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February 2023 BTO Kallang/Whampoa Review: Two Sites in Attractive Central or City Fringe Locations
Note: The February 2023 BTO launches have been released. Applications close on 6 March 2023, 11.59pm.
To increase the efficiency of BTO flat allocation, Mr Desmond Lee, Minister of National Development, announced updated BTO balloting processes on 2 March 2023.
After August 2023, first-timer BTO applicants who receive a BTO ballot but don’t choose a flat will be classified as second-timers for one year. They will have to wait a year before making another BTO application if, after their second BTO application, they are still unable to decide then.
Keep that in mind without a doubt while you complete your BTO application throughout the current BTO season. In the HDB BTO February 2023 launch, two new batches of flats have been launched in Kallang/Whampoa – Rajah Summit and Farrer Park Fields. The last time a BTO launch occurred in Kallang/Whampoa was in November 2022.
The Rajah Summit Kallang/Whampoa February 2023 BTO site is bounded by Jalan Rajah and houses 510 units of 3-room and 4-room flats. Farrer Park Fields Kallang/Whampoa Feb 2023 BTO site is bounded by Race Course Road and houses 1,274 units of 2-room Flexi, 3-room, and 4-room flats. Farrer Park Fields has been confirmed to fall under the Prime Location Public Housing (PLH) model.
Read to find out more!
Rajah Summit February 2023 BTOP Kallang/Whampoa Map
Rajah Summit Kallang/Whampoa BTO Location (HDB BTO Feb 2023) Launch
Name of the BTO 2023 Feb Kallang/Whampoa Launch | Rajah Summit |
Address | Bounded by Jalan Rajah |
Nearest MRT station | Toa Payoh MRT station |
Nearest bus interchange | Toa Payoh bus interchange |
Nearest schools | Hong Wen School, Bendemeer Secondary School, and St. Joseph’s Institution Junior |
Nearby amenities | Balestier Plaza, Shaw Plaza, Zhongshan Mall, Tekka Centre, Berseh Food Centre, City Square Mall, Centrium Mall, Mustafa Centre, Toa Payoh Town Park, Whampoa Park Connector, Whampoa Community Club, SAFRA (Toa Payoh), Toa Payoh Swimming Complex, Sports Hall, and Stadium, Farrer Park Sports Centre (upcoming) |
The first BTO February 2023 site, Rajah Summit, is bounded by Jalan Rajah, Kallang River, the PIE, and CTE. Rajah Summit will consist of 510 units of 3-room and 4-room flats located a walking distance from Toa Payoh MRT station.
Farrer Park Fields Feb 2023 Kallang/Whampoa BTO Map
Want to buy a house 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.
Farrer Park Fields Kallang/Whampoa BTO Location (HDB BTO Feb 2023) Launch
Name of the BTO 2023 Feb Kallang/Whampoa Launch | Farrer Park Fields |
Address | Bounded by Race Course Road, Hampshire Road, and Farrer Park Road |
Nearest MRT station | Little India, Farrer Park, Rochor, and Jalan Besar MRT stations |
Nearest bus interchange | – |
Nearest schools | Farrer Park Primary School, Hong Wen School, Bendemeer Secondary School, and St. Joseph’s Institution Junior |
Other nearby amenities | Tekka Centre, City Square Mall, Centrium Square, Mustafa Centre, Berseh Food Centre, Balestier Plaza, Shaw Plaza, Zhongshan Mall, Pek Kio Community Centre, Kallang Community Club, Jalan Besar Stadium, Rochor Canal, Farrer Park Sports Centre (upcoming) |
The second BTO Kallang/Whampoa site, Farrer Park Fields, is bounded by Race Course Road, Hampshire Road, and Farrer Park Road. Farrer Park Fields will consist of 1,274 2-room Flexi (Type 1), 2-room Flexi (Type 2), 3-room, and 4-room flats. This site falls under the PLH model.
Both Kallang/Whampoa BTO Feb 2023 sites enjoy good locations in a popular mature town with lots of well-loved amenities. They are also near numerous sports facilities and natural parks, as well as schools like Hong Wen School, Bendemeer Secondary School, and St. Joseph’s Institution Junior.
