Median, Lower and Upper Quartile Actual Waiting Time for HDB BTO Flats in Past 10 Years
Ministry of National DevelopmentSpeakers
Summary
This question concerns the median, lower, and upper quartile actual waiting times for HDB BTO flats for buyers who collected their keys over the past decade. Ms Hazel Poa requested these statistics, prompting Minister for National Development Desmond Lee to state that pre-pandemic wait times of three to four years increased by six to nine months due to COVID-19. The Minister attributed longer durations to supply chain disruptions, geopolitical uncertainties, and the construction of higher-rise developments to intensify housing yield. He noted that while site complexities affect timelines, construction momentum is regaining pace as the pandemic situation stabilizes. Minister for National Development Desmond Lee affirmed that HDB remains committed to minimizing delays and delivering quality homes as quickly and safely as possible.
Transcript
44 Ms Hazel Poa asked the Minister for National Development what is the median, lower and upper quartile actual waiting time for HDB BTO flats each year based on those who collected their keys in the past 10 years.
Mr Desmond Lee: There are various factors that affect the construction time of each Build-To-Order (BTO) project, including site conditions and the height of the buildings. Projects with difficult site conditions or with very high storey-heights will require more construction time, and consequently, a longer waiting time for buyers.
The median, lower and upper quartile actual waiting time for flat buyers who collected the keys to their BTO flats in the past decade are set out in Table 1.
Prior to the COVID-19 pandemic, the actual waiting time for BTO projects was about three to four years. The pandemic has affected the construction industry and BTO waiting times. On average, there was a delay of about six to nine months in the flat completion, which resulted in longer waiting times in the past two years. Besides the significant delays caused by the COVID-19 pandemic, and supply chain disruptions over the last two years caused by both the pandemic and current geopolitical uncertainties, the longer median waiting time now can also be partly attributed to higher-rise HDB developments as HDB intensifies housing yield to meet the strong housing demand.
With the improving COVID-19 situation and a more positive outlook in the construction industry, construction projects are gradually regaining momentum. Barring any unforeseen circumstances, we expect construction progress to improve going forward. HDB will continue to work hard to further minimise delays and deliver new BTO flats to buyers as soon as possible, while ensuring that the safety and quality of our projects are not compromised.