February 2022 HDB BTO in-depth review: Geylang

Out of the 3,930 units to be launched in the February 2022 BTO launch, 440 units will be located in Geylang.

Here's everything you need to know about the Geylang BTO.

February 2022 Geylang BTO at a glance

February 2022 Geylang BTO indicative price range

We'll only know the starting prices after the February 2022 BTO launch announcement.

In the meantime, SRX has come up with these estimations based on nearby resale transactions and launch prices from recent BTO launches.

Source: SRX 

These estimations take into account property age and location. If a launch is nearer to an MRT or commercial development, it's likely to be more expensive.

Estimated downpayment, monthly instalment and income

With the pricing forecast, we can estimate the downpayment, monthly instalments and income needed to pay for the February 2022 Geylang BTO.

These estimates are based on the following assumptions:

• An HDB loan is taken, maximising the 90 per cent loan-to-value (LTV)
• The loan tenure is the maximum 25 years, with the current interest rate of 2.6 per cent
• There is no other housing loan to service

For illustrative purposes, we'll use the median of the price range and a mortgage calculator to calculate the estimates.

For simplicity, we're not taking into account any CPF OA savings or grants to be used.

When it comes to public housing, you'll need to ensure that your monthly instalments don't exceed the 30 per cent Mortgage Servicing Ratio (MSR), which restricts the property loan you can take for an HDB flat or a new EC.

By working backwards, we can then find the estimated monthly income needed.

What we noticed about the February 2022 Geylang BTO

As mentioned in our overview, the February 2022 Geylang BTO plot is part of the Dakota Crescent estate that's undergoing redevelopment.

The area is known for being one of the oldest residential estates in Singapore, built in 1958 by HDB's predecessor, Singapore Improvement Trust (SIT).

It was announced in 2017 that the iconic dove playground and blocks 10, 12, 14, 16, 18 and 20 would be retained and repurposed for community use. So this Geylang BTO makes for an ideal home for those who love a bit of nostalgia.

Another thing is that this BTO is within walking distance to the Old Airport Road Food Centre - something that foodies will be pleased with. Plus, it's one of the two BTOs in this Feb 2022 launch that's located along the river.

February 2022 Geylang BTO: The pros

Accessibility

Among the February 2022 BTO projects, we think this project has one of the best access to the MRT.

It's located right smack in between Dakota MRT and Mountbatten MRT on the Circle Line. Plus, both are only around four minutes away on foot.

From Dakota MRT, you're just one stop away to the East West Line via Paya Lebar MRT. The CBD (Downtown MRT) is also five stops away from Mountbatten MRT.

For drivers, Kallang-Paya Lebar Expressway (KPE) and the East Coast Parkway (ECP) are a few streets down the road.

Food and retail amenities

In terms of the availability of affordable food amenities, we feel like this is one of the better BTO locations we've seen so far.

The plot is located right across the street from two hawker centres, with one being Old Airport Food Centre that's known for local delights like char siew, rojak and lor mee.

And for the times when this hawker centre gets too crowded, you can always go to the nearby Kallang Estate Market and Food Centre.

There's also NTUC that's just around three minutes walking distance from the BTO site.

For even more options, you can always walk to the eateries along Geylang Road or take a 20-minute bus ride to Katong.

Alternatively, you can take around a 15- to 20-minute bus ride to the nearest malls. These include Kallang Wave Mall, Leisure Park Kallang, PLQ, SingPost Centre and KINEX.

Childcare centres

We think that this Geylang BTO is pretty family-friendly because there's a number of childcare centres in the area.

This includes PCF Sparkletots at Old Airport Road, Sunflower Preschool at Jalan Tiga and My First Skool at Cassia Crescent. All are within six minutes walking distance.

Schools

Another highlight of this February 2022 Geylang BTO is that it's within 1km of Kong Hwa School, which is one of the popular primary schools these days. Plus, it's just 10 minutes away on foot.

Other primary schools nearby include Geylang Methodist (Primary), Haig Girls' School and Tanjong Katong Primary, although they're within the 1km to 2km radius.

There are several secondary schools nearby, such as Broadrick Secondary, Chung Cheng High School (Main), Dunman High School, Tanjong Katong Girls' and Tanjong Katong Secondary.

In fact, Broadrick Secondary is just around next to the BTO site, at around two minutes away on foot.

Recreational facilities

Given that Sports Hub is just around a twenty-minute walk away, this BTO is also ideal for fitness enthusiasts.

Here's not just where the National Stadium and Indoor Stadium are at. You can also find other sports facilities such as volleyball courts, skate park and water sport rentals.

There's also the Decathlon Singapore Lab just nine minutes walk away, where you can also try out the various equipment before buying them.

Price appreciation

Expect a healthy price appreciation if you manage to snag a flat here. In general, two-room, three-room and four-room flats in Geylang have seen price increases of 9.39 per cent over the past five years.

We've observed an even higher price appreciation of 19.17 per cent for flats in Sri Geylang Serai - the first BTO project in the area.

February 2022 Geylang BTO: The cons

Healthcare facilities

One gripe we have about the February 2022 Geylang BTO is that it's quite far from hospitals and polyclinics.

The nearest hospital, Parkway East Hospital in Joo Chiat, takes around a 10-minute drive to reach. Likewise, it takes around a 20-minute bus ride to get to Geylang Polyclinic.

Oversubscription

Given the convenient location, it's pretty much guaranteed that these February 2022 Geylang BTO flats will be oversubscribed.

For instance, during the last launch in Geylang for Macpherson Weave in the May 2021 BTO, four-room flats had an overall application rate of 5.5. Competition was even more intense among second-timers, with an application rate of 31.3!

So we expect similar numbers this time round. And if you're a second timer, you may not want to ballot here.

February 2022 Geylang BTO: Where are the best stacks?

HDB hasn't released the full site plan of the project yet. But looking at the map and URA master plan, it looks like the best stacks are the south stacks facing Geylang River.

That's where you can get unblocked views, since it's also facing the landed housing estate across the river in Marine Parade. Plus, you won't get the afternoon sun.

The next best option for unblocked views and avoiding the afternoon sun is the east stacks facing Broadrick Secondary School.

February 2022 Geylang BTO: Should you apply?

Yes, especially if you're planning to have a small family. Despite the project being under the HDB estate of Geylang, we think the February 2022 BTO has a pretty good location for small families.

The area is pretty family-friendly, given the number of childcare centres and schools around. It's near Sports Hub as well. And of course, it's located away from the main Geylang area.

But if you really want to secure a unit this time round, here's not where you should apply given how it will be one of the most popular ones (besides the Kallang/Whampoa BTO).

So if you want to increase your chance of securing a BTO flat , go for the Yishun BTO or Tengah BTO instead.

Properties for sale in Geylang

See all the listings here. 

This article was first published in 99.co.