May 2022 HDB BTO in-depth review: Yishun

If you didn’t manage to snag a flat in last February’s Yishun BTO, you might want to consider balloting for this year’s May 2022 Yishun HDB BTO. HDB launched a total of 5,330 BTO units in May, with Yishun making up 640 units. That’s around 12 per cent of units located in Yishun.

The name Yishun was derived from the Mandarin Chinese equivalent of Nee Soon. Lim Nee Soon, nicknamed “pineapple king” after his vast pineapple plantations, was a prominent banker and businessman in Singapore in the 1900s. He made his fortune from the rubber and pineapple plantations he had in the area.

Although the plantations are long gone, Yishun remains a vibrant neighbourhood with stunning parks and a bustling mall.

May 2022 Yishun BTO at a glance

 

May 2022 Yishun BTO indicative price range

HDB hasn’t released the price range yet. So for now, you can refer to SRX’s estimations based on nearby resale transactions and launch prices from recent BTO launches.

Flat type	Estimated price range
4-room	$290,000 to $390,000
5-room	$430,000 to $520,000

Source: SRX. These estimations take into account property age and location. Launches located nearer to an MRT or commercial development are likely to be more expensive.

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 Yishun BTO flat. These estimates are based on the following assumptions:

• An HDB loan is taken, maximising the 85 per cent loan-to-value (LTV) ratio.
• The loan tenure is 25 years, with the current interest rate of 2.6 per cent
• 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 per cent 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 per cent)	Minimum downpayment (15 per cent)	Estimated monthly instalment	Estimated monthly household income
4-room	$340,000	$289,000	$51,000	$1,311.10	$4,370.33
5-room	$475,000	$403,750	$71,250	$1,831.69	$6,105.63

May 2022 Yishun BTO: The pros

Accessibility

Yishun isn’t exactly the most accessible neighbourhood, but thanks to our amazing public transport system, it’s not a hassle to hop on a bus and get to the Yishun Bus Interchange in five minutes.

Yishun MRT station is the nearest train station. It’s a straight path that will take you on a 10-minute walk past Yishun Town Garden. From there, you can ride the North-South line directly to Orchard MRT, which is a 25-minute ride.

If you drive, you can get to the Seletar Expressway (SLE) via either Sembawang Road or Mandai Avenue. Both routes will take you about 10 minutes, depending on traffic conditions.

Food and retail amenities

Yishun Park Hawker Centre is a modern open-air food court beside Yishun Park, a 16-minute walk away. More than 40 food options are available for you to choose from, so you know you’ll never get bored of the food selection.

Nestled in the residential precinct of Neighbourhood 1 is Chong Pang Market and Food Centre, an eight-minute bus ride away. Until the opening of Northpoint City, it was the largest neighbourhood centre serving the residents of Yishun. Tap into the nostalgic heartland energy as you walk through the winding alleys of mom-and-pop stores selling everything from kitchenware to house plants.

Check out this video for a walking tour of Chong Pang Market!

Fun fact: Lim Chong Pang was the son of Lim Nee Soon, and just like his father, he was an enterprising businessman and ran a successful real estate business.

READ ALSO: May 2022 HDB BTO in-depth review: Bukit Merah

Schools

There are a few primary schools nearby, with Northland Primary being the nearest school within a 1km radius. Do note that as the site hasn’t been built yet, the following distances are just a rough estimate.

• Northland Primary School (800m)
• Huamin Primary School (1.1km)
• Jiemin Primary School (1.3km)
• Naval Base Primary School (1.3km)
• Peiying Primary School (1.3km)

Other schools for secondary and tertiary education include Naval Base Secondary School, Chung Cheng High School (Yishun) and Innova Junior College.

Healthcare facilities

Yishun Community Hospital and Khoo Teck Puat Hospital are part of the Yishun Health Campus so that patients can enjoy a seamless, integrated healthcare experience. Both hospitals are conveniently situated a one-minute walk away from the BTO site.

A fun fact about Khoo Teck Puat is that the building uses 30 per cent less energy than other older hospitals such as Tan Tock Seng Hospital and Changi General Hospital. Their environmentally-friendly features save them more than $1 million a year on utility costs.

Recreational facilities

Residents of Yishun have Northpoint City, the largest shopping mall in the North (it’s a whopping 500,000sqft!). After its massive expansion in 2017, it became the first mall in Singapore to have an Integrated Transport Hub with two underground linkways connecting the mall to Yishun MRT station. The expansion brings the total number of shops and restaurants to 500, so you can indulge in the all-time favourite Singapore past-time of shop till you drop.

