HDB BTO May 2022 Bukit Merah Review: Unbeatable Location Near Redhill and Tiong Bahru MRT

·8-min read
HDB BTO May 2022 Bukit Merah Review: Unbeatable Location Near Redhill and Tiong Bahru MRT
HDB BTO May 2022 Bukit Merah Review: Unbeatable Location Near Redhill and Tiong Bahru MRT

If we were asked to guess which of the HDB BTO May 2022 launches will take centre stage, we would put our money on the Bukit Merah launch. Bukit Merah Ridge is situated less than 15 minutes’ commute from the Central Business District (CBD) and enjoys an excellent location on the city fringe.

Competition for the 1,669 3-room and 4-room flats is expected to be stiff. Similar to the HDB BTO May 2022 Queenstown launch, this batch of HDB BTO May 2022 Bukit Merah flats will also be offered under the Prime Location Public Housing (PLH) model.

If you were looking forward to applying for the other HDB BTO project in Bukit Merah, you’ll have to wait slightly longer. It has been shifted to the August HDB BTO 2022 launch.

Good things come to those who wait and those who can afford to wait for a BTO flat, here’s some exciting news! Within the next three years, around 1,660 HDB BTO flats will be launched for sale in Farrer Park. Given their great centrally-located position, these HDB BTO flats are likely to come under the PLH model (though nothing is confirmed yet!).

HDB BTO May 2022 Bukit Merah BTO Map (Bukit Merah Ridge)

Location of Bukit Merah Ridge May 2022 Bukit Merah BTO flats, bounded by Bukit Merah View, Henderson Road, Tiong Bahru Road, and Lower Delta Road. <a href="https://homes.hdb.gov.sg/home/bto/details/2022-05_BTO_Qk1fTjZDNThfMTY1MDI3NDA4OTUyMA" rel="nofollow noopener" target="_blank" data-ylk="slk:Source: HDB" class="link ">Source: HDB</a>
Location of Bukit Merah Ridge May 2022 Bukit Merah BTO flats, bounded by Bukit Merah View, Henderson Road, Tiong Bahru Road, and Lower Delta Road. Source: HDB

Can’t wait for an HDB BTO flat to be completed but want to live in this area? Browse the latest listings for Bukit Merah resale flats on PropertyGuru.

Bukit Merah Ridge Bukit Merah BTO Location (HDB BTO May 2022 launch)

HDB BTO May 2022 Bukit Merah launch

Bukit Merah Ridge

Address

Bounded by Bukit Merah View, Henderson Road, Tiong Bahru Road, and Lower Delta Road

Nearest MRT

Redhill (East West Line) and Tiong Bahru (East West Line)

Nearest bus interchange

Bukit Merah Bus Interchange

Nearest schools

Gan Eng Seng Secondary School, Crescent Girls’ Secondary School, Alexandra Primary School, Gan Eng Seng Primary School, Bukit Merah Secondary School, Zhangde Primary School

Other nearby amenities

Tiong Bahru Plaza, Delta Sports Hall, Delta Swimming Complex, Leng Kee Community Club, Bukit Merah Community Centre, Henderson Community Club, Tiong Bahru Market & Food Centre

The HDB BTO May 2022 Bukit Merah site is situated in a highly attractive neighbourhood, thanks to the many lifestyle offerings, amenities, and F&B businesses in the area. The site of the Bukit Merah Ridge launch is bounded by Bukit Merah View, Henderson Road, Tiong Bahru Road, and Lower Delta Road, which is about 5 minutes’ walk from Tiong Bahru MRT station. This site will yield 1,669 units, of which are 443 3-room flats and 1,226 4-room flats.

Related article: Greater Southern Waterfront: Here’s Everything We Know so Far about the Area (Including the 6,000 Upcoming BTO Flats)

The location is about as close as one can get to the city centre without actually being in it. Raffles Place MRT station in the CBD is only four stops away, meaning that those who work there can potentially get to work in 15 minutes.

As the Bukit Merah Ridge project is offered under the PLH model, buyers will be bound by restrictions like a longer 10-year Minimum Occupation Period (MOP) and more.

There are also numerous schools within walking distance of the HDB BTO May 2022 Bukit Merah site, including Crescent Girls’ Secondary School and Gan Eng Seng Primary and Secondary Schools.

Bukit Merah Ridge Bukit Merah BTO Price (HDB BTO May 2022 Launch)

Unit type

Bukit Merah Ridge BTO Price (HDB BTO May 2022)

Previous Bukit Merah BTO Price (HDB BTO May 2021)

Previous Bukit Merah BTO Price (HDB BTO July 2013)

Median resale flat prices in the area

3-room

From $377,000

$419,000 to $504,000

From $274,000

$402,500

4-room

From $540,000

$602,000 to $710,000

From $430,000

$750,000

The HDB BTO May 2022 Bukit Merah project is likely to be heavily oversubscribed, thanks to its highly central location.

