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Natura Loft DBSS in Bishan continually see its resale flats being sold for above $1 million - The New Paper
Flats at Natura Loft in Bishan continue to fetch a handsome price, with the recent sale of a five-room unit there again crossing the $1 million mark. According to data from the Housing Board, the flat, with just under 90 years of its lease left, was sold for $1,208,000 this month. This is believed to be the highest resale price for a Design, Build and Sell Scheme (DBSS) unit, Chinese newspaper Shin Min Daily News reported yesterday.
The new record is not a surprise, given that the housing market has been on the rebound after the circuit breaker as the market is seeing an increase in HDB resale prices in tandem with what has been happening across all segments of the housing market.
Even during this circuit breaker, Singapore's housing market saw private residential and HDB property sales volume going up and especially in good locations. Flash estimates from real estate portal SRX revealed last Thursday that prices of Housing Board resale flats increased for the third consecutive month last month.
DBSS flats are Housing Board flats designed, built and sold by private developers but are still considered as HDB public housing flats. Meant to provide condominium-style homes, the scheme was suspended in 2011 after public unhappiness over high selling prices.
The new record is not a surprise, given that the housing market has been on the rebound after the circuit breaker as the market is seeing an increase in HDB resale prices in tandem with what has been happening across all segments of the housing market.
Even during this circuit breaker, Singapore's housing market saw private residential and HDB property sales volume going up and especially in good locations. Flash estimates from real estate portal SRX revealed last Thursday that prices of Housing Board resale flats increased for the third consecutive month last month.
DBSS flats are Housing Board flats designed, built and sold by private developers but are still considered as HDB public housing flats. Meant to provide condominium-style homes, the scheme was suspended in 2011 after public unhappiness over high selling prices.
City View @ Boon Keng
The Pinnacle @ Duxton in Tanjong Pagar
Housing Board resale prices rose by 0.8 per cent last month compared with August, a faster rate than the previous two months. In all, 2,489 HDB flats were sold last month, a 2.2 per cent increase from August. The previous record price for a DBSS unit was the $1,205,000 paid for a five-room flat on the 39th-storey at City View in Boon Keng which also saw a few units sold for more than $1 million.
Eight resale flats also sold for above $1 million, one of them a five-room flat at The Pinnacle@Duxton in Tanjong Pagar, which sold for $1.258 million. It is believed to be a record for a resale HDB flat.
Launched as an HDB Build-to-Order (BTO) project back in May 2004, The Pinnacle@Duxton is the one and only BTO project to date that’s located in the city. Completed in 2010, the project began selling at record prices soon after the flat owners attained their five-year Minimum Occupation Period (MOP) towards the end of 2014.
Eight resale flats also sold for above $1 million, one of them a five-room flat at The Pinnacle@Duxton in Tanjong Pagar, which sold for $1.258 million. It is believed to be a record for a resale HDB flat.
Launched as an HDB Build-to-Order (BTO) project back in May 2004, The Pinnacle@Duxton is the one and only BTO project to date that’s located in the city. Completed in 2010, the project began selling at record prices soon after the flat owners attained their five-year Minimum Occupation Period (MOP) towards the end of 2014.
The private home market continues to defy gravity amid the pandemic, with last month’s sales up for a fifth straight month to hit levels not seen for more than two years. The robust numbers – 1,329 units sold, 5.6 per cent more than the 1,258 in August – came despite a fall in the number of new homes launched last month. This was the highest number of private new home transactions since July 2018, when 1,724 units were transacted after new property cooling measures fuelled a surge in sales from buyers rushing to beat the deadline.
Attractively priced projects in the city fringe – known as the rest of central region – continued to fuel sales last month, accounting for nearly 65 per cent of total transactions, analysts noted. The standout among three new non-landed launches last month was Penrose in Sims Drive, while existing top sellers such as JadeScape and The Woodleigh Residences also fared well.
Real estate professional Kiwi Lim from Huttons Asia said "the Covid pandemic this year in 2020 did not put a dent in local property prices as many property analysts predicted early this year. Instead, we are seeing an average increase of around 2% to 4% in property prices across the private residential and public housing sector in various locations in Singapore. This is mainly from local pent-up demand as foreign buyers for the first time ever are mostly kept out of Singapore during this Covid period. As Singapore opens up for foreigners to enter our borders, we may expect to see increased foreign interest in our property market."
Attractively priced projects in the city fringe – known as the rest of central region – continued to fuel sales last month, accounting for nearly 65 per cent of total transactions, analysts noted. The standout among three new non-landed launches last month was Penrose in Sims Drive, while existing top sellers such as JadeScape and The Woodleigh Residences also fared well.
Real estate professional Kiwi Lim from Huttons Asia said "the Covid pandemic this year in 2020 did not put a dent in local property prices as many property analysts predicted early this year. Instead, we are seeing an average increase of around 2% to 4% in property prices across the private residential and public housing sector in various locations in Singapore. This is mainly from local pent-up demand as foreign buyers for the first time ever are mostly kept out of Singapore during this Covid period. As Singapore opens up for foreigners to enter our borders, we may expect to see increased foreign interest in our property market."
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