UPDATED 30 May 2023: They waited till the second last day of May but the HDB BTO May 2023 launch is finally here! They've implemented a new virtual waiting room system, so feel free to look through the information here before making a decision!
If you are thinking about BTO-ing, heads up. There’s a new BTO launch that will be released this month and it isn’t like any others. The May 2023 BTO Launch offers a couple of interesting mature estate sites that will definitely excite those who swear by them.
So here’s our take on what we think are going to be the hottest BTO projects when they are released by HDB in May 2023.
No. 5: Plantation Verge
BTO Name Prediction: Plantation Edge, Plantation Fringe
Actual Name: Plantation Verge
Source: HDB
What We Love About This BTO
Accessibility is the biggest highlight for this Tengah BTO.
For a start, this BTO at Tengah is at the intersection of three estates: Tengah, Bukit Batok, and Jurong East. This means that you not only get to enjoy the amenities of the existing Bukit Batok and Jurong East estate, you also get to enjoy the new amenities at Tengah and the whole car-lite and forest town concept.
Within a 500m radius, there are three MRT stations on the future Jurong Region Line from this Tengah BTO, making it very convenient for travelling towards the town centre at Tengah or at Jurong East when they open in 2028.
If you drive, proximity to the Pan-Island Expressway (PIE) gives you easy access to other parts of Singapore.
What You Might Not Like About This BTO
The proximity to PIE is both a boon and a bane. Being close to the PIE may mean lots of white noise in the background during early morning or peak hours, despite the proposed Forest Fringe park between the BTO launch and the expressway.
As Tengah is a new estate, these amenities will not be available at the start. It will take a couple of years for things to settle and for the local community to flourish. It takes a bit of patience, but if you have any, it will come in the rewards of capital appreciation in your home’s valuation in years to come.
That said, not including the two in this BTO exercise, there have been 14 BTO launches in the new Tengah estate thus far, so at least you know you won't be the first to move in.
Project Details
- Types of units available: 182 2-room (Type 1 and Type 2), 88 3-room, 377 4-room and 324 5-room units
- Price range (excluding grants): $125,000 - $575,000
- Expected completion date: 3rd Quarter 2027
Mortgage Master Rating
- Own Stay Potential: 5/10
- Resale Potential: 7/10
- Rental Potential: 4/10
- TOTAL SCORE: 16/30
No. 4: Parc Meadow @ Tengah
BTO Name Prediction: Parc Leaf, Parc Bloom, Parc Oldham
Actual Name: Parc Meadow @ Tengah
Source: HDB
What We Love About This BTO
For us, this Tengah BTO edges slightly ahead of the other Tengah BTO site closer to Bukit Batok.
A big draw for this Tengah BTO is its proximity to the “future primary school” beside it - Anglo-Chinese School (Primary). While the choice to relocate the school may have been met with some controversy from alumni, It’s pretty clear that living in this BTO launch means that your child will get priority admission into ACS (P).
Another highlight of the Tengah BTO is the proximity to the new town centre at Tengah. You will be living just two streets away from the town centre at Tengah, which is also where the MRT station is located.
Based on the URA Master Plan, the other two sites beside the Tengah town centre will be a mixed development.
There’s a possibility that they might be condo developments that will be integrated with the new Tengah MRT station. Which means that you’ll get to reap the benefits of not just living close to the town centre, but also to enjoy the commercial developments at the town centre.
What You Might Not Like About This BTO
ACS (Primary) will only move campuses in 2030. What this means is that homeowners in Tengah should realistically expect a majority of the amenities to come into place closer to 2030, i.e. 2028 onwards. For some, this may be a long wait given that this is still five years down the road.
However, as mentioned earlier, there will already be at least 14 other BTO launches moving in before you do, so expect some kind of neighbourhood community to have formed before your arrival.
Project Details
- Types of units available: 446 2-room (Type 1 and Type 2), 82 3-room, 791 4-room and 666 5-room units
- Price range (excluding grants): $127,000 - $607,000
- Expected completion date: 2nd Quarter 2027
Mortgage Master Rating
- Own Stay Potential: 7/10
- Resale Potential: 5/10
- Rental Potential: 6/10
- TOTAL SCORE: 18/30
No. 3: Serangoon
BTO Name Prediction: Hwi Yoh Garden, Hwi Yoh Grand
Actual Name: Serangoon North Vista
Source: HDB
What We Love About This BTO
The BTO launch is May is an uncommon one. Most BTO launches have more non-mature estate projects than mature estate projects. However, this BTO launch in May has more units in mature estates than non-mature estates. A total flip around!
Serangoon is an area where you won’t see a BTO as often. In fact, it has been nine years since the last BTO in the area, cementing how rare it is. As Serangoon is in a relatively central location, this BTO is expected to see high demand.
The neighbourhood is also very ecletic, in a good way! You'll be next to the newly built, highly sought-after condo Affinity at Serangoon, while across the road is the private housing estate of Serangoon Gardens. Down Serangoon North Ave 1 are the newly built Studio Apartments
What You Might Not Like About This BTO
The biggest downside of applying for this BTO is the limited number of units. With only 330 4-room and 5-room units, the application rate for this Serangoon might be way too high. You’re going to need a fair bit of luck to get your hands on a ballot number.
