Haha why buy DBSS when you can buy condos cheaper soon...
Higher-end Singapore HDB market may be cooling
No rush for condo-style Bishan flats as market sentiment turns sober
By Jessica Cheam
THE higher end of the public housing market is showing its first signs of cooling, with the Housing Board’s latest condo-style flats receiving a lacklustre response.
With only one day left to the closing of applications, Natura Loft at Bishan has drawn about 600 applications for 480 flats, its developer told The Straits Times yesterday.
This is in stark contrast to the overwhelming demand for the previous three projects sold under the HDB’s design, build and sell scheme (DBSS).
The first project, Premiere @ Tampines, was a big hit, with 6,000 applications for 616 homes; City View @ Boon Keng had 3,500 buyers vying for 714 flats; while the third project, Park Central at Ang Mo Kio, drew 2,300 bids for 578 units.
Industry watchers say Natura Loft is a victim of the latest turn in market sentiment, which has seen companies retrenching staff and economies worldwide entering recession.
‘Announcements such as DBS Bank laying off 900 jobs have caught everyone off-guard, and local sentiment has turned very bad,’ said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International.
Other analysts such as ERA Asia-Pacific’s assistant vice-president Eugene Lim said Natura Loft’s pricing was ‘on the high side’.
‘The pricey units are launched at a time when the market is jittery, making a double whammy for the project,’ he said.
Four-room 95-sq m units at Natura Loft are priced from $465,000 to $586,000 while the five-room 120-sq m flats cost $600,000 to $739,000.
Higher-end Singapore HDB market may be cooling
No rush for condo-style Bishan flats as market sentiment turns sober
By Jessica Cheam
THE higher end of the public housing market is showing its first signs of cooling, with the Housing Board’s latest condo-style flats receiving a lacklustre response.
With only one day left to the closing of applications, Natura Loft at Bishan has drawn about 600 applications for 480 flats, its developer told The Straits Times yesterday.
This is in stark contrast to the overwhelming demand for the previous three projects sold under the HDB’s design, build and sell scheme (DBSS).
The first project, Premiere @ Tampines, was a big hit, with 6,000 applications for 616 homes; City View @ Boon Keng had 3,500 buyers vying for 714 flats; while the third project, Park Central at Ang Mo Kio, drew 2,300 bids for 578 units.
Industry watchers say Natura Loft is a victim of the latest turn in market sentiment, which has seen companies retrenching staff and economies worldwide entering recession.
‘Announcements such as DBS Bank laying off 900 jobs have caught everyone off-guard, and local sentiment has turned very bad,’ said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International.
Other analysts such as ERA Asia-Pacific’s assistant vice-president Eugene Lim said Natura Loft’s pricing was ‘on the high side’.
‘The pricey units are launched at a time when the market is jittery, making a double whammy for the project,’ he said.
Four-room 95-sq m units at Natura Loft are priced from $465,000 to $586,000 while the five-room 120-sq m flats cost $600,000 to $739,000.
