HDB BTO February 2024 review: Locations, expected application rates, prices, and more

Location, nearby amenities, purchase price, resale price, application rates, mature/non-mature estate, room types, heck, even the direction of the sun. There are a multitude of factors to consider when choosing your HDB Build-to-Order (BTO) flat.

It can be very overwhelming-especially after flat non-selection rules were tightened last year from the September 2023 BTO launch onwards. So this year for the 3 BTO sales exercises in 2024, we're determined to make things as easy for you as possible by summarising all you need to know in one place.

We review the HDB Feb 2024 BTO launch from A to Z, rating each BTO project (Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, and Woodlands) in terms of factors like location, prices and more. By the end of the article, we're confident you'll know which February 2024 BTO project is the best for you. Let's dive in!

PSA: If you're thinking of applying for a flat, you must apply for the HDB Flat Eligibility (HFE) letter first. If you're reading this and have not applied, you're unfortunately probably too late for the Feb 2024 BTO launch. But don't worry, you can still apply for the HFE letter for the next BTO launch in June.

1. What's on offer at the Feb 2024 BTO launch?

In February 2024, we're looking at seven projects in six locations: Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, and Woodlands. Of these, two (Bedok and Queenstown) are considered mature towns. Here's a summary of all the February 2024 HDB BTO flat types and number of units:

We review these BTO projects in terms of:

• Who it’s best for: Families with school-going kids, seniors, nature-lovers, and more.
• Location: Generally, we assume the more central the better. Most Singaporeans don’t like to live somewhere too ulu, and all of us need to go to town for catch-ups, work and more. We’ll also let you know if the towns are under the Prime Location Public Housing (PLH) model, because those come with a 10-year minimum occupancy period (MOP) and stricter rental conditions.
• Amenities: We look at the nearest MRT station(s), nearby schools, shopping malls, markets and other amenities. 
• Date of completion: The sooner it’s done, the better.
• Price: The lower the better. 
• Resale value: The higher the better. We reference the latest HDB resale statistics from Q4 2023; you can also check resale flat prices for individual units sold within the past two years using HDB’s Resale Flat Prices service.
• Application rate: The lower the better — there’s no point in a great flat that you can’t even get because it’s so oversubscribed. The application rate is calculated by taking the number of applicants divided by the number of flats available. Simply, it reflects the number of applicants vying for one unit. If the application rate is three, there are three applicants vying for one unit.

A note on sun direction: We can’t comment on how terribly a flat will be battered by the unrelenting rays of Singapore’s intense afternoon sun until after HDB releases detailed site plans. You can expect that east- and west-facing units will be at the sun’s mercy, while north- and south-facing flats will be the least affected by direct sunlight.

2. Bedok (Upper Changi Road) February 2024 HDB BTO review

Bedok (Upper Changi Road) February 2024 HDB BTO site:

Estimated prices and application rates are based on those for Bedok South Blossoms (May 2023 BTO project) and Chai Chee Green (Dec 2023 BTO project), where applicable.

Bedok is a mature estate, so it's no surprise that this first Bedok site is surrounded by schools, shopping amenities (e.g. Bedok Mall), recreational facilities (e.g. Bedok Stadium), and more. However, because it's a mature estate, you can also expect prices to sit higher than those for non-mature estates.

The Bedok BTO this Feb 2024 has schools in every direction you turn, making it an excellent choice if you have children or plan to have them. If you want to prioritise schools close to home, your kids are covered for primary school, secondary school, and beyond.

On the other hand, what about seniors? The elderly will benefit from the polyclinic and eldercare facilities at Heartbeat @ Bedok, which is located beside Bedok MRT. That is, however, a 15-20 minute walk, so those less able-bodied might find this inconvenient. 

As far as location goes, the site is great if you're looking for something that you can travel to the city quickly from. You'll only need 20 minutes by car if you drive, and around 30 minutes if you take public transport. 

Overall, the first site at Bedok is a great all-rounder for this Feb 2024 BTO sales exercise. Most people will find something or many things they like about it simply because the area is developed and doesn't look ulu. If you can afford the higher prices of a mature estate, aren't sworn Westie averse to moving East, and aren't looking for something very specific (e.g. you want your BTO to be near a water body and close to nature), you can consider applying for Bedok this Feb 2024 BTO.

