{"id":121200,"date":"2021-08-02T02:15:01","date_gmt":"2021-08-01T19:15:01","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbss-flat-in-bishan-sells-for-record-1-295mil\/"},"modified":"2021-08-02T11:04:20","modified_gmt":"2021-08-02T04:04:20","slug":"dbss-flat-in-bishan-sells-for-record-1-295mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbss-flat-in-bishan-sells-for-record-1-295mil\/","title":{"rendered":"DBSS flat in Bishan sells for record $1.295mil"},"content":{"rendered":"


\nDBSS flat in Bishan sells for record $1.295milThe previous record for an HDB resale unit was set in June, when a 49-year old terraced house in Whampoa was sold for $1.268 million. Photo: ERA
\nA 5-room HDB flat in Bishan has set a new record as it changed hands for $1.295 million, reported The Straits Times (ST).
\nThe 120 sq m flat is located at Block 273A Bishan Street 24 in Natura Loft \u2013 a 40-storey project under the Design, Build and Sell Scheme (DBSS). The unit has about 89 years left on its lease and sits above level 35.
\nThe previous record for an HDB resale unit was set in June, when\u00a0a 49-year old terraced house in Whampoa was sold for $1.268 million.
\nERA Realty property agent Elson Wang, who brokered the deal, told ST that the sale was made just three weeks after the unit was put up for sale.
\nWang revealed that the sellers had set a $1.27 million bottom line for the flat and would not consider lower offers.
\n\u201cThey didn\u2019t share the reason for picking that figure but I guess different people have different expectations. I had advised them that the transaction might take time as we need to wait for the right buyer,\u201d he said as quoted by ST.
\nHe shared that they hosted five groups of potential buyers before the sellers received an offer.
\nAlthough the sellers considered the $1.25 million offer as \u201ctoo low\u201d, the offered price gradually increased to $1.28 million before reaching the final price of $1.295 million.
\nWang cited the central location, unblocked city view and well-maintained interior of the unit as its main draws. He added that the sellers spent almost $100,000 on renovation works, which was done via frequent touch-ups over the years.
\nST noted that 124 HDB resale flats were sold for at least $1 million as of 30 July 2021 \u2013 the highest number of million-dollar flats shifted within a year. Of these, 18 were sold in July.
\nMillion-dollar HDB flat transactions are expected to end on a record high note this year. In fact, one analyst believes it may exceed 180 units, considering the quarterly average of 25 units over the last three years.
\nDBSS flats are built by private developers, with each project characterised by unique external features. However, unit owners are also subject to similar regulations as HDB owners.
\nDBSS units are very sought-after because of their rarity as well as the bigger living spaces.
\nA total of 13 DBSS projects were built in Singapore between 2005 and 2012.
\nOrangeTee & Tie\u2019s Senior Vice-President of Research and Analytics Christine Sun said the latest transaction could set the precedence for over $1.2 million to $1.3 million HDB resale deals.
\n\u201cMass-market condo prices have been increasing so perhaps some are willing to turn to such million-dollar HDB flats that have equally attractive attributes,\u201d she said as quoted by ST.
\nRecommended article:\u00a0What Is Cash Over Valuation and How It Affects Your HDB\u2019s Appreciation
\n\u201cThere are also more Build-To-Order (BTO) HDB flats in mature estates with higher price tags around the $600,000 to $700,000 range so in comparison, paying $1 million for a premium resale flat may be okay for some,\u201d she added.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…DBSS flat in Bishan sells for record .295mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DBSS flat in Bishan sells for record $1.295milThe previous record for an HDB resale unit...<\/p>\n","protected":false},"author":1,"featured_media":121201,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-121200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/DBSS-Bishan.jpg?fit=820%2C615&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vwQ","jetpack-related-posts":[{"id":101540,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-terrace-near-whampoa-sold-for-record-1-185m\/","url_meta":{"origin":121200,"position":0},"title":"HDB terrace near Whampoa sold for record $1.185m","date":"November 22, 2018","format":false,"excerpt":"\r A total of 52 million-dollar HDB flats have been sold to date this year.\u00a0 A Housing and Development Board (HDB) terrace house along Jalan Bahagia near Whampoa was sold for $1.185 million in September \u2013 setting a new record for the priciest HDB unit sold, reported Channel NewsAsia citing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122991,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bishan-resale-flat-smashes-record-sold-for-1-36mil\/","url_meta":{"origin":121200,"position":1},"title":"Bishan resale flat smashes record, sold for $1.36mil","date":"November 3, 2021","format":false,"excerpt":"\r The five-room Natura Loft unit sold for $1.36 million, setting a new record for the most expensive HDB flat ever sold. A five-room Housing and Development Board (HDB) flat in Bishan was sold for $1.36 million, just three days after it was listed for sale, reported The Straits Times\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/Natura-Loft.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":42513,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbss-flat-in-bishan-sold-for-record-1-18m\/","url_meta":{"origin":121200,"position":2},"title":"DBSS flat in Bishan sold for record $1.18m","date":"February 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Natura Loft, a DBSS project in Bishan. Source: ADDP Architects A five-room flat in Natura Loft, a Design, Build and Sell Scheme (DBSS) project in Bishan, has made headlines for becoming the most expensive resale transaction in a public housing development so far, reported The New\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120611,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/49-year-old-hdb-terraced-house-in-whampoa-breaks-record-with-1-268mil-selling-price\/","url_meta":{"origin":121200,"position":3},"title":"49-year-old HDB terraced house in Whampoa breaks record with $1.268mil selling price","date":"June 23, 2021","format":false,"excerpt":"\r 49-year-old HDB terraced house in Whampoa breaks record with $1.268mil selling priceThe two-storey flat at Block 39 Jalan Bahagia is a landed corner terraced unit with an area of 210 sq m \u2013 which are considered rare attributes for an HDB flat. Photo: Google Street View Adding to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/06\/39-jalan-bahagia-crop.png?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":22582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/boon-keng-dbss-flat-sold-for-1-1m\/","url_meta":{"origin":121200,"position":4},"title":"Boon Keng DBSS flat sold for $1.1m","date":"August 11, 2016","format":false,"excerpt":"\r City View @ Boon Keng, which offers views of the Kallang River, saw a 5-room unit sold for $1.1 million. (Photo:\u00a0Sengkang~commonswiki \/ Wikimedia Commons) Despite a depressed resale market, a 28th-floor flat at City View @ Boon Keng was sold for $1.1 million \u2013 a record price for a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67133,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-the-guru-view-graveyard-appreciation\/","url_meta":{"origin":121200,"position":5},"title":"Get the Guru View: Graveyard appreciation","date":"September 21, 2017","format":false,"excerpt":"\r View of Bishan Park at sunrise. Before Bidadari, there was Bishan. The small HDB estate has seen strong capital appreciation over the years. Singaporeans are hoping that the upcoming estate of Bidadari, with a similar history and city fringe location, will reap financial benefits for its residents in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/09\/Prices-and-transaction-volumes-in-Bishan-1024x272.jpg?fit=1024%2C272&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121200"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=121200"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/121201"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=121200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=121200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=121200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}