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HDB BTO Launch May 2023: New Opportunities For Homebuyers
By Beansprout • 30 May 2023 • 0 min read
At the May 2023 sales launch, HDB will be offering 5,495 BTO flats in Tengah, Kallang, Serangoon, and Bedok. Read our guide before you make a decision on which project to go for.
In this article
What happened?
The May 2023 HDB BTO sales launch is now open!
The Housing Development Board (HDB) typically holds four Build-To-Order (BTO) sales launches every year.
It’s that time of the year again when eligible homebuyers in search of their dream home can apply for new HDB flats.
But don’t forget that you need to complete the preliminary HDB Flat Eligibility (HFE) check before submitting your application.
Under the new procedure, applicants must have a valid HDB Flat Eligibility (HFE) letter before booking a flat if they are shortlisted.
For more information, you may refer to our article on the HFE letter application.
What projects are available in HDB’s BTO launch in May 2023?
There are three mature estates in Kallang/Whampoa, Serangoon and Bedok.
For non-mature estates, there is one location near the Tengah Plantation Close and another at Tengah Park Avenue.
For a brief summary, you may refer to the table below:
Project | Plantation Verge (Tengah) | Parc Meadow @ Tengah | Farrer Park Arena | Serangoon North Vista | Bedok South Blossoms |
Estate type | Non-mature | Mature | |||
PLH status | No | Yes | No | ||
Total supply of flats | 971 | 1985 | 569 | 330 | 1640 |
Type of flats | 2-room Flexi, 3-room, 4-room, 5-room | 3-room, 4-room | 4-room, 5-room | 2-room Flexi, 3-room, 4-room, 5-room, 3Gen | |
Nearest MRT available | Tengah Park MRT (ready in 2028) | Tengah MRT (ready in 2027) | Farrer Park MRT (6 min walking distance) | Serangoon MRT (20 min walking distance) | Tanah Merah MRT (10 min walking distance) |
Nearest expressways | KJE, PIE | CTE | KPE | PIE | |
Estimated prices | 3-Room: $238,000 – $288,000
4-Room: $350,000 – $440,000
5-Room: $454,000 – $575,000
| 3-Room: $253,000 – $309,000
4-Room: $363,000 – $467,000
5-Room: $489,000 – $607,000
| 3-Room: $362,000 – $466,000
4-Room: $505,000 – $642,000
| 4-Room: $397,000 – $496,000
5-Room: $558,000 – $658,000
| 3-room: $320,000 – $296,000
4-room: $448,000 – $587,000
5-Room: $588,000 – $737,000
|
| Construction time | 44 months | 37-40 months | 48 months | 42 months | 41 months |
| Completion date | Q3 2027 | Q1-Q2 2027 | Q4 2027 | Q3 2027 | Q3 2027 |
| Source: HDB | |||||
What you need to know about projects in the HDB BTO launch in May 2023
HDB BTO launch in May 2023 - Plantation Verge
This BTO project is located between Plantation Close Road and the Pan Island Expressway, with nearby access to Chinese Garden MRT with a bus ride.
Additionally, it is near the upcoming Tengah Park MRT which is scheduled to open by 2028.
Flat types & number of units | |
2-room Flexi (Type 1) | 52 |
2-room Flexi (Type 2) | 130 |
3-room | 88 |
4-room | 377 |
5-room | 324 |
Total | 971 |
| Source: HDB | |
Location of Plantation Verge
Site plan of Plantation Verge
HDB BTO launch in May 2023 - Park Meadow @ Tengah
This BTO project is situated nicely along Tengah Park, right next to the future ACS Primary campus that will be relocating in 2030.
It is also very near the upcoming Tengah MRT which is set to open in 2027.
Flat type & number of units | |
2-room Flexi (Type 1) | 92 |
2-room Flexi (Type 2) | 354 |
3-room | 82 |
4-room | 791 |
5-room | 666 |
Total | 1985 |
| Source: HDB | |
Location of Park Meadow @ Tengah
Site plan of Park Meadow @ Tengah
HDB BTO launch in May 2023 - Farrer Park Arena
Situated along Dorset Road and Farrer Park road, this BTO project is very nicely located at just a 6-min walk from Farrer Park MRT and a 10-min walk from Little India MRT.
Flat types & number of units | |
3-room | 92 |
4-room | 477 |
Total | 569 |
| Source: HDB | |
Location of Farrer Park Arena
Site plan of Farrer Park Arena
HDB BTO launch in May 2023 - Serangoon North Vista
This BTO project is located just 12-min walk away from the upcoming Serangoon North MRT station which will be opening in 2030.
Moreover, it is also located near Serangoon MRT which is just a short bus ride away.
