HDB BTO Aug 2022 Tampines Review: 10 Minutes Away from Tampines and Tampines East MRT Stations

·9-min read
HDB BTO Aug 2022 Tampines Review: 10 Minutes Away from Tampines and Tampines East MRT Stations
HDB BTO Aug 2022 Tampines Review: 10 Minutes Away from Tampines and Tampines East MRT Stations

Note: The August 2022 BTO applications are now closed. For more information on the upcoming November 2022 BTO launches, read our in-depth review. Alternatively, find out more about the upcoming HDB SBF (Sale of Balance Flats) exercise in November.

Launched on 30 August 2022, Tampines is one of three mature estates in the HDB BTO Aug 2022 launch, the other two being Bukit Merah and Ang Mo Kio.

Of the three mature estates, Tampines is the furthest from the city centre. However, due to its location on the popular east side of Singapore, the BTO 2022 in Tampines is still likely to see strong demand. Homes in Tampines are often sought-after by applicants as they offer buyers a relatively inexpensive chance to live in a mature estate with a good selection of amenities.

On 7 August 2022, it was announced that Ang Mo Kio residents affected by the Selective En Bloc Redevelopment Scheme (SERS) will have the option to apply for an HDB BTO flat in the August launch.

10% of the BTO flats offered at Central Weave @ Ang Mo Kio BTO, Keat Hong Grange BTO project in Choa Chu Kang, Woodlands South Plains BTO project in Woodlands, and Sun Plaza Spring BTO project in Tampines will be put aside for qualified households under the Resettlement, Relocation, Sers and Tenants’ Priority Scheme.

[ArticleCallout]{ “title”: “HDB Ang Mo Kio SERS (2022): What Singaporeans Are Angry About and Why”, “excerpt”: “To find out the ground sentiments of Singaporeans and SERS, we’ve trawled the Facebook comment section of news articles to suss out what Singaporeans are angry/unhappy about regarding the AMK SERS and the reasons for their furore.”, “link”: “https://www.propertyguru.com.sg/property-guides/hdb-amk-sers-feedback-comments-68536”, “image”: “https://img.iproperty.com.my/angel/1110×624-crop/wp-content/uploads/sites/3/2022/08/AMK-SERS-angry-singaporean-feedback.jpg” } [/ArticleCallout]

Named Sun Plaza Spring, there is a total of 267 units out of which 150 units are 4-room flats and 117 units are 5-room flats. Due to the limited number of flats, there will be increased competition for these BTO flats. Let’s find out more about the Sun Plaza Spring launch.

HDB BTO August 2022 Tampines BTO Map (Sun Plaza Spring)

Location of Sun Plaza Spring Aug 2022 Tampines BTO flats, bounded by Tampines Street 41 and Tampines Street 42. Source: HDB
Location of Sun Plaza Spring Aug 2022 Tampines BTO flats, bounded by Tampines Street 41 and Tampines Street 42. Source: HDB

Want to live in Tampines without having to wait for an HDB BTO flat? Check out the latest Tampines resale flat listings on PropertyGuru.

Sun Plaza Spring Tampines HDB BTO Location (HDB BTO August 2022 Launch)

HDB BTO August 2022 Tampines launch

Sun Plaza Spring

Address

Bounded by Tampines Street 41 and Tampines Street 42

Nearest MRT

Tampines East (Downtown Line), Tampines (East-West Line and Downtown Line)

Nearest bus interchange

Tampines Bus Interchange

Nearest schools

Gongshan Primary School, Tampines North Primary School, Pasir Ris Secondary School, Dunman Secondary School, Yumin Primary School, Chongzheng Primary School

Other nearby amenities

Tampines North Community Club, Tampines Eco Green, Tampines East Community Club, Tampines Mall, Century Square, Tampines Regional Library

The Tampines BTO Aug 2022 Sun Plaza Spring flats are bounded by Tampines Street 41 and Tampines Street 42, in a relatively new part of Tampines that is undergoing development. That being said, the heart of Tampines is within walking distance, so residents should have no trouble accessing most of the amenities they need.

With two MRT stations, Tampines East and Tampines, located about 10 minutes’ walking distance away, the Sun Plaza Spring BTO 2022 flats enjoy relatively good connectivity.

Some noteworthy amenities near the Sun Plaza Spring HDB BTO 2022 site include Tampines Eco Green, Tampines Mall and Tampines Regional Library. There are also numerous schools located near the BTO 2022 project, which is great for families with young children.

Sun Plaza Spring Tampines HDB BTO Price (HDB BTO August 2022 Launch)

Unit type

Sun Plaza Spring BTO Price (HDB BTO August 2022)

Previous Tampines BTO Price (HDB BTO August 2021)

Previous Tampines BTO Price (HDB BTO November 2020)

Median resale flat prices in the area (Q2 2022)

4-room

From $381,000

From $342,000

From $334,000

$510,000

5-room

From $520,000

From $475,000

From $460,000

$625,500

Tampines is classified as a mature estate, so the flats will be priced at a premium compared to those in non-mature estates. However, compared to other mature estates, which are mostly central or on the city fringe, Tampines is quite affordable.

