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May 2023 BTO Kallang/Whampoa Review: Central Location in Little India

May 2023 BTO Kallang/Whampoa Review: Central Location in Little India
May 2023 BTO Kallang/Whampoa Review: Central Location in Little India

Note: The May 2023 BTO launches have been released. The application deadline has been extended and will close on 8 June 2023, 11.59pm.

This May 2023 BTO sales exercise is particularly exciting for households hoping to secure a unit in a mature estate. Units in three mature estates, namely Kallang/Whampoa, Bedok, and Serangoon are now up for grabs.

Of the three, the Farrer Park Arena Kallang/Whampoa May 2023 BTO project enjoys the most central location in the heart of Little India. However, as we expected, it falls under the Prime Location Public Housing (PLH) model.

Only 569 3-room and 4-room Farrer Park Arena Kallang/Whampoa BTO flats are available in the May 2023 BTO exercise, which means demand could be high from couples without kids or smaller households. Read on to find out more about this May 2023 BTO project.

In the meantime, if you need a quick refresher on how to apply for a BTO flat in 2023, watch our video guide.

BTO Flat Application Guide (2023)

PS: The new HDB Flat Eligibility (HFE) letter has kicked in! If you’re applying specifically for the May 2023 BTO launch, however, you’ll only need to submit your preliminary HFE check alongside your BTO application.

Farrer Park Arena HDB BTO May 2023 Kallang/Whampoa BTO Map

Location of the Farrer Park Arena Kallang/Whampoa May 2023 BTO project, bounded by Farrer Park Road and Dorset Road. Source: <a href="https://homes.hdb.gov.sg/home/bto/details/2023-05_BTO_S1dOX04xQzQ2XzE2ODIzMTc5NDgzMjc" rel="nofollow noopener" target="_blank" data-ylk="slk:HDB;elm:context_link;itc:0;sec:content-canvas" class="link ">HDB</a>
Location of the Farrer Park Arena Kallang/Whampoa May 2023 BTO project, bounded by Farrer Park Road and Dorset Road. Source: HDB

Farrer Park Arena Kallang/Whampoa HDB BTO Location (HDB BTO May 2023 Launch)

Name of the Kallang/Whampoa HDB BTO May 2023 project

Farrer Park Arena

Address

Bounded by Farrer Park Road and Dorset Road

Types of BTO flats available

3-room and 4-room flats

Nearest MRT stations

Little India and Farrer Park MRT stations

Nearest amenities

Berseh Food Centre, Centrium Square, City Square Mall, Jalan Besar Plaza, Jalan Besar Stadium and Swimming Complex, KK Women’s and Children’s Hospital, Kwong Wai Shiu Hospital, Mustafa Centre, Pek Kio Community Centre, Tekka Centre, and Velocity @ Novena Square

Nearby schools

Farrer Park Primary School and St. Joseph’s Institution (SJI) Junior

The Farrer Park Avenue Kallang/Whampoa May 2023 BTO flats are in a highly central location on Farrer Park Road and Dorset Road. They are about a 10-minute walk from Little India MRT station on the North East Line (NEL) and Downtown Line (DTL), and a 15-minute walk from Farrer Park MRT on the NEL. This BTO 2023 site is also located quite near a few other MRT stations, including Jalan Besar a 17-minute walk away and Rochor a 23-minute walk away.

There is no shortage of shopping, dining, and lifestyle amenities in the area, including Mustafa Centre, City Square Mall, and Tekka Centre, all of which are located within walking distance. Meanwhile, lifestyle hubs Jalan Besar, Bugis, and Kampong Glam can be reached on foot. Future residents who work in the CBD will also enjoy a short commute via MRT.

The Farrer Park Arena May 2023 BTO project’s main disadvantages affect larger families: the low number of schools within walking distance and the lack of 5-room flats.

Farrer Park Arena Kallang/Whampoa HDB BTO Price (HDB BTO May 2023 Launch)

Unit type

Farrer Park Arena Kallang/Whampoa BTO price (HDB BTO May 2023)

Previous Kallang/Whampoa BTO price (HDB BTO February 2023)

Previous Kallang/Whampoa BTO price (HDB BTO November 2022)

Median resale flat prices in the area (Q1 2023)

3-room flat

From $362,000

$356,000 to $449,000

$335,000 to $447000

$380,000

4-room flat

From $505,000

$484,000 to $631,0000

$509,000 to $690,000

$735,000

Due to the unavailability of 5-room flats, the Farrer Park Arena May 2023 BTO project is likely to be most attractive to small households and couples without children.