3. Bedok (Bedok North St 3) February 2024 HDB BTO review

Bedok (Bedok North St 3) Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Bedok South Blossoms (May 2023 BTO project) and Chai Chee Green (Dec 2023 BTO project), where applicable.

The second BTO site in Bedok this Feb 2024 BTO exercise is located along Bedok North St 3, just beside Yu Neng Primary School, and right beside the PIE. With primary school kids next door and swathes of cars along the highway, you've got two sources of noise pollution already. If that's going to bother you, take note! We aren't expecting these sources to get quieter over the years either.

This second Bedok site for the Feb 2024 exercise is closer to an MRT station than the first — Bedok Reservoir MRT. It looks deceivingly close by, just opposite the BTO project, but do note that you'll have to go under Bedok Reservoir Flyover to reach it. It's not right next to your BTO; you can't walk from the MRT into your home, which is a dream scenario many of my friends aspiring to get a BTO describe.

Although you can still access Bedok Town Centre and its facilities from this second Bedok BTO site, they're more accessible from the first site. However, what this second site has is proximity to nature-cross under the PIE to access Bedok Town Park for some chill downtime. Stroll along Bedok Park Connector and access Bedok Reservoir. Paradoxically, while your home itself may be noisy with a primary school or highway next door, you're in a good position to enjoy the peaceful quiet of nature.

Between the first Bedok BTO site and the first, choose the first if you prefer to be close to a major shopping mall or town centre. Choose the second if you want to be closer to nature or are lazy to walk anywhere and want a home close to the MRT. Both are good options for sending your kids to nearby schools and for the speed at which you can get to town.

4. Choa Chu Kang Feb 2024 HDB BTO review

Choa Chu Kang Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Rail Green I @ CCK/ Rail Green II @ CCK (Oct 2023 BTO).

If a home integrated with green spaces is a priority for you, Choa Chu Kang is your best choice for this Feb 2024 BTO sales exercise. Sitting right beside the Rail Corridor and bordered by the Pang Sua Park Connector and Pang Sua Canal, you can call Pang Sua Woodland your backyard.

However, if accessibility is important to you, the Choa Chu Kang BTO project this Feb 2024 sales exercise is far from the best choice. Its nearest MRT station is Bukit Panjang MRT and is at least a 20-minute walk away. That and the fact that Choa Chu Kang is already a peripheral area of Singapore mean that it'll take you over an hour to get to town via public transport. On the plus side, this isn't really a problem if you drive — Kranji Expressway is located close by. However, given the distance to public transport, I wouldn't recommend this BTO project for seniors who might struggle to get around.

The Choa Chu Kang Feb 2024 BTO project is a parent's dream when it comes to schools. Take your pick from numerous primary schools (Teck Whye Primary School, West View Primary School, etc) and secondary schools (Choa Chu Kang Secondary School, West Spring Secondary School, etc). Beyond that, there's also Jurong Pioneer Junior College and ITE College West.

Overall, this BTO project will be beautifully integrated with nature and enjoys the proximity of many schools, but pays the price of being relatively inconvenient to travel to/from via public transport. Is that price worth it? That's a priority for you to decide — to each their own!

5. Hougang Feb 2024 HDB BTO review

Hougang Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Tanjong Tree Residences @ Hougang / Hougang Olive (Nov 2021 BTO) and Hougang Citrine/Kovan Wellspring (Aug 2021 BTO). These are the most recent BTO projects in Hougang, but do note that they were over two years ago and may not be representative of current rates or prices. BTO application rates have fallen and stabilised — overall first-timer rates were 1.9 in 2023 compared to 3.7 in 2019.

Not too long ago, I applied for a Hougang BTO myself. It was the Aug 2021 sales exercise, which saw two projects. One was right next to Kovan MRT (Kovan Wellspring), and the other I remember as being opposite the Singapore Girls' Home (Hougang Citrine). The latter is located very close to the current Feb 2024 Hougang BTO, so I'm somewhat familiar with the area.

