Compared to Tengah Town, Bukit Batok Mature Estate has become quite a popular choice for HDB buyers as there are many more facilities in the area. These include a nature park, a number of recreational areas, and farmways. There is also the fact that the area is well connected to public transport and the airport. It also offers more spacious and well-equipped houses.
Nature is a big part of Bukit Batok
Located in the Western region of Singapore, Bukit Batok is a quaint, peaceful estate. Its residents are well-served with modern amenities and a wide variety of green spaces. It is also one of Singapore’s oldest estates.
Bukit Batok was once home to pineapple and rubber plantations. In the mid-20th century, it became a main quarrying centre. It was redeveloped into a residential neighbourhood in the 1990s. Today, Bukit Batok is home to numerous parks, including Bukit Batok Nature Park, Bukit Batok Hillside Park and Bukit Batok Town Park.
Bukit Batok Nature Park is a great place to relax, jog, or enjoy a picnic. It features meandering footpaths and crystal clear waters. It is also home to local wildlife. It is an ideal place to take a break from the hustle and bustle of city life.
HDB BTO flats are affordable
Interested home-owners have the chance to apply for preferred HDB BTO flats during the balloting process. The balloting is a tough process. Applicants are given an additional ballot chance if they are unsuccessful. In some cases, applicants may have to wait for 4 to 5 years for their flats.
BTO flats are priced lower than resale flats. This is because new flats are heavily subsidised. The flats are priced according to individual flat attributes, such as floor area, orientation, accessibility to key transport nodes and location. The price of a flat may not be lower than its assessed market value.
However, the price of a flat in Tengah may not be the cheapest. The town centre will feature a car-free town centre, with parks, hike and bike trails, and smart technology. This may mean residents will have to pay for these in the future.
Non-mature estates are not as attractive as non-mature estates
Compared to mature estates, non-mature estates are not as attractive. But that doesn’t mean that the housing market is completely dead. In fact, many BTO projects are being launched in non-mature estates. And this could lead to more affordable flats for the average buyer.
The average resale price of a 3-room flat in a non-mature town rose 13.7% in 2021, compared to 9.5% in a mature town. And the average YOY growth rate for a 4-room flat was 12.4%, compared to 10.8% in a mature town.
Mature estates tend to be more centralised, with more MRT lines, and better amenities. In addition, mature estates are closer to the city and have better accessibility.
Non-mature estates, on the other hand, are generally further away from the city and have less amenities. In addition, they haven’t been developed very much. However, property experts have been putting in a lot of effort to promote these areas as desirable and affordable housing alternatives.
HDB resale prices are rising steadily
During the first nine months of 2022, HDB resale prices increased by 7.8 per cent. This is the fastest rate of annual growth since a 14.1 per cent rise in 2010.
In January 2022, preliminary sales data showed that 2,445 flats were sold. Despite the strong growth, prices are expected to drop in the near future. The government had announced cooling measures to curb the sale of HDB units to private property owners. These measures include higher interest rates for HDB and bank loans, and a 5% reduction in the Loan-to-Value (LTV) ratio.
In the past nine months, 277 HDB resale flats have changed hands for $1 million. This is the highest number of resale flats sold for million-dollar prices since December 2012. This is mainly due to hot money from private property downgraders.
Farmways in Tengah Town vs Bukit Batok Mature Estate
Compared to Bukit Batok Mature Estate, Tengah Town is a new town. It is located in the western region of Singapore. It is close to Jurong East and Choa Chu Kang. It is also near Bukit Batok, Brickland Road and Pan-Island Expressway.
It is expected to be a town with around 42,000 new homes. It has five unique housing districts. It will have parks and recreation facilities. It is also planned to be the first car-lite town in Singapore.
Its master plan is designed to make life in Tengah more enjoyable. Residents will have easy access to amenities through the use of public transportation, bicycles and a car-free town centre. They will also be able to enjoy a healthier lifestyle by planting and harvesting vegetables and fruits.