2022 will be an interesting year, with the debut of the Prime Location Housing (PLH) flats, as well as demand being at a peak. On top of that, HDB has promised to ramp up production starting this year, to avoid the increasingly burdensome issue of oversubscription, or desperation pushing up resale prices in the future. For those deciding on if 2022 is the year to BTO, here’s what you need to know:
A quick note on why these aren’t complete site reviews yet:
Starting from May of 2021, HDB changed its practice of indicating sites six months in advance. We now only receive the information three months in advance. Until then, we won’t know the exact location, type, number of flats, etc.
Do follow us on Stacked for updates, however, and we’ll take a closer look at the BTO launch sites when the full information becomes available.
In the meantime, here’s what you need to know about the upcoming HBD BTO 2022 and 2023 launches:
- Production has been ramped up for 2022 and 2023
- The Kallang / Whampoa launch site is the most anticipated for February
- First BTO launch along Old Airport Road after almost 15 years
- Four towns in February, six towns in May
- Bukit Merah might be the PLH launch of the year
- Acknowledgement of the trend toward smaller households
- Cost is more of a factor for some, after cooling measures
1. HDB BTO Production Has Been Ramped Up for 2022 and 2023
The supply of BTO flats will be ramped up by 35 per cent, over 2022 and 2023. This comes to about 23,000 new flats, up from just 17,100 new flats last year. HDB also made the startling announcement that they’re prepared to launch up to 100,000(!) new flats from 2022 to 2025, should that prove necessary.
This is all due to increasingly heated complaints about oversubscription.
Between 2017 to 2020, for example, average over-subscription rates for non-mature estates rose from being 2.1 to 4.8 times oversubscribed. For mature estates, the oversubscription rate rose from 2.8 to 6.7.
The difficulty of securing a BTO flat may partly explain rising resale flat prices, which are now at an eight-year high.
Overall, ramped-up production will be good for genuine home buyers; Singaporeans purchasing BTO flats have a better chance this year. On the other hand, owner-investors – particularly those who already own their flats – might be worried about potential supply gluts in the future.
A large portion of these new flats will, at some point, join the supply of resale flats after the five-year Minimum Occupancy Period (MOP). That could put some downward pressure on resale flat prices, although the effect is much further down the road.
2. The Kallang/Whampoa Launch Site Is the Most Anticipated for February
The Kallang/Whampoa launch site is the most anticipated for February 2022.
It’s located at the intersection of King George’s Avenue and Jalan Sultan, within walking distance of River Peaks I & II (the pilot batch of PLH flats). As we’ve pointed out in an earlier article, PLH flats can cause an “across-the-street” effect, boosting properties sitting on the edge of PLH zones.
For example, the Kallang/Whampoa site is within walking distance of River Peaks; it shares many of the same advantages in terms of location. It’s a short distance to Lavender MRT on the East West Line, which is just a 5-minute walk. You also have the option of Jalan Besar MRT (which is connected to River Peaks) and is on the DT line and around 7-minutes walk. With only the inconvenience of a short walk, all the eateries and shops at River Peaks are also amenities to those living at the Kallang/Whampoa site.
The difference, however, is that the Kallang/Whampoa site only has a five-year instead of 10-year Minimum Occupancy Period (MOP), has no Subsidy Recovery (SR), and may even be priced lower than River Peaks.
As such, most buyers have been quick to surmise that this site offers PLH-level amenities, with none of the PLH restrictions – the fact that future buyers are also likely to pick up on (the 10-year MOP applies even to buyers who purchase PLH flats as resale).
This simple fact has made the Kallang/Whampoa site one of the most anticipated. But with only 398 units of 3-room and 4-room flats, we think it’s a long shot for most buyers. The estimated date for completion of the King George’s Heights HDB BTO project is Q3 2027.
Kallang/Whampoa HDB BTO Site Overview
Name: King George’s Heights
Units: 398 (104 3-room units, 294 4-room units)
Price: 3-room units starting at $353,000, 4-Room units starting at $488,000
Transport: Lavender MRT and Jalan Besar MRT
Nearby amenities: Jalan Besar Stadium and Swimming Complex, Kitchener Complex and Jalan Besar Plaza, Mustafa Centre, Golden Mile Food Centre, and City Square Mall.
Nearest schools: Bendemeer Primary School, Farrer Park Primary School and Stamford Primary School.
3. First BTO Launch Along Old Airport Road After Almost 15 years
The BTO launch in Geylang is right across the road from the famous Old Airport Road Food Centre, where Old Airport Road meets Jalan Enam.
This is the first time we’ve seen a BTO launch here in a long while – the most recent flats we can think of here are Pine Close and Pine Green, which were completed in 2000 and 2005 respectively. Some of the other nearby flats here, like Blocks 93 to 95 along Old Airport Road, date all the way back to 1969!
