View Full Version : First DBSS flats go on resale market asking price as high as $780k!
First DBSS flats go on resale market, asking price as high as $780,000
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26 Feb 2014 22:08
SINGAPORE - The first HDB flats under the Design, Build and Sell Scheme (DBSS) have been put on the resale market, after reaching the minimum occupancy period of five years.
Some flat owners are asking for as much as 60 per cent more than what they paid five years ago.
The Premiere on Tampines Avenue 6 was the first HDB flat project designed, built and sold by a private developer.
90 per cent of the development are five-room flats, which were sold for between $308,000 and $450,000.
Now, online listings for some of these properties have prices starting at $650,000 and going up to as high as $780,000.
That's $70,000 to $200,000 more than other five-room flats in the same area.
"I think many owners are, in a way, testing the market to see whether the market is willing to accept their asking price. Another reason is that perhaps many of them feel that DBSS as a public housing is of higher quality than the normal HDB flats," said Nicholas Mak, executive director of SLP International Property Consultants.
HAHAHA Jokers lah. 5yrs old already, what premium?
First DBSS flats go on resale market, asking price as high as $780,000
A
A+
26 Feb 2014 22:08
SINGAPORE - The first HDB flats under the Design, Build and Sell Scheme (DBSS) have been put on the resale market, after reaching the minimum occupancy period of five years.
Some flat owners are asking for as much as 60 per cent more than what they paid five years ago.
The Premiere on Tampines Avenue 6 was the first HDB flat project designed, built and sold by a private developer.
90 per cent of the development are five-room flats, which were sold for between $308,000 and $450,000.
Now, online listings for some of these properties have prices starting at $650,000 and going up to as high as $780,000.
That's $70,000 to $200,000 more than other five-room flats in the same area.
"I think many owners are, in a way, testing the market to see whether the market is willing to accept their asking price. Another reason is that perhaps many of them feel that DBSS as a public housing is of higher quality than the normal HDB flats," said Nicholas Mak, executive director of SLP International Property Consultants.
Given that the subsequent buyer is still subjected to MOP and all, $780k is a very stretched asking.
Unlikely the take up for 780k is high... just interested to know where such dbss sellers will stay at this time if they manage to find carrotheads.
$780k I would rather look for EC, top up some money for security, parking and facilities. DBSS is still HDB
iwantgizmos
28-02-14, 04:17
$780k I would rather look for EC, top up some money for security, parking and facilities. DBSS is still HDB
exactly, my point too
understand the median selling price of 5rm HDB in Tampines is S$580k. Giving the fact that most HDB flat there are quite old, a 5-year normal HDB there may cost about S$650k and above.
If the location of the DBSS is pretty good, and the design is really better than normal HDB, around $700K is reasonable.
along this line, it is not impossible for a high floor, good facing unit to be sold above S$750k.
understand the median selling price of 5rm HDB in Tampines is S$580k. Giving the fact that most HDB flat there are quite old, a 5-year normal HDB there may cost about S$650k and above.
If the location of the DBSS is pretty good, and the design is really better than normal HDB, around $700K is reasonable.
along this line, it is not impossible for a high floor, good facing unit to be sold above S$750k.
Agree... but i understand the sizes are smaller than the 5-rm flats.
Facing-wise, either face road or the new BTOs. $700k is rather reasonable
if a nearby HDB flat, of similar size, is going for $500-600k in the resale market, then why should potential buyers pay more for the DBSS?
Carrot head..... If I am willing to pay 780k, I may as well get 4 room in tiong bahru or even queenstown... Location is the key... Renovation can done up anytime....
Carrot head..... If I am willing to pay 780k, I may as well get 4 room in tiong bahru or even queenstown... Location is the key... Renovation can done up anytime....
that's true. actually, for 780k, you can get a well-renovated, less than 15 years old, big size, high floor 4rm in Queenstown or holland village.
If I were allow to buy I will go for EC instead of DBSS because if u really bought at $750k for DBSS it will be hard to sell off next time.
HDB MSR is only 30% so if u bought at $750k hard to sell.
Anyone know the verdict from MND for DBSS?
Will DBSS go the way of HUDC and privatise in further?
matrix0405
28-02-14, 15:47
if a nearby HDB flat, of similar size, is going for $500-600k in the resale market, then why should potential buyers pay more for the DBSS?
