This makes it the highest resale Design, Build and Sell Scheme (DBSS) sold so far. The previous record price for a DBSS was $1.205 million. Image: ADDP Architects
A five-room flat at Natura Loft in Bishan was sold for $1.208 million this month – making it the highest resale price for a Design, Build and Sell Scheme (DBSS) unit, reported Shin Min Daily News.
Believed to be located between the 28th and 30th storeys, the 120 sq m unit has less than 90 years left on its lease.
A 39th-storey five-room flat at City View in Boon Keng held the previous record price for a DBSS unit, when it was sold for $1.205 million in 2019.
Natura Loft flats have been selling for a handsome price, with a five-room flat, which was also situated on a high floor, sold for around $1.08 million in August this year.
Another unit there made headlines in 2017, when it was snapped for a record price of $1.18 million.
DBSS flats are Housing and Development Board (HDB) flats that are built, designed and sold by private developers.
Recommended article: DBSS Flats: What Are They and Are You Eligible?
With the housing market on the rebound following the circuit breaker, the new record came as no surprise to experts, reported The New Paper.
OrangeTee & Tie Head of Research and Consultancy Christine Sun explained that the price hike is in line with what is happening in the housing market.
“The sales volume has been going up and so are the prices at certain locations. We see this in the private housing market as well. Generally, that is where the trend is going,” said Sun as quoted by The New Paper.
PropNex CEO Ismail Gafoor attributed the record price to the property’s attractive location.
“That property is in a very good location, in terms of very good schools, and is also very centrally situated,” he said as quoted by The New Paper.
Both Sun and Ismail believe that the previous owners paid a premium price for the flat, with Ismail estimating the price to be $600,000 and above.
Ismail expects the current record to be broken in the coming months. However, he does not expect to see a huge increase.
“Today, the HDB market has taken a rebound and the private property prices are also positively increasing. Therefore, DBSS (flats), based on design, are seen as a value proposition,” he said.
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