The May 2023 BTO launch exercise will be particularly exciting for households hoping to secure a unit in a mature estate. Units in three mature estates, namely Kallang/Whampoa, Bedok, and Serangoon will be up for grabs.
Of the three, the upcoming BTO 2023 project in Kallang/Whampoa enjoys the most central location in the heart of Little India. However, it is likely to fall under the Prime Location Public Housing (PLH) model.
Only about 570 3-room and 4-room Kallang/Whampoa BTO flats will be available in the upcoming May 2023 BTO exercise, which means demand could be high from couples without kids or smaller households. Read on to find out more about this upcoming BTO 2023 launch.
HDB BTO May 2023 Kallang/Whampoa BTO Map
Kallang/Whampoa HDB BTO Location (HDB BTO May 2023 Launch)
|Name of the Kallang/Whampoa HDB BTO May 2023 project||TBA|
|Address||Bounded by Farrer Park Road and Dorset Road|
|Types of BTO flats available||3-room and 4-room flats|
|Nearest MRT stations||Little India and Farrer Park MRT stations|
|Nearest amenities||Berseh Food Centre, Centrium Square, City Square Mall, Jalan Besar Plaza, Jalan Besar Stadium and Swimming Complex, KK Women’s and Children’s Hospital, Kwong Wai Shiu Hospital, Mustafa Centre, Pek Kio Community Centre, Tekka Centre, and Velocity @ Novena Square|
|Nearby schools||Farrer Park Primary School and St. Joseph’s Institution (SJI) Junior|
The upcoming BTO 2023 flats in Kallang/Whampoa are in a highly central location on Farrer Park Road and Dorset Road. They are about a 10-minute walk from Little India MRT on the North East Line (NEL) and Downtown Line (DTL), and a 15-minute walk from Farrer Park MRT on the NEL. This upcoming BTO 2023 site is also located quite near a few other MRT stations, including Jalan Besar a 17-minute walk away and Rochor a 23-minute walk away.
There is no shortage of shopping, dining, and lifestyle amenities in the area, including Mustafa Centre, City Square Mall, and Tekka Centre, all of which are located within walking distance. Meanwhile, lifestyle hubs Jalan Besar, Bugis, and Kampong Glam can be reached on foot. Future residents who work in the CBD will also enjoy a short commute via MRT.
The upcoming BTO 2023 project’s main disadvantages affect larger families: the low number of schools within walking distance and the lack of 5-room flats.
Kallang/Whampoa HDB BTO Price (HDB BTO May 2023 Launch)
|Unit type||Kallang/Whampoa BTO Price (HDB BTO May 2023)||Previous Kallang/Whampoa BTO Price (HDB BTO February 2023)||Previous Kallang/Whampoa BTO Price (HDB BTO November 2022)||Median resale flat prices in the area (Q4 2022)|
|3-room flat||TBA||$356,000 to $449,000||$335,000 to $447000||$380,000|
|4-room flat||TBA||$484,000 to $631,0000||$509,000 to $690,000||$788,000|
Based on past PLH BTO launches, the upcoming BTO 2023 flats in Kallang/Whampoa are going to be priced at a premium, due to their highly central location.
Due to the unavailability of 5-room flats, this upcoming BTO launch is likely to be most attractive to small households and couples without children.
According to HDB’s resale statistics for Q4 2022, the median resale price in Kallang/Whampoa for 3-room flats was $380,000, while that for 4-room flats was $788,000.
These resale prices look low compared to the indicative pricing of recent BTO launches in the area. However, it should be noted that a large proportion of past resale flats are older flats reaching the tail end of their lease. New buyers who intend to sell their flat right after the expiry of the Minimum Occupation Period (MOP) will enjoy higher resale prices, although the extent to which the PLH model will dampen capital gains has yet to be seen.
Budgeting for Your Kallang/Whampoa May 2023 BTO Home Loan
The Kallang/Whampoa May 2023 BTO flats are likely to be priced at a premium, so budgeting is crucial to ensure you are able to comfortably afford your new home.
|HDB BTO May 2023 Kallang/Whampoa unit type||Price||If you take an HDB loan (at 2.6% p.a., 80% LTV)||If you take a bank loan (at 3.4% p.a., 75% LTV)|
|3-room flat||$400,000||$80,000 down payment, estimated $1,451.74 monthly mortgage repayments||$100,000 down payment, estimated $1,788.03 monthly mortgage repayments|
|4-room flat||$550,000||$110,000 down payment, estimated $1,996.51 monthly mortgage repayments||$137,500 down payment, estimated $2,458,54 monthly mortgage repayments|
In the table above, all prices are estimates, as the official prices have yet to be released by HDB. Note that your actual price will vary depending on the unit you select. All prices stated here exclude CPF housing grants.