Agree with u. DBSS is renovated HDB. If the nearby HDB is renovated it will be on par with DBSS. Why the need to pay more?
Lucky the HDB market has cooled, otherwise Singaporeans are gg to make a mockery out of the government for the ridiculous pricing that these DBSS will be achieving.
princess_morbucks
28-02-14, 19:11
Btw, does resale DBSS also have the 5 year MOP?
Yes, because it is categorised as a HDB apt/flat.
If one die die must buy in Tampines, here are some comparison.
Some attribute for this Tampines DBSS vs nearby resale HDB.
Basement carpark directly linked to units via lift.
Other Tampines blocks are all either open spaces or MSC which must walk. No direct link.
On elevated ground. You cannot access via anywhere except designated entrance / exit. It is in a way cordoned off via trees n landscape. Sightly more privacy as compared to other HDB in Tampines.
The newest 4/5 rooms are at least 20yrs old.
The DBSS comes with balcony if you like to have 1.
It is located at Tampines central.
Next door DBSS selling at ~650k. Price supported when it comes into resale market 5yrs later.
So if a nearby 20years old 5 room flat is asking for 600k,
I think this DBSS is worth at least 700k based on above attribute esp the 20yrs old lease.
Above just my humble opinion.
It is now limited edition. ..hdb will no longer build dbss...so maybe they might have a chance of being privatised..
Dbss was built in an era where all new btos were practically built at punggol or sengkang. Look at the resale value of these flats now. Whereas dbss were located at matured estate and their resale value are still holding strong. Although I would say not all dbss are in prime locations. The ones at toa payoh, bishan and boon keng are centrally located but there are also those at yuan ching or pasir ris which are still struggling to sell.
Dbss is by hdb. Just like other hdb. It wont be privatised. The era of public housing being privatised (hudc) is over.
well, you never know whats in store for this limited high class hdb...
Dbss is by hdb. Just like other hdb. It wont be privatised. The era of public housing being privatised (hudc) is over.
No one know that hudc was going to be privatised in the past. How do u know that it wun in the future? :)
No one know that hudc was going to be privatised in the past. How do u know that it wun in the future? :)
Because now we have EC.. Or else what is the difference between EC and DBSS? Anything can happen of course.. Why not we wait HDB will become private also
Because now we have EC.. Or else what is the difference between EC and DBSS? Anything can happen of course.. Why not we wait HDB will become private also
Yes, there is ec but these ec are not centrally located. I can only remem Bishan Loft ec off hand.
The new ones are mainly at punggol and etc.
DuaNehNehChioBu
02-03-14, 18:03
Where is my Lovely Clown Boy Ringo33 ? :D:D
780k is high......................:doh:
If one die die must buy in Tampines, here are some comparison.
Some attribute for this Tampines DBSS vs nearby resale HDB.
Basement carpark directly linked to units via lift.
Other Tampines blocks are all either open spaces or MSC which must walk. No direct link.
On elevated ground. You cannot access via anywhere except designated entrance / exit. It is in a way cordoned off via trees n landscape. Sightly more privacy as compared to other HDB in Tampines.
The newest 4/5 rooms are at least 20yrs old.
The DBSS comes with balcony if you like to have 1.
It is located at Tampines central.
Next door DBSS selling at ~650k. Price supported when it comes into resale market 5yrs later.
So if a nearby 20years old 5 room flat is asking for 600k,
I think this DBSS is worth at least 700k based on above attribute esp the 20yrs old lease.
Above just my humble opinion.
nearby older and more spacious 5rooms are going at $500-550k. so why would i want to pay almost $150-200k premium for a smaller space, in exchange for immaterial frills like shelter/underground car?
afterall, a DBSS is still public housing. taking a leaf from aviation industry, it's either you be a cost leader or be a premium service provider to survive. if you're neither here nor there - i.e. just like a DBSS, be prepared to sink
darkseed73
04-03-14, 15:25
Obviously, these DBSS owners trying to make profit and upgrade themselves to condo living.
I think only serious "goons" will finance them.
If u like DBSS location THAT much and next door have a cheaper and bigger HDB - still need to fight abt it?
In the end, u get no "deed" lease ends it goes back to HDB.
DBSS mostly sitting on prime land, u think govt will give it up so easily?
