Unit prices for DBSS project in Tampines hit record high

[land118]

http://www.channelnewsasia.com/stori...135575/1/.html

Unit prices for DBSS project in Tampines hit record high
By Liang Kaixin | Posted: 16 June 2011 2322 hrs

SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.

Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.

Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.

The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.

DBSS projects are open to households earning a combined income of up to S$10,000 a month.

Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.

Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."

-CNA/ac

[land118]

Wow, veri high...., soon going to be $1m Liao....KBW smart say likely have justification to increase income ceiling...., enlarging pool who can afford...to apply...., he supporting price increase?

[azeoprop]

I guess is not about price dropping, rather to ensure good supply of bto in not so prime locations so that lower priced units are always available. Those better located ones will still maintain the premium.

[thomastansb]

Tampines also 880k. Then Pinnacle @ Duxton how? 1.3 million? Those bought at 750k are laughing their ass off now. And people at that time still say siao, 750k buy HDB. Now, Tampines 800k on average.

[bargain hunter]

news when reported in this manner only causes KBW to think of more cooling measures. but before that, pple must SNAP UP first lah. if poor sales, then KBW dun need to do anything liao.

Wow, veri high...., soon going to be $1m Liao....KBW smart say likely have justification to increase income ceiling...., enlarging pool who can afford...to apply...., he supporting price increase?

[Fleur]

news when reported in this manner only causes KBW to think of more cooling measures. but before that, pple must SNAP UP first lah. if poor sales, then KBW dun need to do anything liao.

They should Just stop this dbss nonsense, which is really mbt's lousy legacy. For nicer flats, go back to the design and build scheme that was started more than a decade ago.

[urban]

$880k.
leasehold
financing restrictions
no facilities/security
Tampines (damn far)

Government housing

HDB is mad crazy.

[land118]

Tampines also 880k. Then Pinnacle @ Duxton how? 1.3 million? Those bought at 750k are laughing their ass off now. And people at that time still say siao, 750k buy HDB. Now, Tampines 800k on average.

Ya....., pinnacle's iconic, much better, like that cross $1m Liao when 5yr is up to sell. Now agents at mass condo such as NV residence can shout "cheap cheap", (was about $800psf when launched, saw ad last mth still selling), I believe there are still units left there. Not vested.

Sim Lian director can say" prices are reasonable", that's becos he has got millions in his bank...

[Armstrong]

At this price, if people still buy, GREAT, let them buy, but please dont complain when price clashes.......

Mr KBW better act fast to cool the mkt bring the price down hefty..... this is really crazy......... HDB flat cost $880k!!! AFFORDABLE????????

http://www.channelnewsasia.com/stori...135575/1/.html

Unit prices for DBSS project in Tampines hit record high
By Liang Kaixin | Posted: 16 June 2011 2322 hrs

SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.

Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.

Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.

The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.

DBSS projects are open to households earning a combined income of up to S$10,000 a month.

Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.

Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."

-CNA/ac

[Komo]

Thing getting out of hand?
Any carrot head volunteer?
At least when market crash government will help.... Because it's their sin

[kingkong1984]

clearing waterview lah..

this makes that attractive

this will lead to further cooling measures, targetting at HDB's DBSS and EC's.

[kskong2000]

government say private housing too high and wan cool it off so the developer dont earn so much...HDB sell high is ok, coz money go government pocket...
If the sell go well, then private housing will have another bull run...next election, then change another minister..

[thomastansb]

Actually cannot compare like this. It is affordable for normal BTO I guess. Remember, no one ask these buyers to buy DBSS.

At this price, if people still buy, GREAT, let them buy, but please dont complain when price clashes.......

Mr KBW better act fast to cool the mkt bring the price down hefty..... this is really crazy......... HDB flat cost $880k!!! AFFORDABLE????????

[linchong84]

clearing waterview lah..

this makes that attractive

this will lead to further cooling measures, targetting at HDB's DBSS and EC's.

Wah.. got this kind of conspiracy theory one ah..

EC's prices need not cool, it's already quite low and almost same as DBSS.. Actually i think MND is confused liao.. They had thought that if they increase income ceiling for public housing, more people will be happier, pte housing demand and prices might be cooled, and subsequently cool HDB prices also.. seem like the opposite will happen instead..

The biggest mistake is MND allowed DBSS, which is a HDB flat, to be bidded and launched at open market.. Way too expensive and senseless..

[wenqing]

I don't think we should complain and price will not be an issue.

We voted PAP into Parliament and it means we accepted and believe whatever PAP and Mah Bow Tan said about Singapore Housing situation.

It means we accepted PAP and MBT's housing policies.

