Now that we’re in November, we’re in the BTO season again. This time, we’ll be seeing an estimated 4,480 units being launched across eight projects in Choa Chu Kang, Hougang, Jurong West, Kallang/Whampoa, Rochor and Tengah. Following last week’s announcement, we’ll also be seeing the first Prime Location Public Housing (PLH) flats being launched in this November 2021 BTO sales exercise.
While we know the exact locations of these projects around three months before the launch (or just a few weeks in the case of the Rochor BTO), we’ll only know the exact starting prices during the launch itself.
Nevertheless, SRX has done up the estimated price ranges of 3-room, 4-room and 5-room flats for the November 2021 BTO launch, based on the nearby resale transactions and launch prices from recent BTO launches.
| Hougang | Jurong West | Kallang/Whampoa | Rochor | Tengah | |
| 3-room | S$200,000 – S$260,000 | S$400,000 – S$500,000 | S$200,000 – S$230,000 | ||
| 4-room | S$320,000 – S$370,000 | S$280,000 – S$390,000 | S$500,000 – S$660,000 | S$600,000 – S$750,000 | S$280,000 – S$350,000 |
| 5-room | S$390,000 – S$480,000 | S$380,000 – S$480,000 |
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.
Based on these pricing forecasts, we can also estimate the downpayment and estimated monthly instalments to be made. This is based on the following assumptions:
- An HDB loan is taken, maximising the 90% loan-to-value
- The loan tenure is the maximum 25 years, with the current interest rate of 2.6%
- There is no other housing loan to service
For illustrative purposes, we’ll use the median of the estimated price range. So for a 4-room flat at the Rochor BTO, we’ll take it that the price will be S$675,000. We’re also not taking into account any CPF grants.
Based on all these, we use a mortgage calculator to come up with these estimates.
Without further ado, here’s an estimation of how much you’ll have to fork out each month, should you manage to snag a flat at your preferred location in this BTO season.
Hougang
Hougang Avenue 3 BTO. Source: HDB
| Flat type | Median price | Loan amount (90%) | Minimum downpayment 10%) | Estimated monthly instalment |
| 4-room | S$345,000 | S$310,500 | S$34,500 | S$1,408.64 |
| 5-room | S$435,000 | S$391,500 | S$43,500 | S$1,776.12 |
Check out our in-depth review of the Hougang BTO here.
Jurong West
| Flat type | Median price | Loan amount (90%) | Minimum downpayment 10%) | Estimated monthly instalment |
| 3-room | S$230,000 | S$207,000 | S$23,000 | S$939.10 |
| 4-room | S$335,000 | S$301,500 | S$33,500 | S$1,367.81 |
Check out our in-depth review of the Jurong West BTO here.
Kallang/Whampoa
| Flat type | Median price | Loan amount (90%) | Minimum downpayment 10%) | Estimated monthly instalment |
| 4-room | S$580,000 | S$522,000 | S$58,000 | S$2,368.15 |
SRX doesn’t publish the pricing forecasts for the 2-room Flexi flats.
In the last launch in Kallang/Whampoa for 2-room Flexi flats during the February 2021 BTO, prices ranged from S$117,000 to S$136,000 for the Type 1 flats, and S$139,000 to S$182,000 for Type 2 flats. However, these flats came with 40-year short leases.
So assuming that the 2-room Flexi flats offered this time round also have short leases, we predict that prices will range from S$120,000 to S$180,000. Take note that there’s no mortgage financing for short lease flats. So you’ll have to pay it in cash and/or CPF savings.
You can read more about the eligibility criteria for HDB loans here.
And check out our in-depth review of the Kallang/Whampoa BTO here.
Rochor
| Flat type | Median price | Loan amount (90%) | Minimum downpayment 10%) | Estimated monthly instalment |
| 3-room | S$450,000 | S$405,000 | S$45,000 | S$1,837.36 |
| 4-room | S$675,000 | S$607,500 | S$67,500 | S$2,756.04 |
Check out our in-depth review of the Rochor BTO here.
Tengah
During the previous BTO launch in the estate in May 2021, prices for 2-room Flexi flats ranged from S$113,000 to S$137,000 for Type 1, and S$132,000 to S$167,000 for Type 2 flats.
So we predict prices for 2-room Flexi flats this time would be around S$120,000 to S$160,000. For illustrative purposes, we take it that the median price would be S$140,000.
| Flat type | Median price | Loan amount (90%) | Minimum downpayment 10%) | Estimated monthly instalment |
| 2-room Flexi | S$140,000 | S$126,000 | S$14,000 | S$571.62 |
| 3-room | S$215,000 | S$193,500 | S$21,500 | S$877.85 |
| 4-room | S$315,000 | S$283,500 | S$31,500 | S$1,286.15 |
| 5-room | S$430,000 | S$387,000 | S$43,000 | S$1,755.70 |
Check out our in-depth review of the Tengah BTO here.
Choa Chu Kang
As the Choa Chu Kang BTO is designed as a retirement village for the elderly, only 2-room Flexi flats will be available.
In the last launch in the estate (in August 2020), the starting price for 2-room Flexi flats was S$99,000. So we think that the price could be around S$99,000 to S$139,000 for this project.
However, since application for the vertical kampung project is only for those 55 years and above, the flats will most likely be on short leases. This also means that there’s no mortgage financing available for these flats, and you’ll have to pay it with cash and/or CPF savings.
Check out our in-depth review of the Choa Chu Kang BTO here.
Which November 2021 BTO project is the most affordable?
Based on the estimated prices, the Jurong West BTO and Tengah BTO are probably the cheapest in this November 2021 sales launch. Given that prices here are at the lower end of the spectrum, monthly instalments will be more affordable as well.
For instance, we estimate that the monthly instalments for 4-room flats in these estates will be around S$1,200 to S$1,400. In comparison, monthly instalments for the same flat type in the Rochor BTO and Kallang/Whampoa BTO are estimated to be around S$2,300 to S$2,800.
Whichever project you’re aiming for, one thing to keep in mind is that you should only purchase a property within your means. And don’t just count on the 30% Mortgage Servicing Ratio (MSR), which helps to ensure you’re not overleveraged. Check your finances and ensure that you have enough cash and CPF savings to cover your monthly instalments, just in case (touch wood) of a loss of income.
Which November 2021 BTO project will you be balloting for? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends HDB concessionary loan: Know your eligibility + How to apply for HLE and Deciding between HDB loans and bank loans? Here’s a quick reference.
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