The first HDB BTO launch of the year is one that is eagerly anticipated. If you missed out on the 2022 B

If you need help making a choice, here’s our take on the five BTO projects that have been released in the February 2023 launch.

Ranking the Feb 5, 2023 HDB BTO launches (lowest to highest)

5. Jurong West Crystal (Jurong West BTO)

What we love about this BTO

The relative proximity to Pioneer MRT station is definitely a selling point for this BTO. Having access to an MRT on the East-West Line (EWL) is a plus point for homebuyers, even though Pioneer MRT is on the far end of the “green” line (i.e. further West than Jurong East station!).

Besides having an MRT station just two streets away, there are also various amenities that are available around Jurong West Crystal. Jurong West Sports Centre, Jurong West Hawker Centre, and Jurong Point are all located within a 1km radius, along with various parks including Yunnan Park. There are also a list of primary and secondary schools located within the same 1km radius, making it very convenient for families.

What you might not like about this BTO

The BTO is just one street across the industrial area in Pioneer. The concern of noise and heavy vehicles roaming along the roads might be at the back of homebuyers’ minds.

For those working in the Central Business District (CBD), Pioneer MRT is 14 MRT stops from Raffles Place MRT. Our consolation is that, despite the distance, you won’t have to vie for seats in the morning — especially since Pioneer is amongst the first few stops on the East-bound trains.

Project details

• Types of units available: 271 3-room and 4-room units
• Price range (excluding grants): $187,000 - $372,000
• Expected completion date: 3rd Quarter 2027

Mortgage Master rating

• Own Stay Potential: 6/10
• Resale Potential: 3/10
• Rental Potential: 5/10
• Total score: 14/30

4. Brickland Weave (Tengah BTO)

What we love about this BTO

Tengah BTOs are now becoming a mainstay in BTOs with at least one Tengah project every launch. The latest is Brickland Weave and it is located at the fringe of Bukit Batok and Choa Chu Kang, which means that residents get access to the new amenities in the area while still enjoying the mature amenities in Bukit Batok and Choa Chu Kang.

With 1,640 units up for grabs, this BTO is going to be the biggest project in the February 2023 launch which means that you might have a higher chance of getting a ballot number if you want to stay in the West.

What you might not like about this BTO

Like every new estate, Tengah will take a while to fully develop in terms of transport network and living amenities. It will not be completely transformed overnight. You’ll have to be patient and wait a couple of years before the MRT and bus network are fully established.

While the distance to the MRT isn’t too far, you will still have to allocate some waiting time for the bus if you aren’t keen on sweating it out in the humid weather.

Project details

• Types of units available: 1,641 2-room, 3-room, 4-room and 5-room units
• Price range (excluding grants): $97,000 - $503,000
• Expected completion date: 4th Quarter 2027

Mortgage Master rating

• Own Stay Potential: 6/10
• Resale Potential: 6/10
• Rental Potential: 3/10
• Total score: 15/30

3. Ulu Pandan Glades (Queenstown BTO)

What we love about this BTO

As part of the plans announced late 2021, Dover Forest will be making way to accommodate future housing projects. This BTO project is the second project to be launched following the announcement of Ulu Pandan Banks in November 2022.

The design concept for this BTO will be similar to landmark HDB developments like Pinnacle@Duxton and SkyTerrace@Dawson. Ulu Pandan Glades has two blocks, with some stacks peaking at 34 storeys and others at 43 storeys in height. The blocks will also come with sky terraces and a jogging track connecting the blocks on their respective 34th storey.

With such a design, the lottery effect for this BTO is going to be a very strong choice for those who are lucky enough to get a (good) ballot number.

What you might not like about this BTO

With the strong lottery effect, there is no surprise that this BTO will fall under the new Prime Location Housing (PLH) model. The 10-year Minimum Occupation Period (MOP) will be a point of consideration, especially for those who want to sell it and upgrade to a condo.

While there are some amenities at Ghim Moh and Ulu Pandan, it still takes a fair bit of walking. But this should be mitigated by the green corridor that will be established along the Ulu Pandan Park Connector.

Do take note of the very late expected completion date of mid-2029, presumably because the eastern half of Dover Forest is still fenced up and will be cleared according to HDB's Construction Environmental Management and Monitoring Plan.

In the meantime, enjoy this image of Snowy, the last eaglet of Dover Forest East.

