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HDB BTO May 2022 Toa Payoh Review: Foodie Paradise on the City Fringe

·9-min read
HDB BTO May 2022 Toa Payoh Review: Foodie Paradise on the City Fringe
HDB BTO May 2022 Toa Payoh Review: Foodie Paradise on the City Fringe

In the HDB BTO May 2022 launch, a new batch of flats has finally launched in Toa Payoh again. The last time was in 2020 when the mature estate enjoyed launches at four different sites, all of which were heavily oversubscribed.

Named Kim Keat Heights, the HDB BTO May 2022 Toa Payoh launch site is located in the east of Toa Payoh. In this launch, 120 2-room Flexi flats, 100 3-room flats and 165 4-room flats are up for grabs. Due to the limited number of flats and the popularity of the area, expect fierce competition.

PS: want to live in a more centrally-located BTO flat? Consider waiting for the Farrer Park launch, which is slated for release within the next three years. Around 1,660 HDB BTO flats will be built in Farrer Park. The HDB BTO site will be a unique concept as both the sports and recreational facilities will be integrated together. For those who are sports fans, you can definitely look forward to enjoying the amenities!

HDB BTO May 2022 Toa Payoh BTO Map (Kim Keat Heights)

Location of Kim Keat Heights May 2022 Toa Payoh BTO flats, bounded by Lorong 7 and Lorong 6 Toa Payoh, Kim Keat Heights. Source: HDB
Location of Kim Keat Heights May 2022 Toa Payoh BTO flats, bounded by Lorong 7 and Lorong 6 Toa Payoh, Kim Keat Heights. Source: HDB

Want to buy a home in Toa Payoh but don’t want to have to wait for an HDB BTO flat? Browse the latest listings for Toa Payoh resale flats on PropertyGuru.

Kim Keat Heights Toa Payoh BTO Location (HDB BTO May 2022 Launch)

HDB BTO May 2022 Toa Payoh

Kim Keat Heights

Address

Bounded by Lorong 6 Toa Payoh and Lorong 7 Toa Payoh

Nearest MRT

Braddell (North South Line)

Nearest bus interchange

Toa Payoh Bus Interchange

Nearest schools

Pei Chun Public School, Madrasah Al-Arabiah Al-Islamiah, First Toa Payoh Primary School, Beatty Secondary School, Kheng Cheng School, St Andrew’s Secondary School, St Andrew’s Junior College, CHIJ Primary (Toa Payoh), CHIJ Secondary (Toa Payoh), St Joseph’s Institution (International)

Other nearby amenities

Toa Payoh East Community Club, Toa Payoh Central Community Club, Toa Payoh South Community Club, Kim Keat Palm Market & Food Centre, Toa Payoh Lorong 4 Market & Food Centre, Toa Payoh Lorong 5 Food Centre, Toa Payoh Lorong 8 Market & Food Centre, Toa Payoh Polyclinic, Toa Payoh Public Library, Toa Payoh Mall

The site of the HDB BTO May 2022 Toa Payoh launch is bounded by Lorong 6 Toa Payoh and Lorong 7 Toa Payoh. While not at the doorstep of an MRT station, Kim Keat Heights is still a relatively short 12-minute walk from Braddell MRT station.

Toa Payoh is an extremely popular mature estate thanks to its abundance of amenities and proximity to the city centre. From Braddell MRT station, the ride to Raffles Place MRT station in the CBD takes about 19 minutes; no line changes are needed.

In terms of food, residents will be spoilt for choice as the area is home to a huge selection of well-loved eateries. For starters, Kim Keat Heights is located within easy walking distance of numerous hawker centres, including but not limited to Kim Keat Palm Market & Food Centre, Toa Payoh Lorong 4 Food Centre, Toa Payoh Lorong 5 Food Centre and Toa Payoh Lorong 8 Market & Food Centre.

Families with young children will also appreciate how there are numerous schools in the area such as CHIJ Primary (Toa Payoh), CHIJ Secondary (Toa Payoh), and St Andrew’s Secondary School.

However, as 5-room flats are not available in this launch, it might not be suitable for larger households. Still, the 2-room, 3-room and 4-room flats are likely to be popular with households without children and smaller families.

Kim Keat Heights Toa Payoh BTO Price (HDB BTO May 2022 Launch)

Unit type

Kim Keat Heights BTO Price (HDB BTO May 2022)

Previous Toa Payoh BTO Price (HDB BTO Nov 2020)

Previous Toa Payoh BTO Price (HDB BTO Feb 2020)

Median resale flat prices in the area

2-room Flexi

From $162,000

$90,000 to $184,000

3-room

From $289,000

$324,000 to $397,000

$351,000 – $446,000

$309,000

4-room

From $420,000

$466,000 to $598,000

$395,000 – $666,000

$630,900

With a paltry 385 units up for grabs, successfully balloting for a unit in the HDB BTO May 2022 Toa Payoh launch is going to be as tough.

