The authorities have nevertheless made some significant changes during the year, and perhaps these, in particular, are well worth taking a second look at.
1. Back in September, crucial policy changes were made to aid first-time HDB flat buyers protected their particular unit. Instead of having just new Build-to-order (BTO) flats to select from and having to wait for 3 to 4 years to allow them to be constructed, the choices now also extend to resale HDB flats.
The latter is a hybrid between public and private home, hence buyers are able to tap into governmental subsidies while enjoying the facilities of private condos from developer-led jobs. In addition, after 10 years, these ECs will wind up private possessions, frequently increasing in value.
Some property specialists have already discovered that demand for resale HDB flats, in particular for elderly ageing flats, have stabilised after these coverage changes.
2. The authorities have already launched more flats with shorter waiting times that this year so as to assist young couples settle down and start their own families sooner. These new flats will take 2-3 years to finish. In comparison, it took HDB applicants 3 to 4 years until they are able to guarantee the keys for their new units.
The next batch of those flats with shorter waiting times have been launched in Tengah in two jobs. Both are alongside an upcoming MRT station on the Jurong Region Line. The next launch of those flats with shorter waiting times will be at Choa Chu Kang. Approximately 500 units will soon be launched in May next year.
Up to 17,000 new BTO flats will soon be launched in 2020 so as to satisfy with the demand for HDB units after September’s coverage changes. This can be about 2,400 more components than a year’s supply of 14,600 units.
3. Greener and enhanced HDB houses
HDB is working towards creating greener HDB houses. They are wanting to create houses with integrated smart system and also lessen the demand for air-conditioning. Working together with German industrial giant Evonik, HDB expects to reduce back indoor temperatures by 2-degree Celsius throughout the use of roofing insulation that has already been adopted in Germany and Switzerland.
Beneath the Home Improvement Programme, upgrading functions for 230,000 houses will be done during the next decade. The very first batch of 55,000 HDB flats constructed between 1987 and 1997 will probably be done next year, and also the functions comprise repairing spalling concrete and replacing waste pipes as well as subsidised selections such as bathroom upgrading.