Should you simply bought engaged or turned 35, HDB BTO launches can have taken on a brand new that means for you. In that case, you may already know that the February 2022 BTO launch occurred lately, with 3,953 models being launched throughout 6 estates.
The BTO train closed on 23 February 2022, and people of you who’ve already balloted may now be questioning whether or not you made the best selection, whereas those that didn’t may be a bit nervous about lacking out. Right here’s the lowdown on the HDB February 2022 launch.
HDB BTO Launch February 2022 Overview
| Space | Venture names | Flat kind | Worth (excluding grants) |
| Tengah | Parc Flora @ Tengah / Plantation Creek | 2-room flexi | $132,000 – $182,000 |
| 3-room | $231,000 – $273,000 | ||
| 4-room | $309,000 – $403,000 | ||
| 5-room | $420,000 – $525,000 | ||
| Yishun | Grove Spring @ Yishun / Yishun Boardwalk | 2-room flexi | $95,000 – $149,000 |
| 3-room | $180,000 – $248,000 | ||
| 4-room | $270,000 – $374,000 | ||
| 5-room | $385,000 – $490,000 | ||
| Geylang | Dakota Crest | 2-room flexi | $205,000 – $315,000 |
| 3-room | $352,000 – $456,000 | ||
| 4-room | $522,000 – $688,000 | ||
| Kallang/Whampoa | King George’s Heights | 3-room, 4-room | $353,000 – $462,000 |
| 4-room | $488,000 – $675,000 |
HDB BTO Launch Feb 2022: Tengah (Parc Flora @ Tengah / Plantation Creek)
You may be scratching your head questioning the place the hell Tengah is, and for good cause—Tengah doesn’t exist but. It’s a model new neighbourhood, positioned west of Bukit Batok and north of Jurong East, that the federal government is growing from scratch, so for the time being it’s nothing however a giant development web site.
Following within the footsteps of Punggol, Tengah goes to be beneath heavy development for a few years and, with the one HDB flats within the space being model new BTO flats, is prone to be populated largely by younger households That could possibly be heaven or hell relying on whether or not you your self have younger kids.
Tengah can be dwelling to Singapore’s first car-free city centre, with roads working underground in order to not encroach upon the bottom degree streets. There are additionally plans to show it right into a inexperienced neighbourhood, with numerous parks and group gardens.
It doesn’t matter what the (far into the longer term) perks may be, most individuals who picked Tengah in all probability did so for the comparatively low, non-mature property costs.
If in case you have the endurance to endure years of development, the situation may wind up being first rate in a while, because it’s not removed from the Jurong East purchasing malls and the Jurong Lake District, which is being developed into the second CBD.
One other piece of fine information is that finally, when the Jurong Area Line opens in 2028, the Tengah BTO flats can be positioned not more than 5 minutes’ stroll from the closest station.
HDB BTO Launch Feb 2022: Yishun (Grove Spring @ Yishun / Yishun Boardwalk)
The Yishun BTO flats turned out to be most cost-effective ones on the February 2022 launch, costing even lower than Tengah.
Why so low-cost? Check out the map, and also you’ll see why. The Yishun BTO launch is way away from Yishun MRT, the closest station. To be exact, it’s greater than 20 minutes’ stroll away. Certain, you’ll be able to mitigate this by biking to the MRT station, however for a lot of Singaporeans, that’s only a bit too far. Meaning the commute to the CBD will take greater than an hour. What’s extra, most of Yishun’s important facilities like North Level Metropolis and the bus interchange are clustered across the MRT.
One benefit of the Yishun BTO undertaking is that it comes with a shorter ready time of two.5 years or much less. That’s one thing to think about for budget-conscious consumers who don’t need to fork out the money for a resale flat however don’t need to wait 3-5 years for a BTO flat, both.
One other perk is that the BTO undertaking, being on the northeast coast of Singapore, is sort of near nature. The ocean is only a few minute’s stroll away, and you may as well cycle simply to the seaside at Sembawang Park by way of the park connectors.
In case your boss is okay to allow you to make money working from home more often than not and your dream is to reside in a secluded space near nature, the Yishun BTO undertaking might be the closest you may get to a peaceable rural existence.
