2023 has brought with it many opportunities to get a coveted BTO flat in a mature estate – the most recent being the Bedok South Blossoms and Farrer Park Arena May 2023 BTO projects. If you haven’t secured a ballot for the 2023 BTO launches so far, however, there are still exciting opportunities to come in the upcoming August 2023 BTO launch.
There have already been quite a few Queenstown BTO projects in recent launches, especially on the Buona Vista side of the estate. Exciting news: the Queenstown August 2023 BTO project will be located in an attractive spot near Commonwealth MRT station, within the Tanglin Halt area. The historic neighbourhood is also going to be redeveloped, which means that many older amenities will give way to shiny new ones.
If that sounds like your cup of tea, you might want to ballot for one of the estimated 970 3-room and 4-room BTO flats that will be launched in the Queenstown August 2023 BTO project. However, given where the Queenstown August 2023 BTO project is located, it is likely to be classified under the Prime Location Housing (PLH) model, which could dampen potential applicants from choosing it over attractive BTO projects in the same launch.
Thinking about applying for an upcoming flat in the August 2023 BTO launch, but not sure how? Watch our video guide to get started.
Apply for a Flat in the August 2023 BTO Launch
Do note that all HDB flat buyers are required to apply for the HDB Flat Eligibility (HFE) letter to submit along with their BTO application. While HDB will take up to 21 working days to process your application, the wait time to receive your valid HFE letter may be longer during peak periods (e.g. BTO launch weeks) – so we say, apply for your HFE letter sooner rather than later!
Queenstown Aug 2023 BTO Map
Queenstown BTO Location (HDB BTO August 2023 Launch)
| Name of the Queenstown HDB BTO August 2023 project | TBA |
| Address | Bounded by Commonwealth Drive and One-North Crescent |
| Types of BTO flats available | 3-room and 4-room flats |
| Nearest MRT station | Commonwealth MRT station |
| Nearest amenities | Commonwealth Park, Holland Village, Margaret Drive Hawker Centre, Queenstown Community Centre, Rochester Park, and Star Vista |
| Nearby schools | Anglo-Chinese Junior College, Anglo-Chinese School (Independent), Anglo-Chinese School (International), ESSEC Business School, Fairfield Methodist School, INSEAD, New Town Primary School, Queensway Secondary School, and Tanglin Trust School |
The Queenstown August 2023 BTO project will be located in the historic Tanglin Halt area, which is currently undergoing redevelopment. In other words, there might be quite a bit of construction going on over the next few years, and established amenities might vanish.
That said, the site is close to popular lifestyle and F&B amenities like Holland Village, Star Vista, and Ghim Moh Market, so even if the immediate area is undergoing redevelopment, residents will face no shortage of places to frequent.
The actual location of the site is excellent in terms of connectivity, at just a four-minute walk from Commonwealth MRT station, which takes you to Raffles Place MRT station in the Central Business District (CBD) in about 12 minutes, with no MRT line changes needed.
Those who drive can get to the city centre quickly via Commonwealth Avenue and Alexandra Road, although really, with such a good MRT connection, who needs to?
Besides its proximity to the city centre, the Queenstown August 2023 BTO project is also ideal for those who work in the One-North area, or who have children who wish to attend choice schools in the Dover Road area, including ACS(I) and ACJC.
Queenstown HDB BTO Price (HDB BTO August 2023 Launch)
| Unit type | Queenstown BTO price (HDB BTO August 2023) | Previous Queenstown BTO price (HDB BTO February 2023) | Previous Queenstown BTO price (HDB BTO November 2022) | Median resale flat prices in the area (Q1 2023) |
| 3-room flat | TBA | From $372,000 | From $362,000 | $403,200 |
| 4-room flat | TBA | From $541,000 | From $516,000 | $864,000 |
Queenstown is one of the most sought-after mature estates in Singapore, so expect the Queenstown August 2023 BTO flats to be priced higher than flats in other BTO projects!
While there will be about 970 Queenstown August 2023 BTO flats up for grabs, only 3-room and 4-room flats will be available. In light of this, these BTO flats might be a hit among affluent smaller households.
Median HDB resale flat prices for Q1 2023 show that the resale price for 3-room HDB flats in Queenstown was $403,200, while that for 4-room flats was $864,000. These are sky-high prices, which are expected in a neighbourhood that has produced several million-dollar resale flats. In fact, among the record 21 4-room million-dollar HDB flats sold in Q1 2023, Queenstown was the third-highest estate to see such transactions, selling nine such HDB flats.
For those who are looking at snagging an upcoming Queenstown August 2023 BTO flat as an investment after fulfilling the Minimum Occupation Period (MOP), recent HDB resale figures indicate great investment potential.
However, as the Queenstown August 2023 BTO launch is quite likely to fall under the PLH model, capital gains might be negatively affected. Given the newness of the PLH model, its effects on flat resale values have yet to be seen.
