Huttons’ comments on HDB Dec 2023 BTO projects

5 December 2023

Among the upcoming BTO projects in Dec 2023, a few may attract more interest from applicants.

The Bishan BTO, Sin Ming Residences will be the first flats to be built in Sin Ming since 1988. Flats in Bishan are extremely popular judging from the past BTO exercises and the number of million-dollar flats. The recent 2 BTOs in 2020 saw an overall application rate above 6 for the 4-room flats while Bishan ranks second in terms of the number of million-dollar flats among HDB towns. Furthermore this is possibly the first BTO project in a mature estate with a shorter completion time of less than 3 years. The application rate for 4-room flats at Sin Ming may be between two and four.

Alexandra Peaks BTO in Bukit Merah will be popular among applicants as well. It is surrounded by private housing and a short walk to Redhill MRT station. It is also next to Alexandra Primary School which is popular among parents. The Alexandra Park Connector will be at the doorstep while Delta Swimming Complex is nearby. Alexandra Vale, a BTO in Aug 2022 had an overall application rate of 6.1 for the 4-room flats. For Alexandra, the overall application rate is estimated to be between two and four.

Ulu Pandan Vista in Queenstown will be the last BTO project in Ulu Pandan. Residents will enjoy views over the nearby Holland Grove landed estate. It is HDB’s first car-lite precinct and may have a direct access to Dover MRT station. Fairfield Methodist Primary School and Henry Park Primary School, two super popular primary schools are within 1km. The application rate may be between 1 and 3 similar to earlier PLH launches.

It has been three years since the last BTO project next to Woodlands MRT station. There are limited sites next to Woodlands MRT station for residential use and the BTOs tend to see very good response. Urban Ville@Woodlands which was launched in Aug 2020 had an overall application rate of close to 10 for the 5-room flats. These two BTO projects, Woodlands Beacon and Urban Rise @ Woodlands are probably among the last few sites next to Woodlands MRT station for homes and are expected to see an application rate of more than 5 for the 4-room and 5-room flats.

Chai Chee Green BTO in Bedok sits on land that was recently rezoned to residential with a gross plot ratio of 3.0. The last BTO project in Chai Chee was probably Ping Yi Greens in Mar 2012. The third community care apartments (CCAs) in this BTO project is timely as many flats in the vicinity were built in the 1980s. The CCAs offer seniors an option to continue staying in a familiar area while the other flat types may satisfy pent-up demand for new flats in Chai Chee. The application rate for 4-room flats may be between 2 and 4.