In the HDB May 2022 BTO launch, two projects in Bukit Merah will take centre stage. Situated less than 15 minutes’ commute from the Central Business District (CBD), the two Bukit Merah sites enjoy excellent locations on the city fringe.
Competition for the 2,440 3-room and 4-room flats is expected to be stiff. It is not known yet whether this batch of Bukit Merah BTO flats will be offered under the Prime Location Public Housing (PLH) model, but given their central location and close proximity to the MRT, it is possible.
Upcoming BTO: HDB BTO May 2022 Bukit Merah BTO Map
Location of May 2022 Bukit Merah BTO flats, bounded by Alexandra View and Tiong Bahru Road. Source: HDB
Location of May 2022 Bukit Merah BTO flats, bounded by Henderson Road, Lower Delta Road and Tiong Bahru Road. Source: HDB
Can’t wait for a BTO flat but want to live in this area? Browse the latest listings for Bukit Merah resale flats on PropertyGuru.
Upcoming BTO: Bukit Merah BTO Map Location (HDB BTO May 2022 Launch)
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HDB BTO May 2022 Bukit Merah |
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Address |
Bounded by Alexandra View and Tiong Bahru Road & bounded by Henderson Road, Tiong Bahru Road and Lower Delta Road |
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Nearest MRT |
Redhill MRT and Tiong Bahru MRT |
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Nearest bus interchange |
Bukit Merah Bus Interchange |
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Nearest schools |
Gan Eng Seng Secondary School, Crescent Girls’ Secondary School, Alexandra Primary School, Gan Eng Seng Primary School, Bukit Merah Secondary School, Zhangde Primary School |
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Other nearby amenities |
Tiong Bahru Plaza, Delta Sports Hall, Delta Swimming Complex, Leng Kee Community Club, Bukit Merah Community Centre, Henderson Community Club, Tiong Bahru Market & Food Centre |
There are two sites in the HDB BTO May 2022 Bukit Merah launch.
The first is at Alexandra View, right next door to Redhill MRT. There will be 780 3-room and 4-room flats available at this site.
The second site will be bounded by Henderson Road, Lower Delta Road and Tiong Bahru Road, about 5 minutes’ walk from Tiong Bahru MRT. This site will yield approximately 1,660 3-room and 4-room flats.
The location is about as close as one can get to the city centre without actually being in it. Raffles Place MRT in the CBD is only four stops away from the first BTO site and three stops from the second, meaning that those who work there can potentially get to work in 15 minutes.
Hence, it is possible that this project may be offered under the PLH model. If indeed so, the prices are likely to be attractive (there are additional subsidies for PLH projects, subject to clawback), but buyers will be bound by other restrictions like a longer 10-year Minimum Occupation Period (MOP) and more.
Read more here: HDB Prime Location Housing (PLH) Model: Additional Subsidies, 10-Year MOP and More
The Tiong Bahru area, which is near both BTO sites, is a highly attractive neighourhood thanks to the many lifestyle and F&B businesses that have set up in the area. Outside of the Tiong Bahru enclave, the launch sites are located within close proximity to numerous well-regarded food centres and markets, as well as Tiong Bahru Plaza.
There are also numerous schools located within walking distance of the BTO sites, including Crescent Girls’ Secondary School and Gan Eng Seng Primary and Secondary Schools.
Upcoming BTO: Bukit Merah BTO Price (HDB BTO May 2022 Launch)
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Unit type |
Bukit Merah BTO price (HDB BTO May 2022) |
Previous Bukit Merah BTO price (HDB BTO May 2021) |
Previous Bukit Merah BTO price (HDB BTO Jul 2021) |
Median resale flat prices in the area |
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3-room |
– |
$419,000 to $504,000 |
$304,000 to $368,000 |
$371,800 |
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4-room |
– |
From $602,000 to $710,000 |
$445,000 to $561,000 |
$766,500 |
Despite the fact that there is a bumper crop of 2,440 units on offer, the Bukit Merah BTO project is likely to be heavily oversubscribed thanks to its highly central location.
Due to their location in a mature estate on the city fringe with excellent connectivity, flats are likely to be priced at a premium (unless there are additional subsidies under the PLH model). Based on past prices, buyers should be prepared to budget about $500,000 for a 4-room flat.
Based on HDB’s resale statistics, median resale prices for 3-room and 4-room flats in Bukit Merah were $371,800 for 3-room flats and $766,500 for 4-room flats respectively in Q4 2021. Although these resale prices seem relatively low, this is likely to be because there are many older resale flats in Bukit Merah whose value is falling due to their leases running out.
