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HDB BTO November 2022 Queenstown Review: Attractive Mature Estate with Well-Loved Amenities
Note: The November 2022 BTO launches have been released. Applications close on 1 December 2022, 11.59pm.
In the November 2022 BTO launch, flats at three separate launch sites in Queenstown are up for grabs, totalling 3,317 units.
Two of the Queenstown BTO 2022 sites – Ulu Pandan Banks and Ghim Moh Natura – have been confirmed to fall under the Prime Location Public Housing (PLH) model. The third Queenstown BTO 2022 site – Queensway Canopy – is further away from MRT stations and amenities, and will not fall under the PLH model.
Read on to find out more!
HDB Queenstown BTO Nov 2022 Map
Want to buy a home in Queenstown but don’t want to have to wait for an HDB BTO flat? Browse the latest listings for Queenstown HDB resale flats for sale on PropertyGuru.
HDB BTO Queenstown 2022 Location
HDB Queenstown BTO Nov 2022 | Ulu Pandan Banks / Queensway Canopy / Ghim Moh Natura |
Address | Bounded by Commonwealth Avenue West, Ghim Moh Link and the Ulu Pandan Park Connector / Bounded by Queensway, Queen’s Crescent, and the Rail Corridor / Bounded by Ghim Moh Road, Ghim Moh Close, Commonwealth Avenue West, and the Rail Corridor |
Nearest MRT | Dover / Buona Vista / Queenstown |
Nearest bus interchange | – |
Nearest schools | School of Science & Technology, Singapore Polytechnic, New Town Secondary School, Dover Court Preparatory School, ACS (International), ACS (Independent), Anglo-Chinese Junior College, Fairfield Methodist School (Primary and Secondary), United World College of SEA, New Town Primary School, Queensway Secondary School |
Other nearby amenities | Ulu Pandan Community Club, Buona Vista Community Club, The Star Vista, Holland Village, Anchorpoint Shopping Centre, Queensway Shopping Centre, Alexandra Hospital, Alexandra Village Food Centre, IKEA Alexandra |
The first BTO Queenstown 2022 site, Ulu Pandan Banks, is bounded by Commonwealth Avenue West, Ghim Moh Link and the Ulu Pandan Park Connector. Ulu Pandan Banks will consist of 1,330 units of 3-room and 4-room flats located right across the road from Dover MRT station. This site falls under the PLH model.
The second BTO Queenstown 2022 site, Queensway Canopy, is bounded by Queensway, Queen’s Crescent, and the Rail Corridor. The site is about 13 minutes’ walk from Queenstown MRT station. Queensway Canopy will consist of 996 Community Care Apartments, 3-room flats and 4-room flats.
The third BTO Queenstown 2022 site, Ghim Moh Natura, is bounded by Ghim Moh Road, Ghim Moh Close, Commonwealth Avenue West, and the Rail Corridor. Buona Vista MRT station is a three-minute walk away from Ghim Moh Natura. The project will consist of 991 units of 2-room Flexi, 3-room and 4-room flats. This site will fall under the PLH model.
All three Queenstown BTO Nov 2022 sites enjoy good locations in a popular mature town with lots of well-loved amenities.
The Ulu Pandan Banks and Ghim Moh Natura sites are near the popular lifestyle enclave Holland Village and have an abundance of nearby choice schools and tertiary institutions like ACS (Independent), Fairfield Methodist School (Secondary), and Singapore Polytechnic.
The Queensway Canopy BTO site is likewise surrounded by popular amenities such as IKEA Alexandra and Queensway Shopping Centre.
5-room flats are not available at any of the three sites, hence these BTO projects are more suitable for smaller households, seniors or couples without kids.
Queenstown BTO Price (HDB BTO November 2022 Launch)
Unit type | Queenstown BTO Price (HDB BTO November 2022) | Previous Queenstown BTO Price (HDB BTO May 2022) | Previous Queenstown BTO Price (HDB BTO August 2021) | Median resale flat prices in the area |
Community Care Apartment | From $82,000 | – | – | – |
2-room Flexi | From $206,000 | – | – | – |
3-room | From $362,000 | $369,000 to $481,000 | $382,000 to $464,000 | $395,000 |
4-room | From $516,000 | $511,000 to $691,000 | $540,000 to $670,000 | $860,000 |
With a total of 3,317 units up for grabs, there is an abundant supply for those hoping to secure a flat in Queenstown. In addition, Ulu Pandan Banks and Ghim Moh Natura will fall under the PLH model, which could depress demand. Hence, this is likely to be one of the easier mature estate launches to successfully ballot in.
