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17 September 2012

17th September, Monday




Record $1.28m for HUDC unit

Source: The Straits Times

A new record has been set for an HUDC flat.

The 1,680 sq ft maisonette along Shunfu Road was sold in July for $1.28million, topping last year's $1.22million sum for a 1,668 sq ft HUDC flat in the same area. This works out to about $762 per sq ft for the new record.

HUDC units have been attracting ever-larger bids due to their roomy interiors. The average HUDC flat is about 1,650 sq ft. A standard HDB five-room flat is smaller, at around 1,200 sq ft.

The agent said that units from these estates are transacted like private properties but are tagged with certain HDB restrictions, such as eligibility criteria.


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Over 1,000 DBSS flats still unsold since scheme's suspension

Source: The Straits Times

More than 1,000 Design, Build and Sell Scheme (DBSS) flats have been sitting unsold since the scheme was suspended last year.

Experts say demand for these pricier homes has likely been dampened by the bumper fresh supply of build-to-order (BTO) flats since both have a monthly income ceiling of $10,000.

Six DBSS launches have been rolled out since the 806-unit Adora Green in Yishun - now fully sold out - entered the market in February last year.

Some DBSS projects have similarly enjoyed healthy sales.

EL Development's 888-unit Trivelis in Clementi is 90 per cent sold, while CEL Development's 488-unit Belvia in Bedok has found buyers for 400 units.

But other projects have seen more modest sales. Pasir Ris One, for instance, has sold only about a quarter of its 447 units, while 195 units are still up for grabs at 680-unit Parkland Residences along Upper Serangoon Road.

Sim Lian Group declined to comment on sales figures for 708-unit Centrale 8 in Tampines, but agents say more than 60 per cent of the project has been sold. There are also still 206 flats at 682-unit Lake Vista @ Yuan Ching in Jurong up for grabs.

The National Development Ministry said last week that it was not rushing to finish the scheme's review as its current priority was to ramp up supply of BTO flats and executive condominiums (ECs).

An analyst noted that with BTO flats and ECs cannibalising the demand for DBSS flats, developers will now take longer to move units. "DBSS flats do offer buyers an alternative as they are priced between BTO flats and ECs. But because of the many alternatives that buyers have now, they are no longer as in demand," he said.

Mr Lee Sze Teck, Dennis Wee Group's senior manager of training, research and consultancy, said a Clementi BTO launch near a DBSS site in January that upset some buyers could also have cast a shadow on the DBSS segment. BTO flats are priced cheaper, and with a flood of BTO launches, buyers are unsure if they should commit to a DBSS unit.


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Inaugural deluxe EC attracts 1,000 visitors

Source: Today

Singapore's first-ever deluxe executive condominium (EC) at Upper Serangoon attracted more than 1,000 visitors on its opening day for e-applications.

Developers said they had expected a high turnout rate as the EC offered several premium features including living rooms with private jacuzzis and a sea-sports recreation centre.

The launch date for Heron Bay is on 26 October.


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