SINGAPORE - Home buyers will soon get more information to plan their purchases, with the Housing Board announcing new projects six months in advance instead of three.
The HDB will also shorten the waiting time for applicants to receive their ballot results by half, from six weeks to three.
National Development Minister Lawrence Wong, announcing the measures in Parliament on Thursday (March 7), said these moves are part of a long-term plan to keep housing affordable and accessible for Singaporeans.
Both changes will apply from the May sales exercise onwards.
The expanded Build-to-Order (BTO) announcement schedule will allow home buyers to see upcoming projects on a longer horizon, and plan accordingly.
This means that in the May exercise, buyers will know which projects will be launched in August and November. The details that will be released will include the location, the number of units and the flat mix.
The shortened balloting time is a response to Mr Wong's challenge to HDB to minimise the waiting time for buyers to get their flats during the debate on his ministry's budget in 2018.