May HDB BTO Bedok review

Another highly anticipated project in the May 2023 HDB BTO launch is the Bedok BTO, as it's been almost seven years since the last launch in the estate. In November 2016, HDB launched three projects here: Bedok Beacon, Bedok North Vale and Bedok South Horizon.

What's more, this May 2023 Bedok BTO will offer 3Gen flats, which feature an additional master bedroom with an ensuite bathroom. These are unlike typical BTO flats. But the caveat is that you'll need to apply with your parents to qualify for one.

May 2023 Bedok HDB BTO at a glance

Classification	Mature estate
Flat types and number of units	1,630  2-room Flexi  3-room 4-room 5-room 3Gen
Estimated price for a 4-room flat	S$450k – S$550k
Estimated waiting time	TBC
Estimated completion date	TBC
Delivery possession date	TBC
Nearest MRT	Tanah Merah MRT
Notable amenities	Bedok Mall, Djitsun Mall Bedok, Bedok Interchange Hawker Centre, Blk 85 Fengshan Food Centre, Simpang Bedok, Bedok Stadium, Bedok Sports Hall, Heartbeat@Bedok

May 2023 Bedok HDB BTO: Price range and estimated monthly instalments

HDB hasn't released the price range yet. For now, here's SRX's estimations based on nearby resale transactions and launch prices from recent BTO launches.

Flat type	Price range
3-room	S$330,000 – S$400,000
4-room	S$450,000 – S$550,000
5-room	S$590,000 – S$680,000

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 instalments and income

Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2023 Bedok BTO flat. These estimates are based on the following assumptions:

• An HDB loan is taken to maximise the 80 per cent loan-to-value (LTV), given the latest cooling measures
• The loan tenure is 25 years, with the current interest rate of 2.6 per cent
• A stress-test rate of three per cent is used to calculate the Mortgage Servicing Ratio (MSR), which stipulates that up to 30 per cent of your monthly household income can be used to pay the monthly instalments.
• 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.

Flat type	Median price	Loan amount (80 per cent)	Downpayment (20 per cent)	Estimated monthly instalment (with 2.6per cent interest rate)	Estimated monthly household income (with three per cent stress-test)
3-room	S$365,000	S$292,000	S$73,000	S$1,324.71	S$4,615.67
4-room	S$500,000	S$400,000	S$100,000	S$1,814.68	S$6,322.83
5-room	S$635,000	S$508,000	S$127,000	S$2,304.64	S$8,029.97

Unsure if you should take an HDB loan or a bank loan? Contact 99.co’s mortgage broker to understand which one is best for you.

May 2023 Bedok HDB BTO: Location and nearby amenities

*Disclaimer: Walking, public transport ride and driving durations are based on Google Maps estimates. Actual times may vary.

Accessibility

This May 2023 Bedok BTO is around a 12-minute walk to Tanah Merah MRT. Or five minutes if you're taking the bus.

The good news is that as a resident here, you don't have to rely only on the East-West Line. If you head south, there's Bedok South MRT on the Thomson-East Coast Line at around a 12-minute walk. With the station ready in 2025, it's already operational by the time you move into this BTO.

If you head north, there's also Bedok Reservoir MRT on the Downtown Line, which is further away at around a 10-minute bus ride.

Meanwhile, drivers will appreciate that the Pan-Island Expressway (PIE) is just a couple of streets away from the BTO.

Food and retail amenities

We like that it's conveniently located around a seven-minute walk from the neighbourhood centre at New Upper Changi Road, which has a few coffee shops and a 24-hour NTUC Fairprice supermarket.

It's also one stop to Bedok MRT, where there's Bedok Mall, Djitsun Mall Bedok and Bedok Interchange Hawker Centre.

And foodies, this is another BTO to look out for, as it's around a six-minute bus ride to the famous Blk 85 Fengshan Food Centre and Simpang Bedok.

On top of that, you can look forward to new retail developments nearby, which should be ready by the time you move into your new flat.

This includes a mall on the first floor of Sceneca Residence (ready in 2026), which has a direct link to Tanah Merah MRT. Another upcoming retail development is at Sky Eden@Bedok located at the former Bedok Point, which will be ready in 2027.