Due to its location in a mature estate on the city fringe with excellent connectivity, the Bukit Merah Ridge flats are priced at a premium and come with additional subsidies under the PLH model. It’s very likely that the Bukit Merah Ridge flats will enjoy strong resale prices after the MOP is fulfilled.

Based on HDB’s resale statistics for Q1 2022 indicate that the median resale price for 3-room and 4-room flats was $402,500 and $750,000 respectively. If you’re looking for an affordable option in the Bukit Merah neighbourhood, you’re likely looking at older resale flats. Though these older resale flats are experiencing lease decay, we wouldn’t say current prices for such flats are exactly cheap. Thanks to their desirable city fringe location, prices are kept buoyant.

Related article: Comparing HDB Flats in the Same Estate: How Old Should You Go? (BTO vs HDB Resale Price 2022)

Budgeting for Your Bukit Merah May 2022 BTO Home Loan

With the HDB BTO May 2022 Bukit Merah flats priced at a premium (with additional subsidies), it’s never too early to budget for your new flat.

HDB BTO May 2022 Bukit Merah Ridge unit type

Price

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

If you take a bank loan (at 1.6% p.a., 75% LTV)

3-room

$377,000

$56,550 downpayment; estimated $1,454 monthly mortgage repayments

$94,250 downpayment; estimated $1,145 monthly mortgage repayments

4-room

$540,000

$81,000 downpayment; estimated $2,082 monthly mortgage repayments

$135,000 downpayment; estimated $1,639 monthly mortgage repayments

We’ve used the lowest starting price estimates, but depending on the indicative prices for the HDB BTO May 2022 Bukit Merah launch, the exact cost may vary. Any CPF grants are not factored into the above prices.

For HDB loans, we’ve used an interest rate of 2.6% p.a. at 85% LTV in accordance with the new adjusted LTVs after the December 2021 property cooling measures. For bank loans, we’ve used an interest rate of 1.6% p.a. at 75 % LTV.

The above examples are calculated based on a 25-year loan. If you can afford higher monthly instalments, you can opt to shorten your loan tenure.

Need a more precise estimate? Use our affordability calculator to work out how much you will need to pay. If you require personalised assistance with financing and home loans, don’t hesitate to get in touch with one of our PropertyGuru Finance mortgage experts.

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Bukit Merah Ridge Bukit Merah BTO Amenities (HDB BTO May 2022 Launch)

15 Minutes Away From CBD

Commuters can reach the CBD in 15 minutes by public transport thanks to the close proximity to the nearest MRT stations, which are three or four stops away from Raffles Place MRT station, with no line changes required.

By car, the drive to the CBD can be completed in under 10 minutes.

Near Hip Cafes, Bar and More in Tiong Bahru

The Bukit Merah Ridge site is located near the Tiong Bahru neighbourhood, which is highly fashionable and sought-after thanks to an array of hip restaurants, bars, cafes and lifestyle businesses, including yoga studios and bookshops.

Established Amenities Like Tiong Bahru Plaza, IKEA Alexandra and More

Bukit Merah is a mature estate with many established amenities and food centres, including Redhill Food Centre and Tiong Bahru Market, and remains relatively peaceful despite its proximity to the city centre.

Residents will enjoy proximity to Tiong Bahru Plaza for their daily needs, and will also be near amenities in Queenstown such as IKEA Alexandra and Queensway Shopping Centre.

Conclusion: Is the Bukit Merah Ridge (HDB May 2022 Bukit Merah BTO) Worth Balloting For?

The key question when considering the HDB BTO May 2022 Bukit Merah launch is: are you willing to pay for a good location? The flats are likely to be priced at a premium but also offer an unparalleled city fringe location in a highly sought-after neighbourhood.

Pros of Bukit Merah Ridge (May 2022 Bukit Merah HDB BTO)

  • Central location

  • Very short walking distance to nearest MRT station

  • Walking distance to lifestyle and F&B hotspots

  • Many schools within walking distance

Cons of Bukit Merah Ridge (May 2022 Bukit Merah HDB BTO)

  • Pricey

  • 2-room Flexi and 5-room flats not available

  • Likely to be heavily oversubscribed

  • Under the PLH model (subject to additional restrictions when selling/renting after MOP is over)

This project is likely to be heavily oversubscribed due to its attractive location on the city fringe. In particular, we expect to see fierce competition for the 4-room flats as this flat type tends to be the most popular.

The project is also likely to be favourably received by affluent couples without kids and smaller households who are willing to settle for a smaller flat type in order to live in a desirable location.

This launch consists of only 3-room and 4-room flats, so larger households might opt instead for a suburban location like Jurong West or Yishun, in which 5-room flats are available in the May 2022 launch.

Not sure if you should ballot for the HDB BTO May 2022 Bukit Merah flats? Read about the other HDB BTO 2022 launches in May 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.

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