Budgeting for Your Queenstown August 2023 BTO Home Loan
| HDB BTO August 2023 Queenstown unit type | Price | If you take an HDB loan (at 2.6% p.a., 80% LTV) | If you take a bank loan (at 3.5% p.a., 75% LTV) |
| 3-room | $380,000 | $76,000 down payment, estimated $1,379 monthly mortgage repayments | $95,000 down payment, estimated $1,427 monthly mortgage repayments |
| 4-room | $550,000 | $110,000 down payment, estimated $1,996 monthly mortgage repayments | $137,500 down payment, estimated $2,043 monthly mortgage repayments |
The Queenstown August 2023 BTO project is at a high risk of being classified under the PLH model. However, based on previous Queenstown BTO projects that fell under the PLH model, buyers are still going to be fighting tooth and nail to apply for a ballot in this upcoming BTO project.
The above estimates have been projected based on previous BTO launches in the same area, but how much you actually end up paying will depend on the project’s indicative pricing and your unit. All prices exclude CPF Housing Grants.
We have worked out the above examples based on an interest rate of 2.6% and a Loan-to-Value limit (LTV) of 80% for HDB loans and an interest rate of 3.5% and an LTV of 75% for bank loans. The above figures are also for a 25-year loan. However, if your income allows for it, you can opt for a shorter loan term.
Need more specific information about your loan? Use the PropertyGuru Finance mortgage calculator to work out the figures for your situation. You can also talk to a PropertyGuru Finance Mortgage Expert if you want personalised advice on how to finance your dream home!
Queenstown BTO Amenities (HDB BTO August 2023 Launch)
1. Commonwealth MRT station
The BTO project is just four minutes away from the nearest MRT station – not just any station, but Commonwealth MRT station, which is a 12-minute direct ride away from the CBD on the East-West Line.
2. Choice Schools
The flats are located about half an hour’s walk from choice schools such as Anglo-Chinese Junior College, Anglo-Chinese School (Independent), Fairfield Methodist School (Primary and Secondary), ESSEC Business School, and INSEAD.
3. Good Food and Grocery Shopping
Although the area immediately surrounding the Queenstown August 2023 BTO project is undergoing redevelopment, residents will never be hungry or bored as it is located close to many established F&B eateries and lifestyle amenities, including Holland Village, Ghim Moh Market, and Star Vista.
3. One-North Subzone
The Queenstown August 2023 BTO flats are conveniently located near workplaces in the One-North subzone, which includes Biopolis, Fusionopolis, Mediapolis, and Vista. It is also nearby the Ministry of Education (MOE), making them ideal for those who work in the area.
If you want to stay in Queenstown but don’t want to wait for the Queenstown August 2023 BTO project, browse all Queenstown HDB resale flats on PropertyGuru now.
Conclusion: Is HDB August 2023 Queenstown BTO Project Worth Balloting for?
The Queenstown August 2023 BTO project enjoys an excellent location in terms of connectivity and is ideal for those who work in the CBD and One-North area. If convenience is important to you, the Queenstown August 2023 BTO project might be a winner.
Pros of Queenstown August 2023 HDB BTO Project
- Less than a five-minute walk to Commonwealth MRT station
- Walking distance to established food and lifestyle options
- Near prestigious and popular schools
- Near One-North
- Easy access to the CBD
Cons of Queenstown August 2023 HDB BTO Project
- 5-room BTO flats not available
- Likely to fall under the PLH model
- Likely to be priced higher than other August 2023 BTO flats
- Area in the immediate vicinity undergoing redevelopment
Applying for a Queenstown Aug 2023 BTO Flat
1. What Will Happen if You Receive BTO Ballots and Reject Them
Besides needing to apply for the HFE letter before the upcoming August 2023 BTO launch, first-timer BTO applicants who reject their BTO ballots will be considered second-timer applicants for the next year. After they submit their second BTO application, if they reject their BTO ballot again, they won’t be able to apply for a BTO flat for the following year too.
2. First-timer Parents and Families Can Quality for the New FPPS
The Family and Parenthood Priority Scheme (FPPS) will officially replace the Parenthood Priority Scheme (PPS). This change will include another applicant priority subset, the First-timer (Parents and Married Couples) group, also known as FT(PMC).
Up to 40% of BTO flats will be reserved for eligible FT(PMC) applicants.
Eligible FT(PMC) applicants must hit these profile criteria:
- Be in a family with at least one Singapore Citizen child who is 18 years old and below, or married couples below 40 years old
- Have never owned or sold a residential property
- Have not booked a BTO or Sale of Balance Flats (SBF) unit in the past five years before their HDB flat application
3. Unsuccessful FT(PMC) Applicants Will Receive More BTO Ballot Chances
To help FT(PMC) applicants who failed to secure a BTO ballot after multiple applications to a non-mature estate, they will also get one more chance per subsequent application.
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