Wednesday, Sep 17, 2014Wednesday, Sep 17, 2014
News
 

First DBSS resale units fetch up to nearly $700,000

Five-room flats in The Premiere sold for $308k to $450k originally

Published on Mar 20, 2014 7:33 AM
 
The 616-unit The Premiere @ Tampines is the first Design, Build and Sell Scheme (DBSS) project to hit the resale market. -- ST FILE PHOTO

Singapore's first resale units from a premium public housing scheme have been sold, with the priciest going for almost $700,000.

These prices for The Premiere @ Tampines flats exceed the going rate for regular Housing Board units in the area, but fall below the highest asking price of $800,000.

Property watchers expect this to set a benchmark for the 616-unit development, the first Design, Build and Sell Scheme (DBSS) project to hit the resale market.

The prices mean a "tidy profit" of more than $200,000, as "the owners would have bought the units for under half a million dollars originally", said SLP International Property Consultants head of research Nicholas Mak.

 
If you are not a subscriber, you can get instant, unlimited access here