NEWS & EVENTS

Housing projects completed in 2021 expected to exceed pre-pandemic numbers

Singapore, 12 October 2021 – To keep Singapore’s housing projects on track amid the pandemic, Housing Development Board (HDB) has been supporting contractors, including rolling out an extensive suite of assistance measures to help ease their financial pressures.

This has enabled HDB to continue to deliver homes to flat buyers amid severe disruptions to the construction industry caused by the pandemic. Since January 2020, HDB has completed 25 residential projects and delivered more than 16,000 new homes to Singaporeans.

Among the 25 projects, 11 were completed in 2020 and another 14 completed in 2021 to-date. Another five projects are expected to be completed by the end of this year, barring unforeseen circumstances. This is over 70 per cent more than the number of projects delivered in 2020, which was disrupted by the two-month Circuit Breaker and then slow resumption of construction activities. The projected completion of 19 projects in 2021 will exceed the 17 projects completed in 2018 and 2019 each, before the pandemic.

Source: HDB

For all the 25 projects delivered since January 2020, the waiting times ranged from 2.4 to 5.3 years, with an average waiting time of 4.1 years. Among them, 11 projects, or more than 40 per cent, were delivered in less than 4 years (with 8 delivered in less than 4 years and 3 delivered in under 3 years). For ongoing BTO projects, the average waiting time is also comparable at 4 to 5 years, including delays brought about by the pandemic. Overall, barring unforeseen circumstances, the average waiting time of BTO projects to be delivered from now till end-2024 is about 4.4 years.

With projects progressively being completed, more flat buyers have collected the keys to their new homes. From January to September 2021, about 10,350 new flats were delivered to flat buyers. This has surpassed the 6,340 and 9,380 flats delivered over the same period in 2020 and 2019 respectively.

– Construction+ Online

Source: HDB