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The flats at Natura Loft in Bishan continue to fetch an attractive price, with the recent sale of a five-bedroom unit there again crossing the $ 1 million mark.
According to data from the Housing Board, the apartment, which had just under 90 years of lease left, sold for $ 1,208,000 this month.
It is believed to be the highest resale price for a design, build and sell (DBSS) unit, Chinese newspaper Shin Min Daily News reported yesterday.
The 120-square-meter unit is believed to be located between floors 28 and 30.
The previous record price for a DBSS unit was $ 1,205,000 paid for a five-bedroom apartment on the 39th floor at City View in Boon Keng.
In August of this year, a similarly sized unit at Natura Loft, also on a high floor, sold for around $ 1.08 million.
In 2017, a unit made headlines after it reached a record price of $ 1.18 million.
DBSS flats are Housing Board flats designed, built and sold by private developers.
Experts who spoke to The New Paper said the new record is not a surprise, given that the housing market has been rebounding after the circuit breaker.
Ms Christine Sun, head of research and consulting at OrangeTee & Tie, said the spike in price parallels what has been happening in all segments of the housing market.
“Sales volume has increased and so have prices in certain places. We also see this in the private housing market. In general, that’s where the trend is going,” Ms. Sun told The New Paper.
Flash estimates from real estate portal SRX revealed last Thursday that the Housing Board’s resale apartment prices rose for the third month in a row last month.
Resale prices from the Housing Board increased 0.8 percent last month compared to August, a faster rate than the previous two months.
In total, 2,489 HDB floors were sold last month, a 2.2% increase from August.
Eight resale apartments also sold for more than $ 1 million, one of them a five-bedroom apartment at The Pinnacle @ Duxton in Tanjong Pagar, which sold for $ 1.258 million.
It is believed to be a record for a resale HDB floor.
Referring to the recent sale at Natura Loft, Ismail Gafoor, PropNex CEO, said the Bishan location is an attractive proposition.
He said: “That property is in a very good location, in terms of very good schools, and it is also very central.”
Both Sun and Ismail said the previous owners would have bought the flat at a higher price than the developers, which Ismail estimated at $ 600,000 and more.
Ismail said he won’t be surprised if the current record is broken in the coming months, though he doesn’t expect a big increase.
“Today, the HDB market has recovered and private property prices are also increasing positively. Therefore, the DBSS (flats), based on the design, are seen as a value proposition.”
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