Over 40% of Belvia units taken up

Belvia – a Design, Build and Sell Scheme (DBSS) project situated along Bedok Reservoir Road – has received good response mostly from first-time buyers.

At the first phase of booking from November 7 to 9, the development which was reserved mainly for first-timers saw a take-up rate of more than 40 percent.

Belvia is a 488-unit project by CEL Development and the first DBSS project in the mature Bedok estate.

CEL Development said the units range from S$387,000 to S$415,000 for a 3-room flat, S$494,000 to S$576,000 for a 4-room unit, and S$648,000 to S$727,000 for a 5-room flat.

CEO of CEL Development, Mr Chia Lee Meng, said the larger four- and five-room units on the higher floors were the best sellers.

Belvia is one of the DBSS projects for which tenders were given out before the government announced earlier this year that it will put DBSS projects on hold.

The government is reviewing the scheme in the wake of high asking prices at a Tampines DBSS project, Centrale 8.

The developer had initially estimated prices of S$880,000 for a five-room unit, but later revised it to S$778,000.

Source : Channel NewsAsia – 11 Nov 2011

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