According to HDB’s resale statistics for Q1 2023, the median resale price in Kallang/Whampoa for 3-room flats was $380,000, while that for 4-room flats was $735,000.

These resale prices look low compared to the indicative pricing of recent BTO launches in the area. However, it should be noted that a large proportion of past resale flats are older flats reaching the tail end of their lease. New buyers who intend to sell their flat right after the expiry of the Minimum Occupation Period (MOP) will enjoy higher resale prices, although the extent to which the PLH model will dampen capital gains has yet to be seen.

Budgeting for Your Farrer Park Arena Kallang/Whampoa May 2023 BTO Home Loan

Farrer Park Avenue Kallang/Whampoa May 2023 BTO flat types

Prices

If you take an HDB loan (at 2.6% p.a., 80% LTV)

If you take a bank loan (at 3.4% p.a., 75% LTV)

3-room flat

From $362,000

$72,400 down payment, estimated $1,314 monthly mortgage repayments

$90,500 down payment, estimated $1,345 monthly mortgage repayments

4-room flat

From $505,000

$101,000 down payment, estimated $1,833 monthly mortgage repayments

$126,250 down payment, estimated $1,876 monthly mortgage repayments

All prices stated above are the indicated starting prices of each Farrer Park Avenue Kallang/Whampoa May 2023 BTO flat type, and exclude CPF Housing Grants.

We have used an interest rate of 2.6% and a Loan-to-Value (LTV) limit of 80% for the HDB loan examples and an interest rate of 3.4% and an LTV of 75% for the bank loan examples. The above examples go on the basis of a 25-year loan. However, if you can make higher monthly repayments, you may want to opt for a shorter loan.

For a more accurate estimate appropriate to your situation, you can use PropertyGuru’s affordability calculator. You can also chat with a PropertyGuru Finance Mortgage Expert for personalised advice on home loans and financing.

Farrer Park Arena Kallang/Whampoa BTO Amenities (HDB BTO May 2023 Launch)

Highly Desirable City Centre Location

The Farrer Park Arena Kallang/Whampoa May 2023 BTO project is located in the heart of Little India, close to well-loved amenities like Mustafa Centre and Tekka Centre, and a short distance from popular shopping, dining, and lifestyle locations like Bugis, Kampong Glam, and Jalan Besar.

Excellent Public Transport Connectivity

The Farrer Park Arena Kallang/Whampoa May 2023 BTO project is located a 10-minute walk from Little India MRT station on the DTL and NEL, and a 15-minute walk from Farrer Park MRT station on the NEL. It is also a 17-minute walk from Jalan Besar MRT station and a 23-minute walk from Rochor MRT stations, both on the DTL.

A Wealth of Shopping, Dining, and Lifestyle Options Nearby

Thanks to its location in Little India, the Farrer Park Arena Kallang/Whampoa May 2023 BTO project enjoys access to a wealth of Indian and local eateries. Residents can also walk to Jalan Besar, with its chic cafes and well-loved dining options. Just a stone’s throw away is Kampong Glam, with its many restaurants, cafes and bars, and Bugis, with its many shopping malls and entertainment options.

Conclusion: Is Farrer Park Arena HDB May 2023 Kallang/Whampoa BTO Project Worth Balloting for?

The Farrer Park Arena Kallang/Whampoa May 2023 BTO flats are suitable for smaller households with a bigger budget (i.e. “dual income, no kids” couples who are willing to pay more for an attractive location). As the flats fall under the PLH model, they are more suitable for those who wish to live in them long-term rather than treat them purely as an investment.

Pros of the Farrer Park Arena Kallang/Whampoa May 2023 HDB BTO Launch

  • Central location

  • Walking distance to several MRT stations

  • Lots of good food options nearby

  • Lots of shopping and entertainment options

Cons of the Farrer Park Arena Kallang/Whampoa May 2023 HDB BTO Launch

  • Pricey compared to other May 2023 BTO projects

  • Falls under the PLH model

  • 5-room flats not available

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

Applying for May 2023 BTO Flats

Not sure if you should ballot for the Farrer Park Arena Kallang/Whampoa May 2023 BTO flats? You could either go for a Sale of Balance Flats (SBF) unit or read about the other May 2023 BTO projects before applying below:

Please be informed that first-time BTO candidates who receive a BTO ballot but do not choose a flat will be regarded as second-timers for the next year as of the August 2023 BTO launch. They won’t be allowed to apply for a BTO flat at all for a year if they don’t choose a flat on their second BTO application.

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