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May 2023 BTO Serangoon Review: First Launch in Almost a Decade, Near Serangoon Gardens Estate

Mary Wu
May 2023 BTO Serangoon Review: First Launch in Almost a Decade, Near Serangoon Gardens Estate
Note: The May 2023 BTO launches have been released. The application deadline has been extended and will close on 8 June 2023, 11.59pm.
Historically, there has only been one BTO launch in Serangoon. Taking place in January 2014, that launch involved 150 studio apartments. So, when HDB announced there will be an upcoming Serangoon BTO launch, many were excited.
This Serangoon North Vista May 2023 BTO launch is the first time since the BTO exercise was introduced that families will be able to ballot for 4-room and 5-room flats in the mature estate. So, we expect interest in this launch to be intense.
To turn the heat up even further, only 330 flats are available in the Serangoon North Vista May 2023 BTO launch. We predict that successfully balloting for a flat in this project is going to require lots of luck.
Set on applying for the Serangoon North Vista May 2023 BTO project but not sure how to start? Check our video guide for a quick overview.

Guide to Apply for an HDB BTO Flat

Note: While the new HDB Flat Eligibility (HFE) letter has come into effect, those applying for all May 2023 BTO projects will only require the HFE preliminary check when submitting your applications.

Serangoon North Vista May 2023 HDB BTO Location

Name of the Serangoon HDB BTO May 2023 projectSerangoon North Vista
AddressBounded by Yio Chu Kang Road, Serangoon North Avenue 1
Types of BTO flats available4-room and 5-room flats
Nearest MRT stationKovan MRT station
Nearest amenitiesChomp Chomp Food Centre, Hwi Yoh Green, Serangoon Garden Market and Food Centre, Serangoon North Community Park, Serangoon Stadium, and Serangoon Swimming Complex
Nearby schoolsLycée Français de Singapour, Peicai Secondary School, Rosyth School, Serangoon Garden Secondary School, and Zhonghua Primary School

Serangoon North Vista HDB BTO May 2023 BTO Map

Location of the Serangoon North Vista May 2023 BTO project, bounded by Yio Chu Kang Road, Serangoon North Avenue 1. Source: HDB
Located at the intersection of Yio Chu Kang Road and Serangoon North Avenue 1, the Serangoon North Vista May 2023 BTO project is about a 15-minute walk from the Serangoon Gardens Estate, an affluent housing estate that has become a bit of a lifestyle destination for people who live in the northeast.
There is an abundance of good food options in the area, including the famous Chomp Chomp Food Centre, Serangoon Garden Market Food Centre, and many cafes and restaurants.
Another advantage the Serangoon North Vista May 2023 BTO project offers is the proximity to sporting amenities such as Serangoon Swimming Complex and Serangoon Stadium.
The Serangoon North Vista May 2023 BTO project’s biggest disadvantage is that it is located quite far away from the nearest MRT station, Kovan on the North East Line (NEL), which is about a 20-minute walk away. Serangoon MRT station, on the NEL and Circle Lines (CCL), is similarly a little over a 20-minute walk away.

Serangoon North Vista BTO Price (HDB BTO May 2023 Launch)

4-room flat
From $397,000
$577,000
5-room flat
From $558,000
Less than 20 resale transactions were made in this quarter, so data may not be representative
Due to the lack of recent 4-room and 5-room BTO launches in the area, the Serangoon North Vista May 2023 BTO project will also set a new precedent for prices in the area. Prices for BTO flats in mature estates like Serangoon tend to be on the higher end of the BTO pricing spectrum.
However, the location is not near an MRT station (yet!). So, this factor may bring down the prices for the Serangoon North Vista BTO 2023 flats. Only time will tell how much these Serangoon BTO flats will cost.
HDB’s resale statistics for Q1 2023 indicate that the median resale price for 4-room flats was $577,000. If this median price seems a bit low, that is because most of the sales involve older resale flats.
New flats in the area are likely to be priced at a premium, and could also have a decent chance of enjoying good capital gains right after the Minimum Occupation Period (MOP) is complete.

Budgeting for Your Serangoon North Vista May 2023 BTO Home Loan

Be prepared to pay a premium for the Serangoon North Vista May 2023 BTO flats. As such, it is essential to budget wisely to ensure you can afford your monthly instalments.
4-room
From $397,000
$79,400 down payment, estimated $1,441 monthly mortgage repayments
$99,250, down payment, estimated $1,573 monthly mortgage repayments
5-room
From $558,000
$11,160 down payment, estimated $2,025 monthly mortgage repayments
$13,950 down payment, estimated $2,073 monthly mortgage repayments
We used the starting prices of 4-room and 5-room flats listed in the Serangoon North Vista May 2023 BTO project. All prices indicated do not include 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.

Serangoon North Vista BTO May 2023 Amenities

First BTO Launch in a Popular Mature Estate in Nine Years

Since the BTO exercise started in 2001, there has only been one launch in Serangoon, featuring only studio apartments. This is the first time buyers get to purchase new 4-room and 5-room flats in the mature estate, where there are many established amenities, including food, shopping, and recreational facilities.

A Wealth of Nearby Good Food Options

The Serangoon North Vista May 2023 BTO project is located within walking distance of the Serangoon Gardens Estate, which is home to many popular eateries, including famous hawker centres like Chomp Chomp Food Centre and Serangoon Garden Market and Food Centre.

Near Lots of Sports Facilities

The Serangoon North Vista May 2023 BTO project is within walking distance of Serangoon Swimming Complex and Serangoon Stadium.

Conclusion: Is the Serangoon North Vista May 2023 BTO Project Worth Balloting for?

If you are willing to pay to live in a mature estate with lots of established amenities and good food options, the Serangoon North Vista May 2023 BTO project could be suitable for you.

Pros of Serangoon North Vista May 2023 HDB BTO Launch

  • In an in-demand mature estate with good amenities
  • Lots of good food options
  • Many sports facilities nearby

Cons of Serangoon North Vista May 2023 HDB BTO Launch

  • 5-room flats not available
  • Far from the nearest MRT station
If you want to stay in Serangoon but don’t want to have to wait for a BTO flat to be built, check out Serangoon HDB resale flats on PropertyGuru.

Applying for Serangoon North Vista May 2023 BTO Flats

Not sure if you should ballot for the Serangoon May 2023 BTO flats? You could either go for a Sale of Balance Flats (SBF) unit or read about the other May 2023 BTO projects before applying below:
Do take note that from the August 2023 BTO launch onwards, first-timer BTO applicants who secure a BTO ballot and do not choose a flat will be deemed second-timers for the next year. On their second BTO application, if they still do not select a flat, they won’t be able to apply for a BTO flat at all for one year.
For more property news, content and resources, check out PropertyGuru’s guides section.
Need help financing your latest property purchase? Let the mortgage experts at PropertyGuru Finance help you find the best deals.
Disclaimer: The information is provided for general information only. PropertyGuru Pte Ltd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More FAQs About HDB BTO Flats in Singapore

Check the HDB website for the launch announcement, and follow our guides for updates.

The average waiting time is around four to five years.

There are quite a number of steps to do so; if you're completely new to the process, we recommend you check out our guide to apply for an HDB BTO video on YouTube, and our BTO application articles on PropertyGuru Guides.