We have used an interest rate of 2.6% and a Loan-to-Value (LTV) limit of 80% for the HDB loan examples and an interest rate of 3.4% and an LTV of 75% for the bank loan examples. The above examples go on the basis of a 25-year loan. However, if you can make higher monthly repayments, you may want to opt for a shorter loan.
For a more accurate estimate appropriate to your situation, you can use PropertyGuru’s affordability calculator. You can also chat with a PropertyGuru Finance Mortgage Expert for personalised advice on home loans and financing.
Kallang/Whampoa BTO Amenities (HDB BTO May 2023 Launch)
Highly Desirable City Centre Location
The Kallang/Whampoa May 2023 BTO site is located in the heart of Little India, close to well-loved amenities like Mustafa Centre and Tekka Centre, and a short distance from popular shopping, dining, and lifestyle locations like Bugis, Kampong Glam, and Jalan Besar.
Excellent Public Transport Connectivity
The upcoming BTO 2023 site is located a 10-minute walk from Little India MRT station on the DTL and NEL, and a 15-minute walk from Farrer Park MRT station on the NEL. It is also a 17-minute walk from Jalan Besar MRT station and a 23-minute walk from Rochor MRT stations, both on the DTL.
A Wealth of Shopping, Dining, and Lifestyle Options Nearby
Thanks to its location in Little India, the Kallang/Whampoa May 2023 BTO site enjoys access to a wealth of Indian and local eateries. Residents can also walk to Jalan Besar, with its chic cafes and well-loved dining options. Just a stone’s throw away is Kampong Glam, with its many restaurants, cafes and bars, and Bugis, with its many shopping malls and entertainment options.
Conclusion: Is HDB May 2023 Kallang/Whampoa BTO Project Worth Balloting for?
The upcoming May 2023 BTO flats in Kallang/Whampoa are suitable for smaller households with a bigger budget (i.e. “dual income, no kids” couples who are willing to pay more for an attractive location). As the flats are likely to fall under the PLH model, they are more suitable for those who wish to live in them long-term rather than treat them purely as an investment.
Pros of Kallang/Whampoa May 2023 HDB BTO Launch
- Central location
- Walking distance to several MRT stations
- Lots of good food options nearby
- Lots of shopping and entertainment options
Cons of Kallang/Whampoa May 2023 HDB BTO Launch
- Likely pricey
- Could fall under the PLH model
- 5-room flats not available
Want to live in Kallang/Whampoa without having to wait for an HDB BTO flat? Check out the latest Kallang/Whampoa resale flat listings on PropertyGuru.
Applying for May 2023 BTO Flats
Not sure if you should ballot for the Kallang/Whampoa May 2023 BTO flats? You could either go for a Sale of Balance Flats (SBF) unit or read about the other upcoming BTO launches for May 2023 before applying below:
- HDB BTO May 2023 Launch Review: Bedok, Kallang/Whampoa, Serangoon, and Tengah
- May 2023 BTO Serangoon Review: First Launch in Almost a Decade, Near Serangoon Gardens Estate
- May 2023 BTO Bedok Review: 10-minute Walk from Tanah Merah MRT
- May 2023 BTO Tengah Review: A Win for Both Drivers and Public Transport Commuters
Want to Apply for an Upcoming HDB BTO Flat?
For a quick checklist on applying for an HDB BTO flat, watch our video above.
Please be informed that first-time BTO candidates who receive a BTO ballot but do not choose a flat will be regarded as second-timers for the next year as of the August 2023 BTO launch. They won’t be allowed to apply for a BTO flat at all for a year if they don’t choose a flat on their second BTO application.
For more property news, content and resources, check out PropertyGuru’s guides section.
Looking for a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.
Need help financing your latest property purchase? Let the mortgage experts at PropertyGuru Finance help you find the best deals.