Why Tanglin Halt Courtyard is the gem of the February 2024 BTO exercise

The PLH project in Queenstown will offer 251 BTO flats.

Amongst the seven BTO projects which HDB will launch in its February 2024 exercise, experts believe that Tanglin Halt Courtyard in Queenstown will stand out.

Ismail Gafoor, CEO of PropNex, said the Tanglin Halt Courtyard is the "most compelling" of the seven projects.

The PLH project will offer 251 BTO flats across 2-room flexi and 4-room units.

"It is the smallest PLH project since the scheme started in November 2021. Given the smaller number of units, we expect the application rate for this latest PLH development to be healthy, helped also by the fact that applicants will be drawn to the range of facilities on-site, being an integrated project, as well as its proximity to the Commonwealth MRT station," Gafoor said.

Christine Sun, chief researcher and strategist at OrangeTee, also believes that the Tanglin Halt Courtyard will draw "healthy interest given its proximity to the city fringe."

"There is also a low supply of new flats in this area," Sun added.

Sun, however, underscored that there may be stiff competition for sellers in the future in Queenstown as the area has seen over 1,000 PLH model flats launched.

Another advantage of the Tanglin Halt Courtyard is it is one of the only two projects under the Feb 2024 exercise which is within walking distance of an MRT station, alongside the Bedok Reservoir BTO.

"The PLH project is very near to Commonwealth MRT station and a short walk to the rail corridor and one-north business park. The application rate for first timers for 4-room flats should be between 1 and 2," Lee Sze Teck, senior director for data analytics at Huttons, said.

Contrary to other forecasts, Lee said the project may not attract many applicants.

"The last PLH project, Tanglin Halt Cascadia had seen application rates of less than 1.0 probably due to the high price, restrictions on resale and distance from the city centre," Lee said.

Those who prefer mature estates but are not keen on getting flats at  Tanglin Halt Courtyard may consider Bedok South Bloom and Bedok North Springs. The projects comprise 528 and 433 flats, respectively.

Commenting on Bedok North Springs, Sun said: "Some couples may apply for a flat here as their parents could be staying in condos nearby, as many condos have been built along Bedok Reservoir Road and Tanah Merah. Moreover, this project offers 5-room flats, which will attract families looking for bigger flats."

The two Bedok BTOs are likely to see good interest, said Lee, adding that Bedok South Bloom may record an application rate for first-timers for 4-room flats of between one and three. 

"The last launch in the Bedok North area was Bedok North Vale in 2016. However, Bedok North Vale had only 2-room flexi and 3-room flats. Hence the larger room types like 4- and 5-room flats in Bedok North Springs should see good application rates," Lee said.

"Bedok South Bloom is a short bus ride from Bedok integrated transport hub and Bedok town centre. Couples planning to have children will find that Bedok Green Primary School is just downstairs," Lee added.