The upcoming BTO launch in May 2023 is one to keep an eye on if you are one of…
As we head into the Chinese New Year holidays, a group of Singaporeans will be preparing for the biggest purchase of their lives. Yes, we are talking about the exclusive BTO that represents a rite of passage where we enter the adulting life.
This year’s BTO will mark a shift in the BTO Launch. Instead of four BTO Launches a year, there will now only be three launches. The upcoming BTO Launch in February 2024 is going to be the first one in this new era for BTO Launches.
For our readers who are preparing to BTO, here is our analysis of the available estates that are up for BTO in February 2024.
Source: HDB
Queenstown estate is one of those mature estates where you know it will always be a hot choice among BTO applicants. This upcoming Queenstown BTO Launch in February 2024 is likely going to be one of the top choices. It’s not hard to tell why.
While Queenstown isn’t in the city center, it can be considered a city fringe location where driving to the city center is convenient. Plus, the Queenstown BTO will come with close proximity to Commonwealth MRT. It’s just two streets away from the MRT station.
One-north is also two MRT stations away from this BTO in Queenstown, which means there will be potential for renting it out once the Minimum Occupation Period (MOP) hits.
But here comes the complication. Given its locality, this Queenstown BTO is very likely to fall under the Prime Location Housing (PLH) category. This means it comes with a 10-year MOP period and claw backs if you sell before it hits MOP.
The other factor that could discourage applicants is that there are only 250 units available. Some of these units will be allocated for 2-Room Flexi flats, which means that there will be a much smaller pool of 4-Room flats available. You need all the luck you can find to even get a ballot number for this BTO.
Source: HDB
What if you want to stay in a mature estate but you don’t want to be tied down by the 10-year MOP? Well, if you fall into this group, then Bedok is your only other option for this BTO Launch.
For the Bedok BTO Launch, you will find two different plots that you can take into consideration. One is near to Bedok Reservoir MRT station on the Downtown Line (DTL) while the other is in between Tanah Merah MRT station and Bedok MRT station on the East-West Line (EWL).
Fortunately (or unfortunately), you do not have to indicate your choice at the time of BTO application. Depending on your ballot number, you will be able to choose from both plots since they fall under the same estate.
Source: HDB
Among the non-mature estates, Hougang and Woodlands are among our top choices if we had to apply for one in the February 2024 BTO Launch. There are a couple of reasons why we like this BTO and it all boils down to good location.
While this BTO is classified as Hougang, it is actually very close to Serangoon and Bartley area. For the uninitiated, that’s a good city fringe location. Beyond that, the Paya Lebar Air Base (PLAB) to the East of this BTO site is going to be redeveloped by the 2030s. What this means is that there could be potential for capital appreciation for PLAB and its surrounding estate.
But here’s the catch. You will need to deal with the dust that is going to come your way while PLAB is being redeveloped. But we think it’s going to be worth it years down the road.
Source: HDB
Besides Hougang, the other non-mature estate that we like in this BTO Launch is Woodlands.
One of the reason for that is because of the sheer number of units available. The Woodlands site will have 1,120 units of 2-Room Flexi, 3-Room, 4-Room, and 5-Room flats. This means that you have a higher chance of getting a ballot number just from the absolute number of units available. Well, at least if you compare to smaller sites like the one at Queenstown.
The other driver for our choice in Woodlands is because we see potential in the overall development of Woodlands. Urban Redevelopment Authority (URA) has already been carrying out its plan to develop Woodlands into a regional centre and commercial hub in the North.
There will be a lot of new jobs created with the commercial hub development, which will drive demand for housing in Woodlands in the long run. Logically, higher demand for housing is going to drive up prices of housing in the region.
Source: HDB
Being on the North Eastern end of Singapore, Punggol has always had that unique city living with nature vibe that few estates in Singapore can beat. You can enjoy the convenience of living near to a town centre (Punggol) while still being close to nature. In this case, the Punggol BTO site is right next to Punggol Reservoir with Punggol Park connector along the reservoir.
With 960 units available, this is the second largest site for the February 2024 BTO Launch. It’s your next best chance for a ballot number after Woodlands purely from a probabilistic perspective.
That said, the site is right next to Tampines Expressway (TPE). The noise may be a turnoff for those who are light sleepers or easily irritated by the noise. But if you can treat it as white noise, then that’s great for you.
Source: HDB
The BTO site in Choa Chu Kang holds very similar characteristics to the BTO site in Punggol. Just like the BTO site in Punngol, it also comes with very closely integrated connection with nature.
From your flat, you can enjoy the view of Sungei Pang Sua. It’s also a great route to do your morning or evening jogs if you are into healthy living in the nature. There will also be a part of the Rail Corridor that will run right next to the Choa Chu Kang BTO that brings you from the North (Woodlands) to the city centre. The Pang Sua Park-Stagmont Park Connectors also connects the BTO to the town centre at Choa Chu Kang.
Even the downside of the Punggol BTO site is replica-ed in the Choa Chu Kang BTO site. For the Punggol BTO site, it is next to TPE. For the Choa Chu Kang BTO site, it is right next to Kranji Expressway (KJE). Noise from the expressway will definitely be a factor to consider.
In terms of accessibility, the Choa Chu Kang BTO seems to offer a good mix of connection to both Choa Chu Kang MRT station and Bukit Panjang MRT station. This means that you can easily travel on either the North-South Line (NSL) or DTL for your daily commute.
For those who are planning to apply and ballot for this round of BTOs, we wish you all the best.
And if you managed to successfully ballot for a flat in this BTO, make sure to check out our home loan comparison tool here. The home loan comparison tool is meant to help you find the best home loan deal in the market right now! Don’t hesitate to reach out to us if you are unsure whether you are getting the best loan deal on your home loan.