Thanks to their city fringe location, the May 2022 BTO flats are likely to enjoy strong resale prices after the MOP is over.
Budgeting for your Bukit Merah May 2022 BTO Home Loan
With the HDB BTO May 2022 Bukit Merah flats likely priced at a premium, it’s never too early to budget for your new flat.
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HDB BTO May 2022 Bukit Merah unit type |
Price |
If you take an HDB loan (at 2.6% p.a., 85% LTV) |
If you take a bank loan (at 1.6% p.a., 75% LTV) |
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3-room |
$500,000 |
$75,000 downpayment, estimated $1,928 monthly mortgage repayments |
$125,000 downpayment, estimated $1,517 monthly mortgage repayments |
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4-room |
$700,000 |
$105,000 downpayment, estimated $2,699 monthly mortgage repayments |
$175,000 downpayment, estimated $2,124 monthly mortgage repayments |
We’ve used estimates based on the last BTO launch in Bukit Merah, but depending on the indicative prices for the May 2022 Bukit Merah launch, the exact cost may vary. Any CPF grants are not factored into the above prices.
For HDB loans, we’ve used an interest rate of 2.6% p.a. at 85% LTV in accordance with the new adjusted LTVs after the December 2021 property cooling measures. For bank loans, we’ve used an interest rate of 1.6% p.a. at 75 % LTV.
The above examples are calculated based on a 25-year loan. If you can afford higher monthly installments, you can opt to shorten your loan tenure.
Check out our affordability calculator for an estimate tailored to your needs, or get in touch with our friendly Finance Home Loan Advisors for personalised advice.
Upcoming BTO: Bukit Merah BTO Amenities (HDB BTO May 2022 Launch)
15 Minutes Away from the CBD
Commuters can reach the CBD in 15 minutes by public transport thanks to the proximity of both flats to their nearest MRT stations, which are three or four stops away from Raffles Place MRT, with no line changes required.
By car, the drive to the CBD can be completed in under 10 minutes.
Near Hip Cafes, Bar and More in Tiong Bahru
The BTO site is located near the Tiong Bahru neighbourhood, which is highly fashionable and sought-after thanks to an array of hip restaurants, bars, cafes and lifestyle businesses, including yoga studios and bookshops.
Established Amenities Like Tiong Bahru Plaza, IKEA Alexandra and more
Bukit Merah is a mature estate with many established amenities and food centres including Redhill Food Centre and Tiong Bahru Market, and remains relatively peaceful despite its proximity to the city centre.
Residents will enjoy proximity to Tiong Bahru Plaza for their daily needs, and will also be near amenities in Queenstown such as IKEA Alexandra and Queensway Shopping Centre.
Conclusion: Is the HDB May 2022 Bukit Merah BTO Worth Balloting For?
The key question when considering the Bukit Merah May 2022 BTO launch is: are you willing to pay for a good location? The flats is likely to be priced at a premium but also offer an unparalleled city fringe location in a highly sought-after neighbourhood.
Pros of May 2022 Bukit Merah HDB BTO
- Central location
- Very short walking distance to nearest MRT station
- Walking distance to lifestyle and F&B hotspots
- Many schools within walking distance
Cons of May 2022 Bukit Merah HDB BTO
- Likely to be pricey
- 2-room flexi and 5-room flats not available
- Likely to be heavily oversubscribed
- May be offered under PLH model
Despite the high number of flats on offer, this project is likely to be heavily oversubscribed due to its attractive location on the city fringe, particularly for the 4-room flat type, which tends to be most popular.
The project is likely to be popular with affluent couples without kids and smaller households who are willing to settle for a smaller flat type in order to live in a desirable location.
This launch consists of only 3-room and 4-room flats, so larger households might opt instead for a suburban location like Jurong West or Yishun, in which 5-room flats are available in the May 2022 launch.
Not sure if you should ballot for the HDB BTO May 2022 Bukit Merah flats? Read about the other upcoming BTO 2022 launches in May below:
- May 2022 BTO Launch Overview
More FAQs about BTO Flats in Singapore
When can I apply for the May 2022 BTO?
You must apply for a BTO flat within one week of the May 2022 sales launch. Launch dates will be announced on the HDB flat portal.
What BTO flats can singles buy?
Singles can only buy 2-room Flexi flats in non-mature estates. However, they can buy any resale flats they wish.
What is the waiting time for BTO flats?
The waiting time for BTO projects is currently about four to five years.
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This article was written by Joanne Poh. A former real estate lawyer, she writes about property and personal finance and spends her free time compulsively learning languages and roller skating in carparks.
