Did you know Toa Payoh literally means “Big Swamp” in Hokkien, with “Toa” meaning big, and “Payoh” meaning swamp. After extensive redevelopment through the decades, it has become a bustling mature estate that many clamour to live in. If you didn’t manage to snag a flat in last February’s Toa Payoh (Bidadari) BTO, you might want to consider balloting for this year’s May 2022 Toa Payoh HDB BTO.
Out of the total of 5,330 BTO units launched across the projects in May, there are only 380 units up for grabs in the Toa Payoh HDB BTO launch. That’s around 7.13% of units located Toa Payoh, making it the smallest out of the six projects, so be prepared for some fierce competition.
May 2022 Toa Payoh BTO at a glance
| Location | Along Lorong 6 and Lorong 7 Toa Payoh |
| Classification | Mature estate |
| Number of units | 380 |
| Flat types | 2-room Flexi, 3-room and 4-room (19 units of 2-room rental flats) |
| Number of blocks | TBC |
| Estimated waiting time | TBC |
| Estimated completion date | TBC |
| Nearest MRT | Braddell MRT (12-min walk) |
| Nearest bus interchange | Toa Payoh Bus Interchange |
| Notable amenities | Toa Payoh Mall, Toa Payoh South, East & Central Community Clubs, Kim Keat Palm Market & Food Centre, Toa Payoh Lorong 4 & 8 Market & Food Centre, Toa Payoh Lorong 5 Food Centre, Toa Payoh Polyclinic, Toa Payoh Public Library |
May 2022 Toa Payoh 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 | Estimated price range |
| 3-room | S$350,000 – S$450,000 |
| 4-room | S$530,000 – S$680,000 |
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
Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2022 Toa Payoh BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken, maximising the 85% loan-to-value (LTV) ratio.
- The loan tenure is 25 years, with the current interest rate of 2.6%
- 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 and 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% of your monthly household income to service the home loan. This is called the Mortgage Servicing Ratio (MSR). 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%) | Min. downpayment (15%) | Estimated monthly instalment | Estimated monthly household income |
|---|---|---|---|---|---|
| 3-room | S$400,000 | S$340,000 | S$60,000 | S$1,542.48 | S$5141.60 |
| 4-room | S$605,000 | S$514,250 | S$90,750 | S$2,744.70 | S$9149 |
May 2022 Toa Payoh BTO: The Pros
Accessibility
The walk to Braddell MRT will take you about 12-minutes. From there, you can catch the MRT train to Raffles Place MRT in the CBD, which will be a 20-minute ride.
Those who drive can easily access the Pan Island Expressway (PIE) via Lorong 6 Toa Payoh, which is a mere two-minute drive away.
Food and retail amenities
Thanks to Toa Payoh being Singapore’s second-oldest satellite town (hence making it a mature estate), there’s an inexhaustible selection of amenities available to its residents. The housing estate was built to be self-contained, you don’t need to travel far to access groceries, retail, dining or entertainment options.
If you manage to snag a unit, be prepared to feast as you’ll be within walking distance of many hawker centres.
Take an eight-minute stroll to the recently revamped Kim Keat Palm Market & Food Centre. Nestled in the heart of Toa Payoh, the hawker centre serves up a plethora of delicious local cuisines at affordable prices.
Other hawker centres are Toa Payoh Lorong 4 Food Centre, Toa Payoh Lorong 5 Food Centre and Toa Payoh Lorong 8 Market & Food Centre. All three places are around eight to ten minutes away on foot.
Alternatively, hop on a bus and take a 10-minute ride to Toa Payoh Central to Toa Payoh Mall. There, you can find an entire network of amenities such as salons, restaurants, bakeries and the many bubble tea shops.
We also checked out various places of interest in Toa Payoh. To see what it’s like living near the Toa Payoh MRT station, watch this video!
Schools
If you’re a parent (or a parent-to-be), there’s First Toa Payoh Primary School, Kheng Cheng Primary School and Pei Chun Public School within a 1km radius. MOE Kindergarten @ First Toa Payoh is a seven-minute walk away, and is attached to an MOE Kindergarten. This means students from MK Kindergartens get priority when entering the affiliated primary school.
Other schools nearby include CHIJ (Primary) Toa Payoh, Beatty Secondary School, St. Gabriel’s Primary School, Marymount Convent School, CHIJ (Secondary) Toa Payoh and St Andrew’s Secondary School.
Healthcare facilities
The nearest polyclinic is United Medicare (three-minute walk) or NHGP Toa Payoh Polyclinic (10-minute walk).
As for hospitals, both Mount Alvernia and Tan Tock Seng hospital will be an eight to twelve minute drive away. Mount Alvernia’s new $25 million cancer centre was completed about a year ago to increase its capacity to treat up to 1,000 patients a year without the need for a wait list.
