BTO prices will not rise with resale market: Khaw
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This Feb 11, 2012 file photo shows ongoing construction at a HDB BTO project in Sengkang. National Development Minister Khaw Boon Wan on Thursday made clear that he has de-linked the prices of new flats sold by HDB from the resale flat market. -- ST PHOTO : ALPHONSUS CHERN
National Development Minister Khaw Boon Wan today made clear that he has de-linked the prices of new flats sold by HDB from the resale flat market.
He has done this ever since he took over the housing portfolio in 2011 to ensure that Build-to-Order (BTO) flats remain affordable despite the rising resale market, he said.
Speaking to reporters at the HDB hub on Thursday morning, he noted that BTO prices across HDB's new launches in the past 18 months have been stable, although prices of resale flats have been steadily climbing.
This means that the subsidy that the Government is giving for the construction and sale of new flats has been growing.
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