This is the next most “in-demand” launch site for February, thanks to Dakota and Mountbatten MRT (both on the Circle Line) being just a five-minute walk. It may even trump Kallang/Whampoa as a choice for parents, as this launch site has plenty of top schools nearby – Broadrick Secondary is next door, while Chung Cheng, Dunman High, and Tanjong Katong Girls’ School are all in the priority enrolment range.
By comparison, the Kallang/Whampoa site has no schools in close proximity.
There are only 440 units of 2, 3, and 4-room flats, so we’d be surprised if this isn’t oversubscribed four or five times over.
Geylang HDB BTO Site Overview
Name: Dakota Crest
Units: 443 (40 2-Room Flexi (Type 1), 81 2-Room Flexi (Type 2), 80 3-Room units, 242 4-Room units)
Price: 2-Room Flexi starts at $205,000, 3-room at $352,000 and 4-room $522,000.
Transport: Dakota MRT, Mountbatten MRT
Nearby amenities: City Plaza, Kallang Squash & Tennis Centre, Mountbatten Community Club, Old Airport Road Food Centre & Shopping Mall and Kallang Wave Mall.
Nearest schools: Broadrick Secondary School, Dunman High School, Chung Cheng High School, Tanjong Katong Secondary School, Tanjong Katong Girls’ School and Kong Hwa School.
4. Four Towns in February, Six Towns in May
As HDB now releases exact site locations only three months ahead, we only know the town names for May – nothing more specific.
For February, we already know its four towns: the two “rock star” locations of Geylang and Kallang/Whampoa above, plus two non-mature locations in Yishun and Tengah.
Tengah HDB BTO Site Overview
Tengah is intended to be a green and car-free town. For example, the town will have a central park that is surrounded by residential blocks. These blocks will be connected by sky gardens and open spaces, creating a series of green corridors throughout the town. In addition, Tengah will include a pedestrian-only town centre and a network of cycle paths and walkways.
The Tengha HDB BTO launch consists of two projects
Name: Plantation Creek and Parc Flora @ Tengah
Units: Plantation Creek 713 units (377 4-room units, 336 5-room units)
Parc Flora @ Tengah 560 units ( 25 2-Room Flexi (Type 1), 76 2-Room Flexi (Type 2), 85 3-Room, 193 4-Room, 181 5-Room units. )
Price: 2-Room Flexi starts at $132,000, with a 5-room unit at Plantation Creek from $420,000
Transport: Tengah MRT
Nearby amenities: Tengah is currently under development, and it will include a town center, parks, and other amenities. With its innovative design and sustainable features, Tengah is set to become a model for future developments in Singapore.
Nearest schools: Choa Chu Kang, Concord, Shuqun, Dazhong Princess Elizabeth Primary Schools. Bukit Batok, Dunearn, Hua Yi, Jurongville secondary Schools and Dulwich College.
Yishun HDB BTO Site Overview
The Yishun HDB BTO launch consists of two projects
Name: Yishun Boardwalk and Grove Spring @ Yishun
Units: Yishun Boardwalk 852 units ( 42 2-Room Flexi (Type 1), 140 2-Room Flexi (Type 2), 80 3-Room, 313 4-Room, 277 5-Room units)
Grove Spring @ Yishun 987 units ( 56 2-Room Flexi (Type 1), 140 2-Room Flexi (Type 2), 82 3-Room, 373 4-Room, 336 5-Room units)
Price: 2-Room Flexi starts at $95,000 at Yishun Boardwalk, with a 5-room unit from $385,000 at Grove Spring @ Yishun
Transport: Yishun MRT
Nearby amenities: Sungei Khatib Bongsu Park Connector, Yishun Pond, Yishun Town Square, Yishun Swimming Complex, Yishun Park Hawker Centre, Khatib Bongsu Nature Park.
Nearest schools: Xishan Primary School, North View Primary School, Huamin Primary School, Yishun Town Secondary School and Northland Secondary School.
If these don’t appeal to you, May has a much wider selection:
- Bukit Merah (Mature)
- Jurong West (Non-mature)
- Queenstown (Mature)
- Tampines (Mature)
- Toa Payoh (Mature)
- Yishun (Non-mature)
There are potentially up to 5,700 new units for May (up from around 3,930 in February), so you stand better chances for balloting in general.
We notice, interestingly, that HDB has decided not to push Tengah for May. Surprisingly, as we’ve seen Tengah crop up in launch after launch consecutively.
5. Bukit Merah Might be the PLH Launch of the Year
HDB has said they aim for one PLH launch every year, and right now, the smart money is on the Bukit Merah site. We have the full details in this article.