Based on resale statistics from the HDB, the median resale price of 3-room flats in Q3 2022 was $395,000, while that for 4-room flats was $860,000. Most resale transactions in Queenstown are for older flats which explains the lower pricing for 3-room resale flats in the estate.
Newer flats, particularly those which have just completed that Minimum Occupation Period (MOP), command much higher prices, with some 4-room flats even crossing the million-dollar mark.
Budgeting for Your Queenstown HDB BTO 2022 Home Loan
Thanks to their central location, the Queenstown HDB BTO 2022 flats are likely to be priced at a premium. It is thus essential to plan your finances and know what you can afford.
HDB Queenstown BTO 2022 unit 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) |
3-room | $362,000 | $72,400 down payment; estimated $1,314 monthly mortgage repayments | $90,500 down payment; estimated $1,345 monthly mortgage repayments |
4-room | $516,000 | $103,200 down payment; estimated $1,873 monthly mortgage repayments | $129,000 down payment; estimated $1,917 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.
For the above examples, we’ve gone with an interest rate of 2.6% and an LTV of 80% for HDB loans, an interest rate of 3.4% and an LTV of 75% for bank loans. These figures have been adjusted to follow the September 2022 cooling measures as well as current bank interest rates. At the time of writing (23 November 2022), the lowest interest rate offered is 3.38%.
The above examples go on the basis of a 25-year loan. If you are able to afford higher monthly instalments, you can potentially opt for a shorter loan.
For more precise calculations, you can turn to our affordability calculator to work out the monthly instalments for your own loan. In addition, our PropertyGuru Finance mortgage experts are always ready to offer personalised assistance for your specific situation, so do not hesitate to get in touch.
Queenstown BTO Nov 2022 Amenities
Walking Distance to MRT Stations
All three of the HDB BTO Queenstown 2022 projects are located within walking distance of MRT stations.
The Ulu Pandan Banks and Ghim Moh Natura sites are just across the road from Dover and Buona Vista MRT stations respectively, while the Queensway Canopy site is 13 minutes’ walk from Queenstown MRT station.
City Fringe Location With Good Connections to the City Centre
All three HDB Queenstown BTO Nov 2022 sites connect to Raffles Place in the CBD, via the East-West Line, without the need for line changes in 13 to 20 minutes.
In addition, residents can also travel to the city easily via Commonwealth Avenue and Queensway.
A Wealth of Established Shopping and Food Options
The Ulu Pandan Banks and Ghim Moh Natura BTO Nov 2022 sites are located near the popular enclave Holland Village as well as other attractive lifestyle destinations like Rochester Park and Star Vista, which have a wealth of good food options. Ghim Moh Road Market and Food Centre is also an institution in the neighbourhood.
Meanwhile, the Queensway Canopy BTO project is located near many well-loved amenities such as Queensway Shopping Centre, IKEA Alexandra and Alexandra Village Food Centre.
Many Choice Schools Nearby
The Ulu Pandan Banks and Ghim Moh Natura projects are located near numerous schools and tertiary institutions such as the School of Science & Technology, Singapore Polytechnic, ACS (International), ACS (Independent), Anglo-Chinese Junior College, Fairfield Methodist School (Primary and Secondary) and United World College of South East Asia.
Conclusion: Are the HDB November 2022 Queenstown BTO Launches Worth Balloting For?
The BTO Queenstown flats are pricey, but those who can afford them will have the chance to live in an in-demand city fringe mature estate with a wealth of established and popular amenities.
Pros of Queenstown HDB BTO November 2022
Central location
Walking distance to MRT stations
Plenty of food and lifestyle options
Popular shopping options
Near many schools and tertiary institutions
Large supply of flats
Cons of Queenstown HDB BTO November 2022
Pricey
Ulu Pandan Banks and Ghim Moh Natura fall under the PLH model
5-room flats not available
The HDB Queenstown BTO Nov 2022 launch consists of a bumper crop of 3,317 units, so there is an abundant supply of units.
As 5-room flats are not available, the HDB Queenstown BTO Nov 2022 launch is likely to see interest from smaller households, seniors and couples without kids. However, it might also see demand from smaller households with kids due to the abundance of popular schools in the Dover area.
Applying for November 2022 HDB BTO Flats
Not sure if you should ballot for the Queenstown HDB BTO Nov 2022 flats? Read about the other upcoming BTO 2022 launches in November below:
Nov 2022 HDB BTO Launch Review: Bukit Batok, Kallang/Whampoa, Queenstown, Tengah, Yishun
HDB BTO November 2022 Bukit Batok Review: Verdant Greenery in the West of Singapore
HDB BTO November 2022 Tengah Review: Brand New Estate Under Development
HDB BTO November 2022 Yishun Review: Tranquil Waterfront Living
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