For those who didn’t manage to successfully ballot for a BTO flat in Kallang/Whampoa at the November 2022 BTO exercise, you’ll be glad to know there’ll be not one, but two BTO sites being launched in the mature estate in February 2023.
This launch will be a relatively large one, with a total of about 1,770 units being released across two Kallang/Whampoa BTO sites. However, expect the competition to be fierce due to their highly-desirable locations.
One mitigating factor that might lower demand for one or both of the BTO sites is that they may fall under the Prime Location Public Housing (PLH) model. HDB has not yet made any indications at the time of writing; more details will be released closer to the February 2023 BTO launch.
Upcoming February 2023 Kallang/Whampoa BTO Map
Want to buy a home in Kallang/Whampoa but don’t want to have to wait for an HDB BTO flat? Browse the latest listings for Kallang/Whampoa resale flats on PropertyGuru.
Kallang/Whampoa BTO Location (HDB BTO February 2023 Launch)
Those who dream of living in a central location may want to try their luck at the February 2023 BTO launch, since there’ll be a bumper crop of about 1,770 units in mature estate Kallang/Whampoa spread out across two sites.
February 2023 BTO Kallang/Whampoa Launch (Jalan Rajah)
HDB BTO Kallang/Whampoa February 2023
Nearest bus interchange
Toa Payoh bus interchange
Bendemeer Secondary School, Hong Wen School, Northlight School
Other nearby amenities
Toa Payoh Swimming Complex, Toa Payoh Sports Hall, Toa Payoh Stadium, SAFRA (Toa Payoh), Zhongshan Mall, Toa Payoh Public Library
The first BTO site (the “Jalan Rajah site”) will consist of about 500 3-room and 4-room flats, and be situated on Jalan Rajah, with the scenic Kallang River lying to the north.
The Jalan Rajah site is the less central of the two, at 14 minutes’ walk from Toa Payoh MRT station. However, its proximity to the highly popular Toa Payoh area as well as its scenic location on the Kallang River could make it highly sought-after. Residents will also enjoy proximity to sporting amenities such as Toa Payoh Swimming Complex, Toa Payoh Sports Hall and Toa Payoh Stadium.
February 2023 BTO Kallang/Whampoa Launch (Race Course Road)
HDB BTO Kallang/Whampoa February 2023
Bordered by Race Course Road, Farrer Park Road and Hampshire Road
Nearest bus interchange
Farrer Park Primary School
Other nearby amenities
Tekka Centre, Little India Arcade, Pek Kio Community Centre, Mustafa Centre, City Square Mall
The second site (the “Race Course Road site”), where about 1,270 units of 2-room Flexi, 3-room and 4-room flats will be built, is bordered by Race Course Road, Farrer Park Road and Hampshire Road.
The Race Course Road site, by contrast, offers unparalleled convenience due to its highly central location right next to Little India MRT station (six-minute walk), 12 minutes’ walk from Farrer Park MRT station and 17 minutes’ walk from Jalan Besar MRT station.
This BTO site is for those who wish to live in the heart of the city, close to amenities like Tekka Centre, Mustafa Centre and City Square Mall.
There is a catch, though. There is a high chance that the Race Course Road site will fall under the PLH model.
Kallang/Whampoa BTO Price (HDB BTO February 2023 Launch)
BTO price (HDB BTO February 2023)
Previous Kallang/Whampoa BTO Price (HDB BTO November 2022)
Previous Kallang/Whampoa BTO Price (HDB BTO February 2022)
Median resale flat prices in the area
$353,000 to $462,000
$488,000 to $675,000
With a total of about 1,770 units up for grabs, there’s a large supply of Kallang/Whampoa flats available in the February 2023 exercise.
However, bear in mind that the competition for the Kallang/Whampoa Feb 2023 flats is likely to be fierce, due to the flats’ location in a highly sought-after mature estate. That said, if one or both sites fall under the PLH, demand might dim.
Based on HDB’s resale statistics, in Q3 2022, the median resale price for homes in the Kallang/Whampoa estate was $390,500 and $778,400 for 3-room and 4-room flats, respectively. Don’t be fooled by the deceptively low prices vis-à-vis recent BTO launches. Most resale flats in the area are older flats whose prices have been depressed as they are reaching the tail end of their lease.
By contrast, newer flats are likely to fetch a premium, especially if they are sold soon after fulfilling their Minimum Occupation Period (MOP). In central areas like Kallang/Whampoa, 4-room or 5-room flats have been able to command resale prices of over $1 million. That said, the effects of the PLH model on resale prices are yet to be seen.
