HDB BTO November 2022 Queenstown Review: Attractive Mature Estate with Well-Loved Amenities

·9-min read
HDB BTO November 2022 Queenstown Review: Attractive Mature Estate with Well-Loved Amenities
HDB BTO November 2022 Queenstown Review: Attractive Mature Estate with Well-Loved Amenities

In the upcoming November 2022 BTO launch, flats at three separate launch sites in Queenstown will be up for grabs, totalling about 3,250 units.

Two of the sites will be located in the Dover and Buona Vista area, about 15 minutes’ walk from each other. The third site will be in the Queensway area, closer to the city centre. It is likely that at least one of the sites will fall under the Prime Location Public Housing (PLH) model.

HDB BTO November 2022 Queenstown BTO Map

<em>Location of the upcoming Queenstown HDB BTO Nov 2022 flats located along Commonwealth Avenue West. Source: HDB</em>
Location of the upcoming Queenstown HDB BTO Nov 2022 flats located along Commonwealth Avenue West. Source: HDB
<em><em>Location of the upcoming Queenstown HDB BTO Nov 2022 flats located at the confluence of Portsdown Avenue and Queensway. Source: HDB</em></em>
Location of the upcoming Queenstown HDB BTO Nov 2022 flats located at the confluence of Portsdown Avenue and Queensway. Source: HDB
<em>Location of the upcoming Queenstown HDB BTO Nov 2022 flats bounded by Ghim Moh Road, Commonwealth Avenue West. Source: HDB</em>
Location of the upcoming Queenstown HDB BTO Nov 2022 flats bounded by Ghim Moh Road, Commonwealth Avenue West. Source: HDB

Want to buy a home in Queenstown but don’t want to have to wait for an HDB BTO flat? Browse the latest listings for Queenstown HDB resale flats for sale on PropertyGuru.

Queenstown BTO Location (HDB BTO November 2022 Launch)

HDB BTO November 2022 Queenstown

TBA

Address

Commonwealth Avenue West / Ghim Moh Road, Commonwealth Avenue West, Ghim Moh Close (u/c) / Portsdown Avenue, Queensway, Queen’s Crescent (u/c)

Nearest MRT

Dover / Buona Vista / Queenstown

Nearest bus interchange

Nearest schools

School of Science & Technology, Singapore Polytechnic, New Town Secondary School, Dover Court Preparatory School, ACS (International), ACS (Independent), Anglo-Chinese Junior College, Fairfield Methodist School (Primary and Secondary) United World College of SEA / New Town Primary School, Queensway Secondary School

Other nearby amenities

Ulu Pandan Community Club, Buona Vista Community Club, The Star Vista, Holland Village  / Anchorpoint Shopping Centre, Queensway Shopping Centre, Alexandra Hospital, Alexandra Village Food Centre, IKEA Alexandra

The first BTO site (Dover site) will be located on Commonwealth Avenue West, bordered on the other side by the Ulu Pandan Canal. It will consist of 1,330 units of 3-room and 4-room flats and be located right across the road from Dover MRT station.

The second BTO site (Buona Vista site) will be bordered by Commonwealth Avenue West, Ghim Moh Road and the under-construction Ghim Moh Close. Buona Vista MRT station is a three-minute walk away. The project will consist of 960 units of 2-room Flexi, 3-room and 4-room flats.

The third BTO site (Queensway site) will be located along Queensway and the under-construction Queen’s Crescent, about 13 minutes’ walk from Queenstown MRT station. It will consist of 960 Community Care Apartments, 3-room flats and 4-room flats.

All three BTO sites enjoy good locations in a popular mature town with lots of well-loved amenities.

The Dover and Buona Vista sites are near popular lifestyle enclave Holland Village, as well as an abundance of choice schools and tertiary institutions like ACS (Independent), Fairfield Methodist School (Secondary), and Singapore Polytechnic.

[ArticleCallout]{ “title”: “Would You Move House to Live Nearer to a Choice Primary School? We Ask 6 Parents”, “excerpt”: “Here’s what parents have to say.”, “link”: “https://www.propertyguru.com.sg/property-guides/primary-school-singapore-moving-house-48819”, “image”: “https://img.iproperty.com.my/angel-legacy/1110×624-crop/static/2021/05/primary-school-singapore.jpg” } [/ArticleCallout]

The Queensway site is likewise surrounded by popular amenities such as IKEA Alexandra and Queensway Shopping Centre.

5-room flats are not available at any of the three sites, hence this BTO project will be more suitable for smaller households, seniors or couples without kids.

[ArticleCallout]{ “title”: “Buying 3-room HDB Flat vs 4-room HDB Flat: Pros and Cons For Singaporean Couples Choosing to Remain Childless”, “excerpt”: “Click to read more.”, “link”: “https://www.propertyguru.com.sg/property-guides/buy-hdb-flat-what-size-66624”, “image”: “https://img.iproperty.com.my/angel/1110×624-crop/wp-content/uploads/sites/3/2022/06/23101711/3-room-vs-4-room-hdb-flat-1.jpg” } [/ArticleCallout]

Queenstown BTO Price (HDB BTO November 2022 Launch)

Unit type

Queenstown BTO Price (HDB BTO November 2022)

Previous Queenstown BTO Price (HDB BTO May 2022)

Previous Queenstown BTO Price (HDB BTO August 2021)

Median resale flat prices in the area

Community Care Apartment

TBA

2-room Flexi

TBA

3-room

TBA

$369,000 – $481,000

$382,000 – $464,000

$385,000

4-room

TBA

$511,000 – $691,000

$540,000 – $670,000

$829,000

With a total of about 3,250 units up for grabs, there is an abundant supply for those hoping to secure a flat in Queenstown. In addition, the likelihood that one or more of the sites will fall under the PLH model could depress demand. Hence, this is likely to be one of the easier mature estate launches to successfully ballot in.

