Huttons' comments on Aug 2022's BTO projects | Huttons Group

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Huttons’ comments on Aug 2022’s BTO projects

Huttons Research

Four sites under the Aug 2022 BTO exercise stood out and are likely to attract keen interest. They are Alexandra Vale, Havelock Hillside, Central Weave @ AMK and Woodlands South Plains.

HDB launches another two PLH BTO projects at Bukit Merah. A total of 5 PLH BTO projects have been launched in 2022. Since the inaugural launch in Nov 2021, there have been 6 PLH BTO projects. PLH flats do not seem that exclusive anymore.

List of PLH Projects to date

Source: HDB, Huttons Research

The Alexandra Vale site is surrounded by private housing. It could have been used for private housing but the Government decided to push out a BTO project for inclusivity. It is right next to Redhill MRT station and near to amenities like hawker centre, market and schools. It is within a ten minutes’ train ride to Raffles Place. Despite it being situated right next to Redhill MRT station, it is priced slightly lower than Bukit Merah Ridge possibly due to its distance from the city centre. The overall application rate is estimated to be between 4 and 6.

The other BTO at Bukit Merah, Havelock Hillside is also in a prized location and is close to the upcoming Havelock MRT station. Tiong Bahru market and Tiong Bahru MRT station are within a ten minutes’ walk. The CBD, Orchard Road and Great World City are within a 5 minutes’ drive. Residents staying here are just three MRT stops away from Marina Bay via the Thomson East Coast line. Havelock Hillside is priced slightly higher than Alexandra Vale due to its closer proximity to the city centre. The overall application rate is estimated to be between 4 and 6.

Central Weave @ AMK is the first BTO in Ang Mo Kio Central since Cheng San Court in 2012. The BTO is right next to Ang Mo Kio Central where there are plenty of shops and amenities. AMK Hub, the bus interchange and MRT station are in close proximity. Overall the application could be around 10.

HDB did not offer any 3-room flats in Central Weave @ AMK which is odd. While HDB had allowed residents affected by SERS in Ang Mo Kio to apply for flats at Central Weave, omitting the provision of 3-room flats will mean the 364 affected SERS owners of 3-room flats in Ang Mo Kio will have to downsize or buy a bigger flat at Central Weave @ AMK. This may be seen as excluding the 3-room SERS residents the opportunity to apply for a better located flat location. 

Buyers may want to consider the Woodlands South Plains BTO which is more affordable and has a short completion time of 45 months. With more allocation to first timers, it offers an attractive option for buyers to secure their first home. It is next to Woodlands South MRT station on the Thomson East Coast line which will bring residents to town faster. For amenities, Causeway Point is a mere train station away. Most BTO projects in non-mature estates will offer 5-room flats. This is one of the rare BTO projects that do not have any 5-room flats for sale and that will disappoint buyers who desire more space. We estimate the application rate for Woodlands South Plains to be around 4 to 8.

In Nov, there could be another two to three PLH BTO projects in Kallang/Whampoa and Queenstown. The BTO in non-mature estates like Tengah and Yishun may be popular as they are adjacent to nature.