BTO Launch Review (June 2024) – What Can We Expect?

The first wave of Build-To-Order (BTO) flats launched in February 2024 were generally well received by the public, receiving an application rate of about 2.5 times (10,521 applications for 4,126 units). The application rate even peaked at 5.2 times (with 1,300 applicants for 251 units) for the Tanglin Halt Courtyard project, under the Prime Location Public Housing (PLH) model.

The HDB plans to keep momentum with the next BTO launch in June 2024. This launch will comprise 6,830 flats across a mixture of six mature and non-mature estates, namely Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands, and Yishun. This marks the last BTO launch where flats are still classified under mature/non-mature estates. In the following October BTO launch, the BTO flats will be reclassified as “Standard”, “Plus” and “Prime” flats.

List of projects under the June 2024 BTO launch

Source: HDB, ERA Research and Market Intelligence Here are highlights from this launch:

• A long-awaited BTO in Queenstown, with its first public housing launch in over a decade
• The Kallang Whampoa (Tanjong Rhu) BTO, which is the first BTO project in the area in 60 years
• Yishun (Chencharu), a new residential area along Sembawang Road, former location of Orto leisure park

Jurong East (Non-Mature Estate)

Nestled at the intersection of Teban Gardens Road and Jurong Town Hall Road, the project offers 1,070 units in 2-room flexi, 3-room, 4-room and 5-room configurations. Picture 1: Map view of the June 2024 Jurong East BTO site

Source: HDB, ERA Research and Market Intelligence

This upcoming Jurong East BTO development looks to provide more housing options to support the development of the Jurong Lake District (JLD), which is set to transform into Singapore’s second and largest business centre outside the Central Business District (CBD). Therefore, securing a unit here would be attractive to those working in jobs and industries there. The project will be across the future Pandan Reservoir MRT Station on the Jurong Regional Line, upon completion in 2027. Located 2 stops from Jurong East MRT station, residents can reach the city centre in under 30 minutes. With the JLD set to transform into Singapore’s second and largest business centre outside the CBD, securing a unit here would be attractive to those working in jobs and industries there. Notable amenities near this project include Teban Neighbourhood Park, Pandan Reservoir Park and Pandan Gardens Leisure Park. These amenities should provide a green view for higher-floor units.

Kallang/Whampoa (Mature Estate)

This project, which will be situated along Kampong Arang Road, attracted significant interest earlier this year. This is due to its prime location, being the first HDB project in the area in 60 years. Picture 2: Map view of the June 2024 Kallang/Whampoa BTO site

Source: HDB, ERA Market Research and Intelligence

These Tanjong Rhu projects present a new inventory of residences in an area that has awaited public housing expansion for some time. A highlight of this project is the stunning view and quiet location, with views of the Geylang River waterfront and the Sports Hub in Kallang. The site will be located near Tanjong Rhu, Katong Park and Mountbatten MRT stations, which allows commuters to reach the CBD in 15 minutes. There will be 2,020 units launched in two plots, comprising 1,400 and 620 units respectively. A selection of 2-room flexi, 3-room, and 4-room flats will be offered. While the area is sparse, we can expect further development in the future. In the meantime, the project will include basic amenities like dining options and supermarkets. The attractive locality of this project leads us to believe that it will fall under the Prime Location Public Housing Model (PLH). This means that residents can enjoy additional subsidies, albeit with quirks such as a subsidy clawback upon resale, and a longer Minimum Occupation Period (MOP) of 10-years.

Queenstown (Mature Estate)

The second and last entry on our list that is anticipated to fall under the PLH model is the upcoming project in Queenstown. Picture 3: Map view of the June 2024 Queenstown BTO site

Source: HDB, ERA Research and Market Intelligence

This coveted location is walkable from both Holland Village and Buona Vista MRT stations. This makes it a fantastic location for those working at Science Park and the One-North precinct, being a mere 5-minute MRT ride away. It is also close to established educational institutions such as Anglo Chinese School (International). The National University of Singapore is also located just 10 minutes away via the Circle Line. There are a wide variety of food choices available from restaurants to popular cafes and food centres, such as Holland Village Market and Holland Drive Market. All of which are a short walk from the project site. With only 330 units being released in June, which comprise 110 2-room flexi flats, and 220 4-room flats, there is sure to be fierce demand considering the popularity of the area.

Tampines (Mature estate)

The site is located at the corner of Tampines Avenue 1 and Tampines Street 92, offering fantastic accessibility while retaining a charming neighbourhood vibe. Picture 4: Map view of the June 2024 Tampines BTO site

Source: HDB, ERA Research and Market Intelligence

This project looks to attract people who work in the many aviation and technology jobs available in the East – in areas such as Changi Business Park and Changi Airport. A 7-minute walk from Tampines West MRT (along the downtown line), situated just one stop away from Tampines Regional Centre, residents can enjoy a comprehensive range of amenities available there. Tampines is known for its retail options: between the shopping malls at Tampines central and Tampines retail hub, there is no shortage of places to shop and dine for residents there. There are many schools within enrolment priority distance here, notably St. Hilda’s Primary and Secondary. Temasek Polytechnic is just an 8-minute bus ride away. This BTO launch will see 550 units released, with 2-room flexi, 4-room and 5-room options.

Woodlands (Non-Mature Estate)

The first of two north-side projects in this June launch, the Woodlands BTO site will be at the intersection of Marsiling Lane and Admiralty Road. Picture 5: Map view of the June 2024 Woodlands BTO site

Source: HDB, ERA Research and Market Intelligence

This project stands out from the others in June by being the furthest away from an MRT station. Woodlands and Woodlands North MRT stations are 2km away. To make up for the lack of convenience, the project looks to offer essential amenities to its future residents, such as eateries, shops, and a supermarket. Schools in the area include Republic Polytechnic and Riverside Secondary School. The project will consist of 1,590 units. With such a large number of units available, applicants will have a better chance of securing their dream home. Future residents can look forward to the continued development of the Woodlands Regional Centre, and the anticipated Rapid Transit System, and the future completion of the North-South corridor, which will drastically improve connectivity to central locations in Singapore. The is also the only development of the June launch to feature the 3Gen unit size. The other flat options include 2-room flexi, 3 room, 4 room and 5 room flats. This project should cater nicely to those who specifically need a 3gen flat or current Woodlands residents looking for a new flat.

Yishun (Non-Mature Estate)

Last on the list of June launches is Chencharu, a brand-new residential area in Yishun. Situated along Sembawang Road, it is near the location formerly occupied by Orto Leisure Park. Picture 6: Map view of the June 2024 Yishun BTO site

Source: HDB, ERA Research and Market Intelligence

Being an entirely new housing zone, there are no nearby facilities. The project will come with amenities such as eating houses and shops, as well as a childcare centre. The surrounding area will be redeveloped to introduce amenities like a park, nursing home, and place of worship. As this development is to be built as part of an upcoming estate, the area currently suffers from a lack of connectivity. It is a 15-minute walk from Khatib MRT station. However, we can expect new and additional bus services to provide connectivity to future residents when the time comes, like what we saw in Tengah recently. There will be 1,270 units on offer, in configurations like 2-room flexi, 3-room, 4-room, and 5-room flats. As BTO flats constructed in Yishun in recent years have been remote and inaccessible to the town’s MRT stations, this Chencharu development is a breath of fresh air. It allows applicants interested in living in Yishun to score a new flat nearer to an MRT. Disclaimer for consumers This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salespersons accept no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.