732 units of 3-room and 4-room units in Queenstown will be available for balloting in the February 2023 BTO sales exercise.
It’s also the second BTO project in Dover Forest, after the launch of the Ulu Pandan Banks BTO in the November 2022 BTO. If you didn’t get a queue number then, here’s your second chance.
Exploring the future of Queenstown living
The February 2023 BTO launch in Queenstown, specifically the Ulu Pandan Glades, represents a forward-thinking approach to urban living. Prospective homeowners are looking at a future where convenience and sustainability intersect.
With the government’s push towards a car-lite society, the development’s proximity to Dover MRT and the promise of sheltered linkways underscores a commitment to eco-friendly transportation options.
Moreover, the potential for price appreciation in this mature estate, coupled with upcoming developments like the Holland Village Extension and Dover Knowledge District, positions Ulu Pandan Glades as a nexus of growth and vibrancy. This aligns with the broader vision of Queenstown, which has historically been a trailblazer in public housing, to evolve into a district that balances heritage with modernity.
February 2023 Queenstown HDB BTO: At a glance
| Location | Along Commonwealth Avenue West and Ghim Moh Link |
| Classification | Mature estate |
| Flat types and number of units | 732 units of 3-room, 4-room |
| Price range for a 4-room flat | S$541k – S$711k |
| Estimated waiting time | 5 years 8 months |
| Estimated completion date/ Delivery possession date | Q2 2029/ 31 Dec 2030
|
| Nearest MRT | Dover MRT |
| Notable amenities | The Star Vista, Rochester Mall, Ghim Moh Market and Food Centre, Holland Village, Alexandra Hospital, NUH, NUS |
February 2023 Queenstown HDB BTO: Price range and estimated monthly instalments
Here’s the price range:
| Flat type | Price range |
| 3-room | S$372,000 – S$498,000 |
| 4-room | S$541,000 – S$711,000 |
Estimated downpayment, monthly instalments and income
Based on the price ranges, we can estimate the downpayment, monthly instalments and household income needed to pay for the February 2023 Queenstown BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken to maximise the 80% loan-to-value (LTV), given the latest cooling measures
- The loan tenure is 25 years, with a current interest rate of 2.6%
- A stress-test rate of 3% is used to calculate the Mortgage Servicing Ratio (MSR), which stipulates that up to 30% of your monthly household income can be used to pay the monthly instalments.
- There is no other housing loan to service
To illustrate, we’ll use the median of the price range and won’t be taking into account any CPF grants or savings to be used.
| Flat type | Median price | Loan amount (80%) | Min. downpayment (20%) | Estimated monthly instalment (with 2.6% interest rate) | Estimated monthly household income (with 3% stress test) |
| 3-room | S$435,000 | S$348,000 | S$87,000 | S$1,578.77 | S$5,500.87 |
| 4-room | S$626,000 | S$500,800 | S$125,200 | S$2,271.98 | S$7,916.17 |
Looking to take out a bank loan instead? Contact our mortgage broker to get the best rates.
What we noticed about the February 2023 Queenstown HDB BTO
*Disclaimer: Walking, public transport rides and driving durations are based on Google Maps estimates. Actual times may vary.
As we expected, the Ulu Pandan Glades BTO is a Prime Location Public Housing (PLH) project because of its proximity to Dover MRT. Plus, the site is next to the Ulu Pandan Banks BTO, a PLH project launched in the November 2022 BTO exercise. So they share the same amenities nearby (as well as the pros and cons).
Likewise, this project features sky terraces and roof gardens on both of its blocks.
Here’s where you want to ballot if you want those unblocked views of the landed housing estate across the Ulu Pandan Canal. At the same time, note that the waiting time for Ulu Pandan Glades BTO is 5 years and 8 months, which is the longest among the projects in this launch.
February 2023 Queenstown HDB BTO: The pros
Accessibility
This Queenstown BTO is one of the sites in this launch that’s closest to the MRT, with Dover MRT just around an eight-minute walk. You’re also just a stop from Buona Vista MRT, where you can switch to the Circle Line.
For drivers, the Ayer Rajah Expressway (AYE) is a couple of streets away, where you can connect to the Central Expressway (CTE) and Marina Coastal Expressway (MCE).
Do note that the Ulu Pandan area will be a car-lite precinct. The good thing about this is that there will be sheltered elevated linkways to Dover MRT (especially helpful when it’s sunny, and when it’s raining), walking and cycling paths (yay to not sharing the walkway with cyclists!).
But this also means parking spaces will be limited, with season parking reduced and restricted for residents only.
Food and retail amenities
We like that these amenities will be available within the Ulu Pandan precinct. As announced by HDB back in October 2022, there will be retail shops, eateries and a supermarket to cater to residents’ needs. This makes it even more convenient for you, as you can simply head downstairs to buy food when you don’t feel like cooking.
