In his speech, Mr Chee also reiterated that the ministry is looking at increasing the BTO income ceiling and lowering the eligibility age for singles to buy HDB flats.
“But to do more for our singles and also for other groups of flat buyers, HDB will need to build more flats to ensure supply is adequate to meet higher demand,” he said.
On the Voluntary Early Redevelopment Scheme (VERS), Mr Chee said that the plan is to start with a few sites in the first half of the next decade, before scaling up the programme from the late 2030s.
He added that the government will aim to “flesh out” as much of the VERS policy framework as possible in this term of the government, and will engage Singaporeans to take in feedback before the policy is firmed up.
He added that flat owners can look forward to a second round of upgrading works via the Home Improvement Programme II (HIP II) when their flats reach the 60 to 70-year mark.
HIP II will be more extensive and make use of new technologies like microwave scanning, which helps detect and trace sources of water seepage in more complex cases.
On resale flats, Mr Chee noted that as at mid-February, HDB resale prices for 2026 have shown a slight decline of 0.1 per cent.
HDB flat resale prices rose by 2.9 per cent in 2025, compared with 9.7 per cent in 2024, marking the slowest price growth since 2019.
