Bishan DBSS flat sold for record S$1.18m

A new record high in HDB resale prices was achieved at Natura Loft, an HDB Design, Build and Sell Scheme (DBSS) project in Bishan where a five-room flat was transacted at S$1.18 million last month.

This already marks the third HDB resale transaction in the first month of 2017 that crossed a million dollars, according to SRI Pte Ltd, whose property agent represented the seller.

This translated to S$914 per square foot (psf) for the 120 sqm penthouse on a high floor above 35 stories. The DBSS project built by Qingjian Realty just crossed the five-year minimum occupation period.

SRI Pte Ltd’s property agent Joey Chan attributed the record price at Natura Loft to its location, spacious layout, and proximity to amenities and Catholic High school.

“A very key point about the unit – a three-room plus one study – is the high floor and panoramic view,” said Ms Chan.

The other two HDB resale transactions that crossed a million dollars this year were in Pinnacle@Duxton and a DBSS project City View @ Boon Keng, according to SRI.

This record price-setting streak in the public housing segment is seen as being at odds with calls among industry players to relax residential cooling measures, said International Property Advisor’s key executive officer Ku Swee Yong.

According to official data last week, resale volume for HDB flats rose for the second year in a row – by 7.8 per cent in 2016 to 20,813 transactions – the highest in four years.

This pick-up in volumes could be attributed to the gradually stabilising prices. Resale prices last year stayed flat, falling slightly by 0.1 per cent from the year before.

Join The Discussion

Compare listings