700,000 new homes by 2030: too many or too few?

700,000 new homes will be built in the central region, including the former Bukit Turf Club, Kallang Riverside, Bukit Brown, and the waterfront area around Keppel, as part of the government's long-term plan to roll out new housing units by 2030.

Of these, almost 200,000 homes, comprising 90,000 private units including executive condominiums, and 110,000 public homes, are expected to be completed by 2016. According to the Land Use Plan released yesterday, three new towns will be carved out: Bidadari which will have about 11,000 homes (both public and private housing), Tampines North which will have about 21,000 homes, and Tengah which will see about 55,000 homes.


Market watchers generally concurred that the areas highlighted in the plan should see land values increase over time.

About 87,000 new homes are expected from the three new towns created. Build-To-Order (BTO) projects can be expected in Bidadari and Tampines North in the next two to three years while BTO projects in Tengah are expected to come onstream in the next three to five years.

More housing estates are also being planned within the central region. The number of housing units released will depend on various considerations, including achieving a good mix of housing types. The sites will be staged for development by 2030 pending demand.

Separately, Minister for National Development Khaw Boon Wan stressed that prices of new flats sold by HDB are not linked to the resale flat market, adding that BTO prices across HDB's new launches in the past 18 months have been stable even as prices of resale flats have been climbing steadily.

Source: Business Times –1 February 2013