3,870 units will be launched in HDB’s May 2021 BTO exercise. It will comprise four projects across two mature and two non-mature estates. Besides Bukit Merah, HDB will launch a project in the mature estate of Geylang with 1,380 units of 2-room Flexi, 3-room and 4-room flats.
Here’s 99.co’s detailed review of the May 2021 BTO at Geylang
Project name: To be announced
Location: Along Paya Lebar Road
Classification: Mature estate
Number of units: 1,380 units (2-room Flexi, 3-room and 4-room flats)
Number of blocks: To be announced
HDB’s estimated completion date: To be announced
Indicative price range:
HDB will only announce the price ranges during the launch itself. In the meantime, we’ve estimated them based on the nearby resale transactions and launch prices from the recent BTO launches.
| Price range | |
| 3-room | S$320,000 – S$370,000 |
| 4-room | S$450,000 – S$550,000 |
Source: SRX. These estimations take into account property age and location. If a launch is nearer to an MRT or commercial development, it’s likely to be more expensive.
The last launch in the estate was less than a year ago in August 2020 for Dakota One. It was also when we saw one of the highest application rates in recent years, as 4-room flats were oversubscribed by 19.1 times. So we can expect this project to be really popular as well.
Without further ado, let’s dive into the pros and cons of the May 2021 Geylang BTO project.
May 2021 Geylang BTO — The Pros
Accessibility
- The main highlight of this project is that it’s located right next to MacPherson MRT, which is an interchange for Circle Line and Downtown Line. These make the Geylang BTO one of the most accessible projects.
- Tai Seng, Ubi and Paya Lebar will just be one stop away by train — suitable for those working in these commercial and industrial districts.
- Since Paya Lebar is just one stop away, this means that you can switch to the East West Line quickly. Coupled with North East Line just three stops away, you’ll have easy access to four MRT lines.
- Working in the CBD? You can reach your workplace in 20 minutes by train via the Downtown Line.
- For drivers, the Pan Island Expressway is just a few minutes drive down the road.
Food and retail amenities
- Compared to the Bukit Merah BTO, there’s more variety in markets and hawker centres in the vicinity of this project.
- The closest ones are Circuit Road Market & Food Centre (four-minute walk) and MacPherson Market & Food Centre (nine-minute walk). If you’re willing to travel a little further, Geylang Serai Market & Food Centre is just 17 minutes away by bus.
- Looking for more food and retail options? You don’t have to head down to town as PLQ Mall, Paya Lebar Square and SingPost Centre are all just one stop away.
Childcare centres
- The area is also relatively child-friendly, given the number of childcare centres in the vicinity. The nearest childcare centres, E-Bridge Infant Care & Pre-School and My First Skool located at Circuit Road, are both within a 10-minute walking distance.
Healthcare facilities
- Geylang Polyclinic will just be a 15-minute bus ride.
- For more comprehensive healthcare services, the nearest hospital is at Parkway East, which is 12 minutes away by car.
Price appreciation
- Flats in mature estates, especially the newer ones, have always been in high demand. Like many BTOs in mature estates, we can expect a healthy price appreciation for this Geylang BTO after MOP.
- In fact, a 4-room flat along the nearby Circuit Road fetched as high as S$800,000 in November last year.
May 2021 Geylang BTO — The Cons
Oversubscription
- As seen from last year’s application rates, Geylang is one of the most popular estates. So it won’t be surprising that this project will be highly sought after as well. Though it probably won’t be as oversubscribed as the Bukit Merah BTO, since the latter is close to the Greater Southern Waterfront.
Type of flats
- If you have (or plan to have) a bigger family, you might want to consider the Tengah BTO or Woodlands BTO instead. Similar to launches in mature estates over the past few years, this project will not have 5-room flats.
Price
- Due to the high demand and low availability, BTO projects in city-fringe location command the highest price tags. So for the May 2021 BTO launch, we can expect higher starting prices for Geylang and Bukit Merah.
- In fact, the indicative price range for Dakota One in the August 2020 launch was as high as S$523,000 to S$617,000 (excluding grants) for 4-room flats.
Schools
- While there are quite a number of childcare centres nearby, there isn’t a single school within walking distance.
- Students will need to go on a 15-minute bus ride to the nearest schools. This includes Canossa Catholic Primary, Maha Bodhi School, Manjusri Secondary and Geylang Methodist Primary and Secondary.
- There’s St Margaret Primary nearby as well, but it will only be on the holding site until end-2023. By the time the BTO is completed, the school would have moved back to its original location at Wilkie Road.
- On the other hand, there are more school options along Circle Line, such as Bartley Secondary and Maris Stella High.
Recreational facilities
- Another downside of the Geylang BTO is that there’s not a lot of recreational facilities in the area. One of the closest facilities will be Geylang East Swimming Complex, which is 15 minutes away by bus.
What else we noted about the May 2021 Geylang BTO
- There’s good rental demand due to its proximity to industrial and commercial areas of Paya Lebar, Tai Seng and Ubi. The CBD isn’t that far away either.
- If you’re planning to earn some rental income, you may consider renting out the flat after its MOP. Based on SRX’s estimates in March 2021, the median rent for an HDB flat in Geylang is S$1,775 for a 3-room and S$2,300 for a 4-room.
- Its proximity to the MRT and Ubi industrial area means there will be heavy human and vehicle traffic during peak hours.
- And just across the road, there are five Chinese temples.
- On top of that, Paya Lebar Airbase is around 5km away. Until the airbase relocates to Changi and Tengah from 2030 onwards, you’ll have to contend with the airplane noise as well.
Our verdict on the May 2021 Geylang BTO
Out of all the May 2021 BTO projects, the Geylang BTO wins hands down in terms of accessibility.
Not only is the MRT right at the doorstep, but the PIE is just a few minutes down the road. We also like that the nearest MRT is an interchange, and is just a couple of stops to other interchanges as well. It’s the ideal home for drivers and those who rely on public transport.
Given its city-fringe location and proximity to commercial areas, we expect a healthy price appreciation and rentability. So it’s a good option if you’re planning to cash out or rent out the flat after MOP.
On the flip side, the Geylang BTO sits on one of the noisier sites. It’s more for those who don’t mind the heavy traffic and noise coming from the office area, temples and the airbase.
May 2021 Geylang BTO: Should you apply?
Looking at the application rate of the last launch, the Geylang BTO will definitely be very popular. But it probably won’t be as oversubscribed as the Bukit Merah BTO.
If you want a city-fringe address, you’ll have a higher chance of securing a flat here since 1,380 units will be up for grabs (as opposed to only 170 units in Bukit Merah). However, if you’re looking for a flat that offers some peace and quiet, we suggest you sit this one out.
Willing to wait a little longer? There are Queenstown BTO and Kallang/Whampoa BTO in the August 2021 launch to look out for. If not, you may want to check out resale flats in the area.
If you found this article helpful, check out our review on the Bukit Merah BTO, and keep your eyes peeled for the other May 2021 BTO projects in the coming days.
Looking for a property to buy or rent? Find your dream home on Singapore’s largest property portal 99.co!
The post HDB May 2021 BTO In-Depth Review: Geylang appeared first on 99.co.
