What you need to know now about Singapore’s May Build-to-Order exercise

Find out which projects are likely to see the toughest competition.

A total of 4,583 new flats are now for sale under the Singapore Housing and Development Board's (HDB) May 2022 Build-to-Order (BTO) exercise.

According to PropNex, this launch will provide ample opportunities for applicants who are interested in living in the central region - with a large offering of mature estate flats (2,921 units) available across Bukit Merah, Queenstown and Toa Payoh. This would also be the first BTO exercise which features two Prime Location Public Housing (PLH) model projects being launched jointly in an exercise. 

"Competition will likely be the stiffest for the BTO PLH flats in Bukit Merah and Queenstown owing to their location near the city, which will appeal to those who want to be closer to parents living around the area as well as those who work in the central business district - being just a few MRT stops from Raffles Place and City Hall," says Propnex Realty CEO Ismail Gafoor.

Here's more from PropNex:

Bukit Merah

The Bukit Merah Ridge BTO project will offer 1,669 flats under the PLH model. It is situated about 5 to 7 minutes’ walk from the Tiong Bahru MRT station and applicants will likely be attracted to the convenience of the location along with the numerous amenities and schools available in the vicinity.

The previous PLH flats in Rochor and Kallang Whampoa saw overwhelming demand, especially for the 4-room flats, with subscription rates reaching 10.3 and 17.5 times respectively (see Table 1). We can similarly expect strong demand for the PLH project, Bukit Merah Ridge with subscription rates likely to exceed 5 and 10 times for the 3-room and 4-room flat types, respectively.

Queenstown

The other PLH model BTO project launch is situated in Queenstown within the Ghim Moh neighborhood. The 867 new flats in Ghim Moh Ascent is located less than 10 minutes’ walk from the Buona Vista MRT interchange station, which connects commuters to the city and other regional work centres via the East-West Line and Circle Line. The project also puts families within 2-km distance to popular schools like Anglo-Chinese School (ACS) (Independent), Henry Park Primary School, and Fairfield Methodist Primary School. It is also situated near the one-north R&D precinct, Holland Village, and the future Dover Innovation District.

In comparison to the other PLH model project at Bukit Merah, Ghim Moh Ascent’s location and proximity to amenities can be considered fairly on par. We expect subscription rates to match that of the Bukit Merah PLH project - likely to exceed 5 and 10 times for the 3-room and 4-room flat types, respectively.

Toa Payoh

Kim Keat Heights at Toa Payoh is the only other mature estate project which does not fall within the PLH model scheme in this BTO exercise. This project should still receive healthy interest from those who wish to live in the central region. It also provides the fewest flats amongst the BTO projects in this launch, with only 385 units available. The project is 15-minutes’ walk to the Braddell MRT station and is well-connected via bus services to amenities in the greater Toa Payoh area.

Previous Toa Payoh BTO projects, Bartley GreenRise, ParkEdge @ Bidadari and Alkaff Breeze (February 2021) saw high subscription rates of 4.8 and 5.9 times (see Table 1) for the 3-room and 4-room flats respectively. We anticipate similar or higher subscription rate for this BTO project due to its attractive location.

Non-mature estates

The other BTO offerings are in non-mature estates in Yishun and Jurong West. This launch marks one of the fewest non-mature estate flats being offered for sale in recent BTO exercises at 1,662 units. These flats should garner fair interest among applicants given their relatively more affordable entry prices.

Of the two projects, Lakeside View, the 1,016-unit project in Jurong West is expected to be more popular given that it is less than 10 minutes’ walk from the Lakeside MRT station and is situated next to the future Jurong Lake District. Furthermore, residents may even enjoy water views to the pristine Jurong Lake.

Meanwhile, Yishun Beacon – which offers 646 flats - is expected to draw interest from applicants who do not wish to wait too long to get the keys to their home. The project has the shortest estimated completion time of 39 months.