HDB BTO May 2022 Jurong West Review: Good Investment in Singapore’s Second CBD

·8-min read
HDB BTO May 2022 Jurong West Review: Good Investment in Singapore’s Second CBD   
HDB BTO May 2022 Jurong West Review: Good Investment in Singapore’s Second CBD

The May 2022 HDB BTO launch in Jurong West will see about 1,010 2-room Flexi, 3-room, 4-room and 5-room flats.

Located in a non-mature estate where great transformations are planned, the upcoming Jurong West HDB BTO 2022 launch may just be one of the most promising HDB BTO launches of the year so far from an investor’s point of view. It is situated at a scenic site overlooking Jurong Lake Gardens and could find itself in the heart of Singapore’s second CBD.

The site also offers an excellent quality of living thanks to its proximity to nature, and the variety of sporting and recreational amenities available at Jurong Lake Gardens and the nearby park connector.

Update: Good news! HDB, Sport Singapore (SportSG) and the Urban Redevelopment Authority (URA) announced that there will be about 1,660 HDB BTO flats in Farrer Park. The HDB BTO project will be launched for sale within three years. Different integrated sports and recreational facilities will be made available for you to enjoy!

Upcoming HDB BTO: HDB BTO May 2022 Jurong West BTO Map

Location of May 2022 Jurong West BTO flats, bounded by Road. Source: HDB
Location of May 2022 Jurong West HDB BTO flats, bounded by Yuan Ching Road and Kang Ching Road. Source: HDB

Want to live in Jurong West without waiting for a BTO flat to be built? Check out the latest listings for Jurong West resale flats on PropertyGuru.

Upcoming HDB BTO: Jurong West HDB BTO Location (HDB BTO May 2022 launch)

HDB BTO May 2022 Jurong West

Address

Bounded by Yuan Ching Road and Kang Ching Road

Nearest MRT

Lakeside MRT

Nearest bus interchange

Boon Lay Bus Interchange

Nearest schools

Yuan Ching Secondary School, Lakeside Primary School, Boon Lay Garden Primary School, Rulang Primary School, Shuqun Primary School, Yuhua Secondary School

Other nearby amenities

Jurong Lake Gardens, Taman Jurong Community Club, Taman Jurong Market & Food Centre

The upcoming Jurong West BTO site is strategically located right beside Jurong Lake Gardens, bounded by Yuan Ching Road and Kang Ching Road, in a scenic area that is currently under redevelopment.

Over the next decade, the Government intends to transform and expand the Jurong Lake District, turning it into Singapore’s second CBD and raising the supply of jobs and housing in the area. The opening of the Jurong Region Line on the MRT network, which begins in 2027, will give connectivity to the area a boost. This could bode well for those who are concerned about their flats’ investment potential.

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

The site’s location, about 8 minutes’ walk from Lakeside MRT station, will enable residents to travel to Raffles Place MRT in the CBD without having to change lines, on a ride that takes about 32 minutes. Residents will also be just two MRT stops away from Jurong East, a major shopping and leisure destination with popular shopping malls like Jem, Westgate and Jcube.

The Jurong West May 2022 launch comprises about 1,010 2-room Flexi, 3-room, 4-room and 5-room flats, making it suitable for a wide range of household sizes.

Upcoming HDB BTO: Jurong West HDB BTO Price (HDB BTO May 2022 Launch)

Unit type

Jurong West BTO Price (HDB BTO May 2022)

Previous Jurong West BTO Price (HDB BTO Nov 2021)

Previous Jurong West BTO Price (HDB BTO Feb 2019)

Median resale flat prices in the area

2-room Flexi

$95,000 to $160,000

3-room

$173,000 to $229,000

$185,000 to $243,000

$333,900

4-room

$264,000 to $321,000

$257,000 to $364,000

$457,000

5-room

$338,000 to $457,000

$530,000

Considering the investment potential in light of the redevelopment of the Jurong Lake District, flats in the Jurong West area are likely to be reasonably priced.

Based on HDB’s resale statistics, the median price of Jurong West resale flats in Q1 2022 was $330,000, $440,000 and $538,900 for 3-room, 4-room and 5-room flats respectively. This indicates excellent resale potential after the 5-year Minimum Occupation Period (MOP) expires.

Budgeting for Your Jurong West May 2022 HDB BTO Home Loan

Before you ballot for a flat, it’s a good idea to understand how much you can afford to set aside to pay for your new home.

