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08 November 2012

8th November, Wednesday




Home buyers showing less interest in DBSS flats?

Source: Today

Public housing flats built under the Design, Build and Sell Scheme (DBSS) appear to have fallen out of favour with home buyers in recent months.

There are about 1,000 units of unsold DBSS flats and sales could slow as a result of the large pipeline of new Build-To-Order flats (BTO) and executive condominiums (EC), according to analysts.

Units at The Premiere @ Tampines were hot property when they were launched for sale in 2006, but sales of similar DBSS units have not been as brisk in the past year.

At Pasir Ris One, only 30 per cent of 447 units were sold since the project was launched in April this year, according to real estate agencies.

Meanwhile, Trivelis at Clementi Avenue 4 has seen better take-up, with 90 per cent of the units sold. The remaining 10 per cent of the 888 units can only be sold to non-Chinese buyers, according to public housing rules. But Trivelis' developer said a small number of buyers backed out previously, citing financial reasons or alternative housing options.

But analysts say these homes still offer substantial capital gains in the resale market after the minimum occupation period of five years.

Market watchers say there will still be a good demand for DBSS units in the coming years, when the projects are near to their completion date. They add that the developers are also in no hurry to clear out the remaining units and are therefore not likely to lower prices.


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