Come November 2022, Queenstown will be the site of 3 BTO launches comprising 3,250 flats. This is the second time this year that the estate will have a new BTO launch – the other was in May 2022 – but there are a lot more units offered this time around.
Being a mature estate located near the heart of Singapore, one can be certain that the upcoming November 2022 Queenstown BTO will draw tons of potential subscribers, even though there are thousands of flats available. Here’s a deep dive into the 3 locations offered if you’re considering a move to Queenstown.
November 2022 BTO launch in Queenstown
The three Queenstown BTO projects launching in November 2022 are quite spread out.
Image credit: HDB
In the coming weeks, HDB will launch around 9,500 new flats, of which 3,250 will be located in Queenstown. This is the largest launch in a neighbourhood this time around, surpassing Yishun’s 2,960 units just so slightly.
Some inspiration for your Queenstown HDB flat.
Image credit: Studio Periphery
There will be 2-room Flexi, 3-room, 4-room, and Community Care Apartments up for grabs. Notably missing are 5-room configurations that are popular amongst families, whereas the majority of the flats across the 3 locations are the 3- and 4-room types.
The “Lost Ark” forest hike is next to the Queensway BTO launch.
Image credit: TheSmartLocal
Another selling point is that all locations are situated near park connectors, including the famous Green Corridor that Singaporeans oh-so-love to visit during the weekends. The BTO project near Dover Forest would also benefit from the surrounding greenery that should cool down the environment naturally.
How much will the new BTOs cost?
While HDB has yet to release the prices of November 2022’s BTO launch, we can estimate the range at which the 3- and 4-room flats would cost based on previous BTO launches.
Taking May 2022 and August 2021’s Queenstown BTO projects into consideration, 3-room units in Queenstown could start from $360K up to $500K, while 4-room units could start from $510K up to $700K.
For reference, here is how much the BTO units cost in previous rounds:
Ghim Moh Ascent (May 2022)
- 3-room: $369K-$481K
- 4-room: $511K-$691K
Queen’s Arc (August 2021)
- 3-room: $382K-$464K
- 4-room: $540K-$670K
How popular will the units be?
As mentioned earlier, Queenstown is one of the most popular residential neighbourhoods in Singapore, and rightfully so. It is a mature estate, residents can get to town quickly, and there is a precedence of resale flats fetching insane values – we’ll talk more about that later. To gauge how popular Queenstown’s November 2022 BTO launch will be, let’s take a look at the past.
In May 2022’s BTO launch, there were 2,919 applicants vying for a meagure 671 units. This was nothing compared to August 2021’s BTO launch where there were 4,453 applicants to only 610 units.
However, it is important to note that May 2022’s launch was a PLH project, and the 10-year minimum occupation period (MOP) might have turned potential buyers off. On the other hand, August 2021’s BTO was not a PLH project, which might have contributed to the high subscription rate.
If nothing changes, the November 2022 BTO launch in Queenstown will see at least one of the 3 projects being a part of the PLH model.
Considerations for a Queenstown BTO
Buyers aren’t limited to just one location if they have their eyes set on Queenstown as a home base as this time around, there are 3 locations to choose from.
The first project will be located in Dover Forest, just opposite Singapore Polytechnic and Dover MRT.
Image credit: HDB
Future residents will have direct access to the East-West Line as well as a proposed park right next door. Taking a diploma at Singapore Polytechnic would also be easy peasy.
The second location is on Ghim Moh Close, in between Ghim Moh Road and North Buona Vista Road.
Image credit: HDB
Not only is Buona Vista MRT one junction crossing away, the hip Holland Village enclave is not too far down the road as well.
The third location is along Queensway and borders the Green Corridor.
Image credit: HDB
Alexandra Hospital is also next to this project, which might draw some demand for the flats from those working at the hospital, or those who want to rent to hospital staff.
Pro: Potential resale value
Aside from the prime location, plenty of potential BTO applicants will be eying the potential resale value of these Queenstown flats. After all, the most expensive HDB resale flat – so far – was sold here – so far. Property flippers can stand to make a hefty profit once their MOP is up, which brings up to our next point.
Con: Possibility of PLH model & 10-year MOP
The Prime Location Public Housing (PLH) model was announced a year ago and applies to certain BTO launches that will be located in prime locations like Queenstown and Bukit Merah. One of the key differences between a PLH BTO and a normal BTO is the longer MOP period of 10 years compared to 5.
This was put in place to deter buyers who are only interested in reselling their flat once the MOP is up. 5 additional years is a long time to wait, and judging by the application rates in August 2021 compared to May 2022, the PLH factor might have contributed to a slight dip in interest.
Nov 2022 HDB BTO launch: Why you should choose Queenstown
Two of the most hyped up BTO launches this November will be Queenstown and Kallang/Whampoa, thanks to their prime locations in mature estates and being near existing MRT stations. However, the latter BTO project will only have 470 units up for grabs, which means house hunters will stand a better chance balloting for a spot at Queenstown instead.
Keep your eyes peeled to this page if the Queenstown Nov 2022 BTO launch is something you’re interested in, as we’ll be updating this page as more information comes out in the coming weeks.
Read our other November 2022 BTO articles:
Cover image credit: HDB, TheSmartLocal