Home Loans

May 2022 HDB BTO Launch Review: The Time to Buy?

The May 2022 HDB BTO is finally out with a total of 4,583 BTO flats across 5 highly sought-after estates. Read on to find out more about the launches and the various housing loans & grants that you are eligible for.

For those who are waiting to apply for the HDB Build To Order (BTO) flat, be it with your significant other, eligible bachelors over the age of 35, or even those under the joint singles scheme, wait no longer. This May 2022 BTO launch is sure to be highly contested, with a total of 4,583 BTO flats across 5 estates to be launched.

The main highlight of this BTO launch is most certainly the two projects launched under the Prime Location Housing (PLH) model - Bukit Merah Ridge in Bukit Merah and Ghim Moh Ascent in Queenstown.

The other projects do not seem any less attractive however, as they too are located in popular housing areas - Toa Payoh, Yishun and Jurong West.

May 2022 HDB BTO Launch Overview

BTO Launch EstateUnit MixUnits Available
Bukit Merah3-room, 4-room1,669
Queenstown3-room, 4-room867
Toa Payoh2-room Flexi, 3-room, 4-room385
Yishun2-room Flexi, 4-room, 5-room646
Jurong West2-room Flexi, 3-room, 4-room, 5-room1,016

Prime Location Housing (PLH) Model

For those who do not know what is the PLH model, here is a quick overview:

HDB Inforgraphic on PLH
Source: Housing Development Board (HDB)

This allows new public housing that is built in prime, central locations to remain affordable and accessible for Singaporeans.

For more information, please refer to HDB’s website over here.

Bukit Merah Ridge (Bukit Merah)

Flat TypeUnitsSelling Price
3-room443S$377,000 - S$509,000
4-room1,226S$540,000 - S$737,000
Estimated Completion: 1Q2028
Bukit_Merah_Ridge Planned Location Map
Housing Development Board (HDB)

Amenities: Henderson Community Club & Neighbourhood Police, Bukit Merah View Neighborhood Centre (w/ market & food centre), Tiong Bahru Plaza, Tiong Bahru Park

Schools: Zhangde Primary School, Alexandra Primary School, Gan Eng Seng Secondary (~1km)

Close Proximity to CBDLack of 5-room Flats for Bigger Families & 2-room Flats for Young Couples
Convenient Access to Basic Amenities & Retail GoodsLong Waiting Time for Completion
Near to Tiong Bahru & Redhill MRT stationOn The Pricier End
Close proximity with 3 nearby primary schools

Ghim Moh Ascent (Queenstown)

Flat TypeUnitsSelling Price
3-room196S$369,000 - S$481,000
4-room671S$511,000 - S$691,000
Estimated Completion: 1Q2028
Ghim_Moh_Ascent Planned Location Map
Housing Development Board (HDB)

Amenities: Ulu Pandan Community Club, Buona Vista Community Club, Civil Service College, Ghim Moh Market & Food Centre, The Star Vista, Ulu Pandan Park Connector

Schools: Anglo-Chinese School (International), Anglo-Chinese Junior College, Fairfield Methodist School (Primary), Fairfield Methodist School (Secondary), Henry Park Primary School (~2km)

Close Proximity to Dining & Entertainment Options at Holland VillageLack of 5-room Flats for Bigger Families & 2-room Flats for Young Couples
Convenient Access to Basic AmenitiesLong Waiting Time for Completion
Walking Distance to Dual-Line Buona Vista MRT StationOn The Pricier End
Near Multiple Highly Sought After SchoolsNoise & Dust from Construction on Future Residential Developments

Kim Keat Heights (Toa Payoh)

Flat TypeUnitsSelling Price
2-room Flexi (Type 1)34S$162,000 - S$206,000
2-room Flexi (Type 2)86S$215,000 - S$263,000
3-room100S$289,000 - S$373,000
4-room165S$420,000 - S$559,000
Estimated Completion: 3Q2027
Kim_Keat_Heights Planned Location Map
Housing Development Board (HDB)

Amenities: Toa Payoh East Community Club, Toa Payoh Sensory Park, Toa Payoh Lorong 5 Food Centre, Kim Keat Palm Market & Food Centre, Toa Payoh Lorong 8 Market & Food Centre

Schools: Pei Chun Public School, First Toa Payoh Primary School, Kheng Cheng School (~1km)

Close Proximity to CBDSome Distance from Nearest MRT Stations: Toa Payoh & Braddell
Well Developed EstateOnly 385 units; Expect Stiff Competition
Convenient Access to Basic Amenities with Multiple Food & Market OptionsLack of 5-room Flats for Bigger Families
Near Multiple Highly Sought After Schools

Yishun Beacon (Yishun)

Flat TypeUnitsSelling Price
2-room Flexi (Type 1)52S$123,000 - S$144,000
2-room Flexi (Type 2)221S$144,000 - S$184,000
4-room207S$328,000 - S$418,000
5-room166S$485,000 - S$595,000
Estimated Completion: 2Q2026
Yishun_Beacon Planned Location Map
Housing Development Board (HDB)