Schools

We notice that the BTO site is next to Bedok View Secondary and Katong School (Special Education).

More importantly for parents, it's close to two popular primary schools. Specifically, it's within 1km of Temasek Primary and one to two kilometres range of Red Swastika School.

Other primary schools in the area include:

• Bedok Green Primary (within one kilometre)
• Fengshan Primary (within one to two kilometres)
• St Anthony's Canossian Primary (within one to two kilometres)
• Yu Neng Primary (within one to two kilometres)

Several secondary and post-secondary schools are located in the area as well, such as:

• Anglican High
• Bedok Green Secondary
• Damai Secondary
• St Anthony's Canossian Secondary
• Temasek Secondary
• Temasek JC

Sports facilities

Like the Serangoon BTO and Kallang/ Whampoa BTO in this May 2023 BTO launch, this Bedok BTO is located near sports facilities.

For instance, the Bedok Stadium and Bedok Sports Hall are around a five-minute bus ride from the BTO. And according to the BTO map, there are plans to have another sports facility next to these.

What's more, just around a 10-minute walk from the stadium is Heartbeat@Bedok, where you can find a swimming complex and sports centre. These facilities are located together with other community facilities as well, such as Kampong Chai Chee Community Centre, a polyclinic and a library.

May 2023 Bedok HDB BTO: What’s the potential price appreciation?

A major development in the area will be the opening of Bedok South MRT on the Thomson-East Coast Line (TEL). Although this MRT station is not the nearest MRT for this BTO, residents here will still benefit from having another MRT line available in the area.

For instance, should the East-West Line break down (choy! touch wood!), you can take the Thomson-East Coast Line instead via Bedok South MRT. (It's nearer from the BTO than the Downtown Line via Bedok Reservoir MRT.)

As with any MRT opening, properties nearby will see a price increase. And we expect this BTO to command a high price after the Minimum Occupation Period (MOP), supported by the opening of the new MRT station.

The area should also benefit from the expansion of Changi Airport with the new Terminal 5, along with Changi East Urban District and Changi East Industrial Zone. Terminal 5 is expected to be completed in the mid-2030s. With more jobs created, it should also bring in some rental demand in Tanah Merah, given that it is just two stops away from Changi Airport MRT and six stops away from the upcoming Aviation Park MRT on the new Cross Island Line.

Over the past 10 years, the average price of three-room HDB resale flats in Bedok has increased by 7.49 per cent, marginally lower than the price increase for the same flat type in mature estates. The average price in Bedok has also remained lower than that in mature estates. But this could also be due to its location in the Outside Central Region (OCR).

A similar trend is observed when we compare the average price of four-room HDB resale flats in Bedok and in mature estates, with the average price in Bedok being lower. Nevertheless, the price appreciation over the past decade has been more encouraging, reaching 14.45 per cent during this period. The flat type also has the highest price increase compared to three-room and five-room flats in Bedok.

Meanwhile, the average price of five-room HDB resale flats in Bedok has increased by 8.27 per cent, with the sharpest increase seen in 2020 to 2022 during the Covid period at 14.15 per cent.

Here are the average resale prices in Bedok so far this year, as of April 9, 2023:

Flat type	Average price psf	Average price
3-room	S$517	S$380,215
4-room	S$547	S$542,120
5-room	S$513	S$676,358

(If you’re thinking of getting a new-ish flat, consider Fengshan Greenville, which will MOP this year!)

May 2023 Bedok HDB BTO: What are my chances of getting a queue number?

The short answer: not that high.

With around 1,630 units up for grabs, this May 2023 Bedok BTO is the second biggest project in this launch. But given that it’s been almost seven years since the last launch in the estate, we expect high demand for the units here.

During the last launch in Bedok in November 2016, the projects were oversubscribed shortly after the launch. Within a day, there were already more applications for 4-room and 5-room flats than the number of available units!

So if you plan to ballot for a BTO here, be prepared for the competition.

ALSO READ: May HDB BTO Serangoon review

This article was first published in 99.co.