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04-11-11, 01:22
http://www.straitstimes.com/PrimeNews/Story/STIStory_727511.html
Clementi DBSS flats a big crowd-puller
The 888 units attract close to 800 applications on Day One
Published on Oct 27, 2011
By Magdalen Ng
THOUSANDS of viewers thronged the showroom for Trivelis, a Design, Build and Sell Scheme (DBSS) project launched yesterday.
There was a long queue of people waiting to enter the showroom, and those inside jostled for space as they tried to find out more about the 888-unit development by EL Development.
Reflecting the continued popularity of DBSS homes, as of 11pm yesterday, potential buyers had lodged almost 800 applications for a unit in the development in Clementi Avenue 4.
Balloting will commence once online applications close on Monday.
The 888 three-, four- and five-room units are spread over three 40-storey blocks.
The sizes of the units range from 646 sq ft for a three-room flat, to 1,130 sq ft for a five-room flat. On average, the units will cost $650 per square foot.
Prices of the three-room flats will range from $375,000 to $470,000; four-room units will range from $530,000 to $650,000, and five-room flats will range between $658,000 and $770,000.
Some who showed up at Trivelis thought that the prices were not cheap, but still reasonable.
Ms Felicia Feng, 29, said: 'It is on the high side, but still acceptable for a development in a mature estate.'
The research executive was with her parents, who are looking to buy either a four- or five-room apartment.
Trivelis is popular as it is located just opposite the MRT station and town centre. Furthermore, Clementi has not seen a major launch of HDB flats for a long time.
Rigger Bahri Amat, 39, is drawn to Trivelis because of its location and is considering the four-room option.
He said: 'My family lives around here and my kid will start school in the area next year. It is also very convenient, near the MRT and shopping.
'My wife also likes the DBSS option because the flat does look nice.'
However, Madam Teo Tong Mooi, a housewife, was not too impressed. She felt that the rooms and kitchen were too tiny.
'It's very cramped. And for the size, it is quite expensive,' said the 42-year-old.
Mr Lim Yew Soon, managing director of EL Development, explained that they had to balance the size of the apartment with affordability.
The four-room units in Trivelis, which make up more than half of the development, are about 861 sq ft to 882 sq ft, considerably smaller than a typical new HDB four-room flat, which averages about 968 sq ft.
'A four-room resale flat in Clementi can go up to $700,000. That is not so affordable for most Singaporeans. So we kept that in mind for this development,' he said.
Trivelis is one of the few DBSS projects for which tenders were awarded before the Government put the scheme on hold, following a public outcry over prices at Centrale 8, Sim Lian's project in Tampines.
DBSS flats are in a niche category between normal HDB flats and executive condos. They are built by private developers and, unlike regular HDB units, typically come with luxurious fittings such as better flooring, built-in wardrobes and air-conditioning.
Buyers must meet HDB's eligibility criteria in order to qualify for a flat.
Aside from the quality, some potential buyers said they were hoping to land a home after several unsuccessful attempts in getting a new flat directly from HDB.
Miss Denise Chan, a customer service officer, said she and her fiance had tried unsuccessfully four times.
The 25-year-old said that while prices are high, it still is a preferred option when compared with buying a resale flat.
Resale flats in a popular estate like Clementi typically command prices that are significantly higher than their valuations.
This means that the buyer will have to stump up the difference in cash, as home loans are pegged not to transaction price but valuation.
Said Miss Chan: 'Cash over value for flats around here is about $40,000 to $50,000. For a DBSS, we don't have to fork out so much cash. Also, we are not in a hurry to get a house. Given a choice, who doesn't want to live in a new house?'
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Clementi DBSS flats a big crowd-puller
The 888 units attract close to 800 applications on Day One
Published on Oct 27, 2011
By Magdalen Ng
THOUSANDS of viewers thronged the showroom for Trivelis, a Design, Build and Sell Scheme (DBSS) project launched yesterday.
There was a long queue of people waiting to enter the showroom, and those inside jostled for space as they tried to find out more about the 888-unit development by EL Development.
Reflecting the continued popularity of DBSS homes, as of 11pm yesterday, potential buyers had lodged almost 800 applications for a unit in the development in Clementi Avenue 4.
Balloting will commence once online applications close on Monday.
The 888 three-, four- and five-room units are spread over three 40-storey blocks.
The sizes of the units range from 646 sq ft for a three-room flat, to 1,130 sq ft for a five-room flat. On average, the units will cost $650 per square foot.
Prices of the three-room flats will range from $375,000 to $470,000; four-room units will range from $530,000 to $650,000, and five-room flats will range between $658,000 and $770,000.
Some who showed up at Trivelis thought that the prices were not cheap, but still reasonable.
Ms Felicia Feng, 29, said: 'It is on the high side, but still acceptable for a development in a mature estate.'
The research executive was with her parents, who are looking to buy either a four- or five-room apartment.
Trivelis is popular as it is located just opposite the MRT station and town centre. Furthermore, Clementi has not seen a major launch of HDB flats for a long time.
Rigger Bahri Amat, 39, is drawn to Trivelis because of its location and is considering the four-room option.
He said: 'My family lives around here and my kid will start school in the area next year. It is also very convenient, near the MRT and shopping.
'My wife also likes the DBSS option because the flat does look nice.'
However, Madam Teo Tong Mooi, a housewife, was not too impressed. She felt that the rooms and kitchen were too tiny.
'It's very cramped. And for the size, it is quite expensive,' said the 42-year-old.
Mr Lim Yew Soon, managing director of EL Development, explained that they had to balance the size of the apartment with affordability.
The four-room units in Trivelis, which make up more than half of the development, are about 861 sq ft to 882 sq ft, considerably smaller than a typical new HDB four-room flat, which averages about 968 sq ft.
'A four-room resale flat in Clementi can go up to $700,000. That is not so affordable for most Singaporeans. So we kept that in mind for this development,' he said.
Trivelis is one of the few DBSS projects for which tenders were awarded before the Government put the scheme on hold, following a public outcry over prices at Centrale 8, Sim Lian's project in Tampines.
DBSS flats are in a niche category between normal HDB flats and executive condos. They are built by private developers and, unlike regular HDB units, typically come with luxurious fittings such as better flooring, built-in wardrobes and air-conditioning.
Buyers must meet HDB's eligibility criteria in order to qualify for a flat.
Aside from the quality, some potential buyers said they were hoping to land a home after several unsuccessful attempts in getting a new flat directly from HDB.
Miss Denise Chan, a customer service officer, said she and her fiance had tried unsuccessfully four times.
The 25-year-old said that while prices are high, it still is a preferred option when compared with buying a resale flat.
Resale flats in a popular estate like Clementi typically command prices that are significantly higher than their valuations.
This means that the buyer will have to stump up the difference in cash, as home loans are pegged not to transaction price but valuation.
Said Miss Chan: 'Cash over value for flats around here is about $40,000 to $50,000. For a DBSS, we don't have to fork out so much cash. Also, we are not in a hurry to get a house. Given a choice, who doesn't want to live in a new house?'
[email protected]