The upcoming HDB BTO May 2022 Queenstown launch will consist of about 860 3-room and 4-room flats. Think you might be interested? Keep reading.
Mature estates tend to receive lots of attention at every BTO launch, but in particular, Queenstown is an extremely popular location. Just look at the recent batch of Dawson flats that reached MOP in 2021 — they sold for record-high prices! In response to the ‘flipping’ of these BTO flats for large profits (the “lottery effect”), the Government introduced the Prime Location Public Housing (PLH) model late last year. It is not yet known if these Queenstown BTO flats will be offered under the PLH model, but it could well be.
The upcoming Queenstown BTO project enjoys a great location near the upmarket enclave Holland Village, very close to several “branded” schools. It will also enjoy easy access to the city centre via the East West Line on the MRT network, as well as by road.
Upcoming BTO: HDB BTO May 2022 Queenstown BTO Map
Location of May 2022 Queenstown BTO flats, at Ghim Moh Road. Source: HDB
]Want to live in the area but can’t wait for a BTO flat? Check out the latest listings for Queenstown resale flats on PropertyGuru.
Upcoming BTO: Queenstown BTO Location (HDB BTO May 2022 launch)
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HDB BTO May 2022 Queenstown |
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Address |
Ghim Moh Road |
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Nearest MRT |
Buona Vista MRT |
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Nearest bus interchange |
Nearest bus terminal is Buona Vista Bus Terminal |
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Nearest schools |
Anglo-Chinese School (International), Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Fairfield Methodist Primary School, Fairfield Methodist Secondary School |
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Other nearby amenities |
Ulu Pandan Community Club, The Star Vista, Holland Village, Rochester Park, Rochester Mall, one-north, Ghim Moh Market & Food Centre, Holland Village Market & Food Centre |
The 860-unit Queenstown BTO project is located on Ghim Moh Road, about 5 minutes’ walk from Buona Vista MRT and about 13 minutes’ walk from Holland Village MRT. Due to its location in a highly popular neighbourhood with many popular schools, the launch is likely to be heavily oversubscribed.
The launch site is in a mature estate situated within walking distance of affluent enclave Holland Village, with its many restaurants, cafes, bars and lifestyle amenities. Residents will also be able to walk to upmarket dining enclave Rochester Park and malls like The Star Vista and Rochester Mall.
The site is also within walking distance of the one-north business park as well as the Ministry of Education, making it ideal for those who work in the area.
Another selling point for families with kids is the proximity of the BTO site to reputable schools such as ACS (Independent), Anglo-Chinese Junior College and Fairfield Methodist Secondary School.
However, as only 3-room and 4-room units are available in this launch, it is likely to draw attention from smaller households and couples without children who are keen to capitalise on the area’s lifestyle perks.
Upcoming BTO: Queenstown BTO Price (HDB BTO May 2022 Launch)
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Unit type |
Queenstown BTO Price (HDB BTO May 2022) |
Previous Queenstown BTO Price (HDB BTO Aug 2021) |
Previous Queenstown BTO Price (HDB BTO Nov 2012) |
Median resale flat prices in the area |
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3-room |
– |
$382,000 to $464,000 |
$310,000 to $374,000 |
$360,000 |
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4-room |
– |
$540,000 to $670,000 |
$450,000 to $594,000 |
$779,000 |
With a medium-sized batch of 860 3-room and 4-room units up for grabs, the Queenstown May 2022 BTO project looks likely to be heavily oversubscribed. Other than the last launch in August 2021, there have been no launches in Queenstown since November 2012.
Due to its location in a highly popular mature estate close to the affluent Holland Village area, flats will be priced at a premium. Buyers must be willing to pay close to $600,000 for a 4-room flat. If it is launched under the PLH model and there are additional subsidies, it may be cheaper, but buyers will be bound by the additional PLH restrictions.
Based on HDB’s resale statistics, median resale prices for 3-room and 4-room flats in Q4 2021 were $360,000 and $779,000 respectively. If these prices, particularly those for 3-room resale flats, seem a little low, it is because they have been pulled down by the sale of older flats built in the 1960s and 1970s. New flats are likely to enjoy better resale prices after the expiry of the Minimum Occupation Period (MOP).
Budgeting for Your Queenstown May 2022 BTO Home Loan
With the Queenstown May 2022 BTO flats likely priced at a premium, budgeting for your new home is a must before you submit your application.
