August 2022 HDB BTO in-depth review: Ang Mo Kio

If you’ve been looking for bigger space, but find that the ones on the resale market have been too expensive, look out for the Ang Mo Kio HDB BTO in the August 2022 launch. Not only is it offering 5-room units, but also 3Gen flats.

August 2022 Ang Mo Kio HDB BTO at a glance

August 2022 Ang Mo Kio HDB BTO indicative price range

HDB hasn’t released the price range yet. So for now, you can refer to SRX’s estimations based on nearby resale transactions and launch prices from recent BTO launches.

Flat type	Price range
4-room	$530,000 – $660,000
5-room	$680,000 – $830,000

Source: SRX. These estimations have been adjusted for differences in 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

Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the August 2022 Ang Mo Kio BTO flat. These estimates are based on the following assumptions:

• An HDB loan is taken, maximising the 85per cent loan-to-value (LTV)
• The loan tenure is 25 years, with the current interest rate of 2.6 per cent
• There is no other housing loan to service

To illustrate, we’ll use the median of the price range and won’t be taking into account any CPF grants or savings to be used. We’ll also be using a mortgage calculator to do the math.

Another thing is that for public housing, you can only use up to 30 per cent of your monthly household income to service the home loan. This is called the Mortgage Servicing Ratio (MSR), which you can calculate using our MSR calculator. By taking this into account, we can then find the estimated household monthly income needed for the flat.

Flat type	Median price	Loan amount (85 per cent)	Min. downpayment (15 per cent)	Estimated monthly instalment	Estimated monthly household income
4-room	$595,000	$505,750	$89,250	$2,294.43	$7,648.10
5-room	$755,000	$641,750	$113,250	$2,911.42	$9,704.73

What we noticed about the August 2022 Ang Mo Kio HDB BTO

The first thing that caught our eye is that the August 2022 Ang Mo Kio BTO offers 5-room and 3Gen flats. Over the past few years, we usually only see these bigger flats being launched in the suburbs.

(Ang Mo Kio may not be in the Central region, but we still consider it central-ish given its close proximity to the border.)

The last time we’ve seen 5-room flats in a central location was in Bidadari for ParkEdge@Bidadari  and Alkaff Breeze, which were launched in February 2021 BTO.

As for 3Gen flats, the last time we saw them being launched in a BTO exercise was in February 2020 at Canberra Vista. We also notice that in the past five years, 3Gen BTO flats have mainly been launched in the suburbs, apart from Woodleigh Hillside back in May 2017.

So it’s good to see five-room and 3Gen flats being offered in this project. This gives bigger families more options besides older resale flats.

As mentioned in our August 2022 BTO overview, the good thing about 3Gen flats is that they come with four bedrooms. Out of these bedrooms, two of them come with an en-suite bathroom – unlike a typical BTO that comes with only one bedroom with an attached bathroom.

But take note of the eligibility criteria. To qualify for a 3Gen flat, you’ll have to apply with at least a parent. (So forget about that plan to rent out the extra master bedroom for rental income.)

Another thing is that with 890 units, this Ang Mo Kio BTO is the second biggest project in this August 2022 launch after the Choa Chu Kang BTO.

August 2022 Ang Mo Kio BTO: The pros

Accessibility

This Ang Mo Kio BTO is located in the middle of two MRT stations: Ang Mo Kio MRT and Yio Chu Kang MRT. It takes around a 13-minute walk to both MRT.

With both MRT on the North-South Line, getting to town will be a breeze. Plus, the CBD is just 10 stops away.

Another option is the Circle Line, which is just one stop away via Bishan MRT.

Alternatively, there’s Thomson-East Coast Line nearby, with Mayflower MRT around 20 minutes away by bus.

You can also expect better connectivity in a couple of years after the BTO is completed, with the opening of the Cross Island Line from 2030 onwards. With an interchange opening at Ang Mo Kio MRT, switching to other MRT lines such as the North-East Line and East-West Line will be easier.

For drivers, the Central Expressway (CTE) is just a couple of streets away, taking you to the CBD in around 25 minutes.

Food and retail amenities

The biggest mall in the area is AMK Hub which is around a 13-minute walk from the Ang Mo Kio BTO. And here’s where you can find an NTUC Fairprice Xtra. As if that’s not enough, there are two supermarkets within a 10-minute walk from the BTO: NTUC Fairprice at Ang Mo Kio Avenue 6 and Sheng Shiong at Ang Mo Kio Avenue 3.

Closer to home (around a five-minute walk), you can also find Courts and Harvey Norman, and smaller malls such as Broadway Plaza and Jubilee Square. The Ang Mo Kio Central Market and Food Centre is also within walking distance for your daily necessities.

And we’d like to point out that there’s a McDonald’s just across Ang Mo Kio Avenue 6.

Childcare centres

With the number of childcare centres nearby, we feel that this Ang Mo Kio BTO is ideal for those with small kids or planning to have kids.

As of writing, we’ve found a few childcare centres within a 10-minute walking distance. These include Learning Kidz at Jubilee Square, PCF Sparkletots at Blk 502 Ang Mo Kio Avenue 5 and YWCA Preschool at Blk 513 Ang Mo Kio Avenue 8.

Schools

On top of that, there are a number of schools of all levels in the area, from primary to post-secondary level.