At the same time, you’ll have plenty of options if you want to venture further on foot (by further, we mean a 20-minute walk of this Queenstown BTO).
Affordable options include NTUC Fairprice and Sheng Shiong Supermarket (around a six-minute walk), as well as the Ghim Moh Market and Food Centre (a 10-minute walk).
More atas options are Star Vista (a nine-minute walk), Rochester Mall (a 13-minute walk) and Holland Village (around a 20-minute walk).
Schools
Here, you’ll also find that the area has lots of schools of various levels. It’s ideal not just for those with school-going kids, but also for adults pursuing post-grad and professional certificates (#lifelonglearning). Schools in the area include:
- Henry Park Primary
- Fairfield Methodist Primary and Secondary
- New Town Secondary
- School of Science and Technology
- Anglo-Chinese School (Independent)
- Anglo-Chinese JC
- Singapore Polytechnic
- NUS
- ESSEC Business School
- INSEAD
Plus, if you’re thinking of sending your kids to an international school, there are two of them in the area:
- Dover Court Preparatory School
- United World College of South East Asia
If we’re being picky, the not-so-good thing is that there’s only one primary school within 1km, which is Henry Park Primary.
For those planning to have kids, you’ll be glad to know that there will be a childcare centre within the project.
Healthcare facilities
This Queenstown BTO is around an eight-minute drive from two hospitals: Alexandra Hospital and National University Hospital (NUH).
According to the BTO map, there’s also a proposed health and medical centre next to the site, but currently, we don’t have many details about it.
February 2023 Queenstown HDB BTO: The cons
No 5-room flats (and flats here will potentially be smaller too)
If you’ve been following the BTO launches for the past few years like us, you would have noticed that there haven’t been 5-room flats launched in central locations such as Queenstown.
On top of that, with Ulu Pandan Glades being a PLH project, flats here will be smaller. For instance, a 4-room flat here will have a floor area of 89 sqm (958 sq ft), smaller than the typical 4-room BTO flat size of 93 sqm (1,001 sq ft).
If you’re looking for a 5-room BTO flat this time, the only option is the Tengah BTO.
Alternatively, you can always consider resale flats.
HDB flats for sale in Queenstown
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February 2023 Queenstown HDB BTO: What’s the potential price appreciation?
Over the past 10 years, 3-room and 4-room resale HDB flats in Queenstown have seen a price appreciation of 14.91%. Interestingly, this is lower than the 16.41% price increase for 3-room and 4-room flats across mature estates.
Nevertheless, the average price of flats in Queenstown has generally remained above the average flat price across mature estates.
As we examine the price appreciation for the respective flat types, we find that 4-room flats in Queenstown generally have appreciated faster at 16.80% in the last 10 years, three times the price increase for 3-room flats. The price gap has also widened over the years.
Here are the average resale prices so far this year, as of 6 Feb 2023:
| Flat type | Average price psf | Average price |
| 3-room | S$629 | S$442,585 |
| 4-room | S$827 | S$827,940 |
In fact, two 4-room units at Ghim Moh Edge, a BTO opposite this site, were sold above S$1 million last year, shortly after it hit the 5-year Minimum Occupation Period (MOP).
Plus, future developments in the area should support price growth. For instance, there’s the Holland Village Extension, where you can expect new retail and public spaces, and the upcoming One Holland Village integrated development.
In the south, there’s Dover Knowledge District, which is an extension of one-north. It’s set to offer vibrant spaces for work, academic and research institutions.
At the same time, it’s hard to say how much owners here can sell the flat in future. This is because this Queenstown BTO is a PLH project, so they come with restrictions such as the 10-year MOP and income ceiling for resale buyers to curb the lottery effect.
A community-centric approach to housing
Queenstown’s BTO offerings go beyond mere housing; they are about creating a community. The inclusion of amenities such as retail shops, eateries, and a supermarket within the Ulu Pandan precinct caters to the daily needs of residents, fostering a sense of community and belonging.
Educational institutions of repute in the vicinity make this location a hub for learning and development, appealing to families and lifelong learners alike. The thoughtful planning of healthcare facilities within reach adds another layer of comfort, ensuring that residents have access to medical care when needed.
This holistic approach to designing living spaces is reflective of a broader trend in urban planning – one that prioritizes the well-being and convenience of its inhabitants.
Will you apply for the February 2023 Queenstown HDB BTO? Let us know in the comments section below.
If you found this article helpful, check out our overview of the February 2023 BTO projects and in-depth reviews:
About Virginia Tanggono
Virginia covers the property news in Singapore, from record sales to profile stories on home ownership. In her free time, she occasionally searches for spoilers of movies and TV shows.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
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