The shocking price of new HDB

DBSS flats Centrale 8 at Tampines launched

June 16, 2011

Sim Lian Group Limited is launching Centrale 8 at Tampines today.

Centrale 8 is a public housing project developed under the Housing and Development Board’s (HDB) Design, Build and Sell Scheme (DBSS). The project covers a total land area of 227,461.6 sq ft.

The project comprises 708 units of three- to five-room flats. The three-room flats range in size from 61 sq m to 62 sq m, the four-room flats from 83 sq m to 84 sq m and the five-room flats from 108 sq m to 109 sq m.

Three-room flats are available for between S$397,000 and S$510,000, four-room units between S$531,000 and S$683,000 and five-room flats between S$685,000 and S$880,000.

The development comprises seven residential blocks, fully-equipped with communal spaces, a central precinct pavilion, children’s playground, inter-precinct open spaces and a fitness area. It also features commercial facilities, such as an eatery, two shops and a mini-mart.

Centrale 8 is strategically located near the Tampines Regional Centre, Tampines MRT Station, Downtown Line 3 MRT Interchange, Tampines Mall, Century Square, Tampines One, major banks and the upcoming Tampines Town Lifestyle Hub.

The showflat will be open for public viewing from 16 to 21 June, 2011.

3 Room HDB ~ 667 sqft / $765 psf!!!

4 Room HDB ~ 904 sqft / $756 psf!!!

5 Room HDB ~ 1170 sqft / $750 psf!!

17 Jun 2011
Looks like I'm not the only one surprised by the new price of HDB. I opened  the Straits Times today and....

The rationale given behind the high price for this new HDB flat is that the location is excellent .... (for all the same reasons why Tampines Court's location is excellent).

With this new benchmark for HDB,  private mass market developments - which are not hamstrung by HDB rules and regulations-  are securely set in the $1000+ psf bracket.




23 June 2011
Tampines DBSS project two times oversubscribed 

The controversial expensive Design, Build, and Sell Scheme project at Tampines, Centrale 8, has been two times oversubscribed.

1,431 applications were received for the 708-unit project by the deadline on Tuesday.

This is despite the hullabaloo created by the indicated price earlier announced by property developer Sim Lian Group, who said during the launch that the biggest 5-room flats will cost up to $880,000.

It has since slashed the prices by up to $102,000, bringing the maximum price down to $778,000.

The Straits Times reported that this news surprised some industry observers, who said that the number of times a project is over-subscribed is not a good indicator of how well it will actually sell eventually.

PropNex Chief Mohamed Ismail told the paper that it is more likely that that people are hoping to buyer lower-end units within their price range, and that if they are offered a flat beyond their budget they will reject it.

Similarly, when the first DBSS project was launched, also by Sim Lian Group, the 616-unit Premiere@ Tampines received 5,700 applications. However, only 500 flats were sold initially, although, as the Straits Times reported, there were long queues when the remaining units went up for sale.
AsiaOne   Jun 23, 2011