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HDB BTO May 2023 Launch: Locations, Expected Application Rates, Prices, and More

hdb-bto-may-2023-application-rates-prices
hdb-bto-may-2023-application-rates-prices

Nothing caught your fancy in the HDB Feb 2023 Built-To-Order (BTO) launch? Or maybe something did, but your application wasn’t successful? Good news: your next chance to apply for a BTO flat is coming up!

For the May 2023 HDB BTO exercise, you can expect projects in Bedok, Kallang/Whampoa, Serangoon, and Tengah. They each have their own pros and cons, and we suggest you learn as much as possible about each BTO project before you apply. To help you out, we’ve reviewed the May 2023 BTO launch—here’s a look at the May 2023 BTO projects’ locations, expected prices, expected application rates, and more.

PSA: Your deadline for the May 2023 BTO exercise is 5 Jun 2023, 11:59pm.

Contents:

  1. Overview of BTOs in May 2023 launch

  2. What are the May 2023 BTO prices?

  3. What are the May 2023 BTO application rates?

  4. What are the May 2023 BTO flats’ resale values?

  5. Which May 2023 BTO projects will be Prime Location Public Housing (PLH)?

  6. There are 2 projects under Tengah. Can I apply for the specific project I’m interested in?

  7. Which May 2023 BTO flats are the largest?

  8. I don’t like anything I see in the May 2023 BTO. When’s the next BTO launch?

 

1. Overview of BTOs in May 2023 launch 

This BTO season in May 2023, we’re looking at a total of 5 projects: 1 in Bedok, 1 in Kallang/Whampoa, 1 in Serangoon, and 2 in Tengah. Let’s take a look at their flat types, nearby amenities, and nearest MRT/LRT stations.

Disclaimer: All distance, walking time, and driving time estimations were obtained using Google Maps and are only rough estimates.

Bedok South Blossoms, May 2023 BTO: Flat types, nearby amenities, nearest MRT stations

bedok-may-hdb-bto-2023
Source: HDB

The Bedok May 2023 BTO project is called Bedok South Blossoms, and will have 1,630 units across 2-room Flexi, 3-room, 4-room, 5-room, and 3Gen flats. It’s about a 10 minute walk from Tanah Merah MRT Station, and has a healthy scattering of primary and secondary schools nearby. By way of amenities, The Marketplace @ 58 hawker centre is just a 10 minute walk away. However, the Bedok ActiveSG Stadium and Bedok Mall are further, and you probably don’t want to try walking over on foot.

Overall, Bedok South Blossoms is a good option this May 2023 round of BTO for a range of families looking for a new flat in a mature estate. The numerous schools nearby also make it a great option for those intending to start a family. The only downside is that some amenities like a mall aren’t considered walkable to everyone. Here’s a summary: 

Project name and town

Bedok South Blossoms (Bedok)

Mature estate?

Mature estate

Flat types

2-room Flexi, 3-room, 4-room, 5-room, 3Gen

Number of units

1,630

Location/street name 

Bedok South Avenue 

Nearest MRT/LRT

Tanah Merah MRT Station (850m, 10 min walk), Bedok MRT (2.1km, 4 min by car)

Nearest mall

Bedok Mall (2.4km, 5 min by car)

Nearest hawker centre / market

The Marketplace @ 58 (800m, 10 min walk)

Nearest clinic/hospital

Keystone Clinic & Surgery (Tanah Merah), East Coast Medical Centre, New Town Clinic (all about 800m, 10 min walk away)

Nearest school(s)

Bedok View Secondary School (450m, 5 min walk), Katong School (Special Education) (800m, 10 min walk), Bedok Green Primary School (1.1km, 13 min walk), Anglican High School (1.2km, 16 min walk)

Nearest sports facility

Bedok ActiveSG Stadium (1.6km, 20 min walk)

 

Farrer Park Arena, Kallang/Whampoa May 2023 BTO: Flat types, nearby amenities, nearest MRT stations

kallang-whampoa-may-hdb-bto-2023
Source: HDB

The Kallang/Whampoa May 2023 BTO project is markedly smaller than the Bedok one, at only 570 units across 3-room and 4-room flats. Called Farrer Park Arena, the project sits between two centrally located MRT stations, Little India and Farrer Park, each about an 8-10 minute walk away.

