Recently, a 5-room Henderson HDB resale flat at City Vue became the most expensive resale flat in Singapore’s history when it was sold for a record $1.4 million last week.
This sent some Singaporeans into a spiral of depression that the “affordable public housing model” has resulted in this. Meanwhile, those who have already jumped on the BTO bandwagon are biding their time in hopes that their own flats will eventually turn them into overnight millionaires (at least more realistic than trying to strike Toto or 4D).
The May 2022 BTO launch, featuring 5,300 BTO flats across 6 projects including Queenstown, Bukit Merah, Toa Payoh, Jurong West and Yishun, could be that ticket to a million dollar flat. In particular, all eyes are on the three mature estates, Queenstown, Toa Payoh and Bukit Merah.
Two of the featured BTO projects will fall under the Prime Location Housing (PLH) model. The HDB hasn’t announced exactly which projects they will be, but the launch in Bukit Merah is likely to be affected.
Let’s have a look at the May 2022 HDB BTO projects to see if they suit your household’s needs.
HDB BTO May 2022 Launch: Overview
The May BTO 2022 will be launched on 27 May, Friday for applications and will close on 2 June, Thursday.
Price (excluding grants)
Henderson Road (opposite Tiong Bahru Park)
to be announced
Yuan Ching Road (next to Yuan Ching Secondary School
2-room flexi, 3-room, 4-room, 5-room
to be announced
Ghi Moh Road (next to Ulu Pandan CC)
to be announced
Lorong 7 Toa Payoh (opposite Toa Payoh East CC)
2-room flexi, 3-room, 4-room
to be announced
Yishun Central 2 (opposite Yishun Community Hospital)
2-room flexi, 4-room, 5-room
to be announced
HDB BTO May 2022: Bukit Merah
The Bukit Merah BTO project consists of 1,660 3-room and 4-room flats located on Henderson Road, bounded by Tiong Bahru Road and Lower Delta Road. It is about 5 minutes’ walk from Tiong Bahru MRT, which is a huge draw, since it is only two MRT stops away from Tanjong Pagar and three stops away from Raffles Place in the CBD.
Apart from an enviable city fringe location, the Bukit Merah BTO project is also located in one of the most desirable mature HDB estates in all of Singapore. You’ve got the hipster Tiong Bahru cafes and Tiong Bahru Plaza nearby, and the food in the area is great too thanks to Tiong Bahru Market and Food Centre, amongst other options.
For families with kids, there are several popular schools in the vicinity to choose from, including Crescent Girls’ Secondary School and Gan Eng Seng Secondary School.
There are two main downsides, the first being that only 3-room and 4-room flats are available, making it unsuitable for larger households.
The second downside is that there’s a good chance this project will fall under the PLH Model, which means buyers will have to put up with a longer Minimum Occupation Period (MOP) of 10 years and never being able to rent out the whole flat, amongst other restrictions.
Note: There was initially another Bukit Merah BTO project along Alexandra View (opposite Echelon condominium). The project has been postponed to the next BTO launch taking place in August 2022.
HDB BTO May 2022: Jurong West
The May 2022 Jurong West BTO project, which will consist of 1,010 2-room flexi, 3-room, 4-room and 5-room flats, will enable buyers to ride the wave of redevelopment in the Jurong Lake Gardens area.
Located on Yuan Ching Road and bordered by Kang Ching Road, the flats will be located right next to the North Shore of Jurong Lake Gardens, currently under redevelopment, with some residents enjoying nice waterfront views.
The May 2022 project also enjoys good connectivity, with Lakeside MRT just 7 minutes’ walk away. Lakeside MRT can take you to the CBD with no line changes needed.
As Jurong West is one of the more established non-mature estates, there are quite a few other amenities in the area including Taman Jurong Food Centre, SuperBowl Jurong and an ActiveSG gym at Jurong Lake Gardens.
Residents will also be about 10 minutes’ drive away from the Jurong East shopping district and its many malls.
For families with kids, there are numerous schools in the area, the closest being Yuan Ching Secondary School right next door and Lakeside Primary School.
HDB BTO May 2022: Queenstown
The May 2022 BTO launch in mature estate Queenstown will be located on Ghim Moh Road next door to Ulu Pandan Community Club, and bordered on one side by the Rail Corridor. It will be about 5 minutes’ walk from Buona Vista MRT, which takes you directly to the CBD.
For families, one of the biggest draws of this BTO project, which will consist of 860 3-room and 4-room units, is that it will be near big-name schools ACS (Independent), ACJC, ACS (International) and Fairfield Methodist School, as well as Singapore Polytechnic and Singapore Institute of Technology.
Furthermore, the neighbourhood is quite sought-after, with Holland Village and Chip Bee Gardens located about 10 minutes’ walk away and the popular Ghim Moh Road Market and Food Centre just across the road. Other amenities in the area include The Star Vista and the Rochestor Park dining enclave.
While the Queenstown project isn’t quite as central as its name suggests, being on the Dover end of Queenstown, it still offers an easy commute to Orchard and the CBD via Holland Road or by MRT.
This project is ideal for those who like the perks of living in the Holland/Dover area, but for others it might not be close enough to the city centre to warrant the heavy price tag of a mature estate launch.
HDB BTO May 2022: Toa Payoh
This is a tiny launch consisting of 380 2-room flexi, 3-room and 4-room flats on Lorong 7 Toa Payoh, opposite Toa Payoh East Community Centre, about 13 minutes’ walk from nearest MRT station Braddell, which is only four stops away from Orchard MRT and eight stops from Raffles Place MRT, no line changes needed.