Recreational facilities
The nearest public sports facilities, Toa Payoh Swimming Complex is a quick nine-minute bus ride away. Right beside it is the ActiveSG Gym, Sports Hall and Stadium.
And of course, who can forget the beloved Dragon Playground. Built in 1979, this iconic symbol of heritage features a dragon head clad in terrazzo tiles and a body of colourfully-painted steel rings which children could slide or climb through. The site evokes fond nostalgic memories when playgrounds used to have sand. It’s a 10-minute walk away and located opposite SAFRA Toa Payoh.
If green spaces are your thing, the nearest park is Toa Payoh Sensory Park. It’s a small park that’s sufficient for a light jog and workout, but if you desire a bigger space, take a 15-minute stroll to Toa Payoh Town Park. There, you can enjoy the many stone bridges and gazebos, or sit by the scenic pond and enjoy a peaceful picnic on your weekends.
Residents can look forward to a seamless walking and cycling route that connects Bishan, Toa Payoh and other towns along the Kallang River to the city centre.
May 2022 Toa Payoh BTO: The Cons
No 5-room flats
Similar to the Bukit Merah and Queenstown BTO flats, one main drawback about the Toa Payoh BTO project is that there are no 5-room flats available.
Households with multiple children may find the space lacking, in which case they may want to look at the 2022 BTO launches in the non-mature estates of Yishun or Jurong West. Alternatively, taking the resale route is a valid option too.
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Oversubscription
With only 380 units available, the May 2022 Toa Payoh BTO is another project that’s expected to be in incredibly high demand, especially due to its proximity to the CBD and popular schools and good amenities that stem from a well-developed mature estate.
From the past numbers, we can see that the 4-room flats are more popular, with demand being five times more than supply.
| Application rate | ||||||
| BTO launch | Room-type | No. of units | No. of applicants | Overall | First-timer | Second-timer |
| Bartley GreenRise | 3-room | 96 | 462 | 4.8 | 2.2 | 66 |
| Bartley GreenRise/ ParkEdge @ Bidadari/ Alkaff Breeze | 4-room | 797 | 4667 | 5.9 | 5.1 | 21.4 |
May 2022 Toa Payoh BTO: Where are the best stacks with the best views?
While we wait for HDB to release the site plan, we’ll take a look at the surrounding areas to figure out where you can enjoy the best views from your potential new home.
The surrounding areas are mostly residential. One good thing is that the west of the block is separated by a road, so the opposite blocks (Block 43) are quite a distance away. This offers a degree of privacy so you won’t have neighbours peering into your house.
The HDB icon is where the new Toa Payoh BTO will be
We think the best view would be at the north-facing and north-west-facing stacks, as this gives you a nice view of the Toa Payoh Lorong 7 Park.
What’s the potential price appreciation?
Over the last 10 years, 3-room and 4-room flats in Toa Payoh have seen a healthy average psf price increase by 17.88%.
We think there’s definitely room for the price to increase further, especially since Toa Payoh hits the sweet spot of being a mature estate that’s close to the city centre.
At the time of writing, there are currently a handful of flats in Toa Payoh Crest that ended its Minimum Occupancy Period (MOP) in 2022.
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May 2022 Toa Payoh BTO: Should you apply?
If you want to live near to the CBD and town while enjoying the plethora of amenities that a mature estate brings, definitely give this BTO ballot a shot. However, chances of getting a unit are slim, seeing as it makes up just 7% of all the units in the May 2022 BTO exercise.
It’s also pretty ideal for those with a small family (or looking to start one), as the neighbourhood has many educational institutions of all levels, from primary school all the way to the tertiary level.
Given its close proximity to Orchard and Raffles Place, there’s definitely rental potential here. If you’re looking for passive income, you can consider renting out a room or your entire unit after the MOP.
Will you apply for the May 2022 Toa Payoh BTO? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, check out our overview of the May 2022 BTO projects and in-depth reviews:
- Bukit Merah May 2022 BTO
- Queenstown May 2022 BTO
Do keep a look out of our reviews for the other projects in the coming weeks!
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Frequently asked questions
How many times can I ballot for BTO?
You can ballot as many times as you can, as long as you have not been invited to select a flat. If you reject a chance to select a flat, there may be some consequences.
How much is the downpayment for HDB?
If you’re taking an HDB loan, the minimum downpayment will be 15% of the purchase price. If you’re taking a bank loan, the minimum downpayment will be 25%.
Can I apply for 2 BTO at the same time?
No, you can only apply for one project during a sales exercise.
The post May 2022 HDB BTO In-Depth Review: Toa Payoh appeared first on 99.co.