[URL=http://s1111.photobucket.com/user/darren
Well...base on resale stats on hdb website, there is a few 900+k transaction for a 5 rm 110sqm flat despite bigger and older flat in the vicinty. There are really some rich serious goons around who dun mind paying for hdb flat in good locations and I have not bring up the resale potential of Pinnacle at Duxton. Many ppl r still kicking themselves that they have mtb as they kpkb abt the all time high hdb price of it some years back.
IMO potential of DBSS will depend on its rental compare to HDB
http://i1111.photobucket.com/albums/h462/darrenhow/Mobile%20Uploads/Screenshot_2014-03-04-18-25-16-1.png (http://s1111.photobucket.com/user/darrenhow/media/Mobile%20Uploads/Screenshot_2014-03-04-18-25-16-1.png.html)
This is the pic that I have fail to post. In the same way that newer condo are still selling well despite getting smaller, hdb flat resale value are not affect by the size too.
15years newer vs existing nearby HDB.
Rental for 5rm say $2500 based on current market rate.
Multiply by 15yrs equal 450k.
That is why they are calling 700k vs 20yrs old @ 550k.
A 110sm DBSS going for 700k, a 110sm EC next door going for 1m
And a 110sm PC nearby going for 1.2m.
Still there is a 200-300k gap for each product.
This is based on resale price of DBSS vs new EC. When the new EC MOP ends, I guess they will sell at 1.2 to 1.3m n the gap becomes even bigger.
Above just my humble opinion.
15years newer vs existing nearby HDB.
Rental for 5rm say $2500 based on current market rate.
Multiply by 15yrs equal 450k.
That is why they are calling 700k vs 20yrs old @ 550k.
A 110sm DBSS going for 700k, a 110sm EC next door going for 1m
And a 110sm PC nearby going for 1.2m.
Still there is a 200-300k gap for each product.
This is based on resale price of DBSS vs new EC. When the new EC MOP ends, I guess they will sell at 1.2 to 1.3m n the gap becomes even bigger.
Above just my humble opinion.
you failed to take into account that a brand new DBSS vs a brand new BTO in the same vicinity may cost $100-200k more.
http://i1111.photobucket.com/albums/h462/darrenhow/Mobile%20Uploads/Screenshot_2014-03-04-18-25-16-1.png (http://s1111.photobucket.com/user/darrenhow/media/Mobile%20Uploads/Screenshot_2014-03-04-18-25-16-1.png.html)
This is the pic that I have fail to post. In the same way that newer condo are still selling well despite getting smaller, hdb flat resale value are not affect by the size too.
what pic of your above post?
Smth wrong with photo bucket. I had post a pic showing the resale values of 5rm hdb at Tpy. The 1st a 110sqm 5 years old flat at blk 79 tpy central at 950k. There a few 900k+ transactions. There is also a 15years old 121sqm flat at lor 2 tpy at 900k exact. So my point is both flat are abt the same distance to tpy mrt but the bigger size flat resale value is lower as it lease is shorter.
you failed to take into account that a brand new DBSS vs a brand new BTO in the same vicinity may cost $100-200k more.
This thread is referring n comparing the premeire at Tampines vs neighboring old HDB flats.
But I fully agree with you that the new DBSS flat is overpriced vs the new BTO.
I think a 50k premium is understandable due to the balcony, ready finishes etc but not 100k.
In fact the new DBSS carpark is multi storey type, same as BTO. Which is a boo boo.
Toa payoh Crest 4rm 90sqm $428-546K
Peak at Tpy DBSS 91sqm $468-582K
One DBSS and the other BTO juz across the rd. Price diff is ard 36-40K
I tink the diff is quite worth as DBSS come in stay in conditions and there are floor tiles even at corridor instead of cement.
darkseed73
05-03-14, 16:08
Toa payoh Crest 4rm 90sqm $428-546K
Peak at Tpy DBSS 91sqm $468-582K
One DBSS and the other BTO juz across the rd. Price diff is ard 36-40K
I tink the diff is quite worth as DBSS come in stay in conditions and there are floor tiles even at corridor instead of cement.
Sorry, your stay in conditions are applicable if u buy a brand new DBSS.
To me, after MOP it's really depending whom u buy from.
Maybe Toa payoh Crest that particular 4rm just renovated? While the Peak is renovated 5 years ago? Since both have no swimming pool or any diff - shouldn't we treat both as equal when we compare to buy?
