May brings a deluge of BTO launches, with new projects in both Mature and Non-Mature Towns and Estates.
Due to the small size of Singapore, and its well-connected public transport, most home buyers will not worry about whether the estate is mature or not. However, it is important to note that the hard definition for “Mature” is that the town has been around for more than 20 years. That means more amenities, malls, and shops.
Non-Mature estates, on the other hand, have been around for less than that period of time, and tend to be less developed than mature estates. However, this also means that there is more space for property in non-mature estates to grow in value since development tends to spring up around non-mature estates as time passes by.
It also means that units in Mature estates will tend to be more expensive. Since we’re talking about Mature estates, let’s talk about HDB’s latest BTO in the Mature estate of Kallang/Whampoa.
Quick Overview – Kallang/Whampoa BTO May 2019
This new development is an interesting one, with its location a key point of consideration for many potential buyers. The project will sit right at the crossroads of Boon Keng Road and Serangoon Road, giving future residents good access to Boon Keng MRT and Farrer Park MRT.
This site will be made up of 580 units, split into 2, 3, and 4-room configurations.
Great Location, High Demand
This area has had previous BTO launches before, and during those launches, the Kallang/ Whampoa BTO project was heavily oversubscribed, with over 7000 people applying for only 855 units. This comes up to approximately 8 times oversubscription.
This comes as no surprise, as the Kallang/Whampoa area is considered to be on the fringe of the CBD.
Residents in that area tend to be within a 10-minute commute into the heart of the financial district, so demand tends to be high for this type of convenience.
There is also the fact that the Kallang/Whampoa area is highly convenient when it comes to getting daily necessities. There are multiple supermarkets in the estate, and there is the large, 700,000 sq ft City Square Mall that has over 200 tenants, including a cinema.
Beyond that, Little India’s eclectic neighborhood and Jalan Besar’s sumptuous collection of shophouse restaurants are within striking distance, making for well-rounded availability of food.
While HDB has not released the pricing for May’s Kallang/Whampoa release, we know that the previous February BTO launch also had a project in the Kallang/Whampoa area. We take that as a guide price.
Here are the prices from that launch:
2-room Flexi: No Pricing Available
3-room: Starting from $374,000
4-room: Starting from $523,000
Quick Overview – Tengah BTO May 2019
First things first: The Tengah BTO project is huge. We are talking about 2180 new units, split into 2, 3, 4 and 5-room configurations, spread over two separate sites. One along Plantation Cresent (1190 units), and another one sitting at the junction of Plantation Cresent and Tengah Boulevard (990 units).
This is one of the largest BTO projects we’ve seen in recent years, and the planning in the area is compelling.
Plenty of Plans
Expectations of this undeveloped neighborhood are high. There is nothing built in this neighborhood yet, but if you look at the site plans and placement of future developments, you can already see multiple MRT stations cutting through this neighborhood.
These stations belong to the upcoming Jurong Region Line (JS). The JS Line is expected to open by 2026, and it will connect to the East-West Line via Jurong East MRT station.
On top of new MRT stations, the government is also planning new town parks, community centers and sports and recreation zones for future residents. In terms of current developments, Bukit Batok MRT is the closest MRT station, with its adjoining West Mall being the closest mall.
It is important to note that a previous BTO project located in Tengah, which had 1098 units on offer, was actually oversubscribed by 1.98 times. The November 2018 exercise saw a large number of people going for 5-room flats, with over 866 applications fighting for 443 units.
This new Tengah BTO project is expected to have the same level demand due to the promised MRT and park developments.
While HDB has not released the pricing for May’s Tengah release, we know that the previous November BTO launch also had a project in the area, hence, we will be taking that as a guide price.
Here are the prices from that launch:
2-room Flexi: $101,000
3-room: Starting from $193,000
4-room: Starting from $290,000
5-room: Starting from $397,000
Quick Overview – Woodlands BTO May 2019
The Woodlands development takes place on a plot that is placed on the fringe of this Northern neighborhood and will be situated right next to the Singapore Sports School. This 720-unit development, split into 2, 3, 4, and 5-room configurations, is ringed by Champions Way and Woodlands Drive 17.
Well Supported Neighbourhood
Even though Woodlands is not considered as a Mature estate, it is clear that there are plenty of developments already in place for residents in this area.
The neighborhood is better developed than Tengah, but the real draw is the new MRT station that will be within striking distance when the first phase of the Thomson – East Coast Line (TEL) comes on line later this year. When the line is finally complete, residents will have a direct connection into Orchard Road, Marina Bay, and even Bedok.
Beyond public transport, this BTO will be supported by amenities like Causeway Point Mall, which is a 420,000 sq ft mall that has over 250 stores. It has a supermarket, cinema, and a while host of food and shopping options. Additionally, there are 2 parks near the development and a host of nature options when you enter the Mandai Road area.
See more: Canberra MRT station to open by end 2019
While HDB has not released the pricing for May’s Woodland’s release. However, the nearby estate of Canberra has had an exercise in November 2018.
Therefore, we will be taking that as a guide:
2-room Flexi: No Pricing Available
3-room: Starting from $165,000
4-room: Starting from $251,000
5-room: Starting from $327,000
It looks like all of May 2019’s BTO launches are primed for success.
To us, the most interesting of these developments is the Tengah BTO. It’s a huge development in one of those rare, undeveloped spot of Singapore.
We know that the city planners don’t plan to build in isolation, meaning that this level of development by the HDB is an indication of what’s to come in this area. Additionally, this development is all priced.
While Tengah’s development means good things to come in the west, the other two developments seem to be pretty good as well. On one hand, the Woodlands development coincides with the completion of the TEL, and is extremely well priced.
On the other, the centrally located Kallang/ Whampoa is well-placed for convenience and accessibility to the CBD.
That’s it for May’s BTO launch. This won’t be the last roundup of BTO launches for this year.
As more launches get rolled out, we’ll be here to share more information and break things down for you, so stay tuned for more!
See more: What’s next after applying for a BTO?