August 2023 HDB BTO assessment: Queenstown

The August 2023 Queenstown BTO is likely one of the two initiatives on this launch that may seemingly be PLH initiatives. An estimated 970 models within the property might be out there for balloting within the upcoming launch.

August 2023 Queenstown HDB BTO at a look

August 2023 Queenstown HDB BTO: Worth vary and estimated month-to-month instalments

HDB hasn’t launched the value vary but. For now, right here’s SRX’s estimations primarily based on close by resale transactions and launch costs from latest BTO launches.

*Supply: SRX. These estimations have been adjusted for variations in property age and placement. If a launch is nearer to an MRT or business improvement, it’s prone to be costlier.

Verify your affordability with 99.co’s affordability calculator!

Estimated downpayment, month-to-month instalments and earnings

Primarily based on these pricing forecasts, we are able to estimate the downpayment, month-to-month instalments and family earnings wanted to pay for the August 2023 Queenstown BTO flat. These estimates are primarily based on the next assumptions:

• An HDB mortgage is taken to maximise the 80% loan-to-value (LTV), given the newest modifications in LTV
• The mortgage tenure is 25 years, with the present rate of interest of two.6%
• A stress-test charge of three% is used to calculate the Mortgage Servicing Ratio (MSR), which stipulates that as much as 30% of your month-to-month family earnings can be utilized to pay the month-to-month instalments.
• There is no such thing as a different housing mortgage to service

For instance, we’ll use the median of the value vary and received’t be taking into consideration any CPF grants or financial savings for use.

Uncertain in case you ought to take an HDB mortgage or a financial institution mortgage? Discover out extra concerning the professionals and cons right here.

When you’re contemplating taking out a financial institution mortgage, contact 99.co’s mortgage dealer for the perfect charges!

August 2023 Queenstown HDB BTO: Location and close by facilities

^Disclaimer: Strolling, public transport experience and driving durations are primarily based on Google Maps estimates. Precise occasions might differ.

Accessibility

We like that this Queenstown BTO is a four-minute stroll to Commonwealth MRT on the East-West Line. It’s additionally one of many initiatives on this launch that’s closest to the MRT.

Plus, it’s only one cease to Buona Vista MRT, which provides you entry to the Circle Line.

In the meantime, the Ayer Rajah Expressway is a few streets away from the BTO, permitting drivers to get round different components of the town simply.

Meals and retail facilities

We additionally like that there’s a variety of meals and retail choices right here, from the extra inexpensive to the extra high-end choices.

For starters, the August 2023 Queenstown BTO is round 10 minutes away (by bus) from three hawker centres: Ghim Moh Market and Meals Centre, Holland Drive Market and Meals Centre, and Margaret Drive Hawker Centre. The primary two even have a moist market.

(Notice that the neighbourhood centre close to the BTO on the map is the place the well-known Tanglin Halt Market and Meals Centre was at. It’s since closed down resulting from SERS. On the similar time, it’s at present labelled for business and residential use on the URA grasp plan, so we are going to seemingly see some retail facilities right here in future.)

For the times once you really feel like going to a mall, there are a number of choices within the space. This contains The Star Vista, which is round a 10-minute bus experience (or an MRT cease) away from the BTO.

There’s additionally Holland Village within the north, which is anticipating a rejuvenation with the opening of the mixed-use improvement One Holland Village. It’s set to be accomplished in 2024.

In the meantime, Alexandra is positioned south of this Queenstown BTO. Right here’s the place you’ll find Anchorpoint, Queensway Purchasing Centre, Alexandra Central and everybody’s favorite meatball restaurant furnishings retailer: IKEA.

Colleges

When you handle to snag a flat on the August 2023 Queenstown BTO, you’ll even have a variety of colleges inside the neighborhood, from main faculties, worldwide faculties to enterprise faculties.

The slight drawback is that there are solely two main faculties inside a 1km radius of the BTO, that are:

• New City Main
• Fairfield Methodist Main (relying on the placement of the block)

In the meantime, Queenstown Main falls inside a 1km – 2km radius of the BTO.

