Commentary Do We Really Need To BTO Still? 8 Outdated Property Practices That Need To Change In Singapore

  • August 22, 2022
  • 11 min read
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Ryan J

Ryan is an old school print journalist gone digital. He's lived in almost every type of housing in Singapore, from flats to landed homes. Over the past 18 years, he's been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. He also spends too much time and money on painting little plastic soldiers.

kopi lim
kopi lim

It is my view that the crazy resale HDB prices will continue to rise unabated for at least the next 10 years. There is just too much pent up demand from 2 years of construction delays for 35% to put even a dent in.

Also IMO but resale HDB prices will never be artificially depressed or manipulated back to a more sensible level. Your average Singaporean citizen who went all in on his flat and looks to it as a secure investment cum own stay property is likely to flip table and switch allegiances at the next toto shading session.

Stacked Homes
Stacked Homes

Thanks for sharing your thoughts. Hopefully prices would not continue in its current trajectory as it could be quite unsustainable for the new generation of buyers. Over time, the increase in supply and reduction in lease remaining should see prices come down to a more affordable level, we hope.


in 1990, a HDB 5 room executive apartment costs $101K. Today, a smaller 5 room flat under BTO will cost $400-500K. Almost 4-5 times more. Even allowing for inflation, the increase is incomprehensible. Any reasons for such a high price since HDB doesn’t pay anything for public land? or it isn’t true any more?

Stacked Homes
Stacked Homes

Well Singapore’s inflation isn’t as high as real estate growth e.g. prices doubled between 2007 – 2013 but a plate of chicken rice didn’t, and HDB does factor in the location when it comes to pricing its BTOs – mature estate BTOs are more expensive due to its proximity to amenities and connectivity. HDB doesn’t price its BTOs to recover costs, however, prevailing market conditions does have a say in how it’s priced too. You can find out more about how HDB prices their BTOs at

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