Buyers consisting of mainly younger couples aged between 25 to 35 years old in these 2,982 BTO units across these affected BTO projects: Sky Vista @ Bukit Batok, Senja Heights and Senja Ridges in Bukit Panjang, and Marsiling Grove in Woodlands have been affected.
The fifth one is West Coast Parkview in Clementi, located opposite West Coast Park. This serves as one of the Selective En bloc Redevelopment Scheme (Sers) replacement sites for residents in Blocks 513 to 520 West Coast Road.
Buyers of Senja Ridges and Senja Heights who bought in 2016 would be most disappointed as they were expected to be completed in the last quarter of this year and the first quarter of 2022. Buyers of Sky Vista @ Bukit Batok, launched in August 2017, was expected to be completed in the third quarter of next year. Marsiling Grove's expected completion date was in the fourth quarter of 2022, and West Coast Parkview in the second quarter of 2023.
HDB could have allowed the main contractors to re-quote HDB with higher prices above what was originally agreed years ago for these ongoing projects which may lead to an unexpected cost increment of hundreds of millions of dollars for these 5 BTO projects - according to a rough off the cuff estimation.
Private condo developers have allowed their main cons to re-quote higher construction costs in order to prevent them from going bust - this has also led to developers raising the prices for current and upcoming new condo launches due to the unforeseen higher costs of building the new condo projects.
On 23 April 2021, Minister Lawrence Wong, who led the multi-ministry task force tackling Covid-19, said Covid had a major impact on the construction sector leading to longer wait time for the completion of Housing Board Build-To-Order (BTO) flats and private apartments as well as a huge rise in cost of labour and materials which has escalated by 30 per cent to 50 per cent.
Kiwi Lim believe at least one third of the almost 3,000 households may pull out of the BTO projects and switch to resale HDB flats in more matured estates or resale condos as these couples may not be willing to wait an additional 2 to 3 years on top of the number of years that they have already endured. Some of these couples already had babies or are finding it too stressful to stay with their in-laws especially from WFH arrangements at home.
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