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Sunday, June 23, 2024
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BISHAN HDB RESALE UNIT SOLD FOR S$1.5 MILLION

A five-room HDB flat in Bishan recently broke the record for the most expensive resale flat in the area, selling for a remarkable S$1.5 million.

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While this may not be the most expensive HDB resale flat in Singapore, it is a significant milestone for the area. The flat is located at Block 275A in the Natura Loft development, which is along Bishan Street 24.

The flat is a part of the now-defunct Design, Build and Sell Scheme (DBSS), which was launched in 2005 but later axed due to complaints about high prices and poor quality. DBSS units are a rarity in Singapore, with only 13 projects and 8,533 units available in the country.

Natura Loft, with its 480 units spread across three 40-storey residential blocks, is one of the last DBSS projects to be completed. The premium associated with DBSS units is reflected in the prices of its units, which are typically more expensive than HDB flats but cheaper than condominiums.

The five-room flat in question is located on the 22nd to 24th floors and spans 1,292 sq ft with 86 years left on its 99-year lease. Its prime location in Bishan, a mature estate with plenty of amenities, is a major draw for buyers.

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The premium associated with DBSS units is due to their design, which resembles condominium units, and their location in mature estates. While there were complaints about high prices and poor quality in the past, Natura Loft has managed to buck the trend and command a high price due to its desirable location and premium specifications.

Overall, the sale of this five-room HDB flat in Bishan is a testament to the enduring appeal of DBSS units and their ability to command high prices in the resale market

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