Update as of 27 May 2022: This article has been updated with more information released during the May 2022 BTO launch.
May 2022 Queenstown BTO (Ghim Moh Ascent) at a glance
|Location||Along Ghim Moh Road|
|Number of units||867|
|Flat types||3-room and 4-room|
|Number of blocks||4|
|Estimated waiting time||5 years|
|Estimated completion date||Q1 2028|
|Nearest MRT||Buona Vista MRT|
|Notable amenities||Holland Village, The Star Vista, Ghim Moh Market and Food Centre, Holland Drive Market and Food Centre, one-north, NUH, Alexandra Hospital|
May 2022 Queenstown BTO (Ghim Moh Ascent) indicative price range
Here’s the price range and estimated floor area for Ghim Moh Ascent.
|Flat type||Estimated floor area (sqm)||Price range|
|3-room||66||S$369,000 – S$481,000|
|4-room||89||S$511,000 – S$691,000|
Estimated downpayment, monthly instalment and income
Based on these indicative price range, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2022 Queenstown BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken, maximising the 85% loan-to-value (LTV)
- The loan tenure is 25 years, with the current interest rate of 2.6%
- There is no other housing loan to service
Another thing is that for public housing, you can only use up to 30% of your monthly household income to service the home loan. This is called the Mortgage Servicing Ratio (MSR). By taking this into account, we can then find the estimated household monthly income needed for the flat.
|Flat type||Median price||Loan amount (85%)||Min. downpayment (15%)||Estimated monthly instalment||Estimated monthly household income|
What we noticed about the May 2022 Queenstown BTO (Ghim Moh Ascent)
This May 2022 Queenstown BTO will be within walking distance to Holland Village. But that’s not all!
Ghim Moh Ascent is also in the Core Central Region (CCR) and is near the good class bungalow (GCB) areas along Holland Road. So securing a flat here means that you get to live in the prime district at a subsidised price!
But what caught our eye when we first looked at the map of this BTO is that it’s near the highly anticipated Ulu Pandan BTO (around 1km away to be exact). As mentioned in our overview, the Ulu Pandan BTO was first announced in December 2020 and initially planned to be launched last year. The flats would be located on the eastern side of Ulu Pandan.
So besides this May 2022 BTO, there’s another upcoming BTO (we’re guessing it will be launched in November this year) to look forward to in Queenstown.
May 2022 Queenstown BTO (Ghim Moh Ascent): The Pros
This is another May 2022 BTO project within walking distance to the MRT. Buona Vista MRT will just be within a nine-minute walk from the Queenstown BTO. This also means that you have direct access to both the East-West Line and Circle Line.
And with one-north just one stop away, Ghim Moh Ascent will be conveniently located for those working there.
For those who drive, the Ayer Rajah Expressway (AYE) is just a couple of streets away from the BTO.
Food and retail amenities
When it comes to food and retail amenities, we like that there’s a lot of options here with a wide price range, from affordable to more atas options.
At the east of the Queenstown BTO, there’s Holland Village just around a 10- to 15-minute walking distance. Here you can find plenty of food and retail outlets, including famous dessert cafes like 2am:dessertbar and Sunday Folks.
Plus, there’s the upcoming One Holland Village, which is expected to rejuvenate the area. As a mixed-use development, it will comprise retail, communal and office space.
Another option is The Star Vista beside Buona Vista MRT.
And closer to home, you have two markets and hawker centres nearby. There’s the Ghim Moh Road Market and Food Centre at the west, and Holland Drive Market and Food Centre at the south-east. Both are around seven minutes away on foot.
This is another BTO in the May 2022 launch that makes for a good home for those with young kids. We like that there’s a lot of childcare centres within walking distance.
Some of these centres within a five-minute walk include The Little Skool-House at Ulu Pandan CC, PCS Ghim Moh and PCF Sparkletots at Ghim Moh Road.
Residents here will also have a childcare centre closer to home, with a new one to be located at the first floor of the multi-storey car park at Ghim Moh Ascent.
But what stands out to us is the availability of schools at various levels nearby this Queenstown BTO.
There’s the popular Henry Park Primary School within a 1km radius. Other primary schools nearby are in the 1km to 2km range, such as Fairfield Methodist Primary School and New Town Primary School.
Secondary and tertiary schools nearby include Fairfield Methodist Secondary School, Queensway Secondary School, Anglo-Chinese Junior College, Singapore Polytechnic and NUS.