Amenities: Northpoint City, Yishun Pond Park, Yishun Community Hospital/ Khoo Teck Puat Hospital, Yishun Swimming Complex, Yishun Park Connector

Schools: Huamin Primary School, Jiemin Primary School, Naval Base Primary School, Northland Primary School, Peiying Primary School, Xishan Primary School, Yishun Primary School (~1km)

Walking Distance to Yishun MRT StationHigh Traffic & Above Ground Noise
Close Proximity to NorthPoint City for Major Retail, Dining & Entertainment OptionsSuperstitious People: Next to Hospital
Within 1km Distance to Multiple Primary SchoolsLack of 3-room Flats for Young Families with 1 or 2 Children
Able to use Married Child Priority Scheme, Multi-Generation Priority Scheme

Lakeside View (Jurong West)

Flat TypeUnitsSelling Price
2-room Flexi (Type 1)100S$123,000 - S$144,000
2-room Flexi (Type 2)355S$133,000 - S$180,000
3-room101S$215,000 - S$265,000
4-room246S$320,000 - S$393,000
5-room214S$412,000 - S$526,000
Estimated Completion: 4Q2026
Lakeside_View Planned Location Map
Housing Development Board (HDB)

Amenities: Jurong Lake Gardens, Jurong Park Connector, Jurong East Sports Centre, Taman Jurong Community Club, Taman Jurong Market & Food Centre

Schools: Boon Lay Garden Primary School, Lakeside Primary School, Rulang Primary School, Shuqun Primary School (~1km)

Great Scenic ViewQuite a Distance from Taman Jurong Shopping Centre for Basic Amenities
Available Flat Options for Every FamilyDistant from the Nearest MRT Station
Close to Multiple Primary Schools

HDB Housing Loan vs Bank Home Loan

Unless you can make the full payment for your new flat upfront, you are most likely going to seek some sort of housing loan from either the banks or HDB.

So, the question is: Do I go for the HDB Loan or Bank Home Loan?

Before we discuss this question in further detail, let’s look at the key differences between HDB loan and Bank Home Loan:

HDB House LoanBank Home Loan
Downpayment10% of purchase price (Can be paid in full using CPF OA savings)25% of purchase price (5% made in cash)
Interest RatesPegged at 0.1% above OA interest rateGenerally lower but fluctuates with market conditions
Borrower EligibilityMany requirements such as income ceilingA good credit score would suffice
Property EligibilityHDB flats onlyHDB & Private Property
Minimum Loan SizeNoneS$100,000
Loan-to-Value LimitUp to 85% of property valueUp to 75% of property value
Late Repayment Penalty7.5% per annumNot as lenient as HDB Loan

To gain a better understanding on the differences between HDB loan and Bank Loans, please refer to our in-depth analysis over here.

Your decision could depend on a basket of factors. Below are some questions that you should ask yourself before making a decision.

Am I eligible to apply for the house loan? Will I face cashflow problems if paying the 5% downpayment in cash for the Bank Home Loan? How much would I need to borrow? Am I able to pay 25% of the purchase price as downpayment to the bank? Will I have difficulty repaying the loan on time?

To make a more informed choice regarding your home loan, do check out over here to understand all there is to know about home loans.

HDB Housing Grants

Buying a house is a big-ticket investment and grants could help you ease your finances. Understanding the housing grants that you are eligible for and how to apply for them could prove very useful in your new property purchase.

Listed below is an overview of the types of grants for each property type:

HDB TypeHDB/CPF Housing GrantIncome CeilingGrant Amount
BTO/ResaleEnhanced CPF Housing GrantS$9,000S$5,000 to S$80,000
ResaleHousing Grant for Resale FlatsS$14,000S$15,000 to S$50,000
ResaleStep-Up CPF Housing GrantS$7,000S$15,000
Resale Proximity Housing GrantS$12,000S$20,000 to S$30,000
ECFamily GrantS$12,000S$10,000 to S$30,000
Note: The grant amounts listed are based on the values for couples/families

These HDB housing grants are given to lower-middle income families to help make their home purchase more affordable. Hence, the lower your total income, the higher the grant amount. The grant amount is also dependent on whether you are a Singapore Citizen/Singapore Citizen couple (SC/SC) or Singapore Citizen/Singapore Permanent Resident (SC/PR) couple.

For more information on your grant eligibility, please refer to HDB’s official website over here.


Purchasing your first BTO flat could prove to be a tedious job with many things to consider. Location and affordability of the flat is one main consideration, but the follow-up after making the purchase is something many often overlook. Things such as the average cost of home loans, being able to refinance your housing loan, home insurance etc should be factors of consideration prior to making your BTO flat purchase. To end off… All the best for your house-hunting journey!

Refer over here for more tips to manage your personal finances!

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Fiona Ling

Fiona is a full-stack marketer working in the digital sphere for more than six years.
A self-proclaimed foodie and bargain hunter, she wants to bring the best deals and value to the community around the world. When not working on her pet projects, Fiona can be found sipping a coffee while reading a paperbacks or watching mystery thrillers on Netflix and Disney+.

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