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For the first time in years, BTO buyers get a real choice: coast, mature estate, or Singapore's smartest town. The November 2026 exercise puts 7,960 flats across seven projects up for sale (uchify.com, 2026).
Key takeaways
- The exercise offers 7,960 flats across seven projects, with Bayshore getting the largest single allocation (uchify.com, 2026).
- Bayshore Road (1,640 units) and Bayshore Walk (860 units) sit beside Bayshore MRT on the Thomson-East Coast Line (Housing & Development Board, 2026).
- Toa Payoh Rise (1,430 units) is the only mature-estate launch and is near Caldecott MRT, an interchange between the Circle Line and Thomson-East Coast Line (Housing & Development Board, 2026).
- Islandwide HDB resale prices average S$652 psf, exactly at their peak and 57.5% above the S$414 psf trough (PropAce Institutional Advisorydata, 2026).
- New-launch private homes cost about 44% more than resale, so a BTO remains the cheapest way into the ownership market (PropAce Institutional Advisorydata, 2026).
The November line-up: seven projects, one message
Location is the message. HDB has spread the 7,960 flats across seven projects, with the biggest clusters in the east and north (uchify.com, 2026). The confirmed line-up includes:
- Bayshore Road, Bedok – 1,640 units
- Bayshore Walk, Bedok – 860 units
- Toa Payoh Rise, Toa Payoh – 1,430 units
- Tengah Garden Avenue, Tengah – 710 units
- Sembawang Drive, Sembawang – 1,310 units
- Yishun Walk, Yishun – 1,580 units
These six confirmed projects account for the bulk of the exercise (Housing & Development Board, 2026). The remaining project will round out the total to 7,960 flats.
Bayshore: two projects, one coastline
Bayshore has waited years for this. The last BTO in the area came long ago. Now two projects — Bayshore Road and Bayshore Walk — will be launched together along the upcoming Bayshore MRT (TE29) and Bedok South MRT (TE30) on the Thomson-East Coast Line (Housing & Development Board, 2026). With a combined 2,500 units, this is the coast's biggest public housing injection in a long time. If you want sea air without a private condo price tag, this is the closest you will get in a BTO.
Caldecott: a mature-estate rarity
Toa Payoh Rise, with 1,430 units, is the only mature-estate launch in this exercise (Housing & Development Board, 2026). It sits near Caldecott MRT, an interchange between the Circle Line and Thomson-East Coast Line. That gives you two train lines, plus the Braddell Road corridor. In a town where new flats are scarce, this project will pull applicants who have the queue numbers to prove it.
Tengah: the smart town's next phase
Tengah Garden Avenue, at 710 units, is the smallest project in the launch (Housing & Development Board, 2026). It is near Plantation MRT on the Jurong Region Line. Tengah is already established as Singapore's first smart town, with centralised cooling and district-wide smart features. If you want a modern estate with a lower price quantum, this is the one to watch.
The data behind the launch: what the price indices say
Before you submit an application, look at the wider market. PropAce Institutional Advisorydata, drawn from URA caveat records, shows a market that has flattened at a high level.
| Indicator | 2026-Q2 | Change |
|---|---|---|
| Islandwide HDB resale psf | S$652 | 0.0% vs peak (S$652 psf) |
| HDB resale psf vs trough | +57.5% | vs S$414 psf |
| Islandwide private psf | S$2,038 | -6.8% vs peak (S$2,186 psf) |
| Private psf vs trough | +33.3% | vs S$1,529 psf |
| New-launch private average psf | S$2,304 | — |
| Resale private average psf | S$1,595 | — |
(PropAce Institutional Advisorydata, 2026)
The new-sale premium is about 44%, meaning you pay S$709 psf more for a new private home than a resale one (PropAce Institutional Advisorydata, 2026). That gap is the whole reason BTO exists as the entry point.
There is also a clear regional split in the private market. Prime-core (CCR) homes have averaged S$2,444 psf, city-fringe (RCR) S$2,078 psf and suburban (OCR) S$1,551 psf (PropAce Institutional Advisorydata, 2026). Most BTO projects sit in OCR territory, so the OCR private average of S$1,551 psf is your benchmark for what the private alternative in the suburbs will cost you.
What the indices mean for you
HDB resale is at a plateau, not a crash
Islandwide HDB resale prices are sitting exactly at their peak of S$652 psf, 57.5% above the S$414 psf trough (PropAce Institutional Advisorydata, 2026). The 0.0% change against the peak tells you the market has stopped climbing, not that it has rolled over. For BTO buyers, that is a useful baseline: if you cannot get a BTO, resale still costs as much as it ever did.