The other concern is price. Though you’ll be staying in Serangoon, this BTO won’t be situated in the most central area. And despite that setback, you’ll still be paying a premium for the fact that it’s a mature estate. Aspiring homeowners will need to weigh whether the price put forth by HDB is justified for your housing needs.
Project Details
- Types of units available: 201 4-room and 129 5-room units
- Price range (excluding grants): $397,000 - $496,000
- Expected completion date: 3rd Quarter 2027
Mortgage Master Rating
- Own Stay Potential: 8/10
- Resale Potential: 6/10
- Rental Potential: 7/10
- TOTAL SCORE: 21/30
No. 2: Farrer Park Arena
BTO Name Prediction: Farrer Park Court, Farrer Park Heights
Actual Name: Farrer Park Arena
Source: HDB
What We Love About This BTO
Little India is one of the most underrated estates in Singapore. It’s also a place you’ll definitely want to be in if you are a foodie — way too much good food at every corner.
The Kallang BTO is in the midpoint of two MRT stations on the North-East Line (NEL). Both are within a 500m radius from the BTO. On top of that, there’s also the Downtown Line (DTL) at the Little India MRT, which will bring you to town in just five stops. You can also easily switch to the Bugis MRT in just two stops. Making this estate a pretty central spot to get to all parts of town within a short amount of time.
The Central Expressway (CTE) is also a short drive away from this BTO, making it very convenient for drivers all around Singapore.
If all this sounds familiar, it's because it's right across the road from the future Farrer Park Fields BTO launch from February 2023.
What You Might Not Like About This BTO
Similar to the BTO in Serangoon, the limited number of units at the Kallang BTO is one that aspiring homeowners will need to consider carefully.
With 570 units split between 3-room and 4-room units, we figure that there will, most likely, be more allocations to 3-room than 4-room units, making it even harder to get a larger space at this BTO. Should you want a 5-room unit, you’re automatically squeezed out of this BTO.
Just like Farrer Park Fields, this will be offered under the PLH model, which means a 10-year MOP. Despite the PLH restrictions, Farrer Park Fields was the most popular launch in February, with over 3 first-timer applications for each 4-room unit available.
Project Details
- Types of units available: 92 3-room and 477 4-room units
- Price range (excluding grants): $362,000 - $642,000
- Expected completion date: 4th Quarter 2027
Mortgage Master Rating
- Own Stay Potential: 9/10
- Resale Potential: 7/10
- Rental Potential: 7/10
- TOTAL SCORE: 23/30
No. 1: Bedok South Blossoms
BTO Name Prediction: Bedok South Heights, Bedok South Grand
Actual Name: Bedok South Blossoms
Source: HDB
What We Love About This BTO
Much like Serangoon, it has been seven years since a new BTO was launched in Bedok.
This Bedok BTO sits on the old site of HDBs that were enbloc-ed under the Selective Enbloc Redevelopment Scheme (SERS) in 2004. Today, they are relaunched as a new BTO project as part of the government’s plan to renew mature neighbourhoods.
The Bedok BTO is conveniently located to existing amenities at the neighbourhood centre along new Upper Changi Road. Yet, at the same time, it comes with a fresh 99-year lease. You get to enjoy the best of mature estates with a home that can last you beyond your lifetime.
There's also several reputable schools in the immediate vicinity like Temasek Primary School, Red Swastika School and St. Anthony's Cannossian (primary schools), Anglican High and Temasek Secondary School (secondary schools) and Temasek Junior College.
The plethora of housing type options at this Bedok BTO also gives aspiring homeowners a great deal of choices. This is especially important for families who are looking to stay with their parents in a 3Gen flat, which is becoming more rare nowadays!
With Tanah Merah MRT station being the closest, this BTO launch is also convenient for those travelling to Expo, Changi Business Park or Changi Airport regularly. The site is also near to the future Bedok South MRT Station on the Thomson East Coast line, which should be ready by 2025, long before you collect your keys.
What You Might Not Like About This BTO
New Upper Changi Road is known to be a major road block during peak hours. This is due to the amount of traffic that is heading towards Expo and Changi Business Park and the major road work that’s constantly happening en route due to the expansion of Tanah Merah MRT station.
Works are currently planned till 2025, but with Tanah Merah expected to become a significant transport hub comparable to Jurong East, expect human traffic to be just as much of a problem as vehicular traffic in the near future.
Project Details
- Types of units available: 144 2-room (Type 1 and Type 2), 120 3-room, 766 4-room, 573 5-room and 37 3Gen units
- Price range (excluding grants): $165,000 - $722,000
- Expected completion date: 3rd Quarter 2027
Mortgage Master Rating
- Own Stay Potential: 9/10
- Resale Potential: 7/10
- Rental Potential: 9/10
- TOTAL SCORE: 25/10
Deadline for BTO Application
Monday, 5 June 2023, 11:59pm
Planning The Finances For Your First Home
While you get excited by the prospect of becoming a homeowner in months to come, let’s not forget that the home ownership journey doesn’t just stop at applying for the BTO. You also need to plan your finances right so that you are able to afford it!
Engaging a mortgage broker can help you determine your affordability so you can avoid overleveraging on your future income. At the same time, a mortgage broker can help you to source for the best deal in the market to keep the cost of home ownership as low as possible.
At Mortgage Master, we know the latest home loan packages in the market and sometimes can even offer exclusive interest rate packages that you cannot get directly from the bank. Fill up our enquiry form and our mortgage consultants will follow up with a call.
