Bishan DBSS flat sold at $1.2 mil

Bishan DBSS flat sold at $1.2 mil

A 120 sq m penthouse unit at Natura Loft, a DBSS project on Bishan Street 24, fetched $1.18 million recently. It beat the last record price set by another five-room DBSS flat at City View @ Boon Keng which sold for $1.10 million last year. The highest price at The Pinnacle @ Duxton, meanwhile, was $1.12 million for a 106 sq m unit located above 40th floor.

SRI agent Joey Chan, who brokered the sale, says the property is one of a kind. "It is located above 35th floor with very high ceiling and view of the Bishan-Ang Mo Kio Park," she explains. 

Chan says the property drew keen interests due to its rare attributes. She started marketing the property only in the first week of January. The property's location in Bishan and some 200m from Catholic High School further adds to its appeal.

In October last year, a five-room flat at Natura Loft changed hands at $1.04 million. Natura Loft was completed in 2011 and the flats would have fulfilled their five-year minimum occupation period in 2016.

HDB resale statistics show four-room flats at Natura Loft were sold between $700,008 and $818,000 in the 4Q2016 to Jan 2017 period, while five-room flats started from $830,000.

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JUST SOLD: Bishan DBSS flat sold for $1.04 million

JUST SOLD: Bishan DBSS flat sold for $1.04 million

A 1,291 sq ft five-room DBSS flat in Bishan was sold for $1.04 million on October 21, making it the second priciest DBSS flat to date. The DBSS project, Natura Loft, is located on Bishan Street 24, about 200m from Catholic High School.

In August, a 1,280 sq ft five-room DBSS flat at City View @ Boon Keng set the record price for a DBSS flat when it was sold for $1.10 million. City View @ Boon Keng is located on Boon Keng Road, some 300m away from Boon Keng MRT station.

Both Natura Loft and City View @ Boon Keng was completed in 2011 and fulfilled their five-year minimum occupation period this year.

There were five transactions involving DBSS flats that fetched above $1 million. Of these, four transactions came from City View @ Boon Keng.

 

Transactions for DBSS flats that fetched above $1 million 

Project

Street

Price

Floor level

Type

Area (sq ft)

Contract date

City View @ Boon Keng

8 Boon Keng Road

1,100,000

28 to 30

5-Room

1,280

12/8/2016

Natura Loft

273B Bishan Street 24

1,038,000

40 to 42

5-Room

1,291

21/10/2016

City View @ Boon Keng

9 Boon Keng Road

1,028,000

40 to 42

5-Room

1,280

25/5/2016

City View @ Boon Keng

7 Boon Keng Road

1,025,000

31 to 33

5-Room

1,259

27/7/2016

City View @ Boon Keng

8 Boon Keng Road

1,004,888

40 to 42

5-Room

1,280

21/3/2016

REDISCOVER SINGAPORE

 

Rediscover Bishan Today!

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JUST SOLD: Bishan DBSS flat sold for $960,000

JUST SOLD: Bishan DBSS flat sold for $960,000

A 1,291 sq ft, five-room DBSS flat in Bishan was sold for $960,000 on October 5. The DBSS project, Natura Loft, is located on Bishan Street 24, some 200m from Catholic High School.

The development was launched in 2008. Four-room units were priced from $465,000 to $586,000 while the five-room flats from $600,000 to $739,000. Going by the mid-price point, the seller stood to reap a profit of around $290,000

Natura Loft was completed in 2011 and this is the second transaction for five-room flats in the project. Last month, another five-room flat in the project changed hands at $970,000.

In addition, there have been two transactions involving four-room flats in the project, both at $810,000.

As at today, a total of five DBSS projects have completed their five-year minimum occupation period. Besides Natura Loft, the other projects are The Premiere @ Tampines, City View @ Boon Keng, Park Central @ AMK and Parc Lumiere in Simei.

The latest transacted prices for five-room DBSS flats in these projects were $715,000 at The Premiere @ Tampines, $868,888 at City View @ Boon Keng, $828,000 at Park Central @ AMK and $720,000 at Park Lumiere in Simei.

 

Latest transactions for five-room DBSS flats by projects

Project

Street

Price

Floor level

Area (sq ft)

Natura Loft

275A Bishan Street 24

960,000

22 to 24

1,291

The Premiere @ Tampines

518C Tampines Central 7

715,000

10 to 12

1,162

City View @ Boon Keng

7 Boon Keng Road

868,888

4 to 6

1,237

Park Central @ AMK

588D Ang Mo Kio Street 52

828,000

10 to 12

1,205

Parc Lumiere

168C Simei Lane

720,000

10 to 12

1,151

REDISCOVER SINGAPORE

 

Rediscover Bishan Today!