The best thing about it is that it feels quite mature for a non-mature estate. While facilities in its immediate vicinity are still lacking (it's non-mature after all), the nearby Kovan area is an up-and-coming spot with its new cafes and shops. This BTO is quite centrally located without outright being under the PLH model — it's just 15 minutes to the city if you drive. While public transport options into town might be a bit sparse at the moment, you could very well have a direct bus into the city once the BTO is completed.

When it comes to nearby schools and amenities, the Hougang Feb 2024 BTO can't beat the Choa Chu Kang one. But it does have a popular school nearby — Paya Lebar Methodist Girls' Primary / Secondary School — and several others nearer the Kovan side.

Compared to the Choa Chu Kang BTO, the Hougang Feb 2024 BTO also isn't the best choice for nature lovers. However, it's certainly not a bad choice either. You can still spend evenings taking quiet strolls along Hougang Avenue 3 Park Connector. It's no Rail Corridor or Pang Sua Woodland, but for most of us, it'll do just fine.

On the whole, you should apply for the Hougang BTO this Feb 2024 sales exercise if centrality is a priority for you. This is about as close as you can get without it falling into the PLH model category, after which prices become higher and you're faced with more restrictions like a 10-year minimum occupancy period. 

6. Punggol Feb 2024 HDB BTO review

Punggol Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Punggol Point Crown / Punggol Point Cove (Sep 2019 BTO). These are the most recent BTO projects in Punggol, but do note that they were over four years ago and may not be representative of current rates or prices.

Like the Choa Chu Kang BTO this HDB BTO launch, the Punggol Feb 2024 BTO project is a great pick for nature-lovers. It sits right next to Punggol Reservoir and the Punggol Park Connector for easy access to green spaces. For a really immersive experience in nature, you can take a 10-minute drive to Coney Island. Those who drive will also like that Tampines Expressway is nearby, connecting you to the rest of the island seamlessly.

However, you might have a problem with accessibility if you don't drive. The nearest train station is Soo Teck LRT station, and I want you to take "nearest" with a pinch of salt — it's an almost 20-minute walk away. Soo Teck LRT is one stop from Punggol MRT, which (if you're up for it) you can also reach by taking an almost 30-minute walk.

Like many other BTO projects, there are lots of schools in the vicinity which makes the location great for families with kids. The nearest schools are Punggol Green Primary School and Yusof Ishak Secondary School, while further up North you'll find the future site of the Singapore Institute of Technology Campus.

Here's the thing about Punggol: It's still kinda ulu, but it's definitely up and coming. From now till the date your BTO is ready, the area could gain a lot more amenities and developments that will make your neighbourhood a lot more convenient for shopping and more.

For example, if you look at the map from HDB, you can expect a commercial development along Sumang Crescent — it looks to be a 5- to 10-minute walk away. There's also a 24-hour Sheng Siong supermarket already nestled in the adjacent Matilda Court HDB — not on HDB's map, but you can check it out on Google Maps.

Punggol is a great choice for this Feb 2024 BTO exercise if you prioritise a family-friendly location that's close to nature and removed from the hustle and bustle of the city. I mean, you can reach Coney Island in a fraction of the time it would take you to reach the city centre.

Because Punggol is on the periphery and is still up and coming, you can expect prices for this project to be lower than those for other non-mature ones too. On the other hand, the Punggol Feb 2024 BTO is not a good choice if you don't drive and would mind walking almost 20 minutes just to reach the nearest train station — which is an LRT station and not even an MRT one.

7. Queenstown Feb 2024 HDB BTO review

Queenstown Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Ulu Pandan Vista (Dec 2023 BTO), Tanglin Halt Cascadia (Oct 2023 BTO), and Ulu Pandan Glades (Feb 2023 BTO).

In stark contrast to the Punggol BTO project we just discussed, the Queenstown BTO this Feb 2024 launch is in a relatively very central location. It’s less than half an hour away from the city by car or public transport, thanks to it being just a five-minute walk from Commonwealth MRT station. It’s also just a 15-minute drive to Orchard Road. There’s no doubt it’s sitting in a prime location — literally.

Expect this BTO project to fall under the PLH model, which means a 10-year minimum occupancy period (MOP) before you can sell the flat and tighter rental restrictions — you can’t rent out the entire flat even after the MOP is up. If you can’t afford to wait that long to sell it or want to get a flat that you can rent out in its entirety, I suggest you stop reading this section right now and check out the other Feb 2024 BTO options instead.