HDB BTO May 2022 Jurong West 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)

2-room Flexi

$150,000

$22,500 downpayment; estimated $578 monthly mortgage repayments

$37,500 downpayment; estimated $455 monthly mortgage repayments

3-room

$200,000

$30,000 downpayment; estimated $771 monthly mortgage repayments

$50,000 downpayment; estimated $607 monthly mortgage repayments

4-room

$300,000

$45,000 downpayment; estimated $1,157 monthly mortgage repayments

$75,000 downpayment; estimated $910 monthly mortgage repayments

5-room

$400,000

$60,000 downpayment; estimated $1,542 monthly mortgage repayments

$100,000 downpayment; estimated $1,214 monthly mortgage repayments

We have used estimates based on past BTO prices, but depending on your chosen unit, the exact price you pay is likely to be different. All prices used in the above example exclude CPF housing grants.

For HDB loans, we’ve used an interest rate of 2.6% and an LTV of 85%, adjusted based on the December 2021 property cooling measures. For bank loans, we’ve used an interest rate of 1.6% and an LTV of 75%.

All of the above calculations have been done on the basis of a 25-year loan. If you can afford to pay higher monthly instalments, you can opt for a shorter loan tenure in order to pay off your loan faster.

For a clearer idea of how much you need to set aside, head to our affordability calculator. You can also speak with one of our Finance Home Loan Advisors for personalised advice about home loans and financing.

Upcoming HDB BTO: Jurong West HDB BTO Amenities (HDB BTO May 2022 Launch)

Located in Singapore’s Future Second CBD

The Jurong Lake District is undergoing redevelopment in line with the Government’s plans to turn it into Singapore’s second CBD, with new offices and residences in the works. The Jurong Region Line, which is slated to open in 2027, will also boost connectivity to the area.

This is good news for buyers who wish to be able to work near their place of residence, as well as those who wish to purchase a flat with good investment potential.

Scenic Lakeside Location Near Jurong Lake Gardens and Jurong Park Connector

The upcoming Jurong West BTO project is located right next door to Jurong Lake Gardens and the Jurong Park Connector, making it ideal for nature lovers, sports lovers, dog owners, as well as families with kids. Jurong Lake Gardens is home to many walking trails, an Active SG gym, water sports amenities and a dog run.

Thanks to the location of the BTO site, residents in certain units might also enjoy breathtaking views over the lake and gardens.

A Short Ride from Jurong East Shopping Malls

The Jurong West BTO project is located just two MRT stops from Jurong East, giving residents easy access to a myriad of popular shopping malls including Westgate, Jem, Jcube and IMM.

Residents are also located about half an hour’s walk from Jurong Point, the biggest shopping mall in the Boon Lay area.

Direct Connection to the CBD via Lakeside MRT

The BTO project is about 8 minutes’ walk from Lakeside MRT station, which connects directly to Raffles Place MRT in about 32 minutes without the need to change lines, making it convenient for those who work in the CBD.

Conclusion: Is the HDB May BTO 2022 in Jurong West Worth Balloting For?

The Jurong West BTO project is a smart choice for investment-conscious buyers who wish to benefit from the development of the Jurong Lake District.

Pros of the Jurong West May HDB BTO 2022

  • Scenic location near Jurong Lake Garden

  • Likely to be reasonably priced

  • Good investment potential due to the development of Jurong Lake District

  • Walking distance to Lakeside MRT station

  • Two MRT stops from Jurong East shopping precinct

  • Near park connector and water sports facilities

Cons of the Jurong West May HDB BTO 2022

  • Construction from redevelopment in the area

  • Located quite far west; long travelling time to other parts of Singapore

  • Likely to be priced higher than other non-mature HDB BTO launches

The Jurong West launch is likely to be a good financial decision for investment-minded buyers, and also has the advantage of offering a full range of flat types from 2-room Flexi to 5-room flats. What is more, the development of the Jurong Lake District and the opening of the Jurong Region Line are likely to boost property prices in the area in the future.

Although not as cheap as launches in newer or under-construction neighbourhoods like Tengah or Punggol, this HDB BTO launch will still be relatively affordable, since Jurong West is classified as a non-mature estate. For those who can afford it, it could be a smart buy that will pay off in future.

Not sure if you should ballot for the HDB BTO May 2022 Jurong West flats? Read about the other upcoming 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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