Bishan DBSS flat sets record HDB resale price

A Design, Build and Sell Scheme (DBSS) flat in Bishan has fetched a record $1.18 million in the priciest public housing resale deal to date. The five-roomer is one of just 12 penthouse units in the three-block, 480-unit Natura Loft project. Accordingly the flat’s attractive points included its panoramic view, central location and spaciousness.

The flat’s size is 120 sq m, which is larger than typical 110 sq m five-room Housing Board (HDB) flats today, but comparable to older HDB flats. The $1.18 million deal on Sunday beats previous records set by DBSS flats (a City View @ Boon Keng DBSS unit went for $1.1 million in August) or the Pinnacle@Duxton HDB project (fetched $1.12 million in September).

Though considered public housing, DBSS flats are developed and sold by private developers, not the HDB. Meant to provide condominium-style homes, the scheme was suspended in 2011 after public unhappiness over high selling prices.

The Natura Loft units originally cost $465,000 to $586,000 for 95 sq m four-roomers and $590,000 to $739,000 for five-roomers. At least 25 other units there have been sold on the resale market: 14 four-room flats at prices ranging from $700,008 to $818,000, and 11 other five-roomers, from $830,000 to $1.04 million. Natura Loft is one of several DBSS projects which became eligible for resale last year, along with City View, Park Central in Ang Mo Kio, and Parc Lumiere in Simei.

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