This thread is referring n comparing the premeire at Tampines vs neighboring old HDB flats.
But I fully agree with you that the new DBSS flat is overpriced vs the new BTO.
I think a 50k premium is understandable due to the balcony, ready finishes etc but not 100k.
In fact the new DBSS carpark is multi storey type, same as BTO. Which is a boo boo.
with $700+k, i can get a unit in telok blangah, tiong bahru, redhill - better location and bigger size
with $700+k, i can get a unit in telok blangah, tiong bahru, redhill - better location and bigger size
Cannot be agreed more... With a budget of near $800k, I will go and buy a HDB in Tiong Bahru, Queenstown, Redhill, Central Area, TPY... Why will I want to buy in Tampines? I really don't understand the pricing of HDB now... The closer to city, the cheaper it becomes? Next time we will see Jurong West, Seng Kang, Punggol, Tampines selling more expensive than Queenstown, Redhill, Tiong Bahru... hahahaha
Sorry, your stay in conditions are applicable if u buy a brand new DBSS.
To me, after MOP it's really depending whom u buy from.
Maybe Toa payoh Crest that particular 4rm just renovated? While the Peak is renovated 5 years ago? Since both have no swimming pool or any diff - shouldn't we treat both as equal when we compare to buy?
Ai....by the time the new bto is able to sell, the renovation is also 5 years old too if we want to treat both as equal.
with $700+k, i can get a unit in telok blangah, tiong bahru, redhill - better location and bigger size
Bigger better location but much older.
I guess it really depends on individual.
Some people just so used to East and some like it at central.
I already calculated how much the additional lease may worth.
So really depends on each individual.
My friend just bought commonwealth 5 room resale just MOP unit at 920k.
Another friend bought 5 room Dover resale 33yrs old 680k.
But he will have problem trying to sell 15 yrs down the road as the lease is less than 50yrs.
jonathann80
08-03-14, 18:55
No one know that hudc was going to be privatised in the past. How do u know that it wun in the future? :)
If I aint wrong, no hdb loan was allowed for HUDC thus able to privatise. DBSS allows HDB loans which might be different
If I aint wrong, no hdb loan was allowed for HUDC thus able to privatise. DBSS allows HDB loans which might be different
http://www.homeanddecor.com.sg/blogs/are-hudc-flats-good-investments
This is informative for hudc.
phantom_opera
12-03-14, 06:48
top floor ??
109sqm minus the big big balcony, effective 100sqm only, so around 650psf
515D Tampines Ctrl 7 16 to 20 109.00
Dbss 2008 $699,888.00 Mar 2014
same same as old Bedok South:
19 Bedok Sth Rd 06 to 10 117.00
Standard 1976 $678,000.00 Jan 2014
68 Bedok Sth Ave 3 16 to 20 125.00
Standard 1977 $695,000.00 Feb 2014
phantom_opera
12-03-14, 07:02
HDB resale price near MRT at Sengkang & Bishan still firm leh ;)
268C Compassvale Link 06 to 10 110.00
Premium Apartment 2006 $638,000.00 Feb 2014
196 Bishan St 13 01 to 05 121.00
Improved 1987 $770,000.00 Mar 2014
matrix0405
12-03-14, 09:13
These transaction are before the announcement. Those sellers who got thru are lucky. With the selling price floor removed, price can move down a lot more in a down market.
phantom_opera
12-03-14, 09:19
These transaction are before the announcement. Those sellers who got thru are lucky. With the selling price floor removed, price can move down a lot more in a down market.
latest data from HDB based on resale registration date ... not sure how much is the lag (according to Khaw should be quite up to date)
matrix0405
12-03-14, 09:34
These transaction are before the announcement. Those sellers who got thru are lucky. With the selling price floor removed, price can move down a lot more in a down market.
phantom_opera
14-03-14, 11:03
515B Tampines Ctrl 7 01 to 05 95.00
Dbss 2008 $582,000.00
Low floor about 582psf
HDB now update daily as long as resale is registered
515B Tampines Ctrl 7 01 to 05 95.00
Dbss 2008 $582,000.00
Low floor about 582psf
HDB now update daily as long as resale is registered
This transacted price is pretty far from the asking price :banghead:
515B 1173 $730,000 $622
515D 1173 $699,888 $597
5 room are still command a very high price, still $150k cheaper than EC.
