Housing & Development Board (HDB) could roll out more than 16,000 new flats across various estates next year if demand for public housing stays firm, National Development Minister Mah Bow Tan said yesterday.
Rising resale flat prices and cash premiums have prompted HDB to launch up to 16,000 new flats under the build-to-order (BTO) scheme this year. This is probably the highest number in 10 years, Mr Mah told reporters on the sidelines of his ministry's National Day observance ceremony yesterday.
In the seven months to end-July, HDB brought more than 9,800 new BTO flats to market. And subscription rates for launches have been high.
'If demand continues to be strong like this, we will ramp up our building programme even further for next year,' Mr Mah said, adding that HDB is looking for land and getting plans ready.
More flats could come up in established estates such as Tampines and Jurong, beyond the newer towns of Punggol and Sengkang. Punggol has achieved a critical mass of about 21,000 to 22,000 flats, Mr Mah said. 'Once we have achieved that, then we are able to now move into other parts of Singapore as well.'
There is still land available for development at Punggol and Sengkang, and HDB is also looking for sites in other estates, he said. But it will not open up new estates yet.
In March, Mr Mah flagged Tengah in the west and Simpang in the north-east as potential townships.
But while the government has set aside land for new estates, building them will be costly and will require a lot of work in terms of putting in roads, sewerage systems and other infrastructure, he explained.
Demand has been strong not just for public housing but also for private homes - particularly those in the mass-market segment. Earlier this week, the government cut the project completion period (PCP) for private residential sites that it sells to five years from six years to ensure a more timely supply of homes.
Mr Mah described the change as a 'minor tweaking' and said that it should not affect many developers. The shorter PCP gives 'better assurance that the supply will come on stream', he said. 'The longer the PCP, the more uncertain the supply projections going forward.'
In his speech at the ceremony, Mr Mah said that the government will launch the Northern Explorer Park Connector Network this year. This is the third of seven loops linking parks around the island.
Five teams from various agencies under the National Development Ministry received awards from Mr Mah yesterday for various projects, such as rolling out Singapore Green Building Week.