If you’re a foodie, you’ll be spoilt for choice with Pek Kio Market & Food Centre (900m, 11 min walk), Berseh Food Centre (2.1km, 8 min by car) and Golden Mile Food Centre (3.1km, 9 min by car) in the vicinity, though you’ll likely need to drive to get to the latter 2. For fitness fanatics, HDB has indicated a planned sports complex beside the BTO site. Otherwise, there’s also the Jalan Besar Stadium and Swimming Complex about 8 minutes away.

Project name and town

Farrer Park Arena (Kallang/Whampoa)

Mature estate?

Mature estate

Flat types

3-room, 4-room

Number of units

570

Location/street name 

Farrer Park Road / Dorset Road

Nearest MRT/LRT

Little India MRT Station (650m, 8 min walk), Farrer Park MRT Station (1.1km, 14 min walk), Jalan Besar MRT Station (2.2km, 7 min by car), Bendemeer MRT Station (3.1km, 9 min by car)

Nearest mall/ shopping centre

City Square Mall (1.8km, 6 min by car), Velocity (2.7km, 8 min by car), Mustafa Centre (1.7km, 6 min by car)

Nearest hawker centre / market

Pek Kio Market & Food Centre (900m, 11 min walk), Berseh Food Centre (2.1km, 8 min by car), Golden Mile Food Centre (3.1km, 9 min by car)

Nearest clinic/hospital

KK Women’s and Children’s Hospital (400m, 5 min walk), Caring Community Clinic (1.1km, 4 min drive), Tekka Clinic-Surgery (1.3km, 5 min drive), Apollo Medical Centre (1.1km, 4 min drive), Shifa Clinic and Surgery (1.2km, 4 min drive)

Nearest school(s)

Farrer Park Primary School (750m, 9 min walk), St Joseph’s Institution Junior (1km, 12 min walk)

Nearest sports facility

Jalan Besar Stadium and Swimming Complex (2.4km, 8 min drive), upcoming sports complex expected right beside the BTO site

 

Serangoon North Vista, May 2023 BTO: Flat types, nearby amenities, nearest MRT stations

serangoon-may-hdb-bto-2023
Source: HDB

Amongst the projects in the May 2023 BTO round, the Serangoon BTO has the smallest offering at just 330 units across 4-room and 5-room flats. If you’re looking for close proximity to amenities, this one may fall a little short. It’s a 15 minute walk from the upcoming Serangoon North MRT Station on the Cross Island Line, a 13-14 minute walk from Serangoon Market/Food Centre and Chomp Chomp Food Centre, and over 2km away from the nearest shopping centre. Plus, until the Serangoon North MRT Station is complete in 2030, you’ll have to walk/cycle/bus over to Kovan MRT (2.2km away) or Serangoon MRT (2km away). If you aren’t prepared for the extra travel time or inconvenience, see if you can afford a car. Otherwise, you may want to choose another BTO this May 2023.

Project name and town

Serangoon North Vista (Serangoon)

Mature estate?

Mature

Flat types

4-room, 5-room

Number of units

330

Location/street name 

Yio Chu Kang Road

Nearest MRT/LRT

Serangoon North MRT Station (under construction and expected in 2030; 1.3km, 15 min walk)

Nearest mall/ shopping centre

myVillage (2.2km, 6 min drive), ICB Shopping Centre (2.2km, 6 min drive), Upper Serangoon Shopping Centre (2.2km, 6 min drive), NEX (3.1km, 9 min drive)

Nearest hawker centre / market

Serangoon Market/Food Centre (1.1km, 13 min walk), Chomp Chomp Food Centre (1.2km, 14 min walk)

