Updated 24 October 2026 · Facts re-checked against HDB sources · RCS team
Berlayar Residences and Redhill Peaks are the two Prime BTO projects HDB launched in Bukit Merah in October 2025. Together they offer 1,901 flats. HDB's final count shows 5,521 applications for their 1,078 four-room flats. That works out to 3.1 times for first-timer families and 23.8 times for second-timer families.
This guide sets out what HDB has published on both projects. It covers units, prices, waiting times, Prime conditions and how subsidy recovery really works. It then turns to renovation planning for when you collect your keys.
Project Overview: Berlayar Residences vs Redhill Peaks
Both projects sit in Bukit Merah, and HDB classifies both as Prime. However, they differ in size, flat types and setting.
| Detail | Berlayar Residences | Redhill Peaks |
|---|---|---|
| Classification | Prime | Prime |
| Units for sale | 880 | 1,021 |
| Flat types | 2-room Flexi, 3-room, 4-room | 2-room Flexi, 4-room |
| Blocks | 4 blocks of 19 to 46 storeys (3 for sale, 1 rental) | 3 towers of 40 to 49 storeys |
| Nearest MRT (per HDB) | Telok Blangah and Labrador Park | Redhill (East-West Line) |
| Estimated waiting time | 56 months | 53 months |
| Subsidy recovery | 14% | 12% |
Sources: HDB October 2025 supply and pricing table (Annex A), HDB sales brochures for Berlayar Residences and Redhill Peaks, and subsidy recovery rates from HDB's October 2025 launch release (Table 2).
Berlayar Residences: Singapore's First Greater Southern Waterfront BTO
Berlayar Residences is the first BTO project in the new Berlayar estate. HDB places the estate on the former Keppel Club site. HDB also says the estate marks the start of the Greater Southern Waterfront transformation.
- Location: Former Keppel Club site, Bukit Merah
- Units for sale: 880 flats in 3 blocks, plus 1 block of rental flats
- Storeys: 19 to 46
- Flat mix: 326 two-room Flexi, 86 three-room and 468 four-room flats
- Estimated waiting time: 56 months, measured to the median projected completion of the blocks
- Subsidy recovery: 14%, the highest of the October 2025 projects (HDB)
The HDB brochure lists a preschool, fitness corners, nature-themed playgrounds and a roof garden above the car park. It also lists sky gardens on 2 blocks and sky terraces on the 20th and 37th storeys of Blocks 206A and 208A. HDB states that these facilities will be open to the public.
Official HDB project page: Berlayar Residences October 2025 Launch
Redhill Peaks: Heart of Mature Bukit Merah Township
Redhill Peaks sits inside an established estate rather than a new precinct. HDB describes it as bounded by Redhill Close and Jalan Bukit Merah, near Redhill MRT Station.
- Units for sale: 1,021 flats in 3 towers of 40 to 49 storeys
- Flat mix: 411 two-room Flexi and 610 four-room flats
- Estimated waiting time: 53 months
- Subsidy recovery: 12% (HDB)
- Facilities (HDB brochure): adult fitness station, playground, hardcourt, precinct pavilion, roof garden with running track and community garden, and a preschool
- Schools on HDB's site map: Gan Eng Seng Primary, Radin Mas Primary and Bukit Merah Secondary
The lower recovery rate matters at resale. On a $1,000,000 sale, 12% means paying back $120,000 to HDB, against $140,000 at 14%.
Track completion updates: HDB BTO Completion Date Tracker 2025-2026
Learn more: Bukit Merah BTO Feb 2026 Guide
Historic Subsidy Clawback Rates Explained
Berlayar's 14% subsidy recovery rate is the highest in the October 2025 exercise. Redhill Peaks and Mount Pleasant Crest carry 12%, Bishan Terraces 10%, and Oak Ville @ AMK 7% (HDB, Table 2). HDB sets this percentage for each project at launch.
What is Subsidy Clawback?
Subsidy clawback, which HDB calls subsidy recovery, is the share of the sale value that a Prime or Plus owner returns to HDB. HDB prices these flats with extra subsidies. Therefore, owners who sell a flat bought from HDB must pay part of that subsidy back.
HDB applies the percentage to the higher of the resale price or the flat's valuation. It does not apply it to your profit. HDB also says the percentage is commensurate with the extent of the additional subsidy. The recovery is payable on top of any resale levy.
Two exemptions apply, according to HDB. Resale Plus and Prime flats are not subject to subsidy recovery. Neither are 2-room Flexi flats sold on short leases.
