The November 2022 BTO launch is proving to be a banger. First, we saw how great the location was for Kallang/Whampoa’s site. Then, we checked out Queenstown to see how 3 projects integrated with the surrounding area. Now, we’re going to take a look at the 3 Yishun BTO launches that are nicely spaced next to each other.
Based on a straw poll we conducted earlier in the year, Yishun’s desirability was not that great at 15%, compared to Kallang/Whampoa’s overwhelming 44%. However, after weighing the pros and cons of the launch, here’s why we feel that the Yishun November 2022 BTO launch has plenty of potential, especially for residents who want affordable waterfront housing.
November 2022 BTO launch in Yishun – 3 locations in the same place
Image credit: HDB
HDB has gazetted a space next to Yishun Dam for not one, but 3 separate BTO projects. We don’t know the names of them yet, but for now, we’ll label them as Miltonia Close, Yishun Avenue 6, and Yishun Street 43.
The BTO site along Miltonia Close is the largest project with 1,330 units in 2-room Flexi, 4-, and 5-room configurations. The next biggest project is the one along Yishun Avenue 6 with 950 units in 2-room Flexi, 3-, 4-, and 5-room options. The smallest project is the one at the end of Yishun Street 43 with only 680 units that come in either a 2-room Flexi, 4-, or 5-room option.
Image credit: Google Maps
This November will also be the third time that HDB has launched new BTO flats in Yishun, bringing the total of new developments in the area up to 5,445. November’s launch is also the biggest for the area, as the previous ones – Yishun Boardwalk, Grove Spring @ Yishun, and Yishun Beacon – all had fewer units available.
Amenities around the Yishun November 2022 BTO launch
Image credit: TheSmartLocal
Thankfully the upcoming Yishun BTOs are all located around the same area, making our job of analysing the amenities a lot easier. The most obvious one would be the accessibility to Yishun Dam, as the scenic park is located right at the doorstep of the BTOs.
With panoramic views of Lower Seletar Reservoir, picturesque biking and walking trails, and tons of picnic spots to paktor with bae, we can be certain that this will be a hotspot for future Yishun residents.
However, many modern amenities like shopping malls and public transport interchanges are quite a ways away from the BTO site. The nearest mall is Wisteria Mall, and that’s still a brisk 15-minute walk from Miltonia Close. This is not surprising, considering Yishun is a non-mature estate that still has years of development to go.
Northpoint City and Yishun MRT are even further out, requiring a 30-minute walk just to get there. Surprisingly, Khatib MRT is closer to some of the BTO projects, needing only a 25-minute walk. However, both stations only serve the North-South line, and commuters will have to head to Bishan for the nearest interchange. There are no known plans for future lines in the area.
At least there’ll be buses, but residents will still be beholden to the whims of public transit schedules. The silver lining is that Khoo Teck Puat Hospital is within the neighbourhood, so any medical emergencies can be tended to with swiftness.
How much will the new BTOs cost?
Although SRX estimates the price of the new BTO flats at Yishun to cost between $190,000-$520,000, we’ll take a look at the prices of the launches earlier in the year for a closer look.
Yishun Beacon (May 2022)
- 2-room Flexi: $123K-$184K
- 4-room: $328K-$418K
- 5-room: $485K-$595K
Yishun Boardwalk / Grove Spring @ Yishun (February 2022)
- 2-room Flexi: $95K-$149K
- 3-room: $180K-$248K
- 4-room: $270K-$374K
- 5-room: $385K-$490K
Here are the prices of resale flats along Yishun Avenue 1, Yishun Avenue 6, and Yishun Street 51 for the last 12 months:
- 3-room: $310K-$455K
- 4-room: $338K-$565K
- 5-room: $470K-$720K
Looking at these numbers, it’s quite indicative that the units might command a nice profit should successful BTO balloters snag one of the larger-roomed units. The starting price of the flats are also quite reasonable and affordable when compared to the prices of the other locations like Queenstown and Kallang/Whampoa.
How popular will the units be?
Yishun might not give the impression that it’ll be a popular estate at first glance, but that couldn’t be further from the truth. If the Queenstown and Kallang/Whampoa BTO projects are classified as Prime Location Public Housing (PLH), it might lead to people choosing to apply for a BTO at Yishun instead thanks to its lower minimum occupation period and 5-room flat availability.
In fact, the last time a Yishun BTO launch was offered alongside a Queenstown PLH BTO launch in May 2022, more people gunned for a unit in the former rather than the latter. There were an average of 11 applicants to a 4-room flat at Yishun Beacon, while there were 3.9 applicants for a 4-room flat at Ghim Moh Ascent.
However, this is countered by the fact that the amenities around the Yishun BTO launch aren’t that great, whereas Yishun Beacon was located a short walk away from Yishun MRT. We wouldn’t expect a similar application rate for the upcoming Yishun BTO launches, but we have confidence that it’ll still be a hotly-contested ballot.
Here are the historical application rates for a better gauge of what you might be up against when the ballot opens.
Considerations for a Yishun BTO
Pro: Affordability compared to the other BTO estates
One of the most significant considerations of a Yishun BTO is its affordability compared to the other BTO estates. A 4-room flat in Queenstown would set you back $500K, whereas a similar unit in Yishun might only cost you around $300K.
Granted, those who reside in Queenstown pay more for the prime, mature location. But if access to IKEA isn’t at the top of your priority list, saving $200K or more for a roomy house might be totally worth it.
Pro: Availability of 5-room flats
If you’re on the hunt for a 5-room BTO flat, then you’ve come to the right place. For the November 2022 BTO launch, the 5-room configurations are only offered in Yishun, Bukit Batok, and Tengah, with Yishun most likely having the most number of 5-room flats available.
Pro: Waterfront views
Select units that face Yishun Dam will have some of the best waterfront views without having to live near the East or West coast.
Image credit: TheSmartLocal
With Lower Seletar Reservoir right on their doorstep, future residents here will also have easy access to the surrounding nature parks like Rower’s Bay Park.
Cons: Location
Unfortunately, the location for the Yishun November 2022 BTO launch is not the most desirable. There is no easy access to any MRT lines, nor are there any known plans for future mass transit developments in the immediate vicinity. Shopping malls are also quite a distance away, which means getting groceries will be more of a chore than a convenience.
Cons: Potential redevelopment of the surrounding area
While the surrounding area of the Yishun November 2022 BTO projects might be relatively sparse, there is a possibility that the area will be home to future developments. This will mean construction noises for certain affected blocks, and the scenic views could also be blocked.
One in particular would be the current Orchid Country Club. With its lease ending in 2030, it has been designated as a “reserve” site by the URA, which means it can be used for any development in the future.
Nov 2022 HDB BTO launch: Why you should choose Yishun
Yishun might not be the first choice for many future homeowners. But after taking into account the myriad of factors such as price, surrounding amenities, and location of the upcoming Yishun November 2022 BTO, the case for living in the Northside of Singapore becomes stronger.
With affordable starting prices, sweeping views of Lower Seletar Reservoir, and the availability of 5-room flats, Yishun might be a dark horse coming into this year’s BTO launches. Watch this space as we’ll update the review with more details about the launch once HDB releases them closer to November.
Read related BTO news:
- Queenstown BTO review
- Kallang/Whampoa BTO review
- Tengah BTO review
- Overview of November 2022 BTO launch
- New HDB cooling measures
Cover image credit: TheSmartLocal, HDB
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