[ArticleCallout]{ “title”: “Non-mature vs Mature BTO Estates: We Ask 8 Singaporeans Which is Better”, “excerpt”: “Debating between a non-mature and a mature estate? Here’s what 8 Singaporeans think.”, “link”: “https://www.propertyguru.com.sg/property-guides/non-mature-vs-mature-bto-55760”, “image”: “https://img.iproperty.com.my/angel-legacy/1110×624-crop/static/2021/09/non-mature-vs-mature-bto.jpg” } [/ArticleCallout]

The Sun Plaza Spring Tampines BTO launch will consist of only 4-room and 5-room flats, which means it is more suitable for families with kids or larger households.

According to the HDB’s resale statistics for Q2 2022, the median resale price for 4-room and 5-room flats was $510,000 and $625,500 respectively. While this does not look impressive from a capital gains point of view, the median resale prices are likely to have been depressed due to the supply of older flats on the resale market. New flat owners who sell soon after their Minimum Occupation Period (MOP) has been fulfilled should enjoy better capital gains.

Budgeting for Your Tampines August 2022 BTO Home Loan

The Tampines August 2022 BTO flats are more expensive than flats in non-mature estates, hence it is important to plan your finances and budget for your new flat.

HDB BTO August 2022 Sun Plaza Spring unit type

Estimated Price

If you take an HDB loan (at 2.6%, 85% LTV)

If you take a bank loan (at 2.3% p.a., 75% LTV)

4-room

$381,000

$57,150 downpayment, estimated $1,469 monthly mortgage repayments

$95,250 downpayment, estimated $1,253 monthly mortgage repayments

5-room

$520,000

$78,000 downpayment, estimated $2,005 monthly mortgage repayments

$130,000 downpayment, estimated $1,711 monthly mortgage repayments

In putting together the above table, we have used price estimates based on previous HDB BTO launches. Note that the actual price you pay depends on the indicative pricing for the BTO Aug 2022 Tampines launch, as well as the unit you are allocated. All prices quoted above do not take into account CPF housing grants.

For the purposes of this illustration, we’ve assumed an interest rate of 2.6% and an LTV of 85% for the HDB loan. For the bank loan, we’ve used 75% LTV and an interest rate of 2.3%, which is the lowest applicable rate on PropertyGuru Finance at the time of writing.

All examples are based on a loan tenure of 25 years. However, you can opt for a shorter loan tenure in order to pay off your loan earlier if you are able to afford higher monthly instalments.

If you need more precise figures, play around with our affordability calculator to calculate the specific amounts you will need to pay. If you require personalised help with financing and home loans, get in touch with one of our PropertyGuru Finance mortgage experts.

Sun Plaza Spring Tampines BTO Amenities (HDB BTO August 2022 Launch)

Relatively Affordable for a Mature Estate

Tampines is a mature estate and thus enjoys an extensive range of established amenities. However, due to its distance from the city centre, the Sun Plaza Spring Tampines BTO Aug 2022 launch is cheaper than the other launches in mature estates. It can thus be an affordable option for those who prefer mature estates.

Easy Access to East of Singapore

Tampines borders neighbouring Pasir Ris, which is home to many recreational and water sports amenities, including Pasir Ris Park, Downtown East and Wild Wild Wet. The Sun Plaza Spring HDB BTO 2022 site is also just a short MRT ride away from Changi Airport and also enjoys relatively easy access to Changi Business Park, making it ideal for people who work in the area.

Walking Distance to Tampines Town Centre Amenities

The Sun Plaza Spring BTO 2022 flats are located within walking distance to the town centre of Tampines, which includes amenities like Tampines MRT, Tampines Mall and Tampines Regional Library, offering residents great convenience.

Conclusion: Is Sun Plaza Spring (August 2022 Tampines HDB BTO) Worth Ballotting for?

If living in a mature estate is a priority for you or you want to live in the east, the BTO 2022 in Tampines can be a good choice, as it is likely to be affordable compared to other mature estates. However, as only 4-room and 5-room flats are available, the launch is only suitable for larger households or families with kids.

Pros of Sun Plaza Spring (August 2022 Tampines HDB BTO)

  • Relatively affordable compared to other mature estates

  • Walking distance to two MRT stations

  • Mature estate with good amenities

  • Not far from Tampines town centre

  • Lots of schools in the area

  • Near Changi

Cons of Sun Plaza Spring (August 2022 Tampines HDB BTO)

  • Relatively expensive compared to non-mature estates

  • 2-room Flexi and 3-room flats are not available

  • Only 267 flats are being launched

  • Not near the city centre

Not sure if you should ballot for the Sun Plaza Spring HDB BTO Aug 2022 Tampines flats? Read about the other BTO 2022 launches in August 2022 below:

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section.

Are you looking to buy a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.

Already found a new home? Let PropertyGuru Finance’s home finance advisors help you with financing it.

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.