The PLH model restrictions are designed in such a way that only people who want to stay in this house for at least the next decade will apply for it. People who want to buy it and flip it for a profit will be deterred by the 10-year MOP. Despite the great location, you’ll be surprised at how effective the PLH restrictions are at curbing demand that might otherwise be through the roof.

The most recent BTO projects in Queenstown, Ulu Pandan Vista (Dec 2023 BTO) and Tanglin Halt Cascadia (Oct 2023 BTO), saw first-timer application rates of 0.6 and 0.9 respectively. That means all first-timer families who applied for these projects were allocated a unit!

So if you’re okay with the PLH rules and can afford to service a larger housing loan, you might stand a good chance of securing a unit in Queenstown this Feb 2024 BTO based on application rates in the past year. The only catch? This time, there are only 250 units available compared to the 890 and 973 units in the most recent past two launches.

While most flats in mature estates already have a stable line-up of good amenities nearby, the Queenstown Feb 2024 BTO is a little different. That’s because it’s in the Tanglin Halt area, which is set to undergo redevelopment in the next few years to integrate flats with a hawker centre, market and polyclinic. Yup, the already fantastic location is getting a facelift. The value of this property will likely appreciate along with the area’s redevelopment.

Who should apply for the Queenstown Feb 2024 BTO? Its central location and proximity to the MRT and amenities makes it ideal for many groups.  Families with kids will like that there’s no shortage of schools nearby, from New Town Primary School to Anglo-Chinese Junior College.

Seniors will benefit from having practically everything they need within walking distance and have the option of applying for two-room Flexi flats if they want to downsize from their current housing — just note that prices are going to be higher here, even for smaller units. Perhaps the only groups that shouldn’t apply for this BTO are those who want to avoid a 10-year MOP, those who can’t afford the pricier units, and nature enthusiasts or the rare social recluses who might find Tanglin Halt a little too developed.

8. Woodlands Feb 2024 HDB BTO review

Woodlands Feb 2024 HDB BTO site:

Estimated prices and application rates are based on those for Woodlands Beacon/ Urban Rise @ Woodlands (Dec 2023 BTO).

The last time we had a BTO exercise in Woodlands, its four-room and five-room flats emerged as some of the most popular choices across all the towns. Why? What does ulu Woodlands have going for it? I often joke that if you live that high up in the ulu lands of the North, you can cross into another country faster than you can travel almost anywhere else in Singapore.

Ironically, this is now one of Woodlands’ strengths thanks to the development of the Johor Bahru-Singapore Rapid Transit System (RTS) Link. Slated for completion in 2026, this train link will take you from Woodlands to Johor seamlessly. The Singaporean terminus is the Woodlands North station on the Thomson–East Coast MRT line, which has also helped to better connect Woodlands with the city centre since its inception. Not so ulu now, huh?

That said, the Dec 2023 BTO projects in Woodlands were right next to Woodlands MRT station. This Woodlands BTO project in Feb 2024 is a good 20-minute walk away. While Woodlands as a general area has become less ulu, you may still feel removed from the rest of Singapore in this Feb 2024 Woodlands BTO.

On the plus side, that 20-minute walk will take you to Causeway Point and Woodlands Civic Centre, where you can get all your shopping done. Woodlands Sports Centre and Woodlands Community Club are nearby too. By way of schools, the Feb 2024 Woodlands BTO is situated near plenty of schools from the primary to JC level; Si Ling Primary School, Christ Church Secondary School, Yishun Innova Junior College, and Republic Polytechnic are some highlights. The school closest to this BTO is a niche on — Singapore Sports School.

Wondering if you should apply for this BTO? Its biggest pros are its proximity to the upcoming Johor Bahru–Singapore Rapid Transit System (RTS) Link and being a short (ish) walk to Causeway Point and plenty of schools. Its biggest con is that that walk is 20 minutes long which — let's face it — isn't short to most people. Also, competition is going to be tough for this Woodlands BTO if history repeats itself, although perhaps we can expect slightly more dampened demand due to its distance from the MRT. If you just want an affordable home to raise your kids and take weekend trips to JB, go for this Woodlands Feb 2024 BTO.

