HDB BTO Feb 2024 Punggol Review: Along Punggol Reservoir, Short Drive to Punggol MRT and LRT Stations

HDB BTO Feb 2024 Punggol Review: Along Punggol Reservoir, Short Drive to Punggol MRT and LRT Stations
HDB BTO Feb 2024 Punggol Review: Along Punggol Reservoir, Short Drive to Punggol MRT and LRT Stations

The HDB BTO Punggol Feb 2024 launch will comprise about 960 flats across 2-room Flexi up to 5-room flats. Located along Punggol Reservoir on one side and Sumang Lane on the other, it is about a 13-minute drive to Punggol MRT and LRT stations. Good news: due to the developing nature of the neighbourhood, there is much potential for upcoming amenities and developments to look forward to.

Families with younger children will likely be drawn to choice schools in the area. Sengkang is also just across the Tampines Expressway (TPE) and the Punggol town centre with a plethora of amenities and a shopping mall is a short bus or train ride away.

Interested in the Punggol HDB BTO Feb 2024 launch? Watch our video guide to get started.

Guide to Applying for a BTO Flat (Video)

Do note that the HDB Flat Eligibility (HFE) letter has come into effect. In case you need a reminder, the HDB HFE letter is an assessment of your HDB flat, CPF Housing Grant, and HDB loan eligibility.

Just log into your account on the HDB Flat Portal via Singpass, key in your eligibility criteria details, and request your HFE letter. You will need to submit a valid HDB HFE letter alongside your BTO application. The HDB HFE letter validity period is nine months.

HDB BTO February 2024 Punggol BTO Map

Location of the Punggol HDB BTO Feb 2024 flats, along Sumang Lane and Punggol Reservoir. Source: HDB

BTO Punggol February 2024 Location

Punggol HDB BTO February 2024 name TBA
Address Along Sumang Lane and Punggol Reservoir
Nearest MRT station Punggol MRT station
Nearest bus interchange Punggol bus interchange
Nearest schools Punggol Green Primary School, Yusof Ishak Secondary School, Valour Primary School, Edgefield Secondary School, Punggol View Primary School, Edgefield Primary School, and Punggol Cove Primary School
Other nearby amenities Sengkang Riverside Park, Sengkang Active SG Sports Centre, Sengkang Swimming Complex, and Punggol West Community Centre

Along the south-western edge of Punggol, along Sumang Lane and Punggol Reservoir, you’ll find the site of these upcoming HDB BTO Punggol February 2024 flats. Currently, Soo Teck LRT station is a 17-minute walk away and 25 minutes to get to Punggol MRT station on the North-East Line (NEL), where there is also a sprawling shopping mall.

For drivers, the TPE is close by for quick access to other parts of Singapore. Meanwhile, those on bicycles or foot will love the convenience of staying just beside the Punggol Park Connector that runs alongside Punggol Reservoir.

For young families, in addition to enjoying walks in nature, nearby schools include Punggol Green, Valour, Punggol Cove and Punggol View Primary Schools each with their attached MOE Kindergartens, as well as Yusof Ishak Secondary School, and Edgefield Secondary School.

Other nearby amenities include Punggol West Community Centre and the neighbouring town of Sengkang, Sengkang Riverside Park, Sengkang Active SG Sports Centre, and Sengkang Swimming Complex.

Want to stay in Punggol but don’t want to wait for the February 2024 BTO launch? Check out Punggol HDB resale flats on PropertyGuru.

Punggol BTO Price (HDB BTO February 2024 Launch)

Unit type Punggol BTO Price (HDB BTO Feb 2024) Previous Punggol BTO Price (HDB BTO Sept 2019) Previous Punggol BTO Price (HDB BTO Aug 2018) Median resale flat prices in the area (based on HDB Q3 2023 statistics)
2-room Flexi From $130,000 (estimated) From $109,000 From $103,000 to $158,000 $337,500 (model A)
3-room From $250,000 (estimated) From $205,000 to $268,000 From $188,000 to $242,000 $470,000
4-room From $350,000 (estimated) From $287,000 to $398,000 From $286,000 to $362,000 $600,000
5-room From $480,000 (estimated) From $423,000 to $551,000 From $393,000 to $489,000 $677,500

The last round of Punggol BTO flats was in 2019, as was the last round of BTO flats in the adjacent Sengkang neighbourhood. Our estimates are based on inflation and are just meant to be a guide for budgeting considerations.

The upcoming February 2024 Punggol HDB BTO launch will have 960 flats across 2-room Flex, 3-room, 4-room, and 5-room configurations. It is hard to estimate the application rates, but because the area in the immediate vicinity is still developing, applicants could have a good chance to get a unit. However, with its location right beside the Punggol Reservoir coupled with the flats’ affordability and large 5-room units, nature lovers might be vying with one another for the bigger flats.

Based on the median resale flat prices in the area, the HDB flats in Punggol will likely see some appreciation after their Minimum Occupation Period (MOP) is up. However, for those still yearning for the low prices of yesteryear, that ship has since sailed – homeowners might want to look at other non-mature estates for lower flat prices.

Million-dollar resale HDB flats have started to make an appearance in Punggol, with a 5-room loft unit at Punggol Sapphire changing hands for $1,220,000 in January 2023. Before that, a rare top-floor loft unit in the same development – also Punggol’s first million-dollar HDB transaction – sold for $1,198,000 in September 2022.

