Queenstown will be adding another site in the upcoming February 2023 BTO Launch comprising an estimated 730 units 3-Room and 4-Room flats. The site is located at Commonwealth Avenue West, in between two MRT Stations, Dover (EW22) running on the East-West Line and Buona Vista (EW21/ CC22) running on the East-West Line/ Circle Line. Accessibility to other parts of the island is enhanced by the bus services available along Commonwealth Avenue West; and the Ayer Rajah Expressway (AYE) is a short drive away.
Exhibit: February 2023 BTO Queenstown Location Map
)))Based on SRX's pricing forecast, the table below compares affordability across the upcoming BTO launches.
Legend: Red means that income level may not be able to qualify for a mortgage per MAS 30% MSR Rule
| Queenstown (HDB 3 Rooms) |
Min: $360,000
Max: $500,000
|
||||||
| Your Household Income (A) |
Median BTO Price Forecast (B) |
Downpayment (10%) (C) = 10%(B) |
Enhanced CPF Housing Grant (EHG) (D) |
Housing Loan (Price - Downpayment - EHG) (E) = (B) - (C) - (D) |
Monthly Instalment (F) |
Your CPF OA Contribution (G) = 0.23 x (A) |
Monthly Cash Topup (Instalment - CPF OA) (H) = (F) - (G) |
|---|---|---|---|---|---|---|---|
| $5,000 | $430,000 | $43,000 | $45,000 | $342,000 | $1,552 | $1,150 | $402 |
| $5,500 | $430,000 | $43,000 | $40,000 | $347,000 | $1,574 | $1,265 | $309 |
| $6,000 | $430,000 | $43,000 | $35,000 | $352,000 | $1,597 | $1,380 | $217 |
| $6,500 | $430,000 | $43,000 | $30,000 | $357,000 | $1,620 | $1,495 | $125 |
| $7,000 | $430,000 | $43,000 | $25,000 | $362,000 | $1,642 | $1,610 | $32 |
| $7,500 | $430,000 | $43,000 | $20,000 | $367,000 | $1,665 | $1,725 | $0 |
| Queenstown (HDB 4 Rooms) |
Min: $550,000
Max: $725,000
|
||||||
| Your Household Income (A) |
Median BTO Price Forecast (B) |
Downpayment (10%) (C) = 10%(B) |
Enhanced CPF Housing Grant (EHG) (D) |
Housing Loan (Price - Downpayment - EHG) (E) = (B) - (C) - (D) |
Monthly Instalment (F) |
Your CPF OA Contribution (G) = 0.23 x (A) |
Monthly Cash Topup (Instalment - CPF OA) (H) = (F) - (G) |
|---|---|---|---|---|---|---|---|
| $8,500 | $637,500 | $63,750 | $10,000 | $563,750 | $2,558 | $1,955 | $603 |
| $9,000 | $637,500 | $63,750 | $5,000 | $568,750 | $2,580 | $2,070 | $510 |
| $9,500 | $637,500 | $63,750 | $0 | $573,750 | $2,603 | $2,185 | $418 |
| $10,000 | $637,500 | $63,750 | $0 | $573,750 | $2,603 | $2,300 | $303 |
| $10,500 | $637,500 | $63,750 | $0 | $573,750 | $2,603 | $2,415 | $188 |
| $11,000 | $637,500 | $63,750 | $0 | $573,750 | $2,603 | $2,530 | $73 |
| $11,500 | $637,500 | $63,750 | $0 | $573,750 | $2,603 | $2,645 | $0 |
The figures show you an estimate of the extra monthly cash instalments you have to fork out after CPF deduction. These estimates take into account the prevailing CPF OA contributions, Enhanced CPF Housing Grant (EHG) and loan interest rate.
Depending on your household income, a cash payment highlighted in red means that it may not be affordable for you to purchase that BTO.
Assumptions:
1. Buyers have sufficient savings for the 10% downpayment.
2. The monthly installment is based on the maximum tenure of 25 years at HDB concessionary interest rate of 2.6% p.a.
3. Buyers apply as a first-timer household under one of the eligibility schemes, and all buyers are Singapore citizens.
4. Buyers fulfil all eligibility criteria e.g. within income ceiling for flat intended, at least 21 years old, do not own other property overseas or locally.
Disclaimer: Calculations provided above for financing are for general reference only. StreetSine Singapore Pte Ltd accepts no liability whatsoever arising from any use of or reliance on the use of these tables.
| Option | Condition | Move-in | Eligible to Sell |
|---|---|---|---|
| BTO | New | 2-4 Years | 7-9 years (incl. 5 years lock-in) |
| HDB Resale | Older | Immediate | 5 years lock-in |
| Median BTO forecast | Median Resale Price |
|---|
Disclaimer: Calculations provided above are for general reference only. StreetSine Singapore Pte Ltd accepts no liability whatsoever arising from any use of or reliance on the use of these tables.
* Assumes first-timer Singaporean couple living near one of the parents. Refer to HDB's Housing Grant rules if your situation differs.
* Updated based on 2023 Budget wef 20 Feb 2017
Note: Total Debt Servicing Ratio (TDSR) cannot exceed 60% of your net income. Mortgage Servicing Ratio (MSR) cannot exceed 30% of your income. Calculations are done at 3.5% Interest Rate.
| Registration Date | HDB Model | Price | Location | Storey | Size | Built |
|---|---|---|---|---|---|---|
| Dec 22 | 4A | $792K | C'wealth Ave | 16-18 | 109 sqm | 1996 |
| Feb 22 | 4NG | $485K | C'wealth Ave West | 1-3 | 97 sqm | 1978 |
| Apr 22 | 4NG | $540K | C'wealth Ave West | 10-12 | 97 sqm | 1978 |
| May 22 | 4NG | $490K | C'wealth Ave West | 7-9 | 97 sqm | 1978 |
| Aug 22 | 4NG | $580K | C'wealth Ave West | 10-12 | 97 sqm | 1978 |
| Oct 22 | 4NG | $535K | C'wealth Ave West | 7-9 | 97 sqm | 1978 |
| Lease Date | HDB Model | Price | Location | Built |
|---|---|---|---|---|
| Feb 22 | 4RM | $3,100 | Clarence Lane | 1996 |
| Feb 22 | 4RM | $3,200 | Clarence Lane | 1996 |
| Mar 22 | 4RM | $3,000 | Clarence Lane | 1996 |
| Mar 22 | 4RM | $2,750 | Clarence Lane | 1996 |
| May 22 | 4RM | $2,300 | Clarence Lane | 1996 |
| Jun 22 | 4RM | $2,800 | Clarence Lane | 1996 |
| HDB Type | Year (purchase) | Year (purchase) | Total Change | Annual Change |
|---|
$960,000 HDB 4 Rooms
$768,000 HDB 5 Rooms
$425,000 HDB 3 Rooms
$920,000 HDB 5 Rooms
$3,500 HDB 3 Rooms
$1,100 HDB 3 Rooms
$5,500 HDB 5 Rooms
$3,750 HDB 3 Rooms
