Prices and Waiting Times for New HDB and BTO Flats

Mr Christopher de Souza asked the Minister for National Development (a) what are the mean and median prices for new 2-room, 3-room, 4-room and 5-room Build-to-Order (BTO) HDB flats, across the island, in both mature and non-mature estates; and (b) what is the average waiting time for a BTO flat, from the booking of a flat by a successful applicant, till the collection of keys upon the completion of the flat.

The average selling prices of Build-to-Order (BTO) flats offered recently in the non-mature estates are $110,000 for a 2-room flat, $187,000 for a 3-room flat, $295,000 for a 4-room flat and $386,000 for a 5-room flat. The median prices are at similar levels.

This year, there was one BTO project in a mature estate, at Toa Payoh. The prices of the 3-room and 4-room flats offered were around $321,000 and $470,000 respectively. The prices of BTO flats in mature estates are higher, given their locational advantages and wider range of facilities.

For BTO projects completed in the past year, the average waiting time from booking of the flat to key collection is about three years.