The government recently announced that 85% of BTO projects will be facing delay. Will this affect the upcoming BTO…
Build-to-Order (BTO) exercises are always highly anticipated among first-time homeowners. But we think this round of BTO in May 2022 is going to be different. It is going to be even more exciting for first-time homeowners because of the bumper crop of BTO project launches.
For the first time ever, there will be two BTO projects launched under the l in Bukit Merah and Queenstown. While these two estates have always been known to be city fringe locations, they were previously still considered as just mature estates under HDB BTOs.
For those in the non-mature estates, they offer great choices as well. From a cost benefit analysis, Lakeside View and Yishun Beacon have a high cost-to-performance ratio given the relatively low entry price.
Here’s our insights into the BTOs that are part of the May 2022 BTO launch.
All images are courtesy of HDB
The first PLH BTO is Bukit Merah Ridge. From the artist impression, it is seems to be at least 40 storey tall. So far, all the HDBs with high floors have all fared pretty well in the resale market. Simply look to the record sale $1.4m HDB at Henderson Road and you will know that HDBs with good location and good view are in high demand.
Although the name suggests that it is located in Bukit Merah, we think that it is fair to also say that this BTO is closer to Tiong Bahru than Bukit Merah.
It is barely 400m away from the Tiong Bahru MRT. This makes the BTO at Bukit Merah Ridge highly convenient and accessible, especially since the city centre is just four MRT stops away.
The other thing to love about Bukit Merah Ridge is that the amenities are all readily available given that Bukit Merah/Tiong Bahru is a rather mature estate. Tiong Bahru Plaza and Bukit Merah Market & Food Centre are all within walking distance from Bukit Merah Ridge.
The price point of Bukit Merah Ridge seems to almost guarantee a 50% price appreciation once the 10-year MOP (due to its PLH status) is reached. However, the starting price of a 4-room HDB flat will cost you much more than even mature estates with the cap at $730k.
The other BTO in May 2022 that caught our attention is definitely Ghim Moh Ascent. The other high floor BTO under the PLH model in May 2022 will bound to attract lots of application as well.
Its close proximity to the Buona Vista MRT is one of the reasons why it will garner that kind of attention from first-time homeowners. Like Bukit Merah Ridge, Ghim Moh Ascent is also located right next to a food centre, i.e. Ghim Moh Road Market & Food Centre. There are also shops which are conveniently located at the foot of the new HDB block.
Compared to Bukit Merah Ridge, Ghim Moh Ascent comes with a lower price tag (~10% lower). That can be attributed to the location of Bukit Merah Ridge, which is definitely more of a “city fringe” compared to Ghim Moh Ascent. That’s why we think that Bukit Merah Ridge is going to be the more popular choice between the two.
That said, because of the lower price tag, those who can get Ghim Moh Ascent will see their property appreciate more when the 10-year MOP hits in terms of percentage gain.
It seems to be becoming a trend that HDBs are on the way to becoming skyscrapers. This BTO launch in Toa Payoh appears to also join the 40-storey tall HDB club.
While it may be tall, Kim Keat Heights is the smallest development among the May 2022 BTO launches. There are a total of 404 flats up for grabs for the new homeowners. Among them, there are only 165 4-room flats. This means that you got to be really lucky to hit the jackpot to get a good ticket number.
Despite the smaller number of units, families may want to still consider this location for the fact that the popular and highly ranked Pei Chun Public School is right next to it.
While there’s no proximity to the MRT station, the amenities around Kim Keat Heights is pretty decent. From supermarkets to schools to parks, there is no lack of amenities for those who managed to pick a flat from Kim Keat Heights.
Lakeside View is one of the two non-mature estate BTOs that are released for the May 2022 BTO launch.
Of course, unlike the BTOs in Ghim Moh, Bukit Merah, and Kim Keat, you can find that the HDBs here are much “shorter” in height. There’s a perfect reason for that: Tengah Airbase. Since the airbase is in the West, you can’t have 40-storey tall buildings that will pose a hazard for the expensive F15-SG, F16, and F-35s.
Location wise, Lakeside View is not too bad as well! Yes, there’s the big and beautiful Jurong Lake Garden right in front of it. Though Lakeside View may not be 40 storey tall, the view promises to be great even from 6 storey high. No wonder it’s called Lakeside (with a) View.
Plus, Lakeside MRT is just 400m away from Lakeside View. Lakeside MRT may be 13 MRT stops away from City Hall, but there’s the up and coming Jurong East sub-regional centre that is just three stops away.
Most importantly, you have a wide range of flat types that you can apply for at Lakeside View, i.e. from 2-room flexi all the way to 5-room. The 5-rooms seem to offer the best view of Jurong Lake Garden for those who are looking for a nice view.
Among the BTOs in May 2022 BTO launches, Yishun Beacon may not give much of an impression to homeowners. Yeah, we know that the exterior design and colour scheme is kind of ugly, but we think that it is definitely worth taking a second look. Here’s why.
Yishun Beacon is located in close proximity to lots of amenities in Yishun. It is not one of those ulu places you find in Yishun. For instance, it is 300m away from Northpoint City, which is the first and largest integrated mixed development in the North. Northpoint City is integrated with Yishun MRT station, which means that residents at Yishun Beacon will enjoy great convenience and access.
Besides Northpoint City, Yishun Beacon is also surrounded by lots of green spaces like Yishun Park, Yishun Pond Park, and Nee Soon Central Community Park. Khoo Teck Puat Hospital is also right next to Yishun Beacon. Those who are “pantang” (superstitious) may find this a bit of a bummer, but having a hospital right next to your place may be very convenient for those with elderly at home to take care of.
Obviously, we can’t be talking about non-mature estate BTO launches without talking about the price. At a starting price of $328k for a 4-room flat, it is very affordable compared to all the other BTO options you have in this round of BTO launch.
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.
Read more about our previous article on Prime Location Housing Model