Official HDB conditions: HDB Conditions After Buying a Flat
How Subsidy Clawback Works
The examples below use HDB's rule: recovery equals the percentage times the resale price. The sale prices are illustrative, not forecasts.
Berlayar Residences (14%):
- Purchase a 4-room flat at the top of HDB's range: $788,000
- Sell after the 10-year MOP: $1,000,000
- Gross gain: $212,000
- Paid back to HDB: $1,000,000 × 14% = $140,000
- Net gain after recovery: $72,000
Redhill Peaks (12%):
- Purchase a 4-room flat: $710,000 (within HDB's $541,000 to $778,000 range)
- Sell after the 10-year MOP: $900,000
- Gross gain: $190,000
- Paid back to HDB: $900,000 × 12% = $108,000
- Net gain after recovery: $82,000
Notably, the recovery scales with the sale price, not the gain. A seller who barely breaks even still pays the full percentage. That makes the holding period and price growth decisive for Prime flat owners.
Why Berlayar Has the Highest Clawback Rate Ever
HDB states that each project's recovery percentage is commensurate with the extra subsidy it receives. A higher rate therefore signals a larger subsidy relative to the flat's market value. HDB has not published a project-by-project breakdown of that subsidy.
Related reading: BTO vs Resale: Which is Better Investment 2025
Application Rates & Competition Analysis
HDB reports some application rates for the two projects combined. The figures below are HDB's final rates, as at 11.59pm on 22 October 2025.
| Flat type | Units | Applications | First-timer families | Second-timer families | Seniors | First-timer singles |
|---|---|---|---|---|---|---|
| 2-room Flexi (both projects) | 737 | 2,927 | 0.1x | 0.3x | 2.7x | 7.4x |
| 3-room (Berlayar only) | 86 | 442 | 1.9x | 37.1x | – | – |
| 4-room (both projects) | 1,078 | 5,521 | 3.1x | 23.8x | – | – |
Source: HDB Flat Supply and Applications Received, October 2025. HDB does not publish separate 2-room Flexi or 4-room rates for each project.
What These Numbers Mean for Applicants
A rate of 3.1 times means about 1 flat for every 3 first-timer family applications. For second-timer families, 23.8 times means roughly 1 flat per 24 applications. In contrast, 2-room Flexi demand came mainly from seniors and first-timer singles.
These ratios describe one exercise only. Your own odds also depend on priority schemes and the ballot.
Location Analysis: Connectivity & Amenities
The two projects suit different routines. Berlayar sits by the coast and nature parks. Redhill Peaks sits beside an established MRT station and markets.
Berlayar Residences Location
- MRT: Telok Blangah and Labrador Park stations on the Circle Line, as named by HDB
- Nearby: VivoCity, HarbourFront, Mount Faber Park, Labrador Nature Reserve and the Southern Ridges
- Estate setting: the first BTO in a new estate, so many amenities will arrive in later phases
Redhill Peaks Location
- MRT: Redhill Station on the East-West Line, as named by HDB
- Nearby: Redhill Market and Food Centre, Bukit Merah View Market and Alexandra Village Food Centre
- Schools on HDB's site map: Gan Eng Seng Primary, Radin Mas Primary and Bukit Merah Secondary
Travel times and school distances vary by block and stack. Check them on the HDB site map for your chosen unit.
Pricing Breakdown & Affordability
HDB's indicative prices exclude grants. Floor areas include the air-con ledge, with the internal area in brackets.
Berlayar Residences Pricing (October 2025)
| Flat type | Floor area | Units | Indicative price (excl. grants) |
|---|---|---|---|
| 2-room Flexi (Type 1) | 40 sqm (38) | 86 | $218,000 - $306,000 |
| 2-room Flexi (Type 2) | 48 sqm (46) | 240 | $267,000 - $369,000 |
| 3-room | 67 sqm (64) | 86 | $420,000 - $562,000 |
| 4-room | 90 sqm (86) | 468 | $578,000 - $788,000 |
Buyers aged 55 and above can choose a 2-room Flexi lease of 15 to 45 years. On a 45-year lease, HDB lists $131,000 to $184,000 for Type 1 and $160,000 to $221,000 for Type 2.
Compare: 3 Rooms BTO Price 2026 Guide
Redhill Peaks Pricing (October 2025)
| Flat type | Floor area | Units | Indicative price (excl. grants) |
|---|---|---|---|
| 2-room Flexi (Type 1) | 40 sqm (38) | 78 | $183,000 - $283,000 |
| 2-room Flexi (Type 2) | 49 sqm (46) | 333 | $229,000 - $359,000 |
| 4-room | 90 sqm (86) | 610 | $541,000 - $778,000 |
On a 45-year 2-room Flexi lease, HDB lists $110,000 to $169,000 for Type 1 and $137,000 to $215,000 for Type 2.