Budgeting for Your Kallang/Whampoa February 2023 BTO Home Loan
The Kallang/Whampoa BTO flats are not going to come cheap. It is thus crucial to plan your finances and be sure of what you can afford before you ballot for a flat.
HDB BTO February 2023 Kallang/Whampoa unit type
If you take an HDB loan (at 2.6% p.a., 80% LTV)
If you take a bank loan (at 3.4% p.a., 75% LTV)
$70,000 downpayment, estimated $1,270 monthly mortgage repayments
$87,500 downpayment, estimated $1,300 monthly mortgage repayments
$110,000 downpayment, estimated $1,996 monthly mortgage repayments
$137,500 downpayment, estimated $2,043 monthly mortgage repayments
We have gone with starting price estimates based on previous BTO launches, but the actual price will vary based on the indicative pricing and the unit you are allocated. All of the above price estimates exclude CPF housing grants.
In accordance with the September 2022 property cooling measures, we have gone with an interest rate of 2.6% and an LTV of 80% for the HDB loan examples and an interest rate of 3.4% and an LTV of 75% for the bank loan examples. At the time of writing (23 November 2022), the lowest interest rate offered is 3.38%.
All of the above examples have been fleshed out on the basis of a 25-year loan. However, depending on your ability to take on higher monthly instalments, you might prefer to opt for a shorter loan tenure which will enable you to repay the loan sooner.
To obtain an estimate tailored to the specifics of your loan, play around with PropertyGuru’s affordability calculator. You can also speak to PropertyGuru Finance mortgage experts for personalised advice on home loans and financing.
Kallang/Whampoa BTO Amenities (HDB BTO February 2023 Launch)
Within Walking Distance of MRT Stations Connecting Directly to the City Centre
The Jalan Rajah upcoming BTO site is located within walking distance of Toa Payoh MRT station, which connects directly to Orchard and Raffles Place MRT stations via the North-South Line.
Meanwhile, the Race Course Road BTO site is within walking distance of three MRT stations – Little India, Farrer Park and Jalan Besar – offering future residents unparalleled connectivity.
Attractive Central or City Fringe Locations
Both BTO sites occupy attractive central or city fringe locations. The Jalan Rajah site enjoys easy access to popular areas Toa Payoh, Novena and Balestier, while the Race Course Road site finds itself in the heart of Little India, a stone’s throw from Bugis, Orchard and Jalan Besar.
Wide Range of Recreational and Shopping Options
The Jalan Rajah site has at its fingertips a wide range of sporting facilities like the Toa Payoh Swimming Complex, Toa Payoh Sports Hall and Toa Payoh Stadium.
Meanwhile, the Race Course Road site finds itself in the heart of the city, with everything from the 24-hour shopper’s paradise Mustafa Centre to the bustling Bugis Street Market located within walking distance.
Plenty of Food Options
The Jalan Rajah site is located within walking distance of the bustling Toa Payoh town centre as well as Balestier Road, both renowned for their wealth of popular eateries.
The Race Course Road site enjoys easy access to some of Singapore’s best Indian eateries in Little India, as well as varied culinary options in Orchard and Bugis. From chic cafes to hearty local fare, foodies will be spoilt for choice.
Conclusion: Is the February 2023 Kallang/Whampoa BTO Worth Balloting For?
Although the two upcoming Kallang/Whampoa BTO sites are very different, both offer in their own way an excellent combination of connectivity and proximity to food and recreational options. They are thus ideal for those who are willing to pay more for a good location and a rich selection of amenities.
Pros of the Feb 2023 BTO Kallang/Whampoa Launch
Walking distance to MRT stations
A plethora of food options
Recreational and food options galore
Cons of the Feb 2023 BTO Kallang/Whampoa Launch
Could fall under the PLH model
5-room flats not available
Likely to see fierce competition
The Jalan Rajah launch consists of about 500 flats, while the Race Course Road launch will see about 1,270 units being released.
The large supply and the fact that demand might be dampened if one or both projects fall under the PLH model and/or have longer completion times, relative to the other February 2023 BTO launches.
However, as there are no 5-room flats in this launch, larger households or those who intend to expand their families may have to opt for the Tengah Feb 2023 BTO launch instead.
Applying for February 2023 HDB BTO Flats
Not sure if you should ballot for the HDB BTO February 2023 Kallang/Whampoa flats? Read about the other BTO 2023 launches in February below:
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