Project details

• Types of units available: 732 3-room and 4-room units
• Price range (excluding grants): $372,000 - $711,000
• Expected completion date: 2nd Quarter 2029

Mortgage Master rating

• Own Stay Potential: 7/10
• Resale Potential: 8/10
• Rental Potential: 6/10
• Total score: 21/30

2. Rajah Summit (Kallang/Whampoa BTO)

What we love about this BTO

That name. Seriously, what's not to love about an estate called Rajah Summit? With two blocks of flats soaring up to 40 storeys high, it'll be the tallest point in the area for years to come.

From the sports hall to the parks to the transport hub, there are no lack of amenities missing when you take a stroll across Pan Island Expressway (PIE). On top of that, you also get to enjoy some form of waterfront living with the Kallang River being next to the development.

BTO projects are applied based on estate and the flat type. This means that if you apply for a 4-room flat in Kallang/Whampoa and are successful, you get a chance to choose from either the 417 4-room units in Rajah Summit or the 1,005 4-room units Farrer Park Fields (see below). With more units available, this gives you a higher chance to successfully ballot for a unit, so check out our review of Farrer Park Fields just in case.

Interestingly, Rajah Summit will not fall under the PLH model, unlike Farrer Park Fields, which may make it the more appealing of the two projects.

What you might not like about this BTO

As a city fringe estate, housing prices in Kallang can get pricey. This BTO is tagged under Kallang/Whampoa estate, which means that the prices are determined by market price of HDB resale units in that town. However, Rajah Summit is actually closer to Toa Payoh than central Kallang so you may feel the premium you're paying is unfair.

Another concern is how near the estate is to the Pan Island Expressway. As the PIE is the major transport network in Singapore, one can expect the PIE to be busy throughout the day. Because of that, noise can be a real problem when you are living right next to it.

Project details

• Types of units available: 510 3-room and 4-room units
• Price range (excluding grants): $326,000 - $631,000
• Expected completion date: 2nd Quarter 2028

Mortgage Master rating

• Own Stay Potential: 7/10
• Resale Potential: 7/10
• Rental Potential: 8/10
• Total score: 22/30

1. Farrer Park Fields (Kallong/Whampoa BTO)

What we love about this BTO

Little India is a great place to stay with lots of various cuisines at your fingertips, especially delicious Indian cuisine that’s available within walking distance. Residents of Farrer Park Fields will be living right across some of the most iconic names in Singapore's rich culinary legacy, including The Banana Leaf Apolo and Muthu's Curry.

Tekka Centre, Berseh Food Centre, Mustafa Centre and City Square Mall are all also within a 1km radius from this BTO, providing residents with lots of daily living convenience.

With two MRT lines at Little India MRT interchange, residents of Farrer Park Fields will enjoy a lot of travelling convenience too. This is especially true because on the Downtown Line (DTL), you are merely two very short MRT stops away from Bugis MRT interchange, connecting you to the East West Line.

What you might not like about this BTO

One thing that you will have to grapple with is the crowd. Little India is a bustling area with lots of people, be it on weekdays or weekends. If you don’t enjoy living in a crowded areas, then this BTO might push you to your limit.

This BTO also falls within the scope of the PLH model. While that means you get a significant discount on the price relative to its location, you will need to stay at least 10 years before you can even think of selling it, along with all the other limitations of the PLH.

Project details

• Types of units available: 1,274 2-room, 3-room and 4-room units
• Price range (excluding grants): $185,000 - $631,000
• Expected completion date: 2nd Quarter 2028

Mortgage Master rating

• Own Stay Potential: 9/10
• Resale Potential: 8/10
• Rental Potential: 8/10
• Total score: 25/30

ALSO READ: A review of February 2023 Tengah HDB BTO

Planning the finances for your first home

Choosing which BTO to apply for is just the first step on your home ownership journey. The next step is to plan your finances to ensure that when the time comes, you’ll be able to afford your dream home.

Engaging a mortgage broker can help you determine what’s affordable to avoid overleveraging on your future income. At the same time, a mortgage broker can help you to source for the best deal in the market to keep the cost of home ownership as low as possible.

At Mortgage Master, we know the latest home loan packages in the market and sometimes can even offer exclusive interest rate packages that you cannot get directly from the bank. Fill up our enquiry form and our mortgage consultants will follow up with a call.

This article was first published in Mortgage Master.