For financing, three HDB rules shape your monthly payment:
- HDB loans cover up to 75% of the price, after HDB cut the limit from 80% on 20 August 2024 (HDB).
- Eligible first-timer families can receive an Enhanced CPF Housing Grant of up to $120,000 (MND). The amount falls as household income rises.
- HDB raised the family income ceiling for new flats with grants from $14,000 to $16,000, announced on 22 August 2026 (HDB).
Your grant amount depends on your income, so use HDB's own calculator before you apply.
Pricing Comparison: Prime BTO in the October 2025 Exercise
| Project | Classification | 4-room price (excl. grants) | Waiting time |
|---|---|---|---|
| Berlayar Residences | Prime | $578,000 - $788,000 | 56 months |
| Redhill Peaks | Prime | $541,000 - $778,000 | 53 months |
| Mount Pleasant Crest | Prime | $558,000 - $787,000 | 59 months |
Source: HDB October 2025 BTO supply and pricing table (Annex A).
Official HDB pricing information: HDB October 2025 BTO Flat Prices
Unit Mix & Block Configuration
HDB's brochures give the block count, heights and facilities. They do not assign views or flat types to each block in a way buyers can rely on before selection.
Berlayar Residences Block Layout
- 4 residential blocks of 19 to 46 storeys
- 3 blocks hold the 880 flats for sale; the fourth holds rental flats
- Sky terraces on the 20th and 37th storeys of Blocks 206A and 208A
- Full-height windows with railings, three-quarter-height windows and air-con ledges, as described by HDB
Redhill Peaks Block Layout
- 3 towers of 40 to 49 storeys
- 1,021 flats: 411 two-room Flexi and 610 four-room
- Roof garden above the car park, with a running track, fitness stations and a community garden
Check each stack's orientation and outlook on HDB's site plan during flat selection.
Renovation considerations: After key collection, plan your budget using the HDB BTO Renovation Budget 2025 Guide
Resale Value Potential & Capital Appreciation
No one can verify future prices. The projections below are illustrative and assume steady annual growth. They exist to show how subsidy recovery changes the outcome.
Prime BTO Resale Precedent Analysis
No Prime or Plus flat has reached its 10-year MOP yet. So no resale record with subsidy recovery exists.
Older flats in central locations, such as Dawson @ Queenstown and Pinnacle@Duxton, were sold before the Prime and Plus models existed. Their owners pay no subsidy recovery. As a result, their resale gains are not a guide to Prime flat returns.
Berlayar Residences 10-Year Projection
Each scenario starts from $788,000 and applies 10 years of growth. The 14% recovery comes off the sale price.
| Scenario | Sale price | Gross gain | Paid back (14% of sale) | Net gain | Net annual return |
|---|---|---|---|---|---|
| Conservative (5% a year) | $1,283,569 | $495,569 | $179,700 | $315,869 | 3.4% |
| Moderate (7% a year) | $1,550,115 | $762,115 | $217,016 | $545,099 | 5.4% |
| Optimistic (9% a year) | $1,865,483 | $1,077,483 | $261,168 | $816,315 | 7.4% |
For Redhill Peaks, the same three rates on a $710,000 flat give net gains of $307,733, $519,076 and $769,129 after the 12% recovery. Those equal net annual returns of 3.7%, 5.6% and 7.6%.
Keep the timing in mind. The 10-year MOP starts when you collect your keys, not when you book. You therefore cannot sell until about 14 to 15 years after the October 2025 launch.
Factors Supporting Higher Appreciation
- Greater Southern Waterfront: HDB describes Berlayar as the start of the waterfront's transformation.
- Central location: both projects sit in Bukit Merah, a mature estate close to the city.
- MRT access: HDB names Telok Blangah, Labrador Park and Redhill stations nearby.
[Opinion] These factors support demand, but they do not guarantee price growth.
Resale Restriction Considerations
- 10-year MOP for new and resale Plus and Prime flats, according to HDB
- Income ceiling for resale buyers: HDB's revised ceiling for resale Plus and Prime flats is $16,000 for families (HDB)
- Restricted buyer pool: the ceiling narrows the pool of eligible resale buyers
Related: NRP Singapore: Bukit Merah Neighbourhood Upgrades 2025-2029
Prime Classification: Restrictions You Must Know
HDB attaches tighter conditions to Prime flats than to Standard flats. The key ones are below.
