Following the suspension of the Design Build and Sell Scheme (DBSS) last year, more than 1,000 flats have been left unsold as buyers turn to Build-to-Order (BTO) flats, reported The Straits Times.
The slowdown in demand for pricier DBSS units was attributed to the surge in supply of BTO flats which also have a monthly income ceiling of S$10,000.
While some DBSS launches have enjoyed healthy sales, others have seen more modest results.
The 888-unit Trivelis in Clementi by EL Development is now 90 percent sold while the 488-unit Belvia in Bedok by CEL Development has sold 400 units.
On the other hand, the 447-unit Pasir Ris One (pictured) still has many units left unsold. At the same time, 195 units remain unsold at the 680-unit Parkland Residences along Upper Serangoon Road.
Meanwhile, Sim Lian Group has declined comment on the take-up rate of its 708-unit Centrale 8 in Tampines, but agents believe it is now more than 60 percent sold.
Over at the 682-unit Lake Vista@Yuan Ching in Jurong, 206 homes are still up for sale.
The DBSS scheme was suspended last year following controversy over five-room units at Centrale 8 that were offered at an indicative price of S$880,000. Prices were subsequently cut and the priciest units are now going for S$778,000.
Last week, the Ministry of National Development (MND) noted that it is not rushing to review the DBSS scheme, given that its current priority is to increase the supply of BTO flats and executive condominiums (ECs).
Source : PropertyGuru – 18 Sep 2012