BTO 2022

HDB BTO 2022 Feb and May Launch Review

Singapore’s Housing and Development Board HDB tends to make headlines around this time of year, as plans for new flats and Build to Order BTO projects begin to surface – and this year is no different. BTO flats are hugely popular with Singaporeans on account of the flexibility buyers are afforded in terms of timing and location, but BTO launches and BTO flat supply are very carefully regulated.

HDB has announced an intention to launch up to 100,000 new flats between now and 2025 to ensure BTO flat supply catches up with demand. But when exactly are the first BTO projects due to launch in 2022? And in what locations can eligible buyers expect to find their future dream home?

Right now, there are two key BTO developments earmarked for this year. The first is expected to hit in February 2022, when around 4,000 new BTO flat units will be made available across four mature and non mature estates in Geyland, Kallang Whampoa, Yishun and Tengah. The second, which is forecast for May 2022, will open up more than 5,000 BTO units across six estates in Bukit Merah, Jurong West, Queenstown, Tampines, Toa Payoh and Yishun.

 

February 2022 HDB BTO Flats – Geylang, Kallang Whampoa, Yishun, and Tengah

Eager house-hunters will be pleased to hear that Geylang, Kallang Whampoa, Yishun and Tengah BTO projects have all been confirmed for February 2022. Estimates suggest that 3,930 BTO flat units will be made available in total. The new flats will be located in two mature estates in Geylang and Kallang Whampoa, and two non mature estates in Yishun and Tengah.

Before we explore the finer details of each individual BTO project, let’s take a glance at what will be on offer:

HDB BTO Location

 

BTO Type Total HDB BTO Units Available

 

Estimated BTO Launch Pricing Forecast

 

Geylang

 

2 (Flexi), 3 and 4 room flats available

 

440 units $390,000 to $460,000 (3 room)

 

$580,000 to $680,000 (4 room)

 

Kallang Whampoa

 

3 and 4 room units available

 

390 units $390,000 to $450,000 (3 room)

 

$550,000 to $650,000 (4 room)

 

Yishun

 

2 (Flexi), 3, 4 and 5 room flats available

 

1,830 units $190,000 to $250,000 (3 room)

 

$300,000 to $380,000 (4 room)

 

$400,000 to $500,000 (5 room)

 

Tengah

 

2 (Flexi), 3, 4 and 5 room flats available

 

1,270 units $220,000 to $260,000 (3 room)

 

$300,000 to $400,000 (4 room)

 

$420,000 to $520,000 (5 room)

 

 

At the time of writing, HDB has not yet unveiled the actual BTO launch prices for these BTO commercial development sites. The estimated prices quoted are sourced from SRX. Let’s take a closer look at what we know so far regarding the HDB BTO situation in each area:

 

1. Geylang

Competition in the popular city fringe location of Geylang will most likely be fierce, hence the higher price estimations for the 440 properties anticipated in this area. The river-view flats in the pipeline for February 2022 will have highly desirable views of the Geylang River and enjoy good proximity to both Dakota and Mountbatten MRT stations.

What’s more, the site will not be affected by Singapore’s PLH framework, as this BTO project will be relatively near the CBD.

2. Kallang Whampoa

Again, eligible buyers eyeing up the new flats earmarked for Kallang Whampoa are likely to face an extremely competitive market. Reports suggest the new Kallang Whampoa flats will be in walking distance of Lavender MRT, City Square Mall and the Mustafa Centre, making the site perfect for shopaholics.

Just as in Geylang, the new Kallang Whampoa properties will not fall under the PLH framework, but supply will be a little more limited, with just 390 units available in total.

3. Yishun

The anticipated new homes in Yishun will feature on two separate non mature estates, with 1,830 new flats to appear in total.

The predicted plots are located between Yishun Avenue 6 and Yishun Avenue 8, just a stone’s throw away from Khatib Bongsu Nature Park. Yishun’s reputation for solid local amenities, combined with its higher unit availability than May 2021’s Tengah BTO projects, make it a great option for buyers.

4. Tengah

Tengah is certainly no stranger to Tengah BTO projects and demand for homes in the area remains robust. 1,270 units will be made available across two main sites, both of which will straddle brand new roads in “Singapore’s first sustainable town”.

Prices are anticipated to be a little higher than those in Yishun, but nature-lovers will welcome the abundance of brand new green spaces and cycle paths planned for Tengah in years to come.