CITYLIFE 67 Tampines Central 1,141 $867,500
http://www.mas.gov.sg/~/media/resource/legislation_guidelines/banks/circulars/Cir_BD_04_2005.pdf
Anti-cashback rule starts from April 1
Resale flat buyers must appoint HDB-assigned valuers
The Straits Times - February 19, 2005
By: Goh Chin Lian
TO CURB the practice of falsely inflating the price of a flat to get a bigger loan, buyers will have to appoint a private valuer assigned by the Housing Board.(controlled valuation)
The new ruling will be from April 1 for resale flat buyers who wish to take bank loans and pay up with their Central Provident Fund (CPF) savings.
National Development Minister Mah Bow Tan made the announcement in Parliament yesterday, following a report in The Straits Times on the apparently prevalent practice.
The ruling already applies to existing buyers who take up HDB loans, Mr Mah said.
He also told the House that two more housing agents were being investigated for illegal cashback deals.
Ms Kereen Teo Pei Pei, 27, became the first property agent to be convicted of attempting such a deal last month, and was fined $8,000.
The HDB knows of only these three cases, though media reports suggest there are many more, Mr Mah said.
'It is very, very difficult to detect instances of cashback arrangements if all the parties involved collude and do not blow the whistle,' he said.
'We do not know how rampant these practices are and therefore we also do not know how much the prices have been inflated... unless somebody spills the beans.'
The HDB and CPF Board will announce more details of the new ruling soon, he said.
He also noted the current penalties for cashback deals. Now, buyers and sellers who give false information to HDB could be jailed for up to six months, fined and be barred from buying an HDB flat. Errant housing agents could be jailed for up to three years and fined; HDB could strike off their agency from its list.
Despite such penalties, buyers who need fast cash have resorted to cashback deals to secure a bigger housing loan, which they slowly pay back with their CPF savings.
But Mr Mah warned that not only is the arrangement illegal, 'but it also exposes buyers to greater financial risk, to high loans and erodes their retirement savings'. He also noted that buyers would incur higher stamp and legal fees, and that sellers may end up paying a higher resale levy if they subsequently buy a second subsidised HDB flat. This is because the levy is based on the sale price of the first subsidised flat.
Dr Amy Khor (Hong Kah GRC), who raised the question on cashback deals, asked if the ministry would allow only real estate agents from firms listed with the HDB to carry out resale flat transactions. Mr Mah did not think having such a restriction was necessary as it was not compulsory for real estate agents to be on the HDB's list, even though most are.
When Dr Khor pressed her point again, arguing that the onus was on these firms to ensure their agents do not cheat, Mr Mah agreed to consider her suggestion should a review be necessary.
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phantom_opera
17-03-14, 10:55
Bedok central 4r is about 50k-70k more in general relative to DBSS Tampines
220B Bedok Ctrl 06 to 10 87.00
Model A 2010 $655,000.00
221C Bedok Ctrl 01 to 05 94.00
Model A 2010 $630,000.00
phantom_opera
18-03-14, 21:43
219B Bedok Ctrl 11 to 15 97.00
Model A 2010 $690,000.00
219C Bedok Ctrl 06 to 10 115.00
Improved 2010 $720,000.00
661psf ...
phantom_opera
18-03-14, 21:52
Kallang 8xxk for monitoring:
3D Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $885,000.00 Feb 2014
3C Upp Boon Keng Rd 11 to 15 110.00
Improved 2006 $838,000.00 Dec 2013
816 Jellicoe Rd 11 to 15 110.00
Improved 2003 $855,000.00 Nov 2013
2A Upp Boon Keng Rd 26 to 30 110.00
Improved 2006 $888,000.00 Nov 2013
815 Jellicoe Rd 06 to 10 110.00
Improved 2003 $845,000.00 Oct 2013
3A Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $846,000.00 Sep 2013
phantom_opera
31-03-14, 13:44
price is softening? ... does not seem to be so for units next to MRT
March 2014:
49 Telok Blangah Dr 16 to 20 123.00
Standard 1976 $840,000.00
244 Simei St 5 06 to 10 119.00
Improved 1997 $683,000.00
196 Bishan St 13 01 to 05 121.00
Improved 1987 $770,000.00
30 Cassia Cres 01 to 05 120.00
Improved 1998 $795,000.00
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