First three DBSS flats on resale market

Three Design, Build and Sell Scheme (DBSS) flats from The Premiere (pictured) along Tampines Avenue 6 have been placed on the resale market, according to media reports.

Developed by Sim Lian Group and completed in 2009, The Premiere is the first of HDB's DBSS projects.

The flats have already found buyers and this comes after the completion of the five-year Minimum Occupation Period (MOP). The units are subject to the new housing board rules, which require buyers and sellers to first agree on a price before receiving a HDB-approved valuation.

Two five-room DBSS flats will be sold for $671,000 and $699,000. When they were launched in 2006, 90 percent of the five-bedrooms there were priced around $308,000 to $450,000.

Meanwhile, a four-room DBSS resale flat will be sold for $582,000. Previously, a similar unit would cost between $288,000 and $410,000.

DBSS flats are designed and priced by private developers and come with high-end finishes compared to normal HDB units. This is to meet the aspirations of flat buyers with higher incomes.

The government had launched land sales for 13 DBSS sites since 2005, but since July 2011 DBSS land sales have been suspended following criticism over the affordability of such projects.

Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

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