 

May 2022 HDB BTO Flats – Bukit Merah, Jurong West, Queenstown, Tampines, Toa Payoh, Yishun

February 2022 isn’t the only date to add to your calendar when it comes to prominent 2022 launch events for BTOs. A second BTO unveiling is set to take place in May this year, with Jurong West, Bukit Merah, Queenstown, Tampines, Toa Payoh and Yishun all ready to receive new HDB BTO apartments and resale flats before the month draws to a close.

These launches will span across six different estates, with somewhere between 5,200 and 5,700 units expected to become available in total. Here’s what’s we know so far:

HDB BTO Location

 

BTO Type Total HDB BTO Units Available

 

Estimated BTO Launch Pricing Forecast

 

Bukit Merah

 

3 and 4-room flats available

 

Approx. 1,500 estimated TBC
Jurong West

 

2 (Flexi), 3, 4 and 5 room flats available

 

TBC TBC
Queenstown

 

3 and 4-room flats available

 

TBC TBC
Tampines

 

4 and 5 room units available

 

Approx. 2,000 estimated TBC
Toa Payoh

 

2 (Flexi), 3 and 4 room units available

 

TBC TBC
Yishun

 

2 (Flexi), 4 and 5 room units available

 

TBC TBC

 

With the May launch events for BTOs still a fair few months away, very little information has been unveiled by HDB at these stage regarding unit numbers. That said, various reports suggest that May 2022 BTO plans will deliver upwards of 5,000 BTO units in total. Further details regarding the May 2022 BTO launch are expected to be announced during February’s big launch, but here’s what we can deduce so far:

 

HDB

1. Bukit Merah

Back in December 2021, HDB revealed that approximately 1,500 new units would be redeveloped near Prince Phillip Avenue in Bukith Merah. But right now, it remains unclear whether these HDB BTO units will form part of the May 2022 project.

If so, there’s a chance prime units on this mature estate could be similarly priced to Telok Blangah Beacon’s 3 and 4 room flats launched in May last year. Watch this space!

2. Jurong West

Although a little off the beaten path for some, Jurong West boasts some excellent schools and amenities within walking distance, as well as good public transport links.

Rumours suggest 2, 3, 4 and 5 room BTO units will likely crop around the now-empty plot near to Nanyang Opal, which opened as part of November 2021’s BTO Launches. Based on recent trends, commentators are predicting the new non mature complex could be named “Nanyang Pearl” or “Nanyang Jade”.

3. Queenstown

Ever since the launch of the Queen’s Arc BTO, with its gross floor area of 4.0, this area has gained a reputation for relatively high BTO prices but good availability.

Queenstown residents benefit from living in walking distance to Queensway Shopping Centre, Anchorpoint and IKEA, but uncertainty regarding the exact location of May 2022’s upcoming development could see new flats open up closer toward the Alexandra Hospital side of town.

 4. Tampines

August 2021’s BTO launches saw upwards of 2,000 new BTO units launched in Tampines, prompting predictions that a similar number of units will become available this summer, too.

That said, next to no information has been released regarding the location of the May 2022 Tampines BTO development, and the area’s proximity to Changi Airport means any new buildings will likely be low-rise only – which might not suit everyone.

5. Toa Payoh

There’s been talk that Toa Payoh’s next BTO might wind up located nearer to Joo Seng or Bidadari, due to the abundance of potential plot locations nearby.

No official plans have currently been set in stone, but experts predict relatively high prices for this area on account of its proximity to high-ranking schools and top local restaurants and facilities.

6. Yishun

Arguably one of the most hip and happening areas for Singaporean property right now, Yishun is set for two major BTO launches this year further to the well-received opening of Provence Residence EC last summer.

A location nearby Yishun MRT station – which provides perfect walking distance to local amenities – has been earmarked for the May 2022 launch, and prices are predicted to be relatively affordable.

 

Past Launches of BTO Apartments

Over the past few years, the areas of Hougang, Kallang Whampoa, Tampines, Tengah and Jurong West have all seen significant development in terms of BTO launches and brand new flats. The same goes for Woodlands, Geylang and Bukit Merah. Here are some of the hottest locations from recent launches:

February 2021

May 2021

August 2021

November 2021

 

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HDB Blocks

BTO Buying Guide

Purchasing a BTO can be accomplished in seven relatively straightforward steps. In order to purchase your dream home, you’ll need to:

1. Find Your Ideal BTO Location

First up, you’ll need to compare the latest BTO development locations to decide on which of the upcoming launches best suits your location requirements.

