If you’ve been waiting with much anticipation and bated breath for the final BTO exercise of 2022, then you’ll be pleased to know that the wait is finally over! Launched just yesterday, the Nov 2022 BTO and SBF exercise will be open for all eligible homebuyers to put in applications for a new BTO or SBF flat, until 1st Dec 2022.
If you’re in the market for a new flat, here are 5 things that you need to know before sending in your application.
Largest-ever BTO/SBF launch
The final HDB sales launch of 2022 will see around 9,655 new BTO flats up for sale, spread across mature and non-mature estates in Kallang/Whampoa, Yishun, Queenstown, Bukit Batok and Tengah. According to HDB, this is the single largest BTO offering ever in the history of BTO launches, which is pretty remarkable.
Image adapted from: HDB
In addition, there will be another 1,071 units up for offer, under the Sale of Balance Flats (SBF). So if you didn’t manage to snag a flat in the estate of your choice at the previous launches, this might be your chance.
Overall, a total of 10,726 flats are being launched in this round of flat sales. In case you missed it, you can check out our comprehensive guide of the Nov 2022 BTO exercise, which has a breakdown of all the estates up for sale!
If you’re a first-time flat buyer, you’ll stand a higher chance of success if you apply for a flat in a non-mature estate given that there’s a higher proportion of such flats being offered, on top of additional ballot chances for first-timers.
3 estates under Prime Location Public Housing Model
Of the many projects being launched during this month’s BTO exercise, 3 of them will be under the Prime Location Public Housing (PLH) model: Ulu Pandan Banks, Ghim Moh Natura (under Queenstown), and Kallang Horizon (under Kallang/Whampoa).
Just to recap, there are several main differences between PLH flats and ordinary flats, chief of which being that PLH flats have a Minimum Occupation Period (MOP) of 10 years, as compared to the usual 5 years.
In addition, homeowners of PLH flats cannot rent out their units even after MOP, and they’ll have to return a certain percentage of the resale price or valuation – whichever is higher – back to HDB when they eventually choose to sell their unit.
Of course, it’s not all bad news, as successful PLH flat applicants will also receive additional subsidies on top of the usual subsidies already available. All this is done so that HDBs in prime locations like Kallang/Whampoa and Queenstown will remain affordable and accessible for Singaporeans.
Artist’s impression of Queensway Canopy.
Image credit: Desmond Lee
Interestingly, not all the projects being launched under the Queenstown estate fall under the PLH model.
For this month’s exercise, Queenstown will have 3 projects launched: Ulu Pandan Banks, Ghim Moh Natura, and Queensway Canopy, and only the first two will come under the PLH model. According to Minister for National Development Desmond Lee, this is because Queensway Canopy is located further away from the main transport nodes and major retail amenities, and so essentially is “less prime” than its two other Queenstown counterparts.
Slightly longer application period
Unlike past BTO launches, November’s exercise will have a slightly longer window for Singaporeans to put in their applications. This is in view of the wider range of flats available for selection, as well as the anticipated higher interest in BTO offerings.
Artist’s impression of Vanda Breeze at Yishun.
Image credit: Desmond Lee
Take note that the application window is already open, and will close at 11.59pm next Thursday, 1st December 2022. This amounts to 9 days, up from the typical 7 days of past launches.
Significantly longer waiting times for BTO completion
According to HDB, the BTO project with the shortest waiting time is Garden Waterfront I & II at Tengah, at about 3.3 years or 40 months.
Garden Waterfront at Tengah. Image credit: HDB
Otherwise, the median time of most BTO projects being launched is about 4.5 years, which means that the longest waiting time could potentially be up to 5.7 years Of course, this is subject to change, and HDB caveats that “projects with a large number of dwelling units, higher storeys, challenging site conditions or more complex designs may take a longer time to complete”.
5. Affordable prices for flats in both non-mature and mature estates
Image credit: HDB
HDB has also published the indicative prices of BTO and SBF flats being offered. Here’s a snapshot of the prices of several unit types, across the 5 estates being launched:
- West Glades @ Bukit Batok – From $309,000
- Garden Waterfront I & II @ Tengah – From $307,000
- Vanda Breeze, Miltonia Breeze & Aranda Breeze @ Yishun – From $248,000
- Queensway Canopy – From $551,000
- Kallang Horizon – From $509,000
- Ghim Moh Natura & Ulu Pandan Banks @ Queenstown – From $516,000
- West Glades @ Bukit Batok – From $405,000
- Garden Waterfront I & II @ Tengah – From $428,000
- Vanda Breeze, Miltonia Breeze & Aranda Breeze @ Yishun – From $366,000
If this round’s BTO offerings aren’t exactly to your liking, then you can of course put your name down for an SBF flat instead. The indicative prices of SBF flats are as follows:
Image adapted from: HDB
Subsequent BTO launches set for February and May 2023
If somehow all these offerings just leave you feeling meh, then you can wait for the subsequent BTO sales exercises, which was just announced that they’ll happen in February and May next year.
In February 2023, HDB will launch over 4,400 BTO flats in estates such as Jurong West, Tengah, Kallang Whampoa, and Queenstown. In May 2023, there will be approximately 3,800 – 4,800 flats launched in places like Tengah, Bedok, Kallang Whampoa, Serangoon, and Queenstown. More details about the launches will be made available closer to the date.
Ulu Pandan Banks. Image credit: HDB
If you’re planning to submit an application for November 2022’s BTO/SBF launch, then rest assured that you have plenty of time between now and next Thursday to do so. After all, just as HDB has also emphasised, applications are shortlisted using a computerised ballot system, and certainly not the case that it’s a first-come-first-served manner.
Read more of our guides to the November 2022 BTO exercise here:
- Why Bukit Batok Should Be On Your Radar For The Nov 2022 HDB BTO If You’re A Westie
- 3,000 BTO Units To Be Launched In Ulu Pandan, First 1,330 Units On Offer This November 2022
- Why You Should Choose Kallang/Whampoa For The Nov 2022 HDB BTO For The Best Of Both East & Central
- November 2022 BTO Exercise: 9,500 HDB Flats Up For Grabs In Kallang, Queenstown, Tengah & Yishun
Cover image adapted from: HDB