Ownership Restrictions
- Minimum Occupation Period: 10 years, against 5 years for Standard flats
- No whole-flat rental: HDB states that owners of Plus and Prime flats are not allowed to rent out the whole flat
- Bedroom rental: owners of 3-room or larger flats may rent out spare bedrooms after getting HDB approval
Official HDB rules: HDB Conditions After Buying a Flat
Financial Restrictions
1. Subsidy recovery formula
Recovery = higher of resale price or HDB valuation × recovery percentage
- Calculated on the resale price or valuation, not on your profit
- Applies only when you sell a flat you bought from HDB; resale Plus and Prime flats are exempt
- HDB sets the percentage when the project launches
- Payable in addition to any resale levy
2. CPF housing grants
Eligible first-timer families can receive an Enhanced CPF Housing Grant of up to $120,000. The maximum applies to households earning $1,500 or less a month. Higher incomes receive smaller amounts (MND).
3. HDB loan limits
- Maximum loan-to-value of 75%, in force since 20 August 2024 (HDB)
- Check HDB's current income ceiling before you rely on an HDB loan
Renovation Restrictions
After you collect your keys, all works must follow HDB renovation guidelines:
- Engage only contractors listed in the HDB Directory of Renovation Contractors
- Never hack structural walls
- Leave the household shelter intact
- Use BCA-approved contractors for window works
Budget planning: Start early with the BTO Renovation Singapore 2025 Guide
Who Should (And Shouldn't) Buy These Flats
[Opinion] The 10-year MOP and the rental ban decide fit more than the price does.
Ideal Buyer Profiles for Berlayar Residences
Strong candidates:
- Couples who plan to live in the flat for well over 10 years
- Buyers who value coast and nature access, such as Labrador Nature Reserve
- Households comfortable with a new estate that will grow amenities over time
Less suitable for:
- Buyers who may relocate within 10 years of key collection
- Buyers who want whole-flat rental income
- Buyers who plan to sell soon after the MOP
Ideal Buyer Profiles for Redhill Peaks
Strong candidates:
- Families who want an established estate with markets and schools nearby
- Car-lite households who rely on Redhill MRT
- Seniors and singles looking at the 411 two-room Flexi flats
Less suitable for:
- Buyers who want a waterfront or new-estate setting
- Buyers who need whole-flat rental income
Decision Framework: Berlayar vs Redhill
| Factor | Berlayar Residences | Redhill Peaks |
|---|---|---|
| 4-room price (excl. grants) | $578,000 - $788,000 | $541,000 - $778,000 |
| Subsidy recovery | 14% of resale price | 12% of resale price |
| MOP | 10 years | 10 years |
| Whole-flat rental | Not allowed | Not allowed |
| Waiting time | 56 months | 53 months |
| MRT (per HDB) | Telok Blangah, Labrador Park | Redhill |
| Estate | New estate | Established estate |
| Illustrative 10-year net gain | $315,869 - $816,315 | $307,733 - $769,129 |
For renovation planning after securing your flat, explore:
- 3-Room BTO Renovation Packages Singapore
- HDB BTO Renovation Contractors 2025 Guide
- BTO Kitchen Renovation Under $8000
Frequently Asked Questions
1. Is Berlayar Residences worth the 14% subsidy clawback?
It depends on how long you hold the flat and how fast prices grow. The 14% comes off the full sale price, not your profit. On a $1,000,000 sale, you return $140,000 to HDB. Under illustrative 5% to 9% yearly growth, net gains range from $315,869 to $816,315. Selling soon after the MOP leaves the least room to absorb the recovery.
2. Can I rent out my Prime BTO flat for passive income?
No, not the whole flat. HDB states that owners of Plus and Prime flats are not allowed to rent out the whole flat. Owners of 3-room or larger flats may rent out spare bedrooms with HDB approval. See HDB's conditions after buying.
3. What is the realistic waiting time for Berlayar and Redhill Peaks?
HDB estimates 56 months for Berlayar Residences and 53 months for Redhill Peaks. HDB measures this to the median projected completion month of each project's blocks. Counting from the October 2025 launch, that points to about mid-2030 and early 2030. That is our arithmetic, not an HDB date. Track progress with our HDB BTO Completion Date Tracker.
4. How does Bukit Merah compare to Mount Pleasant Crest?
Mount Pleasant Crest, launched in the same exercise, is also a Prime project. HDB priced its 4-room flats at $558,000 to $787,000, with a 59-month waiting time (HDB). Its subsidy recovery rate is 12%, the same as Redhill Peaks (HDB). Berlayar's 4-room flats run $578,000 to $788,000 and Redhill's $541,000 to $778,000.
