Huttons’ comments on HDB Feb 2024 BTO exercise

22 February 2024

Among the 7 BTO launches in Feb 2024, only the Queenstown BTO and Bedok Reservoir BTO are within walking distance to a mrt station.

The Bedok, Hougang, Punggol and Woodlands BTO are likely to be popular among applicants.

The two Bedok BTOs, Bedok North Springs and Bedok South Bloom should see good interest. The last launch in the Bedok North area was Bedok North Vale in 2016. However, Bedok North Vale had only 2-room flexi and 3-room flats. Hence the larger room types like 4- and 5-room flats in Bedok North Springs should see good application rates. Bedok South Bloom is a short bus ride from Bedok integrated transport hub and Bedok town centre. Couples planning to have children will find that Bedok Green Primary School is just downstairs. The application rate for first timers for 4-room flats should be between 1 and 3.

Tanjong Tree Residences @ Hougang may see good interest from applicants despite its distance from a mrt station. The last BTO, Tanjong Tree Residences @ Hougang in Nov 2021 saw an overall application rate as high as 4.3 for its 4-room flats. The application rate for first timers for 4-room flats may be as high as 4.

There may be potential pentup demand for Matilda Riverside as the last launch was more than 4 years ago in Sep 2019. With waterfront views, direct access to Punggol Park connector, it should see good interest. Furthermore it has the shortest completion time of 3 years and 1 month in this BTO exercise. It is also one of the 3 BTO projects to have 5-room units which are in high demand after the pandemic. The downside for Matilda Riverside is the distance from the LRT or MRT stations. Past BTO launches in Punggol are well-received and this BTO may see an application rate for 4-room flats from first timers between 1 and 3.

BTOs in Woodlands tend to see a good number of applicants for each launch. There are a few primary schools within 1 km of Woodgrove Edge and the Singapore Sports School and Yishun Innova JC are nearby. The 5-room flats should be popular. It may see an application rate for 4-room flats from first timers between 2 and 4.

Although Tanglin Halt Courtyard is part of the Tanglin Halt integrated development, it may not attract many applicants. The last PLH project, Tanglin Halt Cascadia had seen application rates of less than 1.0 probably due to the high price, restrictions on resale and distance from the city centre. Nevertheless there will be amenities such as a hawker centre, market, polyclinic and shops to serve the residents. The PLH project is very near to Commonwealth MRT station and a short walk to the rail corridor and one-north business park. The application rate for first timers for 4-room flats should be between 1 and 2.

The Choa Chu Kang BTO, Rail Garden @ CCK is next to the rail corridor. However there are no 5-room flats unlike the earlier BTO in Oct 2023. That may reduce the attractiveness and the application rate may be around 1.