Have always wanted to live near the city centre? Look out for the May 2022 Bukit Merah HDB BTO projects. With a total of 2,440 flats available, these two projects make up nearly half of the total number of flats to be offered in the upcoming launch.
May 2022 Bukit Merah HDB BTO at a glance
| Location | – Along Alexandra View
– Along Henderson Road, Tiong Bahru Road and Lower Delta Road |
| Classification | Mature estate |
| Number of units | – Along Alexandra View: 780
– Along Henderson Road: 1,660 |
| Flat types | 3-room and 4-room for both projects (there will be around 38 2-room rental flats for the Alexandra View BTO) |
| Number of blocks | TBC |
| Estimated waiting time | TBC |
| Estimated completion date | TBC |
| Nearest MRT | Redhill MRT and Tiong Bahru MRT |
| Notable amenities | Tiong Bahru Plaza, Great World City, Tiong Bahru Market and Food Centre, Delta Sports Hall, Delta Swimming Complex, Southern Ridges, SGH, Alexandra Hospital |
May 2022 Bukit Merah HDB BTO indicative price range
HDB hasn’t released the price range yet. So for now, you can refer to SRX’s estimations based on nearby resale transactions and launch prices from recent BTO launches.
| Flat type | Estimated price range |
| 3-room | S$390,000 – S$510,000 |
| 4-room | S$550,000 – S$700,000 |
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.
Estimated downpayment, monthly instalment and income
Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2022 Bukit Merah BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken, maximising the 85% loan-to-value (LTV)
- The loan tenure is 25 years, with the current interest rate of 2.6%
- There is no other housing loan to service
To illustrate, we’ll use the median of the price range and won’t be taking into account any CPF grants or savings to be used. We’ll also be using a mortgage calculator to do the math.
Another thing is that for public housing, you can only use up to 30% of your monthly household income to service the home loan. This is called the Mortgage Servicing Ratio (MSR). By taking this into account, we can then find the estimated household monthly income needed for the flat.
| Flat type | Median price | Loan amount (85%) | Min. downpayment (15%) | Estimated monthly instalment | Estimated monthly household income |
|---|---|---|---|---|---|
| 3-room | S$450,000 | S$382,500 | S$67,500 | S$1,735.29 | S$5,784.30 |
| 4-room | S$625,000 | S$531,250 | S$93,750 | S$2,410.12 | S$8,033.73 |
What we noticed about the May 2022 Bukit Merah HDB BTO
Among the May 2022 HDB BTO projects, the first thing we noticed is that these two Bukit Merah projects are the closest to the MRT. One is next to Redhill MRT, while the one along Henderson Road is close to Tiong Bahru MRT.
They’re also the first BTO projects in Tiong Bahru; past projects were all launched in Telok Blangah. So until the May 2022 launch, the newer flats here have mostly been SERS replacement projects, such as City Vue @ Henderson, which is located just opposite the Henderson Road BTO site.
Another thing we noticed is that this Alexandra View BTO is around a three-minute walk from the Alexandra Road BTO that was first announced last December. So if you miss out on this May BTO, there’s still another one in the area to look forward to. We think it’s going to be launched during the August BTO exercise.
May 2022 Bukit Merah BTO: The Pros
Accessibility
These Bukit Merah BTO are probably the most accessible ones. Alexandra View BTO is within a five-minute walk to Redhill MRT, while the Henderson Road BTO is around an eight-minute walk to Tiong Bahru MRT.
Plus, there’s the upcoming Havelock MRT on the Thomson-East Coast Line (TEL) nearby, which is expected to open this year and will be around a 15-minute bus ride away. So besides the East-West Line, you’ll also have direct access to the north and East Coast.
And for drivers, there’s the Central Expressway just a short drive away.
So the good news is that if you work in the CBD, you can reach there in just two to four stops on the East-West Line or within a 15-minute drive.
Food and retail amenities
Another thing we love about both Bukit Merah BTO projects is that there’s a market and hawker centre just across the road from both projects. Perfect for those who don’t cook much or are just too tired to cook!
The Alexandra View BTO is around a seven-minute walk to Redhill Market and Food Centre, while the Henderson Road BTO is even nearer at around a two-minute walk to Bukit Merah View Market and Food Centre. For more options, there’s the famous Tiong Bahru Market and Food Centre just a bus ride away.
The nearest mall from both projects will be Tiong Bahru Plaza (a six-minute bus ride from Alexandra View BTO and an eight-minute walk from Henderson Road BTO). A little further are Valley Point and Great World City, at around a 10- to 15-minute bus ride from both BTO.
And that’s not all! If you like cafe-hopping, securing a flat in either of the BTO will mean that you’re a short bus ride away from the hipster cafes and retail outlets at Tiong Bahru, such as PS. Cafe Petit, Tiong Bahru Bakery, Plain Vanilla and Cat Socrates.
Childcare centres
We think both BTOs are ideal for small families as well (more on that later), as there are several childcare centres within 15 minutes walking distance. This includes Cambridge Pre-School at the Artra condo, Alora Child Care at Leng Kee CC, PCF Sparkletots at Redhill Close and My First Skool at Henderson Crescent.
Schools
On top of child care centres, there are several schools in the area.
Primary schools within 1km of both Bukit Merah BTO include Alexandra Primary and Gan Eng Seng Primary. There’s also Zhangde Primary within 1km of Henderson Road BTO, though it’s slightly outside the 1km radius of Alexandra View BTO.
Other nearby schools include Gan Eng Seng Secondary, Crescent Girls’ Secondary, Bukit Merah Secondary and APSN Tanglin School right next to the Alexandra View BTO.
