Among the May 2023 HDB BTO projects, we’re 99% (pun intended) sure the Kallang/ Whampoa BTO will be a Prime Location Public Housing (PLH) project. It’s located just across the street from a PLH project, Farrer Park Fields BTO, launched in February 2023.
*Looking for alternatives to the Kallang/Whampoa BTO? Check out these recently MOP-ed resale HDB projects near the May 2023 BTO.
May 2023 Kallang/ Whampoa HDB BTO at a glance
| Classification | Mature estate |
| Flat types and number of units | 570
3-room 4-room |
| Estimated price for a 4-room flat | S$490k – S$640k |
| Estimated waiting time | TBC |
| Estimated completion date | TBC |
| Delivery possession date | TBC |
| Nearest MRT | Little India MRT, Farrer Park MRT |
| Notable amenities | Sports facilities integrated with the BTO, Tekka Centre, City Square Mall, Mustafa Centre, KK Women’s and Children’s Hospital, Farrer Park Hospital |
May 2023 Kallang/ Whampoa HDB BTO: Price range and estimated monthly instalments
HDB hasn’t released the price range yet. For now, here’s SRX’s estimations based on nearby resale transactions and launch prices from recent BTO launches.
| Flat type | Price range |
| 3-room | S$360,000 – S$460,000 |
| 4-room | S$490,000 – S$640,000 |
Source: SRX. These estimations have been adjusted for differences in 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 instalments and income
Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2023 Kallang/ Whampoa BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken to maximise the 80% loan-to-value (LTV), given the latest changes in LTV
- The loan tenure is 25 years, with the current interest rate of 2.6%
- A stress-test rate of 3% is used to calculate the Mortgage Servicing Ratio (MSR), which stipulates that up to 30% of your monthly household income can be used to pay the monthly instalments.
- 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.
| Flat type | Median price | Loan amount (80%) | Downpayment (20%) | Estimated monthly instalment (with 2.6% interest rate) | Estimated monthly household income (with 3% stress-test) |
| 3-room | S$410,000 | S$328,000 | S$82,000 | S$1,488.04 | S$5,184.70 |
| 4-room | S$565,000 | S$452,000 | S$113,000 | S$2,050.59 | S$7,144.80 |
Should you take an HDB loan or a bank loan? This article weighs all the pros and cons.
If you’re considering taking out a bank loan, contact 99.co’s mortgage broker for the best rates!
May 2023 Kallang/ Whampoa HDB BTO: Location and nearby amenities
*Disclaimer: Walking, public transport ride and driving durations are based on Google Maps estimates. Actual times may vary.
Accessibility
This May 2023 Kallang/ Whampoa BTO is located across the street from the Farrer Park Fields BTO launched in the previous BTO exercise in February 2023. So residents will enjoy similar accessibility and nearby amenities.
But we note that this BTO is located slightly further from the North-East Line, as compared to the Farrer Park Fields BTO. It’s around a 10-minute walk of Little India MRT and Farrer Park MRT.
Not only is this Farrer Park BTO convenient for those who rely on public transport, but also for drivers. For instance, the BTO is just a couple of streets away from the Central Expressway (CTE).
What’s more, you can look forward to the upcoming North-South Corridor that will feature dedicated bus lanes, cycling trunk routes and pedestrian paths. Expected to be completed from 2027 onwards, the NSC is set to make commuting faster and safer for everyone. (Yay for cyclists to get their own lanes to stay in soon!)
Food and retail amenities
We also like that there’s a good range of affordable options to get your daily necessities. Just a 10-minute walk is Tekka Centre at the south and City Square Mall, where you have an NTUC and Don Don Donki (cue the jingle), at the east of the BTO.
Walk slightly further, and you can find Mustafa Centre for even more options (plus, it’s open 24 hours).
Closer to home is the upcoming Piccadilly Galleria, the retail development of Piccadilly Grand that’s set to TOP in 2026. The mall is expected to house retail and F&B outlets.
Aside from the wet market and these malls, you can find plenty of restaurants and cafes in the area.
Schools
If you prioritise having a primary school nearby, the good thing about this May 2023 Farrer Park BTO is that Farrer Park Primary is just next to the BTO. This doesn’t just mean you can save money and time on transport (and have more time for sleep), but it also translates to a higher chance of getting a seat for your child.
Aside from Farrer Park Primary, there are three other primary schools within 1km of this BTO:
- Anglo-Chinese School (Junior)
- St Joseph’s Institution Junior
- St Margaret’s Primary
However, do note that this ACS (Junior) will eventually move to the Barker Road campus in 2039, almost a decade after ACS (Primary) moves to Tengah in 2030.
Sports facilities
Meanwhile, this BTO will be integrated with sports facilities. Some facilities (which are open for public) you can look forward to include a jogging track, an open field and a swimming pool, making it ideal for small families.
This also means that the Kallang/ Whampoa BTO is sandwiched between a primary school and a sports centre. So there will be some human traffic from both sides of the BTO.
May 2023 Kallang/ Whampoa HDB BTO: What’s the potential price appreciation?
The main developments in the area are the sports facilities, integrated development Piccadilly Grand and the North-South Corridor. These should help prop up property prices in the vicinity.
In general, over the past decade, three-room HDB resale flats in Kallang/ Whampoa have seen a price increase of 19.22%, notably higher than the 11.36% seen for the flat type in mature estates.
Due to its city-fringe location, the average prices of HDB resale flats in Kallang/ Whampoa have also stayed above the average prices in mature estates. At the same time, more BTO flats in Kallang/ Whampoa have recently MOP-ed and entered the resale market, from projects such as Tenteram Peak, Bendemeer Light, Kallang Trivista and McNair Towers. Recently MOP-ed flats tend to fetch a higher price due to their newer condition and longer lease.
A similar price trend is observed for the 4-room HDB resale flats, when compared between the average prices for the town and mature estates. Those in Kallang/ Whampoa have seen a price appreciation of 28.62%, as opposed to 24.73% in mature estates.
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May 2023 Kallang/ Whampoa HDB BTO: What are my chances of getting a queue number?
With around 570 units available, this May 2023 Kallang/ Whampoa BTO is the second smallest project at this launch.
If we’re solely basing it on the number of units available, we’ll say that competition will be stiff.
Looking at the application rates from the previous HDB BTO launch in February 2023, there were 1.6 first-timers going for three-room flats, and 3.4 first-timers going for four-room flats. However, these application rates were for both the Farrer Park Fields BTO and Rajah Summit BTO, so we can’t tell how popular the Farrer Park Fields units were.
What we’ve noted since the PLH projects were first launched is that, in general, application rates have been declining.
Given that PLH flats are subject to restrictions such as a 10-year Minimum Occupation Period (MOP) and a subsidy clawback, demand for these flats may have dampened. Those looking to upgrade to a private property may not want to apply for a PLH flat since it will take another five years before they can buy an EC or a private property.
To better gauge your chances of getting a queue number, we suggest that you monitor the application rates during the application period before submitting your application.
Good luck!
(Alternatively, there are resale options near the Kallang/Whampoa BTO location. Check out these recently MOP-ed resale HDB projects near the May 2023 BTO.)
Will you apply for the May 2023 Kallang/ Whampoa HDB BTO? Let us know in the comments section below.
If you found this article helpful, check out our overview of the May 2023 BTO projects and our in-depth reviews:
- Bedok May 2023 BTO
- Serangoon May 2023 BTO
- Tengah May 2023 BTO
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