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Natura Loft DBSS - Bishan
1 Nov 2021 - A five-room Housing Board (HDB) flat in Bishan changed hands for an all-time record $1.36 million this month, three days after it was put up for sale.
The unit at Block 273B Bishan Street 24 - in a Design, Build and Sell Scheme (DBSS) project called Natura Loft - smashed the previous high of $1.295 million logged in July by a five-room unit in the same project.
The sale of the 120 sq m unit, on the 37th floor of a 40-storey block, makes it the most expensive HDB resale unit. It has about 88 years and 10 months left on its lease.
Located in Bishan HDB Estate, Natura Loft is a Design, Build and Sell Scheme (DBSS) development that houses a total of 480 units in three residential blocks. Natura Loft remains attractive to residents with its panoramic view and central locations. It is located near Bishan MRT Station and Marymount MRT Station as well as major expressways such as the Central Expressway (CTE) and the Pan Island Expressway (PIE). Top-notch educational institutions in the vicinity include Catholic High School, Townsville Primary School, and Teck Ghee Primary School. Residents of Natura Loft could conveniently pick up their groceries at Bishan North Shopping Mall and Junction 8.
The unit at Block 273B Bishan Street 24 - in a Design, Build and Sell Scheme (DBSS) project called Natura Loft - smashed the previous high of $1.295 million logged in July by a five-room unit in the same project.
The sale of the 120 sq m unit, on the 37th floor of a 40-storey block, makes it the most expensive HDB resale unit. It has about 88 years and 10 months left on its lease.
Located in Bishan HDB Estate, Natura Loft is a Design, Build and Sell Scheme (DBSS) development that houses a total of 480 units in three residential blocks. Natura Loft remains attractive to residents with its panoramic view and central locations. It is located near Bishan MRT Station and Marymount MRT Station as well as major expressways such as the Central Expressway (CTE) and the Pan Island Expressway (PIE). Top-notch educational institutions in the vicinity include Catholic High School, Townsville Primary School, and Teck Ghee Primary School. Residents of Natura Loft could conveniently pick up their groceries at Bishan North Shopping Mall and Junction 8.
The sellers will only sell if the buyer can pay above $1.295 million when they engaged their marketing agent to market it around mid-October. The HDB flat enjoys unblocked city view, centrally located and has bright, airy interior. The buyers exercised the option to purchase the unit for $1.36 million on Sunday (Oct 31), according to documents seen by Straits Times.
DBSS units were built by private developers, with each development characterised by unique external features and better interior finishes. Purchasers are subjected to the same eligibility criteria and regulations as HDB owners.
These units are sought after due to their rarity - the Government suspended land sales for DBSS projects in 2011 -and larger living spaces. There are 13 DBSS projects, all launched between 2006 and 2011.
DBSS units were built by private developers, with each development characterised by unique external features and better interior finishes. Purchasers are subjected to the same eligibility criteria and regulations as HDB owners.
These units are sought after due to their rarity - the Government suspended land sales for DBSS projects in 2011 -and larger living spaces. There are 13 DBSS projects, all launched between 2006 and 2011.
Where the million dollar HDB flats are located - Straits Times
The record deal also comes on the back of a buoyant HDB resale market, in which prices hit a record high in the third quarter of this year.
The $1.295 million transaction in July, the second-highest record price, beat the third-highest price – set by another five-room unit in the same Bishan DBSS project in August – by $15,000.
In the latest deal, the Natura Loft flat has widened the price gap by $65,000, a clear indication of the robust HDB resale market.
Even though this news comes three days after the announcement of a new prime location public housing (PLH) model, which imposes stricter selling and buying conditions on future HDB flats in prime areas to keep them affordable and inclusive, but Bishan is not considered a prime location under the PLH model but is popular among home hunters who are willing to pay more for resale HDB flats there.
"We are seeing increased demand for HDB resale and property sales volume has been going strong in Singapore and so are the prices at certain locations. We see this in the private housing market as well. In fact if you look at the statistics, you may be surprised that more than 2/3 of the million dollar HDB flats in Singapore are not located in the city" said Kiwi Lim from Huttons Asia, "good schools in the vicinity plays an important part for families with young children, and for this group of buyers, prime may not necessarily mean the city area anymore".
The $1.295 million transaction in July, the second-highest record price, beat the third-highest price – set by another five-room unit in the same Bishan DBSS project in August – by $15,000.
In the latest deal, the Natura Loft flat has widened the price gap by $65,000, a clear indication of the robust HDB resale market.
Even though this news comes three days after the announcement of a new prime location public housing (PLH) model, which imposes stricter selling and buying conditions on future HDB flats in prime areas to keep them affordable and inclusive, but Bishan is not considered a prime location under the PLH model but is popular among home hunters who are willing to pay more for resale HDB flats there.
"We are seeing increased demand for HDB resale and property sales volume has been going strong in Singapore and so are the prices at certain locations. We see this in the private housing market as well. In fact if you look at the statistics, you may be surprised that more than 2/3 of the million dollar HDB flats in Singapore are not located in the city" said Kiwi Lim from Huttons Asia, "good schools in the vicinity plays an important part for families with young children, and for this group of buyers, prime may not necessarily mean the city area anymore".
Inspired by Straits Times news article on 31 Oct 2021
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