August is here and 3,350 Built-To-Order (BTO) flats are set to be available for balloting this month in Punggol and Tampines in what is HDB’s third sales launch of the year. Here’s some essential information for you to decide whether to ballot for this round and which estate to ballot for.
The development in Punggol is the larger of the two with a mix of 2-room Flexi, 3-room, 4-room and 5-room flats making up a total of 2,710 units.
There are two projects split by New Punggol Road. Residing near the waterfront, future residents will be able to enjoy a sea view as the development overlooks the Punggol Jetty. While the flats are not exactly in close proximity to Punggol MRT station, it is situated close to Punggol Point LRT. As part of the North East Line (NEL) extension, the Punggol Coast MRT station is also expected to be completed by Year 2023 providing increased accessibility to public transportation.
In terms of amenities available, Waterway Point as well as several primary schools and parks are all located within the vicinity. Not to mention, the Punggol Digital District which is set to open in 2023 is expected to create over 28,000 jobs. This not only means increased convenience but also the possibility of increased rental opportunities for residents.
While the price for the upcoming BTO is yet to be released, we can look at the recent project in August 2018 to get a rough estimation on what prices will be like for this upcoming launch. The prices for the August 2018 launch were as follows:
- 2-room Flexi: From $103,000
- 3-room: From $188,000
- 4-room: From $286,000
- 5-room: From $393,000
With flats overlooking the sea, convenience to public transport and various amenities, as well as potential for price appreciation, the Punggol launch is set to be in high demand. If you do not mind being located further out from town, there is much potential for this development and is worth considering.
As a mature estate, there is limited space available for the launch of new flats. Nevertheless, we are still expecting 640 units to be made available in the upcoming launch. The development will come in 4-room and 5-room configurations only.
Land scarcity is definitely a problem in a mature estate like Tampines. However, the government has made use of the outskirts of Tampines to launch new flats. The vicinity does not offer much at present apart from Giant, Courts and Ikea. However, with several other BTO developments from other sales being built, a range of amenities such as parks can be expected to pop up at the area.
While Tampines MRT station is pretty far out, the Tampines North MRT station which is expected to be completed in Year 2029 is located only about 400m away. When it comes to shopping malls, Tampines does not come short. With Tampines Mall, Century Square and Tampines 1 shopping centres, future residents can take a short bus ride for their shopping pleasures.
A mature estate naturally means higher prices. Based on the previous BTO launch in November 2018, these are the prices you can expect to fork out for this development:
- 4-room: From $352,000
- 5-room: From $472,000
Is Tampines’ mature estate label worth the higher price tag considering that this development is currently not as mature as other parts of Tampines? Well, there are still many benefits of living in Tampines. Only time will tell.
Whether is it the Punggol BTO or the Tampines BTO that you have decided to ballot for, what you will definitely need is a housing loan. Be sure to Contact Us to find the best home loan package for your needs.
Stay tuned to find out more about the upcoming November 2019 BTO launch!