9. HDB BTO Feb 2024 review: Which is the best Feb 2024 BTO?

Everyone wants a quick and easy answer, but life is rarely that simple. So even though we've given you an overall rating out of five for each Feb 2024 BTO project, I encourage you to pay the least attention to that number. Instead, focus on what's the most important factor for you and put your own housing needs first.

Although we've done our best to include the most common factors to consider when applying for a BTO, the real decision-making happens when you prioritise your personal needs. For example, is your child an aspiring sportsman or sportswoman? The Woodlands BTO right next to the Singapore Sports School would be ideal. Or do your parents live in Hougang and do you want to be close to them? Then Hougang is the obvious choice for you even if others may say its amenities are too sparse.

If you’re still looking for a fast answer, I can at least offer these quick recommendations to orientate you:

• Closest to city centre: Queenstown
• Best for nature enthusiasts: Choa Chu Kang, Punggol
• Most affordable: Punggol, Hougang
• Closest to MRT: Queenstown, Bedok site 2 (Bedok North St 3) 
• Best for JB-trippers: Woodlands
• Most number of schools nearby: Queenstown, Woodlands
• Highest chances of getting a unit: Bedok, Choa Chu Kang (based on past application rates in the areas)
• Biggest units (5-room): Bedok, Punggol, Woodlands

The points above recommend BTO projects for various scenarios. On the other hand, there’s one scenario in which I would recommend against a particular BTO — the highest-rated one this Feb 2024 round, in fact. Do you intend to rent out your HDB flat in the future or want to sell it in less than 10 years? The Queenstown BTO is likely to fall under the PLH model and will be subject to restrictions that would ruin your plans.

10. When can I apply for Sale of Balance flats in 2024?

Sale of Balance flats (SBF) are units that weren't sold (hence "balance") from previous sale exercises. These flats are usually completed or near completion since they are from earlier BTO launches.

On Jan 8, 2024, HDB announced that they will only conduct 3 BTO exercises and 1 SBF exercise per year from 2024 onwards, now that BTO application rates have stabilised and aren't as crazy as they were during pandemic times. If you're interested in buying an SBF, listen up: The only SBF exercise this year is happening in Feb 2024. Here's what you can expect:

What if you want to try your hand at an SBF on top of a BTO? The answer is simple: You can't. If there happens to be a BTO exercise and an SBF one during the same sales launch, you have to choose which exercise you want to apply for. You can't choose both. 

11. What restrictions and penalties are there when choosing a BTO flat?

When you apply for a new flat, you have to choose one town and one flat type-for example, a four-room flat in Woodlands. You can't choose both a four-room and five-room in Woodlands (two flat types), nor a four-room in both Woodlands and Bedok (two towns).

If you get a queue number that gives you the opportunity to go down to HDB in Toa Payoh and choose a flat, you must choose a unit to avoid penalties. Should you not select a flat when your ballot number allows you to, HDB calls this a non-selection. This non-selection count is only waived if you have 10 or fewer BTO flats (or five or fewer SBF flats) to choose from.

Accumulating non-selection counts comes with the following penalties:

• If you're a first-timer and accumulate one non-selection count, you'll be considered a second-timer for one year in the computer ballot.
• If you're a second-timer and accumulate one non-selection count, you will be barred from selecting another flat for one year. 

I think of the first non-selection as something like a warning letter; it's almost like you were a model student in school (a first-timer) who got put on probation as a second-timer for the next one year. I'm using the words "warning" and "probation" because, at this point, you aren't barred from applying for a flat yet. In fact, you get to enjoy first-timer benefits if you apply with a first-timer, so your first-timer partner saves you from your penalty. 

If you get another non-selection count during your one-year "probation" as a second-timer, you get what to me is the real penalty — you won't be allowed to apply for another flat for the next one year.

You can't even get around it by applying with a first-timer this time. During the one-year wait-out period, you can't be the main applicant or an essential occupier in any application for subsidised housing — that includes resale flats with a CPF Housing Grant. In this second scenario, your partner has to wait out the one year with you, be they a first-timer or not. 

Our rating rubric for HDB BTO flat reviews

ALSO READ: Are Singapore property prices set to drop in 2024? Here's a 'surprising' prediction

This article was first published in MoneySmart.