On top of public schools, there are several international schools available here. This includes Anglo-Chinese School (International), Tanglin Trust School, United World College (Dover Campus) and Dover Court International School.
The nearest polyclinic is Queenstown Polyclinic at around a 15-minute bus ride away.
And just like the May 2022 Bukit Merah BTO project, there are two hospitals located close to Ghim Moh Ascent. National University Hospital (NUH) and Alexandra Hospital are both around a seven-minute drive.
Alexandra Hospital will also undergo expansion to better serve the needs of patients in the area, with the expansion expected to be ready in 2030.
Notably, the government announced last year that Queenstown will be the first Health District. What this means is that residents here can expect better design and community programmes to support their health and wellbeing. Examples of this include on-site health screenings and in the case of the last BTO launched in the estate — a jogging track to encourage active living.
For Ghim Moh Ascent, some of these facilities include playgrounds for children, fitness stations for adults and elderly, and a hardcourt.
The nearest public sports facilities, Queenstown Stadium and Swimming Complex, will be around a 20-minute bus ride away.
If you’re looking for green spaces, the closest one, One-North Park, is around a 20-minute walk. But if you’re looking to go to the bigger parks, Kent Ridge Park and Botanic Gardens are around 30 minutes away by bus.
May 2022 Queenstown BTO (Ghim Moh Ascent): The Cons
No 5-room flats
But just like the Bukit Merah BTO flats, our main gripe about this Queenstown BTO is that there are no 5-room flats available.
So even though there are several schools of various levels nearby, those who need more space (whether there’s a need for the kids to have their own space or there’s another kid on the way) may want to look elsewhere that offers 5-room flats, such as the Yishun BTO and Jurong West BTO.
Another alternative is to go for a resale flat.
HDB resale flats for sale in Queenstown
The May 2022 Queenstown BTO is another project that’s expected to be hotly contested. This is especially since the last BTO in the Ghim Moh area, Ghim Moh Edge, was launched nearly 10 years ago.
May 2022 Queenstown BTO (Ghim Moh Ascent): Where are the best stacks with the best views?
Now that HDB has released the site plan, we’re looking based on it, as well as the surrounding area, to figure out where you may be able to get the best views.
The surrounding area is mostly residential, with the plot at the south of this BTO currently empty. However, according to the HDB map, this plot is reserved for high-rise public housing. So you might want to avoid the south-facing stacks unless you’re okay with having a view of another BTO.
We think the best view would be at the north-east stacks facing the GCB areas along Holland Road, such as Holland Rise, Queen Astrid Park, Oei Tiong Ham Park and Ford Avenue. These include stacks 143, 145, 133, 115, 101, 103, 105 and 107.
May 2022 Queenstown BTO (Ghim Moh Ascent): What’s the potential price appreciation?
Over the last 10 years, 3-room and 4-room flats in Queenstown have seen a price increase by 18.79%.
So far the only BTO in the area is Ghim Moh Edge, which will end its Minimum Occupation Period (MOP) this year and can be resold on the resale market. As of writing, there’s a 3-room going for S$660,000.
So Ghim Moh Ascent will be the second BTO in the area. We expect these flats to have a high capital appreciation after MOP, especially since they will have the longest remaining lease among the resale flats here.
On top of that, upcoming developments such as One Holland Village should also help increase the property value here.
And given its proximity to one-north, there’s some rental opportunity here. If you’re looking for some passive income, you might want to rent out your room to those working there.
May 2022 Queenstown BTO (Ghim Moh Ascent): Should you apply?
Yes, if you’d like to live in the CCR, near the GCB areas.
Nevertheless, this BTO is ideal for those with kids. Not only are there a lot of childcare centres within walking distance, but the neighbourhood also has several educational institutions of all levels, from primary school all the way to the tertiary level.
And as mentioned earlier, there’s some rental potential here if you’re thinking of renting out a room after the MOP.
Will you apply for the May 2022 Queenstown BTO? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, check out our overview of the May 2022 BTO projects and in-depth reviews:
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Frequently asked questions
How many times can I ballot for BTO?
You can ballot as many times as you can, as long as you have not been invited to select a flat. If you reject a chance to select a flat, there may be some consequences.
How much is the downpayment for HDB?
If you’re taking an HDB loan, the minimum downpayment will be 15% of the purchase price. If you’re taking a bank loan, the minimum downpayment will be 25%.
Can I apply for 2 BTO at the same time?
No, you can only apply for one project during a sales exercise.
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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.
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