Kallang/Whampoa BTO Price (HDB BTO February 2023 Launch)
Flat types | Rajah Summit Kallang/Whampoa BTO Price (HDB BTO February 2023) | Farrer Park Fields Kallang/Whampoa BTO Price (HDB BTO February 2023) | Previous Kallang/Whampoa BTO Price (HDB BTO November 2022) | Previous Kallang/Whampoa BTO Price (HDB BTO November 2022) | Median resale flat prices in the area |
2-room Flexi | – | From $185,000 | – | – | – |
3-room | From $326,000 | From $356,000 | From $335,000 | $353,000 to $462,000 | $390,000 |
4-room | From $459,000 | From $484,000 | From $509,000 | $488,000 to $675,000 | $778,400 |
With a total of about 1,784 units up for grabs, there is an abundant supply for those hoping to secure a flat in Kallang/Whampoa. But we expect competition to be fierce, as we predict there will be strong interest in the Farrer Park Fields Kallang/Whampoa Feb 2023 BTO launch.
Based on HDB’s resale statistics, in Q4 2022, the median resale price for homes in the Kallang/Whampoa estate was $380,000 and $778,000 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 HDB BTO 2023 Home Loan
The Kallang/Whampoa February 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.
Kallang/Whampoa February BTO flat type | Price | 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) |
2-room Flexi | $185,000 | $37,000 down payment, estimated $671 monthly mortgage repayments | $46,250 down payment, estimated $687 monthly mortgage repayments |
3-room | $326,000 | $65,200 down payment, estimated $1,183 monthly mortgage repayments | $81,500 down payment, estimated $1,211 monthly mortgage repayments |
4-room | $459,000 | $91,800 down payment, estimated $1,666 monthly mortgage repayments | $114,750 down payment, estimated $1,705 monthly mortgage repayments |
In the table above, we have used the lowest starting price estimates, but your actual price will vary depending on the unit you select. All prices stated here exclude CPF housing grants.
In accordance with the September 2022 property cooling measures, we have gone with an interest rate of 2.6% and a Loan-to-Value (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 (28 February 2023), the lowest interest rate offered is 3.75%.
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)
Walking Distance to MRT Stations
Both HDB BTO Kallang/Whampoa 2023 projects are located within walking distance of MRT stations, with the Farrer Park Fields site being much more accessible.
The Rajah Summit site is within walking distance to Toa Payoh MRT station, while the Farrer Park Fields site is within walking distance to Little India, Farrer Park, Rochor, and Jalan Besar MRT stations.
Central and City Fringe Location With Good Connections to the City Centre
Both HDB BTO Feb 2023 sites occupy attractive central or city fringe locations. The Rajah Summit site enjoys easy access to popular areas Toa Payoh, Novena, and Balestier, while the Farrer Park Fields 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 Rajah Summit BTO 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 Farrer Park Fields BTO 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 Rajah Summit Kallang/Whampoa Feb 2023 site is within walking distance of the bustling Toa Payoh town centre and Balestier Road, both renowned for their wealth of popular eateries.
The Farrer Park Fields Kallang/Whampoa Feb 2023 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: Are the February 2023 Kallang/Whampoa HDB BTO launches Worth Balloting For?
Although the two Kallang/Whampoa BTO sites are very different, both offer in their 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 Kallang/Whampoa HDB BTO February 2023 Launch
Central location
Walking distance to MRT stations
A plethora of food options
Recreational and food options galore
Cons of Kallang/Whampoa HDB BTO February 2023 Launch
Pricey
The Farrer Fields Park site is under the PLH model
5-room flats not available
Likely to see fierce competition
Long waiting times
The Rajah Summit site will consist of 510 units, with an estimated waiting time of 58 months (i.e. five years and 10 months), while Farrer Park Fields will consist of 1,274 units, wait an estimated waiting time of 53 months (i.e. five years and five months).
As there are also no 5-room flats in this launch, larger households or those who intend to expand their families or move into their BTO flats sooner may have to opt for the February 2023 BTO Tengah launch instead.
Applying for February 2023 HDB BTO Flats
Not sure if you should ballot for the Kallang/Whampoa BTO Feb 2023 flats? Read about the other BTO Feb 2023 launches below:
February 2023 BTO Review: Jurong West, Kallang/Whampoa, Queenstown, Tengah
February 2023 BTO Queenstown Review: City Fringe Location With Many Choice Schools Nearby
February 2023 BTO Tengah Review: Affordable Flats in New Housing Estate
February 2023 BTO Jurong West Review: Affordable Flats Near NTU
How Do I Register for BTO?
Not sure how to apply for a BTO flat? Watch our video on BTO application in Singapore.
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