Based on resale statistics from the HDB, the median resale price of 3-room flats in Q2 2022 was $385,000, while that for 4-room flats was $829,000. Most resale transactions in Queenstown are for older flats which explains the lower pricing for 3-room resale flats in the estate.

Newer flats, particularly those which have just completed that Minimum Occupation Period (MOP), command much higher prices, with some 4-room flats even crossing the million dollar mark.

[ArticleCallout]{ “title”: “Million-Dollar HDB Resale Flat vs a Condo in Singapore: Which Is Worth Buying? (2022)”, “excerpt”: ” As more HDB resale flats are selling for a million dollars, would it be more worth purchasing a condo instead? “, “link”: “https://www.propertyguru.com.sg/property-guides/million-dollar-hdb-resale-flat-vs-condo-67674”, “image”: “https://img.iproperty.com.my/angel/1110×624-crop/wp-content/uploads/sites/3/2022/07/million-hdb-flat-vs-condo.jpg” } [/ArticleCallout]

Budgeting for Your Queenstown November 2022 BTO Home Loan

Thanks to their central location, the Queenstown BTO flats are likely to be priced at a premium even if they fall under the PLH model. It is thus essential to plan your finances and know what you can afford.

HDB BTO November 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 2.3% p.a., 75% LTV)

3-room

$400,000

$60,000 downpayment; estimated $1,542.48 monthly mortgage repayments

$100,000 downpayment; estimated $1,315.83 monthly mortgage repayments

4-room

$600,000

$90,000 downpayment; estimated $2,313.71 monthly mortgage repayments

$150,000 downpayment; estimated $1,973.75 monthly mortgage repayments

The above price estimates are based on past BTO launch prices, but your own unit could be priced differently depending on the indicative pricing of the launch and the unit you are allocated. All the above prices do not take into account CPF housing grants.

For the above examples, we’ve gone with an interest rate of 2.6% and an LTV of 8.5% for HDB loans, an interest rate of 2.3% and an LTV of 75% for bank loans. These figures have been adjusted to follow the December 2021 cooling measures as well as current bank interest rates.

The above examples go on the basis of a 25-year loan. If you are able to afford higher monthly instalments, you can potentially opt for a shorter loan.

For more precise calculations, you can turn to our affordability calculator to work out the monthly instalments for your own loan. In addition, our PropertyGuru Finance mortgage experts are always ready to offer personalised assistance for your specific situation, so do not hesitate to get in touch.

Queenstown BTO Amenities (HDB BTO November 2022 Launch)

Walking Distance to MRT Stations

All three of the HDB November 2022 Queenstown BTO projects are located within walking distance of MRT stations.

The Dover and Buona Vista sites are just across the road from Dover and Buona Vista MRT stations respectively, while the Queensway site is 13 minutes’ walk from Queenstown MRT station.

City Fringe Location With Good Connections to the City Centre

All three BTO sites connect to Raffles Place in the CBD, via the East West Line, without the need for line changes in 13 to 20 minutes.

In addition, residents can also travel to the city easily via Commonwealth Avenue and Queensway.

A Wealth of Established Shopping and Food Options

The Dover and Buona vista sites are located near popular enclave Holland Village as well as other attractive lifestyle destinations like Rochester Park and Star Vista, which have a wealth of good food options. Ghim Moh Road Market and Food Centre is also an institution in the neighbourhood.

Meanwhile, the Queensway project is located near many well-loved amenities such as Queensway Shopping Centre, IKEA Alexandra and Alexandra Village Food Centre.

Many Choice Schools Nearby

The Dover and Buona Vista projects are located near numerous schools and tertiary institutions such as School of Science & Technology, Singapore Polytechnic, ACS (International), ACS (Independent), Anglo-Chinese Junior College, Fairfield Methodist School (Primary and Secondary) and United World College of South East Asia.

Conclusion: Is HDB November 2022 Queenstown BTO Worth Balloting For?

The Queenstown BTO flats are likely to be pricey, but those who can afford them will have the chance to live in an in-demand city fringe mature estate with a wealth of established and popular amenities.

Pros of November 2022 Queenstown HDB BTO

  • Central location

  • Walking distance to MRT stations

  • Plenty of food and lifestyle options

  • Popular shopping options

  • Near many schools and tertiary institutions

  • Large supply of flats

Cons of November 2022 Queenstown HDB BTO

  • Pricey

  • Likely to fall under PLH model

  • 5-room flats not available

The HDB BTO November 2022 Queenstown launch consists of a bumper crop of about 3,250 units, so there is an abundant supply of units.

As 5-room flats are not available, the launch is likely to see interest from smaller households, seniors and couples without kids. However, it might also see demand from smaller households with kids due to the abundance of popular schools in the Dover area.

Applying for November 2022 HDB BTO Flats

Not sure if you should ballot for the HDB BTO November 2022 Queenstown flats? Read about the other upcoming BTO 2022 launches in November 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.