Private prices have cooled but remain far from the trough
Private prices, at S$2,038 psf, are 6.8% below their peak of S$2,186 psf but still 33.3% above the S$1,529 psf trough (PropAce Institutional Advisorydata, 2026). The gap between new and resale private homes — S$2,304 psf versus S$1,595 psf — is where the risk sits (PropAce Institutional Advisorydata, 2026). If you are considering a new launch, you are paying a 44% premium. A BTO takes that premium off the table entirely.
A worked example: S$652 psf in context
Let's make this concrete for you.
Take a typical four-room HDB flat of around 90 square metres — call it roughly 969 square feet. At the islandwide resale average of S$652 psf, that flat would cost roughly S$632,000 (PropAce Institutional Advisorydata, 2026). That is the resale benchmark you are comparing against.
Now look at the private side. Using a hypothetical 1,000 sq ft condominium, the islandwide private average of S$2,038 psf gives you about S$2.04 million (PropAce Institutional Advisorydata, 2026). At the new-launch average of S$2,304 psf, the same unit jumps to roughly S$2.30 million (PropAce Institutional Advisorydata, 2026).
The difference between the new launch and the resale condominium? About S$709 psf — or roughly S$709,000 on a 1,000 sq ft unit (PropAce Institutional Advisorydata, 2026). That is the size of the upgrade premium you are avoiding if you buy a BTO instead.
The precise BTO prices for November have not been released. But you can expect the Bayshore and Toa Payoh Rise projects to be priced at a premium to Tengah and Sembawang, reflecting their location. Use the S$652 psf figure as your reference: any BTO priced below that, on a per-square-foot basis, is a discount to the islandwide resale average.
Where the competition will be hottest
Bayshore: the coastal premium
Bayshore Road and Bayshore Walk are the biggest draw. Two projects at one MRT station means you have choices, but also many competitors. The area's proximity to the East Coast and the new Thomson-East Coast Line will likely push application rates high. If you are a first-timer, you have priority; if you are a second-timer or a single, you will need luck.
Toa Payoh Rise: the mature-estate squeeze
Toa Payoh Rise is the only central option, and it sits at an interchange. Mature estates have limited land, and the latent demand for homes near Caldecott MRT will show up in the application rates. Expect this to be one of the most oversubscribed projects in the exercise.
Tengah: the value play
Tengah Garden Avenue, at just 710 units, is smaller and likely to draw fewer applications, especially if you are flexible on location. For first-timers who do not need to stay in the east or central, Tengah is the rational choice: modern design, a new MRT line, and a lower entry price.
Who should apply where
- First-timer couples wanting the best location should aim at Bayshore or Toa Payoh Rise, but be prepared to lose the ballot.
- First-timers who value a quicker move should look at Tengah or Sembawang, where competition will be softer.
- Singles are largely limited to two-room flats. Yishun Walk and Sembawang Drive have larger overall tallies, giving you more units to ballot for.
The broader supply wave
This launch does not happen in a vacuum. An estimated 18,425 HDB flats could reach their Minimum Occupation Period in 2026, adding to the resale supply (Stacked Homes, 2026). That wave has already shown up in the resale market: prices fell 0.1% in the first quarter of 2026 and 0.3% in the second — the first two consecutive quarterly declines since 2019 (Stacked Homes, 2026).
More resale supply means BTO buyers have alternatives. If you miss out in November, you may find a recently MOP-ed flat in the resale market — but at prices that are still near the peak. The combination of a large BTO exercise and rising MOP supply could finally give buyers a stronger hand.
That is also why you should be selective. BTO prices are set against comparable resale transactions. In a market that has stopped rising, HDB pricing is likely to be conservative. Take a hard look at the location and your own timeline before committing.
FAQ
When is the November 2026 BTO sales exercise?
The November 2026 BTO exercise is scheduled to open for applications in November 2026, following the earlier announcement that the exercise would be moved from October to give buyers more time to review revised income ceilings (Housing & Development Board, 2026).
Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
Which projects are in the November 2026 BTO launch?
The confirmed projects include Bayshore Road, Bayshore Walk, Toa Payoh Rise, Tengah Garden Avenue, Sembawang Drive and Yishun Walk, with a total of 7,960 flats across seven projects (uchify.com, 2026). The full breakdown will be released when the sales brochure goes live.
Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
What will BTO prices be at Bayshore and Toa Payoh?
Official prices have not been released yet. As a reference, islandwide HDB resale flats average S$652 psf, and BTOs are typically priced with subsidies below comparable resale levels (PropAce Institutional Advisorydata, 2026). Expect Bayshore and Toa Payoh to be priced at a premium to Tengah and Sembawang.
Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
How does buying a BTO compare with buying a resale flat?
At the islandwide average of S$652 psf, a four-room resale flat works out to roughly S$632,000. A BTO in the same area is generally priced at a discount to that, though exact figures depend on the project and flat type (PropAce Institutional Advisorydata, 2026).
Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
Are first-timers and singles eligible for these BTO flats?
Yes. First-timers get priority under the BTO ballot system, and singles can apply for two-room flats under the Single Singapore Citizen (SSC) scheme. The exact eligibility and allocation quotas for each project will be detailed in the sales brochure at launch (Housing & Development Board, 2026).
Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
By the numbers
``` HDB PSF momentum by district — QoQ %
D? +8.1% ██████████████████████████ D? +7.2% ███████████████████████ D? +2.9% █████████ D? +2.7% █████████ D? +2.5% ████████ D? +2.4% ████████ D? +2.0% ██████ D? +1.3% ████ D? +1.0% ███ D? +0.8% ███ ```
| District | Median PSF | QoQ | YoY | Txns (3mo) |
|---|---|---|---|---|
| D? | $963 | ▲ 8.1% | ▲ 7.4% | 206 |
| D? | $831 | ▲ 7.2% | ▲ 7.5% | 240 |
| D? | $705 | ▲ 2.9% | ▲ 4.9% | 32 |
| D? | $598 | ▲ 2.7% | ▲ 1.4% | 224 |
| D? | $825 | ▲ 2.5% | ▲ 1.4% | 223 |
| D? | $641 | ▲ 2.4% | ▲ 2.4% | 357 |
| D? | $668 | ▲ 2.0% | ▲ 0.8% | 110 |
| D? | $534 | ▲ 1.3% | ▲ 0.4% | 276 |
| D? | $835 | ▲ 1.0% | ▲ 1.0% | 15 |
| D? | $766 | ▲ 0.8% | ▲ 4.9% | 122 |
_Data: PropAce Institutional Advisory analysis of URA/HDB transaction data — rolling 3-month average PSF, HDB, 2026-06..2026-08. Directional; confirm before acting._
Sources
- URA caveat data, compiled by PropAce Institutional Advisory— 2026-Q2.
- URA caveat data, compiled by PropAce Institutional Advisory.
References
- Uchify (2026) November 2026 BTO Launch Preview: 7,960 Flats Across 7 Projects, including Bayshore, Caldecott & Tengah.
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Frequently Asked Questions
When is the November 2026 BTO sales exercise?
The November 2026 BTO exercise is scheduled to open for applications in November 2026, following the earlier announcement that the exercise would be moved from October to give buyers more time to review revised income ceilings (Housing & Development Board, 2026). Statutory Source:** Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
Which projects are in the November 2026 BTO launch?
The confirmed projects include Bayshore Road, Bayshore Walk, Toa Payoh Rise, Tengah Garden Avenue, Sembawang Drive and Yishun Walk, with a total of 7,960 flats across seven projects (uchify.com, 2026). The full breakdown will be released when the sales brochure goes live. Statutory Source:** Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
What will BTO prices be at Bayshore and Toa Payoh?
Official prices have not been released yet. As a reference, islandwide HDB resale flats average S$652 psf, and BTOs are typically priced with subsidies below comparable resale levels (PropAce Institutional Advisorydata, 2026). Expect Bayshore and Toa Payoh to be priced at a premium to Tengah and Sembawang. Statutory Source:** Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
How does buying a BTO compare with buying a resale flat?
At the islandwide average of S$652 psf, a four-room resale flat works out to roughly S$632,000. A BTO in the same area is generally priced at a discount to that, though exact figures depend on the project and flat type (PropAce Institutional Advisorydata, 2026). Statutory Source:** Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
Are first-timers and singles eligible for these BTO flats?
Yes. First-timers get priority under the BTO ballot system, and singles can apply for two-room flats under the Single Singapore Citizen (SSC) scheme. The exact eligibility and allocation quotas for each project will be detailed in the sales brochure at launch (Housing & Development Board, 2026). Statutory Source:** Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines
Statutory References & Citations
- Housing & Development Board (HDB) (2026). Housing and Development Act (Cap. 129). Singapore: Ministry of National Development.
- Singapore Land Authority (SLA) (2026). Land Titles Act (Cap. 157) & Conveyancing Registration Framework. Singapore: SLA.
Statutory Disclaimer: This guide is published for strategic, educational, and institutional planning purposes only and does not constitute formal legal, taxation, or financial advice. All property transactions, stamp duty remissions, and financing structures should be formally verified with qualified Singapore legal counsel and certified tax advisors.