Nearest clinic/hospital

S. Lee Clinic (1.6km, 4 min drive), Pinnacle Family Clinic (2.1km, 5 min drive)

Nearest school(s)

Rosyth School (1.7km, 5 min drive), Serangoon Garden Secondary School (1.5km, 4 min drive), Lycée Français de Singapour (1.6km, 4 min drive)

Nearest sports facility

Serangoon Swimming Complex (2.2km, 6 min drive), Serangoon Stadium (1.8km, 5 min drive)

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Tengah May 2023 BTO: Flat types, nearby amenities, nearest MRT stations

There are 2 BTO projects in Tengah this May 2023. One is located at Plantation Close (970 units), and the other at Tengah Park Avenue (1,980 units), making for a whopping 2,950 units across 2-room Flexi, 3-room, 4-room, and 5-room flats.

Tengah BTO May 2023 (Plantation Verge)

tengah-plantation-close-may-hdb-bto-2023
Source: HDB

Between the 2 Tengah projects this May 2023 BTO, we know more about the Plantation Verge Tengah project. More details about its nearby features have been confirmed, and it sits closer to areas that have already been developed—Bukit Batok and Jurong East. For example, we know it’s decently close to Le Quest Shopping Mall (2km away, 5 min by car or 20+ minutes on foot) and Bukit Batok West Shopping Centre (3km away, 7 min by car). However, unless more plans to develop this part of Tengah are announced to include food and fitness amenities, the nearest hawker centres and sports facilities are a 10+ minute drive away. On the plus side, the BTO site is fairly near Tengah Park MRT (JE2), which is set to open in 2028.

Tengah BTO May 2023 (Parc Meadow @ Tengah)

tengah-park-avenue-may-hdb-bto-2023
Source: HDB

The other Tengah project in the May 2023 BTO exercise is called Parc Meadow @ Tengah, and is located along Tengah Park Avenue. Its claim to fame is probably its location—it’s just next to Anglo-Chinese School (Primary), which is set to move to Tengah from Barker Road and take in girls from 2030. The news caused an uproar when it was announced in Feb 2023, but even if you couldn’t care less about the ACS heritage and a “branded” education, the relocation could mean good news for your Tengah BTO property prices in the future.

Aside from the ACS Primary move, a lot about this BTO project is still not set in stone—HDB uses the word “proposed” a lot on the map. For example, we can expect a proposed polyclinic in the area and a proposed sports facility further ways off, but we don’t know more details. Something positive that we do know is that the project will be decently close to the upcoming Tengah MRT Station (JS3) expected in 2027, looking to be about 700m or so from the MRT station. 

Town

Tengah

Mature estate?

Non-mature

Flat types

2-room Flexi, 3-room, 4-room, 5-room

Number of units

970

1,980

Location/street name 

Plantation Verge

Parc Meadow @ Tengah

Nearest MRT/LRT

Tengah Park MRT Station, JE2, Jurong Region Line (under construction)

Tengah MRT Station, JS3, Jurong Region Line (under construction)

Nearest mall/ shopping centre

Le Quest Shopping Mall (2km, 5 min drive), Bukit Batok West Shopping Centre (3km, 7 min by car)

TBC

Nearest hawker centre / market

Yuhua Village Market and Food Centre, Yuhua Market & Hawker Centre (4km, 10 min drive)

TBC

Nearest clinic/hospital

OneCare Clinic Bukit Batok West, Jurong Polyclinic, Island Family Clinic (Bukit Batok), Healthway Medical (Bukit Batok West)

Proposed polyclinic integrated in neighbourhood centre

Nearest school(s)

Pioneer Primary School, Dulwich College, Jurong Primary School, Jurongville Secondary School, Millennia Institute, Bukit Batok Secondary School

Anglo-Chinese School (Primary), Eden School (Campus 2), Dunearn Secondary School

Nearest sports facility

Jurong East Sport Centre (4.6km, 11 min drive)

Proposed Sports and Recreation facility

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2. What are the May 2023 BTO prices?