Based on HDB’s resale statistics, in Q1 2022, the median resale price for 3-room flats was $320,000, while that for 4-room flats was $622,500. If these resale prices sound low and too good to be true for a mature estate, it’s because the vast majority of resale flats in Toa Payoh are older flats built in the 1960s to 1980s. Newer resale flats command a significant premium after serving their Minimum Occupation Period (MOP), with a few 4-room resale flats being sold recently for over $900,000.

Budgeting for Your Toa Payoh May 2022 BTO Home Loan

The HDB BTO May 2022 Toa Payoh flats are going to cost you a pretty penny, so it’s imperative to work out how much you can afford before balloting for a Kim Keat Heights flat.

Related article: How Much to Budget for A New Home: A Complete Breakdown of Payments

HDB BTO May 2022 Kim Keat Heights unit type

Price

If you take an HDB loan (at 2.6% p.a., 85% LTV)

If you take a bank loan (at 1.6% p.a., 75% LTV)

2-room Flexi

$162,000

$24,300 downpayment; estimated $625 monthly mortgage repayments

$40,500 downpayment; estimated $492 monthly mortgage repayments

3-room

$289,000

$43,350 downpayment; estimated $1,114 monthly mortgage repayments

$72,250 downpayment; estimated $877 monthly mortgage repayments

4-room

$420,000

$63,000 downpayment; estimated $1,620 monthly mortgage repayments

$105,000 downpayment; estimated $1,275 monthly mortgage repayments

We’ve used the lowest starting price estimates, but depending on your chosen unit, your specific costs might differ. All prices exclude any CPF housing grants.

We’ve used an interest rate of 2.6% and an LTV of 85%, adjusted following the December 2021 property cooling measures, for our HDB loan examples. For our bank loan examples, we’ve gone with a 1.6% interest rate and 75% LTV.

All of the above examples are based on a 25-year loan. If you can afford to pay higher monthly loan instalments, you can of course opt for a shorter loan that can be paid off earlier.

Need a more precise estimate? Use our affordability calculator to work out how much you will need to pay. If you require personalised assistance for financing and home loans, don’t hesitate to get in touch with one of our PropertyGuru Finance mortgage experts.

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Kim Keat Heights Toa Payoh BTO Amenities (HDB BTO May 2022 Launch)

Walking Distance to Braddell MRT Station

The HDB BTO May 2022 Toa Payoh project is located about 12 minutes’ walk from Braddell MRT station. Braddell MRT station is on the North South Line and connects directly to city centre MRT stations like Orchard, Somerset, Raffles Place and City Hall with no line changes needed.

City Fringe Location Offering Quick Access to City Centre

The ride from Braddell MRT station to Raffles Place MRT station in the CBD takes just 19 minutes, enabling residents to get to work in about 35 minute. The 4-stop ride to Orchard MRT station takes only 10 minutes.

Future residents of Kim Keat Heights travelling by car can get to the CBD in under 15 minutes. The duration of the drive to the Orchard shopping belt is just under 10 minutes.

Foodie’s Paradise

Other than location, one of the reasons for Toa Payoh’s enduring popularity is its mind-boggling array of food options. The area has a massive number of hawker centres, of which several are within walking distance of the Kim Keat Heights site.

The area around Toa Payoh Central is also brimming with well-known eateries, including chic restaurants like Chef’s Table and cafes like The Larder.

Near Schools

The May 2022 Toa Payoh BTO site is within walking distance of numerous schools, with Pei Chun Public School and Madrasah Al-Arabiah Al-Islamiah being located right next door. Kim Keat Heights is also less than half an hour’s walk away from CHIJ (Toa Payoh), St Andrew’s School and St Andrew’s Junior College.

Related article: 11 Popular Primary Schools in Singapore and Properties Within 1km of Them

Conclusion: Is Kim Keat Heights (HDB May 2022 Toa Payoh BTO) Worth Balloting For?

If you can afford the premium prices, the HDB BTO May 2022 Kim Keat Heights launch offers the opportunity to live in a vibrant mature estate on the city fringe and enjoy a quick and easy commute to the city centre.

Pros of Kim Keat Heights (May 2022 Toa Payoh HDB BTO)

  • Central location

  • Walking distance to MRT station

  • An abundance of food options

  • Near many schools

Cons of Kim Keat Heights (May 2022 Toa Payoh HDB BTO)

  • Pricey

  • 5-room flats not available

  • Likely to see fierce competition for a limited number of flats

As the HDB BTO May 2022 Toa Payoh launch consists of only 385 flats, units are in very short supply.

The Kim Keat Heights project is likely to be popular with families due to its proximity to numerous schools. Due to the absence of 5-room flats in this launch, expanding households or families with multiple children may turn to the Yishun and Jurong West launches instead. Affluent couples without kids who want to be close to the CBD will also have eyes on the launch.

Not sure if you should ballot for the HDB BTO May 2022 Toa Payoh flats? Read about the other BTO 2022 launches in May below:

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section.

Are you looking to buy a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.

Already found a new home? Let PropertyGuru Finance’s home finance advisors help you with financing it.

This article was written by Joanne Poh. A former real estate lawyer, she writes about property and personal finance and spends her free time compulsively learning languages and roller skating in carparks.

Featured image source: HDB 

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