2. Determine Your Eligibility

Next, you’ll want to consult with HDB to determine whether you meet their eligibility requirements. At this stage, it’s equally important to figure out your income ceiling and start looking at mortgage or housing loan affordability.

3. Wait for HDB’s Submission Period to Begin so You Can Apply

Once HDB has released its submission period for the upcoming launch, you’ll be able to submit an application.

4. Keep an Eye on Your Application Status

HDB will grant you access to a portal whereby you can monitor your application’s progress once it has been submitted.

5. Book Your BTO Unit

Assuming HDB approves your BTO application, you’ll receive a formal invite to book your BTO. At this stage, you’ll need to prepare the documents listed here and settle HDB’s option fee for the property.

 6. Pay Your Downpayment and Sign Your Lease Agreement

From here, you’ll need to sign your lease and submit a Letter of Offer to your bank or money lender (assuming you are using a loan to fund the purchase). CPF also requires a per cent downpayment to be made, of either 10 per cent for HDB loans or 20 per cent for bank loans, plus an additional 1 to 3 per cent in legal fees and stamp duty.

7. Finalize Your Purchase and Pick Up Your Keys

Congratulations! At this point you can collect your keys and move into your new flat.

 

Frequently Asked Questions (FAQs) about BTO Flats

1. What is A BTO and How Does it Work?

A BTO or “Build to Order” flat is an apartment unit earmarked for future construction in a desirable location.

Homebuyers must pre-book their preferred flat in advance, as HDB will not begin construction until more than 65% of the apartments in the intended complex have been “booked”. To do this, you must follow the seven-step process outlined in this article.

2. How Can I Increase My Chances of Getting a Build-to-Order flat?

There are ways you can boost your chances of getting a BTO. However, you’ll likely need to qualify for a specialist HDB scheme that entitles applicants in your position to a higher percentage of flat allocation.

Among others, such schemes include the Parenthood Priority Scheme (PPS) if you are expecting a child, the Senior Priority Scheme (SPS) for senior citizens in need of a 2 room Flexi unit, and the Tenants’ Priority Scheme for previous HDB renters who want to get on the property ladder.

3. Can I Apply for 2 BTO Units at the Same Time?

So long as you haven’t already booked a flat, you are well within your rights to apply to more than one HDB BTO sales launch.

4. How Many Times Can Singaporeans Buy a BTO?

Under most circumstances, eligible Singapore Citizens can purchase a HDB BTO or similar property twice in total, assuming they fall within the income ceiling, household income and eligibility requirements.

5. Is a BTO Flat Cheaper than a Resale Flat?

Yes, BTO flats have a far-reaching reputation for value for money. More often than not, BTO units are significantly cheaper than similarly sized HDB resale flats available in the same area.

6. How Long Do I Have to Wait for BTO?

A typical BTO plot or BTO commercial development can take anywhere between three and five years to complete. Naturally, the waiting time will always vary depending on the size and scale of the project in question.

7. Is the BTO Application Process First Come, First Serve?

No, while in theory interested parties have to get their applications in quickly, the process is based on a computerized ballot system which assigns queue numbers to each applicant in a just and fair way.

8. Can a Single Person Purchase a BTO?

Yes, 2 room Flexi BTO properties are available to single applicants so long as you are aged 35 or over and meet the appropriate household income requirements.

 

2022 HDB BTO Launches – What Do You Need to Know?

If you’re looking for a new BTO in a great location, there are two key launches to add to your diary this year – February 2022 and May 2022. But before you book your BTO, don’t forget to:

  • Research upcoming BTO launch locations, prices and room numbers to determine which kind of flat – and what location – are best for you.
  • Follow the seven steps outlined in our BTO Buying Guide above to ensure a smooth and seamless process.
  • Compare loans and financial products offered by different moneylenders to ensure you are getting the best deal on your housing loan or other home financing.

Here at Instant Loan, we like to keep our readers up-to-date with the latest financial and property news. If you need a personal loan or housing loan to bolster your household income for your next property purchase, why not use our loan comparison service to retrieve up to three loan quotes from licensed money lenders today absolutely free?

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