HDB won’t release the prices for the May 2023 BTO units until the actual BTO launch in May 2023. However, from now until then, we can estimate the price ranges, and this can help you plan your savings and feasible home loan amounts.

The estimated prices for 3-room, 4-room and 5-room flats below are sourced from SRX, which considers past launch prices, nearby resale prices, property age, and location. Other flat prices are based on launch prices of past BTO projects nearby of the same flat type; do note that as there are fewer such flats, data is more limited.

Bedok South Blossoms (Bedok) May 2023 BTO Prices (Expected)

Flat type

May 2023 BTO: Expected prices for Bedok South Blossoms (Bedok)

2-room Flexi*

$130,000 – $216,000

3-room

$330,000 – $400,000

4-room

$450,000 – $550,000

5-room

$590,000 – $680,000

*2-room Flexi rates estimated from past BTO sales launches: $145,000 to $216,000 (Tampines GreenSpring, Nov 2019), $137,000 to $198,000 (Costa Grove, Aug 2020), $130,000 to $192,000 (Tampines GreenEmerald, Nov 2020), $142,000 to $196,000 (Tampines GreenQuartz, Aug 2021).

 

Farrer Park Arena (Kallang/Whampoa) May 2023 BTO Prices (Expected)

Flat type

May 2023 BTO: Expected prices for Farrer Park Arena (Kallang/Whampoa)

3-room

$360,000 – $460,000

4-room

$490,000 – $640,000

 

Serangoon North Vista (Serangoon) May 2023 BTO Prices (Expected)

Flat type

May 2023 BTO: Expected prices for Serangoon North Vista (Serangoon)

4-room

$350,000 – $430,000

5-room

$470,000 – $560,000

 

Tengah May 2023 BTO Prices (Expected)

Flat type

May 2023 BTO: Expected prices for Plantation Verge and Parc Meadow @ Tengah

2-room Flexi*

$100,000 – $190,000

3-room

$210,000 – $280,000

4-room

$310,000 – $415,000

5-room

$420,000 – $550,000

*2-room Flexi rates estimated from past BTO sales launches in Tengah from May 2019 to Feb 2023.

The long and short of the expected prices for the May 2023 BTO sales launch is this: Everything is going to be relatively expensive except for Tengah. Bedok, Kallang/Whampoa, and Serangoon are all mature estates and popular home locations. Expect the Kallang/Whampoa project in particular to cost you more—we suspect it’ll be under the Prime Location Public Housing model.


ALSO READ: Buying a HDB BTO Flat: A Step-By-Step Guide


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3. May 2023 BTO application rates, and what to apply for if you’ve been unable to get a BTO

With past application rates of projects in the same area, we can take a guess at how popular the May 2023 BTO projects are going to be—and how difficult it’ll be to get them.

Unfortunately, we can’t reliably estimate the application rates for the Bedok and Serangoon projects; there’ve been no BTOs in these areas in the past year. In fact, we haven’t seen a BTO in Bedok in over 5 years! If anything, this probably means that Bedok and Serangoon are going to be very oversubscribed this May 2023.

The other BTO projects have had recent BTO launches we can reference. Here’s a look at past application rates for other BTO projects in Kallang/Whampoa and Tengah:

Farrer Park Arena (Kallang/Whampoa) May 2023 BTO: Expected application rates

Past BTO projects in Kallang/Whampoa, 3-room flats

Application rates for families

BTO project

No. of units

No. of applicants

First-timers

Second-timers

Kallang Horizon

72

550

3.1

111.3

King George’s Heights

104

661

2.8

76.0

 

Past BTO projects in Kallang/Whampoa, 4-room flats

Application rates for families

BTO project

No. of units

No. of applicants

First-timers

Second-timers

Kallang Horizon

405

4561

7.1

92.3

King George’s Heights

294

5140

10.9

149.3

As usual, 4-room flats are more popular than 3-room flats. It looks like first-timer families can expect that there’ll be 7 to 11 applicants vying for each 4-room unit, making your odds 1 in 7 (14%) or 1 in 11 (9%). If you really love the Kallang/Whampoa location, so much so that you could even compromise on the size of your flat, apply for 3-room flats to increase your chances.