Budgeting for Your Punggol HDB BTO February 2024 Home Loan

HDB BTO February 2024 Punggol unit type Price (estimated) If you take an HDB loan (at 2.6% p.a., 80% LTV) If you take a bank loan (at 3.6% p.a., 75% LTV)
2-room Flexi $130,000 $26,000 downpayment, estimated $472 monthly mortgage repayments $32,500 downpayment, estimated $494 monthly mortgage repayments
3-room $250,000 $50,000 downpayment, estimated $907 monthly mortgage repayments $62,500 downpayment, estimated $946 monthly mortgage repayments
4-room $350,000 $70,000 downpayment, estimated $1,270 monthly mortgage repayments $87,500 downpayment, estimated $1,326 monthly mortgage repayments
5-room $480,000 $96,000 downpayment, estimated $1,742 monthly mortgage repayments $120,000 downpayment, estimated $1,822 monthly mortgage repayments

All prices stated above exclude CPF Housing Grants.

We used an interest rate of 2.6% and a Loan-to-Value (LTV) limit of 80% for the HDB loan example calculations and an interest rate of 3.6% and an LTV of 75% for the bank loan example calculations. The above example calculations are based on a 25-year loan. However, if you can make higher monthly repayments, you may want to opt for a shorter loan (and pay lesser interest!).

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.

Punggol BTO February 2024 Amenities (HDB BTO February 2024 Launch)

Tranquil Waterfront Location

The Punggol HDB BTO Feb 2024 project’s key draw is its scenic waterfront location, with some residents enjoying views of Punggol Reservoir, as well as the park connector running just alongside the flats. It is also further from the town centre, which adds to its undisturbed location, save for the sound of traffic from the nearby expressway.

Potential for Further Development

The area in the immediate vicinity is still developing, so many of the amenities in the surrounding area have not yet been built. With plans for a nursing home, as well as civic and community developments in the area, there is much potential for further development here in time to come. In the meantime, residents can benefit from the proximity of amenities in neighbouring Sengkang, such as Sengkang ActiveSG Sports Centre, Sengkang Swimming Complex, and Sengkang Riverside Park, all within walking distance.

Education Support for Young Families

There are a couple of primary schools in the area, with attached MOE Kindergartens for preschool support. You’ll also find secondary schools for your older children’s education needs.

Conclusion: Is the Punggol February BTO 2024 Project Worth Balloting For?

This is a new launch in Punggol since the last one in 2019, so families who have parents staying in the nearby Sengkang or Punggol areas can consider balloting for these flats. The green lungs nearby are also a big draw (barring the potential expressway traffic noise) if the distance to LRT and MRT stations is a lesser concern. 

With 960 units in 2-room Flexi to 5-room configurations, the project is a great option for families, especially those who are looking to expand their brood or want more space for their kiddos, extended family and/or pets. The education options nearby are also a pull factor.

Price-wise, the flats are still priced competitively but could come at a higher price tag than the HDB BTO Feb 2024 flats in other non-mature estates. For those working in central Singapore, it is also a trade-off between convenience and tranquillity.

Pros of Punggol February BTO 2024

  • Larger supply of flats
  • Close to green spaces
  • Close to park connector
  • Close to the expressway (benefits drivers)
  • Affordable flat prices
  • Good mix of amenities in the area (but further by foot)
  • A good number of pre-schools in the area
  • Potential for further development of the area
  • Tranquil location
  • Close to Sengkang
  • Good range of flat types
  • Good for seniors, singles, couples, all the way to big families
  • Lower competition expected

Cons of Punggol February BTO 2024

  • Far from main transport nodes (MRT/LRT stations) by foot
  • Far from the town centre
  • Far from the city centre
  • May lack the amenities that a mature estate can offer
  • Close to the expressway (potential traffic noise)

Location aside, what’s attractive is its proximity to the reservoir, affordable flat prices, and good education support. For that, everyone, from seniors and singles to families of any size, will be enticed to ballot for these Punggol BTO flats.

BTO Application Process Updates

All BTO applicants will now need to apply for the HDB Flat Eligibility (HFE) letter before applying for their desired BTO project.

If you’re thinking of applying for an upcoming BTO flat in the February BTO 2024 launch, you should have already applied for and received your valid HFE letter; while HDB will take up to 21 working days to process your application, they may face delays during peak periods (e.g. BTO launch weeks).

Now, first-timer BTO applicants who reject their BTO ballots will also be considered second-timer applicants for one full year. During their second BTO application attempt, if they reject another BTO ballot, they won’t be able to apply for any BTO flats in the following year.

Furthermore, the Family and Parenthood Priority Scheme (FPPS) has officially replaced the Parenthood Priority Scheme (PPS). This new HDB scheme includes a new applicant priority subset, the First-Timer (Parents and Married Couples) category, or FT(PMC). Up to 40% of BTO flats in each sales exercise will be reserved for eligible FT(PMC) applicants.

Lastly, if you are an FT(PMC) who was unsuccessful for two or more tries (in a non-mature estate), you will receive one more chance per subsequent BTO application. This rule was introduced to help those unsuccessful in repeated balloting attempts.

Applying for Punggol February 2024 HDB BTO Flats

Those who are still undecided about the Punggol February 2024 BTO flats, read about the other February 2024 BTO projects before applying below:

  • HDB BTO Feb 2024 Launch Review: Punggol, Hougang, Woodlands, Queenstown, Bedok, Choa Chu Kang

Do note that from October 2023 onwards, first-timers who successfully ballot but do not select a flat will be considered second-timers for the following year. If they still don’t choose a flat on their second BTO application, further restrictions could be imposed. They would then be unable to apply for a BTO flat at all for a year.

For more property news, content and resources, check out PropertyGuru’s guides section.

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