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HDB BTO May 2022 Queenstown 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 |
$400,000 |
$60,000 downpayment; estimated $1,542 monthly mortgage repayments |
$100,000 downpayment; estimated $1,214 monthly mortgage repayments |
|
4-room |
$600,000 |
$90,000 downpayment; estimated $2,314 monthly mortgage repayments |
$150,000 downpayment; estimated $1,821 monthly mortgage repayments |
We’ve used approximate price estimates for the examples above, but depending on the unit you’ve been allocated, the exact price you pay might be different. All prices exclude CPF housing grants.
We’ve based our HDB loan calculations on an interest rate of 2.6% and an LTV of 85%, adjusted based on the December 2021 property cooling measures. Our bank loan calculations have been based on an interest rate of 1.6% and an LTV of 75%.
All the above examples are calculated based on a 25-year loan. If you are able to pay higher monthly installments, you can opt for a shorter loan tenure in order to be debt-free sooner.
For a more accurate estimate of your costs, use our affordability calculator or get in touch with one of our Finance Home Loan Advisors, who can advise you according to the specifics of your situation.
Upcoming BTO: Queenstown BTO Amenities (HDB BTO May 2022 Launch)
Array of Lifestyle and Food Options at Holland Village
The upcoming Queenstown BTO launch is situated in an affluent area, close to monied enclaves Holland Village and Rochester Park, thanks to which residents can enjoy an array of chic restaurant, cafe and bar options.
Holland Village, in particularly, is home to numerous well-loved food options, including the Holland Village Market & Food Centre, 363 Katong Laksa and Crystal Jade Hong Kong Kitchen.
The BTO project is also located near Ghim Moh Market & Food Centre, where there are many well-loved stalls.
Close to Popular Schools Like ACS (I), Fairfield Methodist Schools
The Queenstown BTO project is located within walking distance of reputable schools Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Anglo Chinese School (International), Fairfield Methodist Primary School and Fairfield Methodist Secondary School.
Near Buona Vista MRT, Which Connects to City Centre in 10 to 20 Minutes
The upcoming BTO project in Queenstown is located five minutes’ walk from Buona Vista MRT, which connects directly to Raffles Place MRT in the CBD in about 17 minutes, no line changes required.
Residents can also drive easily to the city centre in 10 to 15 minutes via the AYE, Holland Road or Commonwealth Avenue.
Near One-North Business Park
The Queenstown BTO project is located within walking distance of the business park at one-north, making it convenient for anyone working in the area. If residents are planning to rent out a room (or the entire unit after MOP), there is an opportunity for it too.
Residents can also enjoy the many restaurants and cafes that have popped up to serve those working there, including Peperoni Pizzeria @ Biopolis and Jimmy Monkey Cafe & Bar.
Conclusion: Is the HDB May 2022 Queenstown BTO Worth Balloting For?
The Queenstown BTO launch is ideal for those who have the budget for a flat in a desirable and well-located neighbourhood. Due to the availability of only 3-room and 4-room flats, it is better suited to couples without children and smaller households.
Pros of May 2022 Queenstown HDB BTO
- Attractive neighbourhood with plenty of food and lifestyle options
- Five minutes’ walk to nearest MRT
- Near several popular schools
- Connects to city centre in 10 to 20 minutes
- Near One-North business park
Cons of May 2022 Queenstown HDB BTO
- Likely to be pricey
- 2-room flexi and 5-room flats not available
- Competition for flats likely to be fierce
- May be offered under PLH model
Due to its desirable location and good connectivity to the city centre, expect competition for the May 2022 Queenstown launch to the fierce.
The project is likely to be popular with small and affluent households due to its proximity to lifestyle destinations like Holland Village and One-North business park, as well as its direct MRT line to the CBD.
Although the proximity to “branded” schools might be a plus for some families with kids, the availability of only 3- and 4-room flats might cause larger families to opt for less central neighbourhoods where 5-room flats are available.
One thing is for sure, the Queenstown launch is going to be an expensive one. Those on a tight budget might prefer to opt for BTO flats in non-mature estates like Yishun and Jurong West, both of which are also available in the May 2022 launch.
Not sure if you should ballot for the HDB BTO May 2022 Queenstown 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 Launch?
An announcement will be made on the HDB flat portal when applications open. You will have one week to submit your application.
How Do You Apply for A BTO Flat?
You must make your application online via the HDB Flat Portal during the specified application period.
When Are BTO Ballot Results Released?
BTO results are released about three weeks from the closing of the application period.
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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.
