HDB BTO May 2022 Queenstown Review: Attractive Location Near "Branded" Schools

·9-min read
HDB BTO May 2022 Queenstown Review: Attractive Location Near
HDB BTO May 2022 Queenstown Review: Attractive Location Near "Branded" Schools

The upcoming HDB BTO May 2022 Queenstown launch will consist of about 860 3-room and 4-room flats. Think you might be interested? Keep reading.

Mature estates tend to receive lots of attention at every BTO launch, but in particular, Queenstown is an extremely popular location. Just look at the recent batch of Dawson flats that reached MOP in 2021 — they sold for record-high prices! In response to the ‘flipping’ of these BTO flats for large profits (the “lottery effect”), the Government introduced the Prime Location Public Housing (PLH) model late last year. It is not yet known if these Queenstown BTO flats will be offered under the PLH model, but it could well be.

The upcoming Queenstown BTO project enjoys a great location near the upmarket enclave Holland Village, very close to several “branded” schools. It will also enjoy easy access to the city centre via the East West Line on the MRT network, as well as by road.

Update: More HDB BTOs coming your way! In about three years, around 1,660 HDB BTO flats will be launched in Farrer Park. The area will be redeveloped with integrated sports and recreational facilities for you to enjoy.

Upcoming BTO: HDB BTO May 2022 Queenstown BTO Map

Location of May 2022 Bukit Merah BTO flats, bounded by Yuan Ching Road and Kang Ching Road. Source: HDB
Location of May 2022 Queenstown HDB BTO flats, at Ghim Moh Road. Source: HDB

Want to live in the area but can’t wait for an HDB BTO flat? Check out the latest listings for Queenstown resale flats on PropertyGuru.

Upcoming HDB BTO: Queenstown HDB BTO Location (HDB BTO May 2022 launch)

HDB BTO May 2022 Queenstown

Address

Ghim Moh Road

Nearest MRT

Buona Vista MRT

Nearest bus interchange

Nearest bus terminal is Buona Vista Bus Terminal

Nearest schools

Anglo-Chinese School (International), Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Fairfield Methodist Primary School, Fairfield Methodist Secondary School

Other nearby amenities

Ulu Pandan Community Club, The Star Vista, Holland Village, Rochester Park, Rochester Mall, one-north, Ghim Moh Market & Food Centre, Holland Village Market & Food Centre

About 860-unit Queenstown BTO project is located on Ghim Moh Road, about 5 minutes’ walk from Buona Vista MRT station and about 13 minutes’ walk from Holland Village MRT station. Due to its location in a highly popular neighbourhood with many popular schools, the launch is likely to be heavily oversubscribed.

The launch site is in a mature estate situated within walking distance of affluent enclave Holland Village, with its many restaurants, cafes, bars and lifestyle amenities. Residents will also be able to walk to upmarket dining enclave Rochester Park and malls like The Star Vista and Rochester Mall.

The site is also within walking distance of the one-north business park as well as the Ministry of Education, making it ideal for those who work in the area.

Another selling point for families with kids is the proximity of the HDB BTO site to reputable schools such as ACS (Independent), Anglo-Chinese Junior College and Fairfield Methodist Secondary School.

However, as only 3-room and 4-room units are available in this launch, it is likely to draw the attention of smaller households and couples without children who are keen to capitalise on the area’s lifestyle perks.

Upcoming HDB BTO: Queenstown HDB BTO Price (HDB BTO May 2022 Launch)

Unit type

Queenstown BTO Price (HDB BTO May 2022)

Previous Queenstown BTO Price (HDB BTO Aug 2021)

Previous Queenstown BTO Price (HDB BTO Nov 2012)

Median resale flat prices in the area

3-room

$382,000 to $464,000

$310,000 to $374,000

$360,000

4-room

$540,000 to $670,000

$450,000 to $594,000

$779,000

With a medium-sized batch of about 860 3-room and 4-room units up for grabs, the Queenstown May BTO 2022 project looks likely to be heavily oversubscribed. Other than the last launch in August 2021, there have been no launches in Queenstown since November 2012.

Due to its location in a highly popular mature estate close to the affluent Holland Village area, flats will be priced at a premium. Buyers must be willing to pay close to $600,000 for a 4-room flat. If it is launched under the PLH model and there are additional subsidies, it may be cheaper, but buyers will be bound by the additional PLH restrictions.