 

Tengah May 2023 BTO: Expected application rates

Application rates of past BTO projects in Tengah: 2-room flexi flats

BTO project

Seniors

First-timer families

First-timer singles

Second-timer families

Garden Waterfront I @ Tengah

1.2

0.1

3.4

0.5

Parc Flora @ Tengah

3.1

12.0

NA

NA

 

Application rates of past BTO projects in Tengah: 3-room flats

Application rates for families

BTO project

No. of units

No. of applicants

First-timers

Second-timers

Garden Waterfront I @ Tengah

89

326

1.5

16.2

Parc Flora @ Tengah

85

362

2.5

8.5

 

Application rates of past BTO projects in Tengah: 4-room flats

Application rates for families

BTO project

No. of units

No. of applicants

First-timers

Second-timers

Garden Waterfront I / II @ Tengah

740

1933

1.9

16.2

Parc Flora @ Tengah / Plantation Creek

570

1813

2.7

5.8

 

Application rates of past BTO projects in Tengah: 5-room flats

Application rates for families

BTO project

No. of units

No. of applicants

First-timers

Second-timers

Garden Waterfront I / II @ Tengah

670

2849

2.6

35.2

Parc Flora @ Tengah / Plantation Creek

517

2406

3.7

10.1

One thing you’re immediately going to notice is that Tengah flats have generally been less popular than other flats. Compared to a mature, central location like Kallang/Whampoa, the difference is stark as night and day—at least so far. Who knows about this round of BTO, especially with ACS Primary moving to Tengah? 

While we may see a slight increase in demand, it probably won’t be hugely significant. Compared to the other estates in the May 2023 exercise, Tengah is still going to be the least in demand and thus have the highest odds of you getting. So if you just want a shiny new BTO flat and don’t really care about where it’s located, we suggest you apply for Tengah.

Sure, Tengah might look pretty rough around the edges know, but don’t forget that even the now-bustling Punggol was once a Tengah too, say 15 years or so ago. With its eco-friendly living concepts, Tengah might just be a diamond in the rough. Plus, how often do you really need to visit town and central areas of Singapore anyway? Tengah might seem ulu, but the truth is, your day-to-day living needs can be taken care of within Tengah itself—unless you need to work from office in town. This is the whole concept of Singapore’s urban planning—satellite towns in which you’ve got everything you need.

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4. What are the May 2023 BTO flats’ resale values?

These days, many buy a BTO flat with the intention to resell your flat later on. Whether you want to upgrade to a condo or just want to move to a different location, you should start considering resale value now before you even apply for the flat. Yes, that’s on top of the other factors we’ve discussed above—adulting is hard!

Here are the median resale prices based on date from Q4 2022: 

Median resale price (Q4 2022)

Town

3-room

4-room

5-room

Bedok

$360,000

$480,000

$650,000

Kallang/Whampoa

$380,000

$788,000

$800,000

Serangoon

$386,500

$539,000

NA

Source: HDB resale statistics for Q4 2022

As a recap, here are the prices we can expect for the May 2023 exercise for these towns:

Expected May 2023 BTO launch prices

Town

3-room

4-room

5-room

Bedok

$330,000 – $400,000

$450,000 – $550,000

$590,000 – $680,000

Kallang/Whampoa

$360,000 – $460,000

$490,000 – $640,000

NA

Serangoon

NA

$350,000 – $430,000

$470,000 – $560,000

As far as profits go, what stands out from the numbers above is the 4-room flat type. The prices for these flats seem to generally appreciate more so than that for 3-room or 5-room flats. For example, while the expected price for a 4-room flat in Kallang/Whampoa is $490,000 – $640,000, the median resale price is $788,000. That’s a 23.1% to 60.8% profit! So if you know reselling your flat is on the table, you might want to consider a 4-room flat.