There’s extra secondary and tertiary faculties close by, equivalent to:

• Anglo-Chinese language Faculty (Impartial)
• Fairfield Methodist Secondary
• Queensway Secondary
• Faculty of Science and Expertise
• Anglo-Chinese language JC
• Singapore Polytechnic
• NUS

On high of that, listed below are a number of worldwide faculties within the space:

• Anglo-Chinese language Faculty (Worldwide)
• Tanglin Belief Faculty
• Dover Courtroom Preparatory Faculty
• United World Faculty of South East Asia (Dover Campus)

And people seeking to pursue postgraduate research in enterprise can stay up for having two enterprise faculties close by, in addition to NUS:

• ESSEC Enterprise Faculty
• INSEAD

Healthcare amenities

The August 2023 Queenstown BTO can be very best for many who want extra frequent medical care.

As an illustration, Queenstown Polyclinic is round a 10-minute bus experience from the BTO.

On high of that, there are two hospitals inside a 10-minute drive of the BTO: Alexandra Hospital and NUH.

Sports activities amenities and greenery

We additionally discover that this Queenstown BTO is positioned alongside the Rail Hall, the place you possibly can stroll or cycle in direction of the north to Kranji or south to Tanjong Pagar.

(However, the Rail Hall is designed to “allow wildlife movement between green spaces”. Given its proximity to the BTO, does it imply there’s the next probability of encountering some wildlife right here? 🤔)

In the meantime, the closest sports activities amenities of the BTO are Queenstown Stadium and Swimming Complicated, at round 10 minutes away by bus.

August 2023 Queenstown HDB BTO: What’s the potential worth appreciation?

Queenstown is at present present process rejuvenation. The truth is, this August 2023 Queenstown BTO web site was beforehand occupied by Blk 74 to 80, which was introduced for SERS in August 2008.

Furthermore, close by blocks in Tanglin Halt have been chosen for SERS in 2014. As of Might final 12 months, many of the households have since collected keys to their new flats in Dawson.

New developments within the space, together with this BTO, will introduce new amenities to higher serve residents within the space. This must also assist prop up property costs.

The redevelopment comes after the rejuvenation of Dawson, which has seen new public housing developments and facilities accomplished in 2021. The world can be now residence to a number of million-dollar HDB flats. This contains the S$1.418 five-room resale flat, which was the costliest HDB resale flat for nearly a 12 months till it was dethroned just lately.

As probably the most in style HDB estates, the common costs of HDB resale flats in Queenstown have stayed above these in mature estates.

Surprisingly, three-room flats right here have solely seen a worth enhance of three.83% during the last decade. That is approach decrease than the value enhance of three-room flats throughout mature estates.

What caught our eye is that costs of three-room flats right here have really decreased this 12 months by 1.17%. This can be resulting from some worth resistance after the steep worth enhance from 2020 to 2022.

In the meantime, resulting from increased choice for greater area, four-room flats in Queenstown have seen a worth enhance of 20.26% during the last decade. That is on par with the value enhance for four-room flats in mature property.

Listed below are the common resale costs in Queenstown to date this 12 months, as of 5 July 2023:

There’s additionally some rental alternative at this Queenstown BTO, given the proximity to one-north. On the similar time, it’s extremely prone to be restricted to room leases since this Queenstown BTO is most probably a PLH challenge. One restriction of the PLH challenge is that you simply aren’t allowed to hire out the entire flat.

HDB flats on the market in Queenstown

August 2023 Queenstown HDB BTO: What are my probabilities of getting a queue quantity?

Within the final two years, we’ve seen six BTO initiatives being launched on the market.

Two of them, Ghim Moh Ascent and Ghim Moh Natura, are positioned the closest to this August 2023 BTO. Each are additionally PLH initiatives. So we’ll deal with the applying charges of those two initiatives to gauge the recognition of the August 2023 Queenstown BTO.

Right here’s the applying charge of Ghim Moh Ascent, which was launched within the Might 2022 BTO.

However, the applying charge of Ghim Moh Natura was mixed with that of Queensway Cover and Ulu Pandan Banks, which have been launched within the November 2022 BTO.

Primarily based on these utility charges, there’s a excessive probability that you simply’ll have the ability to get a queue quantity in case you’re a first-timer and making use of for a three-room flat.

Nonetheless, as we’ve really helpful in our BTO information on the right way to enhance your probability of getting a BTO queue quantity, it’s best to monitor the applying charges all through the week earlier than you submit your utility.

Good luck!

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When you discovered this text useful, take a look at 99.co’s overview of the August 2023 BTO initiatives and our in-depth opinions:

Keep tuned for our in-depth opinions for the opposite initiatives within the coming weeks!