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Get your groceries at Cold Storage, FairPrice or K-Market or head to the public library for a respite amongst the books, away from the hustle and bustle of the mall.

What makes it even sweeter is that it’s just a mere nine minutes away on foot, so you can save on Grabfood delivery.

Should you ever get sick of Northpoint City (what an inconceivable thought!), simply hop on one of the many buses along Yishun Ave 2 and take a 14-minute ride to Junction 9 or Wisteria Mall.

Night owls can head to Orto (eight-minute drive), a multi-recreational complex with 24-hour prawning and fishing ponds. There’s a wide range of restaurants where you can hang out and catch up with friends over boat noodles and beer while watching amateur anglers reel in their catch.

Katapult Trampoline Park is also located at Orto, where you can spend an enjoyable day out bouncing around the trampolines playing dodgeball and slam dunk with your kids.

Green parks and swimming complex

Residents are in luck because Yishun has no shortage of gorgeous green parks. Yishun Pond Park and Yishun Park are both 14 minutes away on foot.

Yishun Pond Park is well-loved by residents in Yishun as being one of the most beautiful parks in the vicinity to exercise at. Bird watchers and nature seekers often go there to catch a glimpse of the local wildlife, such as the cheeky otters and monitor lizards. Visitors can learn about flora and fauna from the information boards found around the pond.

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Alternatively, relax and enjoy the tranquillity of the water promenade while sitting on the many benches, or from the pond-side eateries such as Real Food vegetarian cafe, Slow Bakes bakery cafe and the calming Jing Si book cafe.

Take a two-minute walk away to Yishun Park, where you can find something for everyone. The jogging trail is under a dense canopy of trees, which gives a sense of trekking in a forest. As Yishun used to be a plantation, you can still find some fruit trees such as star fruit, jackfruit, rambutan or durian trees along the trail.

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Your little ones will be thrilled to explore the nature play garden made out of wooden logs.

Bring your furry friends to the dog park, where you can mingle with other 'pawrents' while watching your pets run around off-leash.

Yishun Swimming Complex is right opposite the BTO project site, with three different pools for kids, training and competitive swimmers.

May 2022 Yishun BTO: Where are the best stacks with the best views?

HDB hasn’t released the site plan yet, so in the meantime, let us take a look at the surrounding areas to figure out where you can enjoy the best views from your potential new home.

The two nearest residential blocks are located at the north-west (Block 767) and south-facing (Block 602 and 603) views. There’s a road separating the two blocks, and they’re both quite a distance away, so there are no worries about neighbours being able to look directly into your house.

Yishun Town Garden, situated on the north-facing side, will potentially give you the best view.

The HDB icon is where the new Yishun BTO will be.

Or, if you’re on a high enough floor, you might be able to enjoy the tranquil view of Yishun Pond from the north-east facing side, or wake up to the vast greenery of Yishun Park from the east-facing side.

What’s the potential price appreciation?

There has been a significant average psf price increase over the past five years of 26.31 per cent for four-room flats, and 30.21 per cent for five-room flats.

$1 million flat sold in Yishun

Last month in February, an executive flat in Yishun sold for an eye-watering price of $1.038 million. It is the first time a flat in Yishun has joined the million-dollar HDB club. The flat in question is Block 652, which is just an eight-minute walk away.

The last time a flat sold for over a million dollars in a non-mature estate was four years ago, in Hougang. Does this mean the prices of flats in non-mature estates are better poised to break the $1 million barrier?

The sale price psf of the million-dollar flat was $516, which, judging by the 29.18 per cent increase over the past five years, might very well be feasible for other non-mature contenders in Yishun.

May 2022 Yishun HDB BTO: Should you apply?

Despite Yishun’s sordid reputation, it’s a lovely neighbourhood to reside in, especially with the BTO’s close proximity to green spaces and the sprawling Northpoint City shopping mall.

As it is considered a non-mature estate, you might want to consider balloting for a unit as the application numbers will likely be lower compared to those in mature estates such as the Bukit Merah, Queenstown and Toa Payoh BTO exercises.

Alternatively, you can consider getting a property from the resale market. Newly MOP-ed projects include Yishun Riverwalk, Yishun Greenwalk, Acacia Breeze, Yishun Natura and Oleander Breeze.

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 per cent of the purchase price. If you’re taking a bank loan, the minimum downpayment will be 25 per cent.

Can I apply for two BTO at the same time?

No, you can only apply for one project during a sales exercise.

READ ALSO: Why we ditched that $1.6 million condo for a resale HDB flat instead

This article was first published in 99.co.