This launch site is squarely within the Central Area, and is a short eight-minute drive to Orchard Road; you can even bike there in about 11 minutes. It’s also an estimated 8 to 10-minute walk from Redhill MRT (depending on the location of your block), which puts Holland Village and Raffles Place within four train stops on the North-South Line.
It is very unlikely such a location would be considered non-prime. In terms of convenience, this site easily rivals River Peaks; and many resale 4-room flats in Bukit Merah already average $740,000.
On the upside, we understand the plot can yield as many as 1,500 new homes, which improves balloting odds. Those who don’t mind PLH drawbacks might want to keep an eye on this one (if you can’t get Kallang/Whampoa in February).
6. Acknowledgement of the Trend Toward Smaller Households
Part of the reason for raising production is the rising number of homeowners, coupled with smaller household sizes. With fewer Singaporeans starting families, it seems the authorities are beginning to accept that we’ll have more singles and couples moving out and buying their own flats.
This could see a trend with more, but smaller, flats being built. It will at least answer the increasingly vocal calls among singles or lifelong singles, who have been rather ignored until recent years (e.g., even the PLH flats exclude singles from purchasing them).
With recent changes, singles may finally see housing policies bend more toward them.
7. Cost Is More of a Factor for Some, after Cooling Measures
Just a quick reminder for homebuyers in 2022 that new cooling measures are in place.
For those using an HDB housing loan note that the maximum financing has fallen to 85 per cent of the flat’s price, rather than the previous 90 per cent – so you should make sure you can cover at least 15 per cent of the total cost for the down payment.
(There’s no change for those using bank loans, it remains at 75 per cent).
Most Singaporeans end up paying more than 15 per cent down, however, so we don’t see it being an issue for the majority.
For more on the HDB launch sites as they crop up, follow us on Stacked so we can provide you with early notifications. You can also check out in-depth reviews of new and resale condos alike if you want a private alternative.
FAQs
What should I know about the upcoming BTO 2022 launches?
The new HDB housing launches are a big deal, as they represent some of the most affordable and desirable homes in Singapore. There are several things to keep in mind when considering any BTO launch. First, you should be aware of the different types of units that will be available and how they might fit into your budget and lifestyle needs. Additionally, it’s important to consider factors like location, proximity to public transit and amenities, and community features when choosing a home.
What are BTO flats?
A BTO flat, also known as a Build-to-Order flat, is a type of new housing that is constructed directly by the government. These affordable homes are available to Singaporeans and Permanent Residents and are sold at HDB launch sites. BTO flats typically offer modern amenities and feature efficient layouts with flexible living spaces that can be customized to your needs.
When will the next HDB launches take place?
The exact dates for the next HDB launches have not been confirmed yet, but it’s expected that there will be several opportunities to purchase these units throughout 2022. You can stay up to date on the latest news and announcements about these BTO launches by subscribing to and following our Site.
How much does an HDB BTO flat cost?
The price of a BTO flat depends on several factors, including the size of the flat, the location, and the amenities. For example, a three-room flat in a remote location might cost around $250,000, while a four-room flat in a prime location could cost upwards of $400,000. Ultimately, the price of an HDB BTO flat is determined by demand and supply. However, there are government subsidies available for eligible buyers, so it is worth doing your research to see if you qualify for any assistance.
What are the different types of BTO flats?
Typically BTO flats are available as 2-room, 3-room, 4-room, or 5-room units.
What is a 2-room Flexi BTO flat?
Two-room BTO flats are compact single-person or couple residences. There are two different sizes available, each measuring 36 square meters and 45 square meters. They typically include a bedroom, living and dining room, bathroom, and kitchen.
Under the 2 Room Flexi Scheme, these flats are intended primarily for the elderly. Buyers over the age of 55 can opt for a shorter lease, hence the term ‘Flexi.’
Are BTO Projects only for first-time buyers?
No, BTO Projects are not only for first-time buyers. However, there are some benefits that first-time buyers can enjoy, such as additional subsidies and the possibility of getting a higher priority in the ballot. To learn more about the different programs available to first-time HDB buyers, be sure to visit the official HDB Flat Portal.
At Stacked, we like to look beyond the headlines and surface-level numbers, and focus on how things play out in the real world.
If you’d like to discuss how this applies to your own circumstances, you can reach out for a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com — we read every message.
Frequently asked questions
What should I know about the upcoming BTO 2022 launches?
What are BTO flats?
When will the next HDB launches take place?
How much does an HDB BTO flat cost?
What are the advantages of the Kallang/Whampoa BTO site?
Why is there an increase in BTO flat production in 2022 and 2023?