60.1% will show support by snapping up these DBSS even at 1 million. Most will be from Civil Service, Grassroots and NTUC.

Resale 5 years time will be 1.5 million.

Lets all huat all the way.


Btw, I am not from Sim Lian.

[ay123]

how much did sim lian paid for the land?

[linchong84]

how much did sim lian paid for the land?

280-300psf

[jimeong]

$261 , reported in strait times today

[land118]

Wah.. got this kind of conspiracy theory one ah..

EC's prices need not cool, it's already quite low and almost same as DBSS.. Actually i think MND is confused liao.. They had thought that if they increase income ceiling for public housing, more people will be happier, pte housing demand and prices might be cooled, and subsequently cool HDB prices also.. seem like the opposite will happen instead..

The biggest mistake is MND allowed DBSS, which is a HDB flat, to be bidded and launched at open market.. Way too expensive and senseless..

Should do away with DBSS and or combine into EC.., no need for 3 tier type of public housing. Now have BTO, DBSS and EC, MBT legacy...

[ay123]

$261 , reported in strait times today

sim lian really sucker. they should be able to construct at $500 or less. should boycott and make them suffer for this project

one hand khaw want to make hdb "affordable", another hand developer is sucking hard on ppl!!! ah khaw's definition of affordable means allowing higher earner to buy!!

[wenqing]

sim lian really sucker. they should be able to construct at $500 or less. should boycott and make them suffer for this project

one hand khaw want to make hdb "affordable", another hand developer is sucking hard on ppl!!! ah khaw's definition of affordable means allowing higher earner to buy!!

Don't think we should blame anyone.

We get what we voted for.

[spyro]

Tsk tsk...sim lian...very greedy..

[thomastansb]

I don't understand the big fuss here. If it is priced so high, they can just don't buy. Will you complain that Liang Court is selling an Apple from Japan that cost $80???

Don't think we should blame anyone.

We get what we voted for.

[wenqing]

Tsk tsk...sim lian...very greedy..

Sim Lian like other developers is just working within framework and policies set and allowed by government.

If you want, ask government to implement new restraints on developers and prices then.

I am sure government can think of something to restrict developers from being greedy.

[wenqing]

I don't understand the big fuss here. If it is priced so high, they can just don't buy. Will you complain that Liang Court is selling an Apple from Japan that cost $80???

I agree with you in principle.

But $80 foreign apple vs $880,000 local public housing is not good comparision though.


"It is after all just a HDB flat, why allow to make it so expensive" is what most people is shocked about.

Private Property alone is more than enough to cater to would-be buyers group of DBSS.

Scrap DBSS.

[dingding]

surely, hdb is getting a good cut from this.

[thomastansb]

It is not as if all HDB are selling at 800k. We are just picking 1 unit or maybe 100 units out of hundred of thousands that is in the market and say it is overpriced. Worse still, this is not BTO. This is DBSS by private developers. The differentiation factor is already there.

It is also like saying apartments (including HDB) are ridiculously expensive in Singapore because 1 rich man pay close to 6,000 psf in Orchard. By lumping all properties together. We have to look at the different type of flats I guess. Government already tell you, DBSS is priced by private developers with HDB rulings. If you still continue to buy, then it is your problem. You have 300k choice, you choose 800k. I have nothing to say.

I agree with you in principle.

But $80 foreign apple vs $880,000 local public housing is not good comparision though.


"It is after all just a HDB flat, why allow to make it so expensive" is what most people is shocked about.

Private Property alone is more than enough to cater to would-be buyers group of DBSS.

Scrap DBSS.

[azeoprop]

It is not as if all HDB are selling at 800k. We are just picking 1 unit or maybe 100 units out of hundred of thousands that is in the market and say it is overpriced. Worse still, this is not BTO. This is DBSS by private developers. The differentiation factor is already there.

It is also like saying apartments (including HDB) are ridiculously expensive in Singapore because 1 rich man pay close to 6,000 psf in Orchard. By lumping all properties together. We have to look at the different type of flats I guess. Government already tell you, DBSS is priced by private developers with HDB rulings. If you still continue to buy, then it is your problem. You have 300k choice, you choose 800k. I have nothing to say.

Yah can always don't buy one mah, who ask u to buy haa haa... The recent BTO just opposite this project called Tampines greenleaf 5room flat is priced between 371k and 444k.

[kingkong1984]

this one will be built first and for those who cannot wait.. walk in selection?

Choose your apple wisely.. eve tempted adam with a apple.. duno what color was that apple.

[sleek]

Yup, will be interesting to see how the profits are apportioned.

surely, hdb is getting a good cut from this.