Almost 40,000 are expected to be ready in 2023 – the highest in the last five years. Read more at straitstimes.com.
SINGAPORE - Close to 100,000 private and public homes are expected to be completed between 2023 and 2025, as Singapore ramps up construction to catch up on
Preparation for greenfield sites includes ensuring supporting infrastructure such as roads and sewers are ready and conducting extensive soil investigations, he said. “So lots of forward planning and preparation is required before we can even begin construction – about five to 10 years of lead time – or even more in some cases,” said Mr Lee.
The wait for a flat under the RFS was as long as seven years at the height of the property boom in the mid-90s, but HDB was left with 31,000 unsold flats which took many years to sell after demand plummeted when the Asian financial crisis hit in 1997. This had a very serious impact on the value of existing homes in the resale market, Mr Lee noted.
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