Learn more: Mount Pleasant Crest BTO Guide
5. What renovation budget should I prepare after collecting keys?
Start from what HDB hands over, then add what you need. RCS move-in BTO packages start from $7,390 for a 4-room flat. Compare full options on our 4-Room BTO Renovation Packages page. All works must be done by HDB-registered contractors.
6. Can I cancel my Prime BTO application if I change my mind?
Yes, but cancelling after you book a flat carries financial penalties and can affect future applications. HDB sets out the exact terms at each stage. Read HDB's booking and Agreement for Lease terms before you book.
7. Are these Prime flats a better investment than resale flats?
They trade differently. A Prime BTO costs less upfront but brings a 10-year MOP, a whole-flat rental ban and subsidy recovery on sale. A resale flat in Bukit Merah lets you move in sooner. Buying a resale Prime flat avoids subsidy recovery, according to HDB. However, it still carries the 10-year MOP and the rental ban.
Related: BTO vs Resale Renovation Cost Comparison
Final Verdict: Are Berlayar Residences and Redhill Peaks Worth It?
Berlayar Residences: Worth It If...
- You plan to live there well beyond the 10-year MOP
- You value the coast, nature parks and the waterfront's future
- You accept no whole-flat rental for the life of the lease
- You understand that 14% of the sale price goes back to HDB
Redhill Peaks: Worth It If...
- You want an established estate beside Redhill MRT
- You prefer a lower 12% recovery rate and a shorter 53-month wait
- You accept the same MOP and rental limits as Berlayar
The Smarter Alternative: Compare Against These Options
- Other Prime projects, such as Mount Pleasant Crest, with a 12% recovery rate and a 59-month wait
- Standard BTO flats, with a 5-year MOP and no subsidy recovery
- Bukit Merah resale flats, with immediate occupancy and no waiting time
Start Planning Your Renovation Now
Renovation planning can start long before your keys arrive. Use the waiting time to set a budget and shortlist a licensed contractor.
Step 1: Understand Your Budget
- HDB BTO Renovation Budget 2025: budget planning framework
- 3-Room BTO Price & Renovation Cost Guide: pricing breakdowns
- 4-Room BTO Renovation Packages: package options
Step 2: Choose HDB-Licensed Contractors
All renovation work must be done by HDB-registered contractors. Research early using:
Step 3: Plan Room-by-Room
- Kitchen: BTO Kitchen Renovation Under $8K
- Overall timing: BTO Renovation Race: Timing Your Sprint
Step 4: Monitor Completion Progress
- HDB BTO Completion Date Tracker 2025-2026: TOP status updates
Conclusion: Your Prime Bukit Merah Decision
Berlayar Residences and Redhill Peaks put 1,901 Prime flats into Bukit Merah. Demand for 4-room flats reached 3.1 times for first-timer families. The trade-off is clear: a 10-year MOP, no whole-flat rental, and 12% to 14% of the sale price returned to HDB.
Prime flats suit buyers who want a home to live in for the long term. Buyers focused on returns should run the numbers on the sale price, not the gain, before applying.
Official HDB resources:
Start your renovation planning today: Contact RCS Renovation Contractor Singapore for HDB-licensed renovation services with transparent pricing.
Sources
- HDB, October 2025 BTO flat supply and pricing details (Annex A): units, prices, floor areas, waiting times, 2-room Flexi lease prices.
- HDB, October 2025 BTO sales exercise release (Table 2): subsidy recovery rates for each Plus and Prime project.
- HDB, Flat Supply and Applications Received, October 2025: final application rates as at 22 October 2025.
- HDB sales brochures: Berlayar Residences and Redhill Peaks: blocks, storeys, MRT stations, facilities, schools on site map.
- HDB, Conditions After Buying a Flat: 10-year MOP, whole-flat rental ban, subsidy recovery basis and exemptions.
- HDB, Measures to Cool the HDB Resale Market (2024): 75% loan-to-value limit from 20 August 2024.
- MND, Measures to Cool the HDB Resale Market (2024): Enhanced CPF Housing Grant up to $120,000.
- HDB, Revised Income Ceilings (Annex A, August 2026): $16,000 family ceiling.
Disclaimer: published by the RCS team for general information, not professional advice. HDB policies, prices and grant amounts change; confirm current figures with HDB before you apply. Projections are illustrative and not forecasts. Last reviewed: 24 October 2026.
