Might 2023 HDB BTO assessment: Serangoon
The Might 2023 Serangoon BTO might be essentially the most anticipated challenge for this launch. As a result of the primary (and final time) HDB launched a BTO right here was 9 years in the past for short-lease studio residences.
Which means that beforehand, households may solely purchase a flat right here from the resale market (which instructions a premium). However that’s set to alter with the upcoming Might 2023 HDB BTO launch.
Might 2023 Serangoon HDB BTO at a look
| Classification | Mature property |
| Flat varieties and variety of items | 330
4-room 5-room |
| Estimated worth for a 4-room flat | S$350k – S$430k |
| Estimated ready time | TBC |
| Estimated completion date | TBC |
| Supply possession date | TBC |
| Nearest MRT | Serangoon North MRT |
| Notable facilities | Chomp Chomp, myVillage, Heartland Mall, Nex, Serangoon Stadium, Serangoon Swimming Advanced |
Might 2023 Serangoon HDB BTO: Worth vary and estimated month-to-month instalments
HDB hasn’t launched the worth vary but. For now, right here’s SRX’s estimations primarily based on close by resale transactions and launch costs from current BTO launches.
| Flat kind | Worth vary |
| 4-room | S$350,000 – S$430,000 |
| 5-room | S$470,000 – S$560,000 |
Supply: SRX. These estimations have been adjusted for variations in property age and placement. If a launch is nearer to an MRT or industrial growth, it’s prone to be costlier.
Estimated downpayment, month-to-month instalments and revenue
Primarily based on these pricing forecasts, we will estimate the downpayment, month-to-month instalments and family revenue wanted to pay for the Might 2023 Serangoon BTO flat. These estimates are primarily based on the next assumptions:
As an instance, we’ll use the median of the worth vary and received’t be taking into consideration any CPF grants or financial savings for use.
| Flat kind | Median worth | Mortgage quantity (80%) | Downpayment (20%) | Estimated month-to-month instalment (with 2.6% rate of interest) | Estimated month-to-month family revenue (with 3% stress-test) |
| 4-room | S$390,000 | S$312,000 | S$78,000 | S$1,415.45 | S$4,931.80 |
| 5-room | S$515,000 | S$412,000 | S$103,000 | S$1,869.12 | S$6,512.50 |
Seeking to take out a financial institution mortgage as an alternative? Contact 99.co’s mortgage dealer to get the very best charges.
Might 2023 Serangoon HDB BTO: Location and close by facilities
*Disclaimer: Strolling, public transport journey and driving durations are primarily based on Google Maps estimates. Precise occasions might differ.
Accessibility
Proper now, this Serangoon BTO doesn’t have an MRT inside strolling distance. However in 10 years time (or round 5 years after transferring in), you’ll have Serangoon North MRT on the brand new Cross Island Line (CRL) at round a 13-minute stroll away.
The MRT will likely be prepared along with the primary section of CRL in 2032. It can simply be one cease to the North-East Line and two stops to North-South Line.
However till then, the closest MRT stations are Kovan MRT and Serangoon MRT at round a 20-minute stroll away (which is unquestionably not walkable in scorching and humid Singapore). Or round a 10-minute bus journey away.
Meals and retail facilities
Most likely probably the greatest issues about this BTO is that it’s close to Serangoon Backyard. It’s a foodie’s haven with Chomp Chomp Meals Centre, Serangoon Backyard Market and Meals Centre, and varied cafes and dessert outlets.
And right here’s the place you will discover myVillage, a small boutique mall within the space.
Another choice is Heartland Mall at round a 10-minute bus journey.
However should you’re in search of selection, and don’t thoughts the group and the complicated structure, you’ll be able to all the time head to Nex. (Each time I am going to Nex, I all the time wrestle to seek out my method again to the MRT 😢)
Colleges
Extra importantly for fogeys who die die need to get their children into Rosyth Faculty, that is the BTO to poll as a result of it’s inside a 1km radius of the favored major faculty.
(Or for individuals who plan to promote their flat after the Minimal Occupation Interval (MOP), since it’ll garner some demand from such a consumers.)
The opposite major faculty inside 1km is Zhonghua Main. In the meantime, Xinmin Main and CHIJ Our Woman of Good Counsel fall underneath the 1km – 2km vary.
Different colleges close by embrace:
- Serangoon Backyard Secondary
- Peicai Secondary
- Bowen Secondary
- Xinmin Secondary
- Lycee Francais De Singapour
Sports activities services
We additionally like that there’s Serangoon Stadium and Swimming Advanced down the street at round a five-minute bus journey away.
Might 2023 Serangoon HDB BTO: What’s the potential worth appreciation?
A serious upcoming growth right here would be the opening of Serangoon North MRT on the brand new CRL, making the world extra handy for residents. With a brand new MRT opening within the space, flats right here ought to command increased demand (and better costs).
Trying on the worth development of HDB flats over the previous 10 years, the typical worth of 4-room flats in Serangoon has usually mirrored that of 4-room flats in mature estates. 4-room flats within the space have usually seen a worth appreciation of 21.53%, however that is primarily because of the steep improve in HDB resale costs during the last three years as a result of pandemic-related elements.
Then again, we observe that the typical worth is decrease than that of mature estates. That is probably as a result of lease decay, as all of the HDB resale flats in Serangoon are a minimum of 20 years previous. It’s not like different mature estates, which have seen newer flats resold within the secondary market.
Likewise, the decrease common worth is noticed for 5-room flats in Serangoon. However what’s stunning is that 5-room flats right here have seen a lower cost appreciation of 5.62% during the last decade. The value decline had been extra pronounced from 2013 onwards, earlier than rising in 2020 to 2022. Nevertheless, as of 30 Mar, costs of 5-room flats have began trending downwards.
Listed here are the typical resale costs in Serangoon up to now this yr, as of 30 Mar 2023:
| Flat kind | Common worth psf | Common worth |
| 4-room | S$577 | S$597,297 |
| 5-room | S$511 | S$671,828 |
HDB flats on the market in Serangoon
Might 2023 Serangoon HDB BTO: What are my possibilities of getting a queue quantity?
We don’t have related utility price knowledge to point out, because the earlier BTO launch right here was for short-lease studio residences for the aged. As compared, the Might 2023 BTO launch will supply 4-room and 5-room flats for households.
However we dare say that possibilities of getting a queue quantity are slim. It is because solely round 330 items are up for grabs, making it the smallest challenge on this launch. What’s extra, with 5-room flats out there right here, it’ll entice extra demand from consumers.
This may also be the primary time a BTO is launched right here for households. So brace your self for the stiff competitors, particularly since these BTO flats will likely be extra reasonably priced than the resale flats.
Learn how to extend your possibilities of securing a BTO flat.
Will you apply for the Might 2023 Serangoon HDB BTO? Tell us within the feedback part beneath.
For those who discovered this text useful, try our overview of the Might 2023 BTO tasks and preserve a lookout for the opposite critiques coming quickly!