Flat types & number of units | |
4-room | 201 |
5-room | 129 |
Total | 330 |
| Source: HDB | |
Location of Serangoon North Vista
Site plan of Serangoon North Vista
HDB BTO launch in May 2023 - Bedok South Blossoms
Bounded by Bedok South Avenue 3 and Bedok South Road, it is just a 10-minute walk away from Tanah Merah MRT which makes the location convenient in terms of travel.
Flat types & number of units | |
2-room Flexi (Type 1) | 36 |
2-room Flexi (Type 2) | 108 |
3-room | 120 |
4-room | 766 |
5-room | 573 |
3Gen | 37 |
Total | 1640 |
| Source: HDB | |
Location of Bedok South Blossoms
Site plan of Bedok South Blossoms
How will the new HFE process will affect the application demand in HDB BTO launch in May 2023? Will it reduce the demand since applicants have to be assessed beforehand?
While the HFE process does add another barrier to entry (since previously all applicants had to do was to pay a $10 application fee), it is unlikely that the demand will be affected significantly.
But based on the February 2023 sales launch data, it may suggest that the application rates are slowly stabilising.
Should you apply for a popular project that is oversubscribed in the HDB BTO launch in May 2023? Or should you maximise your chances by going for a project that is less popular?
It depends on how comfortable you are with going for a project in a non-mature estate, where the location may not be as centrally located.
For what it’s worth, some Singaporean couples are more comfortable with non-mature estates especially given the increased transport connectivity provided by the MRT network.
Moreover, places like Tengah may also not be a bad choice given its close proximity to the future ACS primary school.
Should you go for a PLH project in the HDB BTO launch in May 2023 ? What are key considerations?
When you buy a big ticket item you must be clear on your intention: for housing or for investment.
If you intend to upgrade, do be mindful that the age of the borrower will affect the mortgage for the next loan.
Assuming there is a 4 year construction period + 10 year minimum occupation period (MOP), this will mean 14 years from now before you can sell your flat.
If you and your spouse are aged 30 this year, and the flat is ready in 4 years time, you will only be able to sell your flat at the age of 44.
Under the Monetary Authority of Singapore (MAS) guidelines, the maximum loan tenure for HDB flats is 30 years and the loan period cannot extend beyond the borrower’s age of 65 years.
In other words, you will only be eligible for a maximum loan period of 21 years for your second loan at age 44.
If you apply for HDB BTO launch in May 2023, can you still apply for the August 2023 launch?
Most people do not know this, but you can actually hold up to two queue numbers as long as your first appointment has not been called.
So you will still be considered a first-timer applicant when you apply for the August launch even if you already have a queue number from the May launch.
However, if you have a low queue number and your first appointment date is set before the outcome of your August sales launch, then you will not get to hold two queue numbers.
What projects can we expect for the HDB BTO launch in August 2023?
In the August 2023 sales launch, HDB will offer about 5,200 to 6,200 units of BTO flats in the following estates:
- Choa Chu Kang (2-room Flexi/3-/4-/5-room/3Gen)
- Tengah (2-room Flexi/3-/4-/5-room)
- Bukit Merah (2-room Flexi/3-/4-room)
- Kallang Whampoa (2-room Flexi/3-/4-room)
- Queenstown (3-/4-room)
This number is subject to review as more project details will be confirmed closer to the launch date.
What would Beansprout do?
Scenario 1: If you are a couple in your early 20s
If you are in a steady relationship with your partner and are certain of the commitment, you can apply for a suitable project to see if you get a successful queue number.
Do be mindful, however, that if you turn down your chance to select a flat after being shortlisted, you will lose your priority status for one year.
However, university students should be aware that they will have to undergo deferred income assessment which takes place 3 months prior to key collection
Scenario 2: If you are a couple in your late 20s/early 30s who can afford to wait
If you are a couple that can afford to wait for 4-5 years before getting your flat, there is no harm applying for this round.
But you may also consider alternative options such as the sale of balance flats (SBF) or resale HDB flats if you are unsuccessful this time round.
However, you should note that SBF are typically units from previous launches that have not been selected and hence may not be ideal (low floors, afternoon sun, non-ideal configuration, etc).
Scenario 3: If you are a couple in your late 20s/early 30s who cannot afford to wait
Going for a resale HDB flat might be a better option if you and your partner find that the 4-5 year waiting period is too long.
This is especially considering that you will not immediately be able to move into your flat upon key collection. You will still need to do renovation works that could take around 6 months or so.
Where can you find more resources on HDB BTO?
Follow our step-by-step guide on how to apply for a HDB BTO.
Learn more about what you would need for your HDB Flat Eligibility Letter (HFE).
Deciding between a HDB loan and a bank loan? Here's what we prefer.
Not eligible for a HDB loan and need a bank loan? Here are our key considerations in taking a bank loan.
This article was first published on 30 May 2023 .
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