Expect 80,000 new HDB flats in next three years: Khaw

All eyes on the HDB resale market.

Over the next three years, 80,000 new HDB flats will be completed and keys handed over to buyers. This was revealed by Minister for National Development Khaw Boon Wan. He said this year alone, 30,000 new flats will be completed--more than double last year’s figure.

Khaw added "most of these buyers are getting their first flats. But some, not a small number, are flat owners who will need to dispose of their existing flats within six months after collecting keys to their new flats.

Last year, there were 18,100 HDB resale transactions. Of these, 2,800 units came from such households who were in the process of moving to their new flats. We expect this number to double to about 6,000 units each year for the coming three years."

The government is expected to monitor the market closely along with flat hunters and sellers.