#FINDYOURSPOT in our beloved city island

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Qingjian dangles one-carat diamonds and CoSpace

Qingjian dangles one-carat diamonds and CoSpace

SINGAPORE: Qingjian Realty’s Bellewoods, which opened for application on Sept 27, was the first executive condominium (EC) to be launched this year.

More than 1,500 people visited the showflat in Woodlands on the first weekend of its opening, with more than 400 applications received by Sept 28.

The majority of the e-applicants were those residing in the northern region, said the developer in a statement.

To entice buyers, the developer is offering a GIA-certified, princess-cut, one-carat diamond to the first 20 successful e-applicants at Bellewoods.

With the back-to-back launch of two ECs — the 561-unit Bellewoods in Woodlands, followed by the 651-unit Bellewaters in Sengkang — Qingjian has established itself as a leading player in the HDB upgraders’ market with five EC projects under its belt.

It has also raised the benchmark in sales gallery and showflat presentation at both projects.

Bellewoods’ sales gallery and showflats were designed by ID Dept, the same interior designers for the showflats at Commonwealth Towers.

Meanwhile the ones at Bellewaters were designed by Patty Mak of Suying Metropolitan Studio, who is known for the interior designs of Good Class Bungalows owned by the rich and famous in Singapore, and luxury condo developments such as Keppel Land’s Corals at Keppel Bay, OUE’s Centennia Suites and Twin Peaks, as well as Sing Holdings’ The Laurels at Cairnhill.

The developer is pricing both EC projects at between $750 and $820 psf, which means most units will cost less than $1 million.

It has also fine-tuned its “CoSpace” concept, which will be offered for some of its three-, four- and five-bedroom units, which make up about 37% of the units in each development.

The CoSpace provides flexibility and allows owners to change its usage according to their needs and lifestyles at different stages of their lives, explains Donald Ng, director of sales and marketing at Qingjian Realty.

Since its first project, the Natura Loft at Bishan, which was launched in 2008, Qingjian Realty, the property development arm of mainland Chinese construction giant Qingjian Group, has come a long way in terms of product quality and market acceptance, says Ng.

 

Donald Ng director of sales and marketing at Qingjian Realty.

Ng: The CoSpace provides flexibility and allows owners to change its usage according to their needs and lifestyles at different stages of their lives

 

Natura Loft was an HDB development under the design, build and sell scheme (DBSS).

Qingjian had built many of the HDB projects in the northern region of Punggol and Sengkang in the early years when it was mainly involved in construction.

Having developed four of 11 residential projects in Punggol so far, it has earned the nickname of “King of Punggol”.

On Sept 30, Qingjian added a sixth EC site to its portfolio.

The developer emerged as the top bidder for the EC land parcel at the junction of Sembawang Road and Canberra Link, which is just 400m from the proposed new Canberra MRT station.

The site can be developed into a 600-unit EC project.

“We remain confident of the continued demand in the EC market,” says Li Jun, general manager of Qingjian Realty (South Pacific) Group, in a statement.

 

living room of a five-bedroom CoSpace unit

The living room of a five-bedroom CoSpace unit

 

The tender for the EC site at Sembawang attracted just two bids.

Qingjian submitted the top bid of $229.38 million, which translates into $353 psf per plot ratio (ppr).

It is also 10% higher than the second bid, notes Nicholas Mak, executive director of SLP International.

Qingjian’s site is next to another EC site on Canberra Drive won by a joint venture between City Developments and TID, which paid $320.88 psf ppr for the site in January.

 

REDISCOVER SINGAPORE

 

Rediscover Woodlands Today!

#FINDYOURSPOT in our beloved city island

 

kitchen of a five-bedroom CoSpace unit

The kitchen of a five-bedroom CoSpace unit

 

Excluding Bellewoods, which launched its e-application exercise on the weekend of Sept 27, there are four other EC projects in the pipeline for launch in the northern region, with a total of 2,230 units, says SLP’s Mak.

These projects are likely to be launched from 2Q2015, given that developers can only launch a new EC project for sale 15 months after acquiring the site, or upon completing its piling works, whichever is earlier.

This is one of the restrictions introduced in the EC market last year.

However, Qingjian’s Ng notes that there is still pent-up demand in the EC market.

This is because there hasn’t been a launch since last November, he explains.

“With Bellewaters in Sengkang and Bellewoods in Woodlands, we are giving people a choice.

Each location has its own captive audience.”

This article appeared in the City & Country of Issue 646 (Oct 6) of The Edge Singapore.

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