You might notice that some of these launch prices are actually higher than the median resale price for the same flat type in the same town. Don’t panic! This doesn’t mean that you’ll make zero or even negative profit from reselling your flat. The resale prices provided by HDB are median figures, not the max. As long as you choose the right time to sell your flat, you should be able to make decent gains from selling your BTO flat down the road. 

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5. Which May 2023 BTO projects are Prime Location Public Housing (PLH)?

Surprise surprise, the Kallang/Whampoa May 2023 BTO project dubbed Farrer Park Arena is under the Prime Location Public Housing (PLH) model. This checks out—it has a central location in the Little India/Farrer Park area, and the Kallang/Whampoa BTO launch in the Nov 2022 BTO exercise was also under the PLH model. When it comes to HDB BTO flats, the past almost always repeats itself.

You might be wondering, so what if it’s under the PLH model? What does a flat being under the PLH model mean for me? Here are some considerations before you apply for the Farrer Park Arena (Kallang/Whampoa) May 2023 BTO:

  • PLH model flats will cost more. This comes as no surprise anyway, with such a central location.

  • Want to live with your parents and rent out your prime property? You can’t—at least not fully. For PLH model flats, you can only rent out spare bedrooms, but not the whole flat.

  • Your minimum occupancy period (MOP) is longer. If you buy a PLH flat, you must occupy it for at least 10 years before you can sell it or invest in a private residential property.

  • Oh and speaking of reselling it, if you do, be prepared to return a percentage of the flat’s resale price to HDB. It isn’t a choice, it’s a must.

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6. There are 2 projects under Tengah. Can I apply for the specific project I’m interested in?

No! We’ve said it once, and we’re gonna say it again: You can only submit 1 application for 1 town and 1 flat type during the sales launch. We aren’t making this up—it’s a direct quote from HDB’s Sales Launch FAQs, Q6.

Say you apply for a 4-room flat in Tengah, with your heart set on the Plantation Verge project at Plantation Close. You don’t want the Parc Meadow @ Tengah project located at Tengah Park Avenue because you know the ACS Primary site is going to be right next to it. You decidedly do not fancy the not-so-distant shrieks of screaming kids to soundtrack your work from home days.

Now let’s say you get a queue number, but the Plantation Verge project you wanted is fully booked by those with queue numbers before yours. This means your only choice to book a unit is to get a BTO flat at Parc Meadow @ Tengah.

We know what you’re thinking: can’t I just not book a flat if I don’t like the units? Well, you could, but you might be shooting yourself in the foot the next time you apply for a BTO. Find out why here.

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7. Which May 2023 BTO flats are the largest?

Flat sizes are running big this May 2023 exercise—all but the Farrer Park Arena (Kallang/Whampoa) BTO project have 5-room flats available. So if you’re looking for the largest BTO spaces you can get, you’ve got a healthy range of options for this May 2023 round of BTO.

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8. I don’t like anything I see in the May 2023 BTO. When’s the next BTO launch?

HDB has announced the next BTO launch will be in Aug 2023, and include 5,200 to 6,200 units in the following towns:

  • Choa Chu Kang (2-room Flexi/ 3-/ 4-/ 5-room/ 3Gen)

  • Tengah (2-room Flexi/ 3-/ 4-/ 5-room)

  • Bukit Merah (2-room Flexi/ 3-/ 4-room)

  • Kallang Whampoa (2-room Flexi/ 3-/ 4-room)

  • Queenstown (3-/ 4-room)

We’ll cover locations, expected prices, application rates and more, so watch this space!

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Know someone considering a May 2023 BTO? Share this article with them to help them prepare!

The post HDB BTO May 2023 Launch: Locations, Expected Application Rates, Prices, and More appeared first on the MoneySmart blog.

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