{"id":22582,"date":"2016-08-11T12:16:40","date_gmt":"2016-08-11T05:16:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/boon-keng-dbss-flat-sold-for-1-1m\/"},"modified":"2016-08-11T12:57:27","modified_gmt":"2016-08-11T05:57:27","slug":"boon-keng-dbss-flat-sold-for-1-1m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/boon-keng-dbss-flat-sold-for-1-1m\/","title":{"rendered":"Boon Keng DBSS flat sold for $1.1m"},"content":{"rendered":"


\nCity 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)
\nDespite 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 Design, Build and Sell Scheme (DBSS) unit, reported The Straits Times.
\nThe 5-room flat comes with views of the sea and the Sports Hub.
\nThe deal underscores what housing experts call a persistent demand by some home buyers for centrally located premium units. They noted that units commanding such sky-high prices are \u2018outliers\u2019.
\nThe 35-year old seller, who wanted to be known only as Mr Tan, said he was trying his luck given that \u201cthe location is very convenient\u201d.
\nTwo weeks ago, Tan and his wife signed the option to purchase.
\nThe sale works out to a profit of over $300,000, as they acquired the flat for around $700,000 in 2008, when the DBSS project was launched.
\nCity View in Kallang is the second DBSS development to enter the resale market in January, following The Premiere in Tampines in 2014.
\nCity View, however, has been sold at higher prices due to its central location, with three other units breaching the $1 million mark.
\nThe question now is whether other DBSS projects will be able to replicate such unusually high prices.
\nLast month, units at Park Central in Ang Mo Kio began meeting the five-year minimum occupation period, while those at Natura Loft in Bishan will become eligible this month.
\nMeanwhile, units at Parc Lumiere in Simei have been placed on the market since February, with some priced at $738,000.
\nIndustry players believe that there is still demand for premium units despite the sluggish resale environment. Aside from quality and location, such units also have attributes that \u2018money can\u2019t buy\u2019, said ERA Realty agent Kavin Kuah, who represented Tan in the record deal, citing the view from the unit.
\nR\u2019ST Research Director Ong Kah Seng noted that while the majority of resale flat buyers will be cautious and work within their budget, a couple of buyers \u201cwith deep pockets will hold contrarian views and see the worth of the flat beyond the current gloomy statistics and pessimistic property picture\u201d.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Boon Keng DBSS flat sold for .1m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

City View @ Boon Keng, which offers views of the Kallang River, saw a 5-room...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-22582","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5Se","jetpack-related-posts":[{"id":42513,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbss-flat-in-bishan-sold-for-record-1-18m\/","url_meta":{"origin":22582,"position":0},"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":106941,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-room-hdb-flat-in-bukit-merah-sold-for-record-1-2m\/","url_meta":{"origin":22582,"position":1},"title":"5-room HDB Flat In Bukit Merah Sold For Record $1.2m","date":"May 8, 2019","format":false,"excerpt":"\r Located on a high floor, the 112 sq m flat in Boon Tiong Road has a remaining lease of 95 years. A standard 5-room HDB flat was sold for $1.2 million in April this year \u2013 the first time that a standard HDB flat price surpassed the most expensive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-million-dollar-hdb-flats-becoming-the-norm\/","url_meta":{"origin":22582,"position":2},"title":"Are million-dollar HDB flats becoming the norm?","date":"August 26, 2016","format":false,"excerpt":"\r The iconic Pinnacle @ Duxton has led to an uptick in million dollar flats sold per quarter. As we see recurring headlines of sky-high resale HDB transactions, should Singaporeans worry that such prices are becoming mainstream? We take a look in this issue of the Guru View. By Chang\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/GV-104-01.png?fit=530%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-august-2016\/","url_meta":{"origin":22582,"position":3},"title":"News Roundup (August 2016)","date":"August 26, 2016","format":false,"excerpt":"\r A recap of our most read stories for the month of August HDB, DBSS flats sold for over $1m A 5-room HDB resale flat in Clementi Avenue 3 was sold for $1,005,000 in August \u2013 a record price for this flat type outside the Pinnacle @ Duxton project. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26931,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eye-on-boon-keng-a-city-side-boon\/","url_meta":{"origin":22582,"position":4},"title":"Eye on Boon Keng: A city-side boon","date":"September 23, 2016","format":false,"excerpt":"\r Bendemeer Road runs through the Boon Keng area, and is near Boon Keng MRT station. (Photo: Nicholas Lannuzel, Flickr.com) Boon Keng may not be among the most hyped estates in Singapore, but its closeness to such estates, along with its healthy property market, make it an attractive place to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/09\/EO10501.png?fit=526%2C348&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":121345,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jui-residences-117-units-fully-sold-since-soft-launch-in-2018\/","url_meta":{"origin":22582,"position":5},"title":"Jui Residences\u2019 117 units fully sold since soft launch in 2018","date":"August 10, 2021","format":false,"excerpt":"\r All 117 units at Jui Residences have been fully sold, with a selling price of about $1,600 psf. Source:\u00a0Selangor Dredging Bhd Jui Residences, a 117-unit residential project by Selangor Dredging Bhd (SDB), has been sold out since its soft launch in September 2018, reported the New Straits Times (NST).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/JUI-RESIDENCES.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22582"}],"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=22582"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}