Recreational facilities
Delta Swimming Complex and Sports Hall (which also has a hockey pitch) will be around a four- to eight-minute walk from BTOs. Both have been closed for renovation since 2019, but should be opened again in August 2022.
Nature lovers will be pleased to know that the Bukit Merah BTOs are also close to parks. The Henderson Park Connector nearby links to Telok Blangah Hill Park and Mount Faber. For a longer walk, there’s the Rail Corridor that stretches from Kranji to Tanjong Pagar.
Healthcare facilities
Healthcare facilities here are pretty accessible too, with two public hospitals in the vicinity.
Singapore General Hospital (SGH) and Alexandra Hospital are both less than 10 minutes drive away from both BTOs.
But for acute illnesses and non-emergencies, there’s the Bukit Merah Polyclinic around a 15-minute bus ride from the BTO projects.
May 2022 Bukit Merah BTO: The Cons
No 5-room flats
This is probably the only gripe we have about both Bukit Merah BTOs. No 5-room flats will be offered here, which means these flats will be more suitable for those with small families, such as couples with one or two children.
So those with bigger families and need more space will have to look at Yishun or Jurong West if you’re planning to ballot during the May 2022 BTO exercise. Alternatively, if you’re looking for a flat in a central location, there’s the Ang Mo Kio BTO in August to look forward to, which is expected to offer 5-room and 3Gen flats.
Another alternative? Go for resale flats, which are generally bigger than BTO flats.
2
1
3
2
2
2
3
2
2
2
3
2
3
2
2
3
3
2
2
2
Oversubscription
Both Bukit Merah BTO are probably the most popular projects among the May 2022 BTO launches.
Both may even attract a similar application rate like the last launch in Bukit Merah, which had an overall application rate of 49.6 for 4-room flats.
If you want to face less competition, but still want to try your luck for a Bukit Merah BTO, we suggest going for the Henderson Road BTO, which has the largest number of flats with 1,660 units up for grabs.
May 2022 Bukit Merah BTO: Where are the best stacks with the best views?
HDB hasn’t released the site plans yet. So for now, we’re just looking based on the surrounding areas of the projects.
If you’re looking for unblocked views, you may want to give Alexandra View BTO a skip. It’s mostly surrounded by condos and HDB flats. At the north, there’s Echelon. At the west, there’s Artra. Both condos are 43 storeys high.
At the south of the BTO, there are older (and shorter) HDB blocks. But when we looked at the URA master plan, we noticed residential plots with a high gross floor area. This means these plots can be redeveloped into very tall housing projects. So even if you get the south-facing stacks that face the Southern Ridges, your view might get blocked in future.
So your best bet is to get a north-facing flat at Henderson Road BTO. If you can get a flat that’s high enough, you might just be able to get a view of the landed property at the north, including the Chatsworth Park GCB area. Or if you prefer to get a view of nature, you might be able to get a view of the Southern Ridges with a south-facing flat.
May 2022 Bukit Merah BTO: What’s the potential price appreciation?
In general, the average price of 3-room and 4-room flats in the estate have increased by 19.76% over the last 10 years. After all, this is an estate that has recorded several million-dollar flats.
So far, there aren’t any BTO flats in the Tiong Bahru area. Newer flats are the SERS replacement flats like the City Vue @ Henderson that’s just opposite the Henderson Road BTO. So we’re looking at that instead to get a gauge of the price appreciation. Prices of 3-room and 4-room flats have increased by 14.04% since the first flats entered the resale market in 2020.
And given the prime location, we expect a high price appreciation in future for both Bukit Merah BTOs.
Another thing is that there will be a few major developments in the vicinity in the coming years, which should lead to higher appreciation. This includes the Havelock MRT on the TEL and the redevelopment and expansion of SGH over the next two decades.
And further south, there’s the Greater Southern Waterfront, where we can look forward to more lifestyle attractions.
May 2022 Bukit Merah BTO: Should you apply?
Yes, you should apply here if you’re looking for convenient access to the city centre.
But if you’re looking for a bigger space, whether it’s because you foresee yourself having more kids or want to have your own man cave or additional walk-in closet, you might want to ballot somewhere else due to the smaller flats available.
And given the location, we think both projects will be under the Prime Location Public Housing (PLH) model. From what we’ve seen for the two PLH projects so far, the flats are generally smaller.
This also means that flats here will come with restrictions like a 10-year Minimum Occupation Period (MOP) and a subsidy clawback. These can make it harder for you to upgrade to a condo.
We also think both will be the most contested projects. So you have to be really lucky (like can get Toto or 4D kind of lucky) to get a queue number. As we’ve seen for the application rate of the last launch in Bukit Merah, at least 30 people were competing for each 4-room flat.
Will you apply for the May 2022 Bukit Merah BTO? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, check out our overview of the May 2022 BTO projects and keep a look out for our reviews for the other projects in the coming weeks.
Looking for a property? Find the home of your dreams today on Singapore’s fastest-growing property portal 99.co! If you would like to estimate the potential value of your property, check out 99.co’s Property Value Tool for free. Also, don’t forget to join our Facebook community page or Telegram chat group! Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Frequently asked questions
When is the next BTO launch in 2022?
Now that the Feb 2022 BTO has ended, the next one will be in May 2022.
How long do I have to wait for a BTO flat?
It depends on the project. The waiting time can range from around 2 years to almost 6 years.
Do I have to ROM before applying for BTO?
No, you don’t have to register your marriage before applying as you can apply under the Fiance/Fiancee Scheme. But you’ll need to solemnise your marriage within 3 months of collecting your keys.
The post May 2022 HDB BTO in-depth review: Bukit Merah appeared first on 99.co.
