Update as of 27 May 2022: This article has been updated with information released during the May 2022 BTO launch.
Did you know Toa Payoh literally means “Big Swamp” in Hokkien, with “Toa” meaning big, and “Payoh” meaning swamp. After extensive redevelopment through the decades, it has become a bustling mature estate that many clamour to live in.
If you didn’t manage to snag a flat in last February’s Toa Payoh (Bidadari) BTO, you might want to consider balloting for this year’s May 2022 Toa Payoh HDB BTO for Kim Keat Heights.
Out of the total of 5,330 BTO units launched across the projects in May, there are only 385 units up for grabs in the Toa Payoh HDB BTO launch. That’s around 7.22% of units located Toa Payoh, making it the smallest out of the six projects, so be prepared for some fierce competition.
May 2022 Toa Payoh BTO at a glance
| Location | Along Lorong 6 and Lorong 7 Toa Payoh |
| Classification | Mature estate |
| Number of units | 385 (excluding 19 two-room rental flats) |
| Flat types | 120 units of 2-room Flexi, 100 units of 3-room and 162 units of 4-room (19 units of 2-room rental flats) |
| Number of blocks | 2 blocks ranging from 27 to 36 storeys |
| Estimated waiting time | 4 years 7 months |
| Estimated completion date | Q3 2027 |
| Nearest MRT | Braddell MRT (12-min walk) |
| Nearest bus interchange | Toa Payoh Bus Interchange |
| Notable amenities | Toa Payoh Mall, Toa Payoh South, East & Central Community Clubs, Kim Keat Palm Market & Food Centre, Toa Payoh Lorong 4 & 8 Market & Food Centre, Toa Payoh Lorong 5 Food Centre, Toa Payoh Polyclinic, Toa Payoh Public Library |
May 2022 Toa Payoh BTO indicative price range
Here are HDB’s latest prices for the various flat types in Kim Keat Heights.
| Flat type | Selling price (Excluding grants) | Selling price (Including grants) | Transacted prices of resale flats nearby | |
| Kim Keat Heights | 2-room Flexi | From S$162,000 | From S$82,000 | – |
| 3-room | S$289,000 – S$373,000 | From S$229,000 | – | |
| 4-room | S$420,000 – S$559,000 | From S$375,000 | S$618,888 – S$720,000 |
Estimated downpayment, monthly instalment and income
Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the May 2022 Toa Payoh BTO flat. These estimates are based on the following assumptions:
- An HDB loan is taken, maximising the 85% loan-to-value (LTV) ratio.
- The loan tenure is 25 years, with the current interest rate of 2.6%
- 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 and savings to be used. We’ll also be using a mortgage calculator to do the math.
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 |
|---|---|---|---|---|---|
| 3-room | S$331,000 | S$281,350 | S$49,650 | S$1,276.40 | S$4,254.67 |
| 4-room | S$489,500 | S$416,075 | S$73,425 | S$1,887.61 | S$6292.03 |
May 2022 Toa Payoh BTO: Flat sizes
| Flat type | Number of units | Estimated floor area (sqm) | Estimated internal floor area (sqm) | |
| Kim Keat Heights | 2-room Flexi | 34 | 38 | 36 |
| 86 | 48 | 46 | ||
| 3-room | 100 | 69 | 66 | |
| 4-room | 165 | 93 | 90 |
May 2022 Toa Payoh BTO: The Pros
Accessibility
The walk from Kim Keat Heights to Braddell MRT will take you about 12-minutes. From there, you can catch the MRT train to Raffles Place MRT in the CBD, which will be a 20-minute ride.
Those who drive can easily access the Pan Island Expressway (PIE) via Lorong 6 Toa Payoh, which is a mere two-minute drive away.
Food and retail amenities
Thanks to Toa Payoh being Singapore’s second-oldest satellite town (hence making it a mature estate), there’s an inexhaustible selection of amenities available to its residents. The housing estate was built to be self-contained, you don’t need to travel far to access groceries, retail, dining or entertainment options.
If you manage to snag a unit, be prepared to feast as you’ll be within walking distance of many hawker centres.
Take an eight-minute stroll to the recently revamped Kim Keat Palm Market & Food Centre. Nestled in the heart of Toa Payoh, the hawker centre serves up a plethora of delicious local cuisines at affordable prices.
Other hawker centres are Toa Payoh Lorong 4 Food Centre, Toa Payoh Lorong 5 Food Centre and Toa Payoh Lorong 8 Market & Food Centre. All three places are around eight to ten minutes away on foot.
Alternatively, hop on a bus and take a 10-minute ride to Toa Payoh Central to Toa Payoh Mall. There, you can find an entire network of amenities such as salons, restaurants, bakeries and the many bubble tea shops. We also checked out various places of interest in Toa Payoh.
To see what it’s like living near the Toa Payoh MRT station, watch this video!
Schools
If you’re a parent (or a parent-to-be), there’s First Toa Payoh Primary School, Kheng Cheng Primary School and Pei Chun Public School within a 1km radius. MOE Kindergarten @ First Toa Payoh is a seven-minute walk away, and is attached to an MOE Kindergarten. This means students from MK Kindergartens get priority when entering the affiliated primary school.
