43,000 HDB BTO households affected by delay, but only 240 households were assisted with Interim Rental Housing (IRH) flats

On 5 April 2021, the Ministry of National Development declared in the Singapore Parliament that construction at all 89 ongoing HDB BTO projects has resumed following the Circuit Breaker period last year.

However, project timelines have been affected due to the Circuit Breaker period, strict safe management measures put in place for work at construction sites to resume, and global supply chain disruptions and manpower shortages within the construction industry.

About 85% of these ongoing BTO projects have been delayed by about 6 to 9 months beyond the Estimated Completion Dates (ECDs) originally indicated to buyers during project launches.

As at end Feb 2021, HDB has updated about 43,000 affected households on the delay, of which around 240 households were assisted with Interim Rental Housing (IRH) flats.

Source: https://www.mnd.gov.sg/newsroom/parliament-matters/q-as/view/written-answer-by-ministry-of-national-development-on-managing-the-construction-backlog-of-bto-flats-that-have-been-delayed-due-to-the-covid-19-pandemic

It was also published in the news:

Ms Han said she has not been informed of any delays.

"I think our waiting time of four years is not as bad - at least it's not five or six years. I just try to not think about it. Before you know it, it's key collection time," she said.

Source: https://www.straitstimes.com/singapore/housing/85-of-all-ongoing-bto-projects-delayed-43000-households-affected

That Ms Han is not me.

Unfortunately, my family is one of the 43,000 households and our delay is the longest at nine months.

This delay in HDB BTO is good news for HDB resale.

Families that are growing have no choice but to seek shelter (literally) from the resale market.

The Housing Board resale market remained steadily robust in the first quarter of this year amid Covid-19 vaccine optimism, with prices of resale flats rising for the fourth consecutive quarter even as fewer flats changed hands.

The resale price index for the first three months of the year was logged at 142.2, an increase of 3 per cent over that in the fourth quarter of 2020, according to figures released by HDB on April 23.

Prices rose 8.1 per cent year on year.

Source: https://www.straitstimes.com/singapore/housing/hdb-resale-prices-climb-for-4th-consecutive-quarter-volume-dips

Interestingly, the number of approved applications to rent out HDB flats rose by 26 per cent, from 8,472 cases in the fourth quarter of last year to 10,676 cases in the first quarter of this year.

If Singaporeans are doing well, why are they renting out their flats despite the covid pandemic?

If housing is affordable, why are people renting a house when they can simply buy one?

Why are people taking the risk to move during a global pandemic?