Issue #8: What’s Happening This Week?—Singapore to Launch 19,600 BTO Flats in 2025, COE Quota to Rise by 8%, And More

Singapore’s 2025 flat supply gets a 19,600 boost in BTO flats, Standard Chartered nerfs their flagship savings account (again!), and an iconic hotel opens a luxurious all-villa resort in Sentosa. These are the headlines that you might have missed this week.

Get all the details in this edition of What’s Happening This Week?, our weekly series rounding up the latest finance news and updates that matter to you.

TLDR: Singapore is to launch 19,600 BTO flats in 2025, of which 3,800 come with shorter waiting times. The COE quota will rise by 8% from Feb to Apr 2025, with a total of 17,133 COEs to be made available. According to a survey by Blackbox Research, cost of living tops Singaporeans’ concerns ahead of the General Election. The all-villa resort Raffles Sentosa Singapore is set to open on 1 Mar 2025, and is now taking bookings.

Want more details? Let’s dive in.

 

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Singapore to launch 19,600 BTO flats in 2025, 3,800 with shorter waiting times

Singapore is ramping up its public housing supply, with 19,600 Build-to-Order (BTO) flats set to launch in 2025, including 3,800 units with waiting times of under three years. These shorter-wait flats make up nearly 20% of this year’s supply.

This year’s flat offerings will span various categories—Standard, Plus, and Prime—and locations such as Kallang/Whampoa, Bukit Merah, Queenstown, Mount Pleasant, Woodlands, Yishun, and Sembawang. February will also see the largest-ever Sale of Balance Flats exercise, adding 5,500 units to the mix. In total, 25,000 flats will be available this year.

The government has exceeded its goal of launching 100,000 flats between 2021 and 2025, with over 102,300 units now expected. Looking ahead, Singapore aims to deliver 130,000 new flats by 2027, adding another 30,000 units over the next 2 years.

Efforts to streamline the process are showing results. Average application rates for first-time buyers dropped to 2.1 in 2024 (from 3.7 in 2019), thanks to stricter penalties and fewer queue numbers issued. February’s BTO launch will also cater to singles, with 1 in 4 two-room flats designed to meet their rising demand.

 

COE quota to rise by 8% from Feb to Apr

Planning to buy a car? Good news: the Certificate of Entitlement (COE) supply will increase by 8% in the Feb to Apr 2025 quarter, according to the Land Transport Authority (LTA). A total of 17,133 COEs will be available, up from 15,834 in the previous quarter.

Compared to the same period last year, the quota is a hefty 16% higher, making it one of the largest year-on-year increases in recent times. This adjustment affects most categories: Category A (small cars), B (large cars), C (goods vehicles), and E (open category) will all see a boost of about 10%. However, Category D (motorcycles) remains unchanged.

LTA attributes the increased supply to several factors, including more vehicle deregistrations, a slight growth provision for commercial vehicles, and adjustments for taxis and other schemes. Bidding for the new quota begins on 3 Feb 2025, so mark your calendars!

Looking ahead, the COE quota for May to July 2025 will be announced in April. With these changes, prospective car buyers could see a slight easing in bidding pressure—but as always, competition is expected to remain fierce.

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Cost of living tops Singaporeans’ concerns ahead of General Election

Are your friends always complaining about things getting more and more expensive? Probably. So it should come as no surprise to you that the cost of living is a top concern among Singaporeans. That’s according to a recent survey that Blackbox Research conducted with 1,310 eligible voters ahead of the 14th General Election—expected by 23 Nov 2025.

The survey found that 34% of respondents cited cost of living as their primary issue. Other key economic concerns include jobs and unemployment (15.6%) and the state of the economy (15%), rounding out the top 3. Political considerations such as stability (14%), trust in a party (13.5%), and government leadership (11.6%) follow closely. Meanwhile, housing costs (11.5%) were especially significant for voters under 49, ranking among their top 3 concerns.

The survey also found that over a quarter of Singaporeans remain undecided on who to support, underscoring the weight of economic and practical issues in the election outcome.

 

Raffles Sentosa Singapore to open 1 Mar, now taking bookings

How do you make the atas Raffles Hotel even more luxurious? You open another iteration in Sentosa.

The highly anticipated Raffles Sentosa Singapore, the country’s first all-villa resort, is opening its doors on 1 Mar 2025, and is already accepting bookings for stays, weddings, events, spa treatments, and dining experiences. This marks a historic expansion for the Raffles brand, which first began in Singapore back in 1887 with its iconic flagship hotel.

Nestled on Sentosa Island, the resort spans a sprawling 100,000 square meters of lush tropical greenery. Designed by the renowned studio Yabu Pushelberg, the property features 62 luxurious villas, each equipped with a private pool, outdoor terrace, and floor-to-ceiling windows offering stunning views of the surrounding gardens. Villas range from 210 sq m for a 1-bedroom retreat to a palatial 650 sq m 4-bedroom Royal Villa.

Other wellness and luxury amenities include a spa housed in a converted heritage landmark and 2 elegant ballrooms for weddings or events, accommodating up to 400 guests. Foodies will enjoy 5 dining destinations, including Italian specialties at Empire Grill, refined Cantonese at Royal China, and a signature Raffles Afternoon Tea.

 

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