For those looking to get their first property, BTO is usually top on the list.
BTOs are deemed the base properties to purchase or invest in a young couple or family in Singapore. Pricing are subsidised by the government and most would make a profit when it is possible to sell after the usual 5 years Minimum Occupation Period.
The good news is that there is not one but seven BTO heading your way in Aug 2021.
There is a total of 4940 flats offered across seven projects in five estates. Among the estates are three mature and two non-mature estates.
Here are the details of the BTO launching in Aug 2021.
Hougang Citrine: 749 units (Hougang)
This development is a 749 unit located at Hougang Ave 1. It has Paya Lebar Methodist Girls School and Xinghua Primary Schools within 1 Km
2 Room Flexi
Total 749 units
Kovan Wellspring - 586 Units (Hougang)
This development is bounded by Upper Serangoon Road, Tampines Road and Hougang ST 21. It is located within walking distance to Heartland Mall, Kovan MRT and half a dozen primary schools including Paya Lebar Methodist Girls and Rosyth within 1-2km.
In our opinion, it will be one of the most sought after BTO given its favourable location near amenities.
2 Room Flexi
Total 586 Units
Toh Guan Grove: 569 units (Jurong East)
The Jurong East BTO is located near Jurong Lake with easy access to PIE and AYE. Fuhua Primary and Yuhua Primary School is within 1 km of the development
2 Room Flex
Total 569 Units
Towner Residences: 316Units (Kallang / Whampoa)
Located in a mature estate, the Kallang / Whampoa BTO has 2 primary schools located within 1 km to it. Bendemeer Primary and Hong Wen School are within the vicinity. It is also located a street away from Boon Keng MRT and Bendemmer Shopping Mall, Market and Food Center.
Total 316 Units
Queen's Arc : 610 (Queensway)
Queenstown BTO is located along Queensway. IT is located near Queensway Shopping Center and within 1 km to Queenstown MRT.
Total: 610 Units
Tampines Green Jade :546 Units (Tampines)
The buzz on Tampines is the new EC GLS on Tampines St 62 that had attracted a record-breaking bid of $659 psf. This would mean that the launch prices for EC will be at a whopping $1200 psf!
For Tampines fans, the best alternative to this would be a BTO.
This new BTO will be located next to Bedok Canal with views of Bedok Reservior. Additionally, it is located near Tampines West MRT. It has 5 primary schools within 1 km including St Hilda's Primary, Red Swastika School and St Anthony's Canossian Primary
Price-wise, it will definitely be much more affordable than the new EC @ Tampines ST 62
Total: 546 Units
Tampines Green Quartz : 1613 Units (Tampines)
The biggest BTO is located across the road from the other Tampines BTO. It is located within 1 Km to Tampines West MRT with 5 primary schools within 1km. There will be a whopping 1613 units up for selection on this site.
2 Room Flexi
While the locations for the new BTO are considered attractive, it is also noted that BTO in matured estate tends to be oversubscribed.
Is BTO your only option as a newly wed or young family?
While BTO is an attractive option to start your property journey, there are other considerations.
1) BTO requires a Minimum Occupation Period of 5 years from the time you collect your keys, and does not include any period that you are not residing in the flat
2) You would not be able to rent out the whole flat during MOP
3) You will not be able to ourchase any form of private property
4) Due to COVID-19 , the wait for BTO to be completed can be as long as 5 years. So for a couple, you might not be able to get a private property for the next 10 years ( inclusive of MOP)
5) In the next 10 years, as Singapore population ages, the supply of resale HDB flats should increase. At the same time, due to our low birth rates, the demand for such flats would increase. As a result, the 'guaranteed' profits from BTO might not be as large as one would have anticipated. Moreover, with limited GLS and increasing prices of new private property, the returns might be lesser than compared to private property price increases.
So while the low base price of BTO and the almost guarantee profit sounds attractive, if one has sufficient funds and options, taking the private property route might be worth consideration.
So is BTO the right option for you?
To start your property journey, speak with us today to clarify your doubts.
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