Other schools nearby include CHIJ (Primary) Toa Payoh, Beatty Secondary School, St. Gabriel’s Primary School, Marymount Convent School, CHIJ (Secondary) Toa Payoh and St Andrew’s Secondary School.
Healthcare facilities
The nearest polyclinic is NHGP Toa Payoh Polyclinic (10-minute walk).
As for hospitals, both Mount Alvernia and Tan Tock Seng hospital will be an eight to twelve minute drive away. Mount Alvernia’s new $25 million cancer centre was completed about a year ago to increase its capacity to treat up to 1,000 patients a year without the need for a wait list.
Recreational facilities
The nearest public sports facilities, Toa Payoh Swimming Complex is a quick nine-minute bus ride away. Right beside it is the ActiveSG Gym, Sports Hall and Stadium.
And of course, who can forget the beloved Dragon Playground. Built in 1979, this iconic symbol of heritage features a dragon head clad in terrazzo tiles and a body of colourfully-painted steel rings which children could slide or climb through.
The site evokes fond nostalgic memories when playgrounds used to have sand. It’s a 10-minute walk away and located opposite SAFRA Toa Payoh.
If green spaces are your thing, the nearest park is Toa Payoh Sensory Park. It’s a small park that’s sufficient for a light jog and workout, but if you desire a bigger space, take a 15-minute stroll to Toa Payoh Town Park. There, you can enjoy the many stone bridges and gazebos, or sit by the scenic pond and enjoy a peaceful picnic on your weekends.
Residents can look forward to a seamless walking and cycling route that connects Bishan, Toa Payoh and other towns along the Kallang River to the city centre.
May 2022 Toa Payoh BTO: The Cons
No 5-room flats
Similar to the Bukit Merah and Queenstown BTO flats, one main drawback about Kim Keat Heights is that there are no 5-room flats available.
Households with multiple children may find the space lacking, in which case they may want to look at the 2022 BTO launches in the non-mature estates of Yishun or Jurong West. Alternatively, taking the resale route is a valid option too. 
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Oversubscription
With only 380 units available, the May 2022 Toa Payoh BTO is another project that’s expected to be in incredibly high demand, especially due to its proximity to the CBD and popular schools and good amenities that stem from a well-developed mature estate.
From the past numbers, we can see that the 4-room flats are more popular, with demand being five times more than supply.
| Application rate | ||||||
| BTO launch | Room-type | No. of units | No. of applicants | Overall | First-timer | Second-timer |
| Bartley GreenRise | 3-room | 96 | 462 | 4.8 | 2.2 | 66 |
| Bartley GreenRise/ ParkEdge @ Bidadari/ Alkaff Breeze | 4-room | 797 | 4667 | 5.9 | 5.1 | 21.4 |
May 2022 Toa Payoh BTO: Where are the best stacks with the best views?
Let’s take a look at the surrounding areas to figure out where you can enjoy the best views from your potential new home in Kim Keat Ridge.
The surrounding areas are mostly residential. One good thing is that the west of the block is separated by a road, so the opposite blocks are quite a distance away. This offers a degree of privacy so you won’t have neighbours peering into your house.
We think the best views here would be from the higher floors at stacks 121, 123 and 125. From the units here, you might be able to get a view of the Kallang River and even the landed estate at Lorong Chuan.
The HDB icon is where Kim Keat Heights will be.
What’s the potential price appreciation?
Over the last 10 years, 3-room and 4-room flats in Toa Payoh have seen a healthy average psf price increase by 17.88%.
We think there’s definitely room for the price to increase further, especially since Toa Payoh hits the sweet spot of being a mature estate that’s close to the city centre.
At the time of writing, there are currently a handful of flats in Toa Payoh Crest that ended its Minimum Occupancy Period (MOP) in 2022. 
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May 2022 Toa Payoh BTO: Should you apply?
If you want to live near to the CBD and town while enjoying the plethora of amenities that a mature estate brings, definitely give Kim Keat Heights a shot. However, going by the previous application rates, expect to have slim chances of getting a unit – the number of units at Kim Keat Heights make up just 7% of all the units in the May 2022 BTO exercise.
3,598 people applied for 910 4-room flats for the November 2021 BTO, which means an application rate of 4. It has been steadily creeping up since, with 4,667 applicants over 797 units for the February 2021 Bidadari BTO launch, bringing the application rate to 5.9.
For Kim Keat Heights, the application rate is expected to be 7 to 8.
It’s also pretty ideal for those with a small family (or looking to start one), as the neighbourhood has many educational institutions of all levels, from primary school all the way to the tertiary level.
Given its close proximity to Orchard and Raffles Place, there’s definitely rental potential here. If you’re looking for passive income, you can consider renting out a room or your entire unit after the MOP.
Applications for the flats launched in the May 2022 BTO and SBF exercises can be done online on HDB InfoWEB from 27 May 2022 (Friday) to 2 June 2022 (Thursday). Applicants can apply for only one flat type/category in one town under either the BTO or SBF exercise.
Will you apply for the May 2022 Toa Payoh 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:
Looking for a property? Find the home of your dreams today on Singapore’s fastest-growing property portal 99.co! If you would like to estimate the potential value of your property, check out 99.co’s Property Value Tool for free. Also, don’t forget to join our Facebook community page or Telegram chat group! Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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.
About Jamie Wong
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.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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