Singapore, 17 February 2022 - HDB has just released the BTO exercise for February 2022. Below are our analyses:
1. Most popular project launches
The BTO projects at Kallang/Whampoa and Geylang (Dakota Crest) may be most popular.
King George's Heights at Kallang/ Whampoa - Demand for BTO flats in Kallang/ Whampoa has always been high. For this launch, King George's Heights is conveniently located within walking distance to the Lavender MRT station and near Jalan Besar MRT station. It is also situated at the fringe of the downtown core which will be very convenient for couples working in CBD.
As this is the second PLH model flat, we can expect strong demand for these flats since prices seemed to be slightly lower than previous BTO launches at Kallang/Whampoa, possibly to compensate for the longer MOP period and more stringent selling/buying restrictions. The site is also quite near the first launch at Rochor - River Peaks. After seeing the strong demand and popularity of the first launch in Rochor, some potential buyers may be motivated to apply for these flats.
Dakota Crest at Geylang - is conveniently situated between two MRT stations - Mountbatten and Dakota MRT stations. There are ample amenities and a wide range of food and shopping choices. For instance, there are food centres, markets, schools, sports and community clubs near the project. The project is also situated beside the Geylang River. Some HDB dwellers may enjoy strolling or exercising along the waterway.
2. Least popular projects
The Tengah and Yishun projects may be less popular than the BTO launches at Kallang/Whampoa and Geylang. These sites are further from the downtown area and have lesser amenities. The government has already launched a significant number of flats of about 12,000 units in Tengah from May 2019 to November 2021. However, the completion time for some of these projects in Yishun and Tengah is relatively shorter at around 30 over months, whereas the sites at Geylang and Kallang/Whampoa are slated to be completed after around 63 and 59 months respectively.
The Tengah project Plantation Creek is situated beside an expressway and dwellers may not like the dust and noise. But the side is very near a proposed primary school and a health/ medical care centre.
3. Expected overall demand
Demand may remain robust. Flat supply is still lacking and prices of HDB resale flats are holding steady despite the new cooling measures. Buyers have the option of purchasing BTO flats in Yishun and Tengah which are cheaper and for the current launches, the completion periods are not too long. Buyers with better affordability have the option of purchasing the PLH flats in Kallang/ Whampoa or BTO flats in Geylang.