Toa Payoh is considered city fringe. While not exactly right next door to the city centre, it is still fairly convenient, especially if you’re trying to get to Orchard Road.
Another reason Toa Payoh is so popular with buyers is because it is a highly established mature estate, with lots of well-loved amenities and good food options. There are numerous hawker and local eateries in the area, with many lorongs having their own food centre.
There are also quite a few schools within easy walking distance, including Pei Chun Public School, First Toa Payoh Primary School and Beatty Secondary School.
Overall, the Toa Payoh BTO launch is a solid choice for those looking for a vibrant city fringe mature estate to live in. But with so few units up for grabs, you’ll need lots of luck to get a unit.
HDB BTO May 2022: Yishun
Despite Yishun’s rather colourful reputation, it still is one of the more affordable neighbourhoods in Singapore and thus worth considering if you’re looking for a budget BTO flat.
In the May 2022 launch, 640 2-room flexi, 4-room and 5-room flats will up for grabs. The BTO project will be located at Yishun Central 2, bordered by Yishun Central 1 and Yishun Avenue 2, right next door to Yishun Community Hospital.
Despite Yishun’s suburban location, the connectivity of this BTO project is actually quite okay. The BTO site is about 9 minutes’ walk from Yishun MRT station, which takes you directly to the CBD in 35 minutes with no line changes. That translates to a commute of roughly 45 minutes, which isn’t terrible.
Other than nearby Yishun Community Hospital and Khoo Teck Puat Hospital, residents also enjoy easy access to the area’s major shopping mall, NorthPoint City. For families with kids, there are quite a few schools in the area, including Naval Base Secondary School, Chung Cheng High School (Yishun) and Yishun Innova Junior College.
The Yishun BTO project is a solid option for those who are looking for an affordable non-mature BTO flat that still enjoys decent public transport connectivity and a fairly established neighbourhood.
Should I apply for HDB BTO May 2022 launches?
Due to labour shortages and supply chain disruptions, expect a long wait for the BTO flats. The flats might take five years to be built, but to be safe you should prepare yourself to wait a 6th year if necessary. If you need to move out urgently, you’ll have to find an alternative place to stay or be willing to rent until your home is ready.
When can I apply for HDB BTO May 2022?
Sign up for the HDB’s eAlert Service so you don’t miss the launch date announcement when it is released. Select [New Subscription] > [Sales Launches] and click through until confirmation. You can opt for email or mobile SMS alerts.
Once the announcement drops, you’ll have to prepare your application right away. So long as you make the deadline, you’ll have an equal chance to get your flat, since BTO queue numbers are randomly assigned via a computerised system.
Edit: The May BTO will be launched on 27 May, Friday. Applications will close on 2 June, Thursday. The May Sale of Balance (SBF) will be held concurrently from 27 May to 2 June.
HDB Priority Schemes available to increase your BTO chances
You can boost our chances of success by signing up for up to two priority schemes.
Here’s a rundown of the various priority schemes you can apply for to increase your BTO chances:
Priority for first-timers – Eligible for applicants applying for an HDB flat for the first time
Parenthood priority scheme (PPS) – Eligible for first-timer married couples with citizen children or who are pregnant
Multi-generation priority scheme (MGPS): Eligible if you apply with your parents…. And you and your spouse have children
Married Child Priority Scheme (MCPS): Eligible if you are married and you’re applying to a house near your parents’
Third Child Priority Scheme (TCPS): Eligible if you have more than 2 children
Assisted Scheme for Second-Timers: Divorced/ Widowed Parents (ASSIST): If you’re divorced but with children
Tenants’ Priority Scheme (TPS): Eligible if you’re renting an HDB flat, or if you’ve been affected by en bloc (SERS) relocation
Senior Priority Scheme (SPS): Eligible if you are a senior applying for a 2-room flexi flat near your parents’/married child’s home
Next BTO launch is in August 2022
The next launch will take place in August 2022 with an expected 6,300 to 6,800 BTO flats in Ang Mo Kio, Bukit Merah, Choa Chu Kang, Jurong East, Queenstown and Woodlands. Stay tuned for more info!
Next Sale of Balance (SBF) takes places in May 2022
As you might know, Sale of Balance Flats (SBF) is an exercise in which flats leftover from previous HDB BTO launches get sold.
This month’s May SBF exercise will be launched from 27 May, Friday to 2 June, Thursday.
Flats sold through “open booking” are also flats leftover from previous sales launches, but these are a little different—these flats were given up by people who had previously successfully ballotted for them or repurchased by the HDB.
One advantage of SBF and open booking is that there is a stream of flats throughout the year, so you don’t have to wait for a launch. On the downside, you might not be able to choose some of the customisations such as flooring or tiles, depending on who got allocated the flat before you. Still, it’s a good way to try to get your hands on a flat quickly if you’re tired of waiting around for the perfect BTO launch.
Next Open Booking will take place in September 2022
What happens to the leftover units from the Sale of Balance (SBF) launch in May 2022? They will then go to yet another Open Booking sale taking place in September 2022. You may not have the most choices when it comes to Open Booking, but theoretically… you should be able to get your flats ASAP, since the flats listed on HDB’s Open Booking exercise are the leftover of leftovers.
Ready for your first BTO? Here’s how much BTO downpayment you should be prepared to pay.
The post HDB BTO May 2022 Review: Queenstown, Bukit Merah, Toa Payoh, Jurong West, Yishun appeared first on the MoneySmart blog.
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Original article: HDB BTO May 2022 Review: Queenstown, Bukit Merah, Toa Payoh, Jurong West, Yishun.
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