Based on HDB’s resale statistics, median resale prices for 3-room and 4-room flats in Q1 2022 were $360,000 and $820,000 respectively. If these prices, particularly those for 3-room resale flats, seem a little low, it is because they have been pulled down by the sale of older flats built in the 1960s and 1970s. New flats are likely to enjoy better resale prices after the expiry of the Minimum Occupation Period (MOP).

Budgeting for Your Queenstown May 2022 HDB BTO Home Loan

With the Queenstown May 2022 BTO flats likely priced at a premium, budgeting for your new home is a must before you submit your application.

HDB BTO May 2022 Queenstown 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

$400,000

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

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

4-room

$600,000

$90,000 downpayment; estimated $2,314 monthly mortgage repayments

$150,000 downpayment; estimated $1,821 monthly mortgage repayments

We’ve used approximate price estimates for the examples above, but depending on the unit you’ve been allocated, the exact price you pay might be different. All prices exclude CPF housing grants.

We’ve based our HDB loan calculations on an interest rate of 2.6% and an LTV of 85%, adjusted based on the December 2021 property cooling measures. Our bank loan calculations have been based on an interest rate of 1.6% and an LTV of 75%.

All the above examples are calculated based on a 25-year loan. If you are able to pay higher monthly instalments, you can opt for a shorter loan tenure in order to be debt-free sooner.

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

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Upcoming HDB BTO: Queenstown HDB BTO Amenities (HDB BTO May 2022 Launch)

An Array of Lifestyle and Food Options at Holland Village

The upcoming Queenstown HDB BTO 2022 launch is situated in an affluent area, close to monied enclaves Holland Village and Rochester Park, thanks to which residents can enjoy an array of chic restaurants, cafes and bar options.

Holland Village, in particular, is home to numerous well-loved food options, including the Holland Village Market & Food Centre, 363 Katong Laksa and Crystal Jade Hong Kong Kitchen.

The BTO project is also located near Ghim Moh Market & Food Centre, where there are many well-loved stalls.

Close to Popular Schools Like ACS (I), Fairfield Methodist Schools

The Queenstown BTO 2022 project is located within walking distance of reputable schools Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Anglo Chinese School (International), Fairfield Methodist Primary School and Fairfield Methodist Secondary School.

Near Buona Vista MRT, Which Connects to City Centre in 10 to 20 Minutes

The upcoming HDB BTO 2022 project in Queenstown is located five minutes’ walk from Buona Vista MRT station, which connects directly to Raffles Place MRT in the CBD in about 17 minutes, no line changes are required.

Residents can also drive easily to the city centre in 10 to 15 minutes via the AYE, Holland Road or Commonwealth Avenue.

Near One-North Business Park

The Queenstown BTO 2022 project is located within walking distance of the business park at one-north, making it convenient for anyone working in the area. If residents are planning to rent out a room (or the entire unit after MOP), there is an opportunity for it too.

Residents can also enjoy the many restaurants and cafes that have popped up to serve those working there, including Peperoni Pizzeria @ Biopolis and Jimmy Monkey Cafe & Bar.

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

The Queenstown BTO launch is ideal for those who have the budget for a flat in a desirable and well-located neighbourhood. Due to the availability of only 3-room and 4-room flats, it is better suited to couples without children and smaller households.

Pros of the Queenstown May HDB BTO 2022

  • Attractive neighbourhood with plenty of food and lifestyle options

  • Five minutes’ walk to nearest MRT station

  • Near several popular schools

  • Connects to the city centre in 10 to 20 minutes

  • Near One-North business park

Cons of the Queenstown May HDB BTO 2022

  • Likely to be pricey

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

  • Competition for flats is likely to be fierce

  • May be offered under PLH model

Due to its desirable location and good connectivity to the city centre, expect competition for the BTO May 2022 Queenstown launch to be fierce.

The project is likely to be popular with small and affluent households due to its proximity to lifestyle destinations like Holland Village and One-North business park, as well as its direct MRT line to the CBD.

Although the proximity to “branded” schools might be a plus for some families with kids, the availability of only 3- and 4-room flats might cause larger families to opt for less central neighbourhoods where 5-room flats are available.

One thing is for sure, the Queenstown launch is going to be an expensive one. Those on a tight budget might prefer to opt for BTO flats in non-mature estates like Yishun and Jurong West, both of which are also available in the May BTO 2022 launch.

Not sure if you should ballot for the HDB BTO May 2022 Queenstown 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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