Note: The February 2023 BTO launches have been released. Applications close on 6 March 2023, 11.59pm.
Mr Desmond Lee, Minister of National Development, announced revised BTO balloting procedures on 2 March 2023 to improve the effectiveness of BTO flat allocation.
First-timer BTO applicants who obtain a BTO ballot from August 2023 but don’t select a flat will be treated as second-timers for a year. After their second BTO application, if they are still unable to make a choice, they will have to wait a year before making another BTO application.
While filling out your BTO application during the current BTO season, keep it in mind for sure. Queenstown is a mature estate that has traditionally been one of the most sought-after areas in BTO exercises. But ever since the inception of the Prime Location Public Housing (PLH) model for new flats in the area, demand for Queenstown BTO flats has somewhat lowered.
The Ulu Pandan Glades Queenstown February 2023 BTO site consists of 732 3-room and 4-room flats, making it suitable for smaller households. It has also been classified under the PLH model. Read on to find out more.
Ulu Pandan Glades Feb 2023 Queenstown BTO Map
Ulu Pandan Glades Queenstown BTO Location (February 2023 BTO) Launch
|Name of the February 2023 BTO Queenstown launch
|Ulu Pandan Glades
|Bounded by Ghim Moh Link and Commonwealth Avenue West
|Dover MRT station
|Nearest bus interchange
|Anglo-Chinese School (Independent), Fairfield Methodist School, New Town Secondary School, Anglo-Chinese Junior College (ACJC, Singapore Polytechnic (SP), UWCSEA, Anglo-Chinese School (International), ESSEC Business School, INSEAD, School of Science and Technology (SST), and National University of Singapore (NUS)
|Other nearby amenities
|The Star Vista, Ghim Moh Road Market, Holland Village, Rochester Village, Ulu Pandan Community Club, Ulu Pandan Park Connector
Ulu Pandan Glades is located on Commonwealth Avenue West and Ghim Moh Link. It consists of 732 units of 3-room and 4-room flats. The site falls under the PLH model.
It is a seven-minute walk from Dover MRT station and a 14-minute walk from Buona Vista MRT station, offering future residents a direct connection to the Central Business District (CBD) from both stations via the East-West Line.
Residents will never run out of things to do as Ulu Pandan Glades is located within walking distance of popular food and lifestyle destinations such as Holland Village and Ghim Moh Market. The site also enjoys proximity to attractive shopping amenities like The Star Vista and upmarket lifestyle hotspots like Rochester Park.
The tech parks in One-North are within the vicinity too, making the area ideal for those who work in the area.
Parents with kids are spoilt for choice due to the abundance of educational institutions in the area, including Anglo-Chinese School (Independent), Fairfield Methodist School, ACJC, SP, UWCSEA, Anglo-Chinese School (International), ESSEC Business School, INSEAD, SST, and NUS. This makes Ulu Pandan Glades is a very convenient choice for parents who have school-going children of different ages.
Queenstown BTO Price (HDB BTO February 2023 Launch)
Looking at past Queenstown BTO launches that fall under the PLH model, the 4-room flats are likely to be oversubscribed. But competition is unlikely to be stiff, especially if you are intending to go for a 3-room unit. In total, there are 732 units up for grabs at Ulu Pandan Glades.
Based on HDB’s Q4 2022 resale statistics, the median resale price of 3-room flats and 4-room flats in Q4 2022 was $390,000 and $870,000 respectively. If those figures sound a bit low to you, that is because most resale flats in Queenstown at the moment are older flats.
By contrast, newer flats are likely to fetch a premium, especially if they are sold soon after fulfilling their Minimum Occupation Period (MOP). In central areas like Queenstown, 4-room or 5-room flats have been able to command resale prices of over $1 million. That said, the effects of the PLH model on resale prices are yet to be seen.
Budgeting for Your Queenstown February 2023 BTO Home Loan
The Queenstown February 2023 BTO flats are not going to come cheap. Planning your finances and knowing what you can afford is thus indispensable.
In the table above, we have used the lowest starting price estimates, but your actual price will vary depending on the unit you select. All prices stated here exclude CPF housing grants.
In accordance with the September 2022 property cooling measures, we have gone with an interest rate of 2.6% and a Loan-to-Value (LTV) of 80% for the HDB loan examples and an interest rate of 3.4% and an LTV of 75% for the bank loan examples. At the time of writing (28 February 2023), the lowest interest rate offered is 3.75%.
All of the above examples have been fleshed out on the basis of a 25-year loan. However, depending on your ability to take on higher monthly instalments, you might prefer to opt for a shorter loan tenure which will enable you to repay the loan sooner.
To obtain an estimate tailored to the specifics of your loan, play around with PropertyGuru’s affordability calculator. You can also speak to PropertyGuru Finance mortgage experts for personalised advice on home loans and financing.
Queenstown BTO Amenities (HDB BTO February 2023 Launch)
Walking Distance to MRT Stations
Ulu Pandan Glades is located at a seven-minute walk from Dover MRT station and a 14-minute walk from Buona Vista MRT station. Both stations connect directly to the CBD via the East-West Line (EWL), no line changes are needed.
City Fringe Location With Easy Access to the City Centre
Other than convenience to MRT stations, Ulu Pandan Glades also enjoys relatively quick access to the city centre via Commonwealth Avenue West and Holland Road.
Attractive Food and Lifestyle Options
Many popular F&B and lifestyle destinations are located within walking distance of Ulu Pandan Glades, including Holland Village, Ghim Moh Road Market, The Star Vista, and Rochester Park.
Wide Range of Schools and Tertiary Institutions Nearby
As mentioned above, the estate is home to a generous selection of reputable schools and tertiary institutions.
Conclusion: Is the February 2023 HDB BTO Launch Worth Balloting For?
Ulu Pandan Glades BTO flats are situated at a choice location, in a popular city fringe area, filled with well-loved amenities and prestigious schools.
Pros of Queenstown HDB BTO February 2023 Launch
- Central location
- Walking distance to MRT stations
- Many attractive, food, shopping and lifestyle options
- Near many popular schools and tertiary institutions
Cons of Queenstown HDB BTO February 2023 Launch
- 5-room flats not available
- May fall under the PLH model
- A limited supply of flats
Applying for February 2023 HDB BTO Flats
Want more information on each Feb 2023 BTO launch? Read our detailed reviews on each of them here:
- February 2023 BTO Launch Review: Jurong West, Kallang/Whampoa, Queenstown, Tengah
- February 2023 BTO Tengah Review: Affordable Flats in New Housing Estate
- February 2023 BTO Jurong West Review: Affordable Flats Near NTU
- February 2023 BTO Kallang/Whampoa Review: Two Sites in Attractive Central or City Fringe Locations
How Do I Register for BTO?
For an overview of the procedure to apply for a BTO flat in Singapore, watch our guide here.
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.
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