Cover photo: Samuel Isaac Chua/EdgeProp Singapore
SINGAPORE (EDGEPROP) – A five-room design, build and sell (DBSS) flat at Block 311C Clementi Avenue 4 was sold for a record $1.045 million, according to a caveat lodged on Aug 15.
The quantum translates to a price psf of $925 over a floor area of 105 sqm or 1,130.21 sq ft, which is a record for Clementi HDB Town itself.
The top-floor unit on the 40th floor is part of the 296-unit DBSS Trivelis in Clementi HDB Town, developed by EL Development.
Trivelis at Clementi Avenue 4. Photo: Google Maps
The development was completed in 2015, and is located near the Clementi Community Centre, Clementi Arcade and the Clementi MRT Station on the East-West Line.
It is also within walking distance of Nan Hua Primary School, one of the top primary schools in Singapore.
This is the second time in six months that the block has seen a new high.
In February, a 37th-floor unit of the same size sold for $1.038 million, or $919 psf.
To date, the block has seen a total of six five-room flats cross the million-dollar mark since November 2020.
Five-room units at Trivelis can command a monthly rental rate of between $2,800 to $3,100, translating to a yield of 3.36% to 3.72%.
DBSS flats are public houses offered for sale under the Housing Development Board (HDB).
Unlike resale flats or build-to-order (BTO) flats, buyers will have to buy their DBSS flats from the developer directly.
Homeowners looking to own a DBSS flat will have to have an average gross monthly income of not more than $14,000, or $21,000 if purchasing with extended family.