HDB BTO Launch Feb 2022: Geylang (Dakota Crest)
Now, we’ve come to the BTO flats in mature cities, which candidates normally struggle tooth and nail over. The Geylang BTO flats are going to be particularly standard due to their incredible location.
For starters, Dakota Crescent is just 5 minutes’ stroll away from not one however two MRT stations, Mountbatten and Dakota. It’s positioned alongside the Geylang River, so some profitable candidates will quickly be capable of say they reside by the waterfront. Kallang and the CBD space will not be far-off both, whether or not by automotive or public transport.
The Geylang undertaking can also be a sensible choice for many who need to reside in a neighbourhood that’s made up of extra than simply HDB flats. Say what you need about Geylang, however it’s bought numerous good hawker choices, and can also be near the colourful Paya Lebar and Geylang Serai areas.
Households with children may be attracted by the proximity of Dunman Excessive Faculty and Chung Cheng Excessive Faculty (Important), however as there aren’t any 5-room flats at this launch, larger households may discover themselves trying elsewhere.
HDB BTO Launch Feb 2022: Kallang / Whampoa (King George’s Heights)
The Kallang / Whampoa launch falls beneath the brand new Prime Location Housing (PLH) mannequin. The PLH principally diminishes the funding potential of flats in central areas with the intention of creating them extra inexpensive.
PLH flats include a Minimal Occupation Interval (MOP) of 10 years reasonably than the same old 5, which suggests you’ll be able to’t promote your flat with out having lived in it for 10 years. And PLH flat homeowners will not be allowed to lease out the entire unit, ever, though they’ll lease out rooms within the flat. The federal government additionally plans to place in place stricter eligibility circumstances for future PLH resale flat consumers, which can make it even tougher to make a fast buck out of your property.
On the intense aspect, PLH flat consumers could also be eligible for extra subsidies that they need to pay again if/once they unload the flat.
It’s a pity the PLH is so restrictive, because the Kallang / Whampoa BTO web site is in an awesome location inside strolling distance of three MRT stations on 3 traces, Lavender (7 minutes’ stroll), Jalan Besar (8 ninutes’ stroll) and Farrer Park (11 minutes’ stroll).
Positioned close to the Rochor Canal, the flats are within the Jalan Besar space, proper subsequent door to Little India and a brief distance from Bugis. Whether or not you need to store at Mustafa, eat Thai meals at Golden Mile, borrow books on the Nationwide Library or go for drinks at Haji Lane, it’ll all be inside strolling distance of dwelling.
Nevertheless, for a lot of consumers, the PLH remains to be a problem. Though the PLH does decrease the worth of the flats, they’re nonetheless removed from low-cost. At such costs, it may be higher to accept a metropolis fringe location like Geylang that’ll be a greater funding in the long term.
HDB mortgage or financial institution dwelling mortgage?
HDB loans can seem to be the better selection at a look, however can find yourself costing you more cash in the long term.
With HDB loans, you pay a downpayment of as little as 10% utilizing CPF, which is nice in case you’re money strapped. HDB mortgage rates of interest are additionally pegged to CPF rates of interest, which suggests they solely fluctuate very periodically.
The catch is that these rates of interest are fairly excessive—at present 2.6%. So, you possibly can find yourself paying extra in the long term, particularly in case your mortgage tenure is lengthy.
Financial institution loans, alternatively, can price extra upfront as you have to pay a deposit of no less than 25%, of which no less than 5% have to be in money (the remaining may be paid with CPF). The benefit is that rates of interest are normally decrease than these of HDB loans.
Should you’re chasing the bottom rates of interest and might tolerate fluctuations, you’ll be able to go for a floating price financial institution mortgage package deal. These have a tendency to start out out with decrease rates of interest however are very unstable, so that you by no means know the way a lot it’s important to pay every month. Nevertheless, in gentle of the truth that rates of interest are anticipated to rise over the following yr, you may need to decide as an alternative for a set price dwelling mortgage which locks in a set rate of interest for a lot of years.
Earlier than signing up for a mortgage, at all times evaluate rates of interest first. And it doesn’t matter what sort of mortgage you select, proceed to be looking out for alternatives to refinance in a while, as doing so can prevent 1000’s of {dollars} in curiosity.
Try our BTO shopping for information and HDB downpayment information right here