Primary schools within a 1km radius include Mayflower Primary (a nine-minute walk), Jing Shan Primary (a 10-minute walk) and Ang Mo Kio Primary (a 13-minute bus ride)

There’s also CHIJ St Nicholas Girls’ (Primary and Secondary) nearby, although it falls outside the 1km radius.

Other secondary schools nearby include Yio Chu Kang Secondary, Presbyterian High, Anderson Secondary, Deyi Secondary and Ang Mo Kio Secondary.

Tertiary institutions in the area are Nanyang Polytechnic, Anderson Serangoon JC and ITE College Central.

Recreational facilities

We also like that there’s a good range of recreational facilities near the August 2022 Ang Mo Kio BTO. For book lovers, there’s Ang Mo Kio Public Library right in front of the BTO.

On top of that, the nearest park, Ang Mo Kio Town Garden West, is just across the main road (Ang Mo Kio Avenue 6). At the other end of the park is Kebun Baru Birdsinging Club, where you can find hundreds of bird cages being hoisted up on the poles.

And for pawrents, there’s Bishan-Ang Mo Kio Park around a 20-minute walk away, where you can bring your dog there for walks.

Sports facilities are easily accessible as well, with Yio Chu Kang Sports Hall, Stadium, Swimming Complex, and Squash and Tennis Centre around a 15-minute bus ride away.

Healthcare facilities

We also want to point out that this BTO is suitable for the elderly looking for a newer home, with Ang Mo Kio Polyclinic just across the street.

First relocated to the current site at Ang Mo Kio Central 2 in 2018, this polyclinic is equipped with more accessible facilities such as lifts and handrails. It’s also the first polyclinic to have a senior care centre.

Additionally, the nearest hospital is Mount Alvernia Hospital at around an 11-minute drive.

August 2022 Ang Mo Kio BTO: The cons

Oversubscription

One downside of this Ang Mo Kio BTO is that it will be one of the most popular projects in the upcoming August 2022 sales exercise. Given the increasing demand for bigger space, we expect people to be very keen to apply for the 5-room and 3Gen flats here.

Alternatively, you can consider applying for the Choa Chu Kang BTO or Tampines BTO if you’re looking for a 5-room flat.

August 2022 Ang Mo Kio BTO: Where are the best stacks with the best views?

HDB hasn’t released the site plans yet. So for now, we’re just looking based on the surrounding areas of the projects.

For now, we’d say that the best stacks with the best views would be the west-facing stacks, which people would avoid because of the afternoon sun.

But here’s where you’re most likely to get unblocked views. For starters, there’s Ang Mo Kio Town Garden West just across the street. Further west, you can also find a few landed property estates. And if you can get a unit high enough, you might just be able to get a view of the Lower Peirce Reservoir.

The next best alternatives are the north-facing stacks. If your unit is high enough, you might be able to get a view of the Lower Seletar Reservoir.

On the other hand, there’s the Grandeur 8 condo (18 storeys tall) across Ang Mo Kio Central 3 that might be blocking your view. And beside the condo is a residential plot with the same gross plot ratio as this BTO plot. This means that a residential development could be built as tall as this BTO, thus blocking the view.

August 2022 Ang Mo Kio BTO: What’s the potential price appreciation?

Generally for the past 10 years, the average price psf of four-room and five-room flats in Ang Mo Kio has increased by 16.40 per cent. In particular, we notice there’s a sharp increase in the price psf in the last one year by 15.09 per cent.

For BTO flats in Ang Mo Kio, the ones that have entered the resale market so far are those from Cheng San Court, Kebun Baru Court and Teck Ghee Parkview.

Interestingly, for the past five years, the price psf of four-room flats at Cheng San Court (it doesn’t offer five-room flats) has only seen a price increase of 3.45 per cent, which is way lower than the average price psf increase of 14.4 per cent for four-room and five-room resale flats in the estate.

Meanwhile, resale flats in Teck Ghee Parkview and Kebun Baru Court have seen higher price psf of around $840 this year. This could be due to the longer lease these flats have. Both projects have recently finished their MOP, with Kebun Baru Court entering the resale market last December and Teck Ghee Parkview entering the resale market in March this year.

Given the lack of new BTOs in Ang Mo Kio, we can expect a healthy price appreciation for the August 2022 Ang Mo Kio BTO when the flats finish MOP. We also expect the price increase to be supported by the addition of the Cross Island Line running through Ang Mo Kio MRT.

August 2022 Ang Mo Kio BTO: Should you apply?

Yes, especially if you’re looking for bigger space in a central-ish location. The last time HDB offered five-room flats Ang Mo Kio was at Kebun Baru Edge two years ago, which also happens to be the last BTO launch in the mature estate.

This launch also marks the first time in six years that HDB launches 3Gen flats in Ang Mo Kio, with the last launch being the Ang Mo Kio Court project in the May 2016 BTO exercise.

So if you’re looking for bigger space and find that the other two launches offering five-room flats (Choa Chu Kang BTO and Tampines BTO) are just too far, here’s where you can try your luck.

But given the amenities around the area and the BTO’s proximity to the city centre, we expect this BTO to be one of the most popular projects in this August 2022 launch.

So we recommend checking the application rate first before applying for it to gauge your chances of securing a flat number.

This article was first published in 99.co.