People who bought expensive DBSS (Trivelis) at Clementi got screwed very bad

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http://www.h88.com.sg/article/Clementi+Ridges+review+part+1:+Location+and+prices/

This super highly anticipated BTO in Clementi is sure to draw in the crowds if it had a showflat like you see in those condo launches. Located right next to Trivelis DBSS, Clementi Ridges already looks to be a better deal than its more glamourous cousin. Let us take a look at this soaring 37 to 40-storey development comprising of 684 3-, 4- and 5-room standard flats.

You might say Clementi Ridges is too expensive, but if you compare it with its next door neighbour Trivelis DBSS, you are getting a bargain! 4-room flats at Trivelis were selling from $530k to $650k. Note that they are 10sqm SMALLER than the BTO and they come with balconies. Can you imagine how small the bedrooms will be?

DBSS - R.I.P.?
Though some might argue that DBSS isn't the same as BTO due to its superior finishing and design. The question is: are those worth the $80k-100k premium? Clearly not. When the time comes to sell, they will face stiff competition from this BTO for sure.

 

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Is the location of this Trivelis worth the premium paid?

 

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Trivelis, an 888-unit development under the Design, Build and Sell Scheme (DBSS), will be launched by EL Development tomorrow. Located at Clementi Ave 4, the three 40-storey towers consist of three-room to five-room flats, of which more than 50 per cent are four-room flats. Prices of three-room flats (646 sq ft) will range from $375,000 to $470,000; four-room units (861 sq ft to 883 sq ft) will range from $530,000 to $650,000; five-room flats (1,130 sq ft) will range between $658,000 and $770,000.

The indicative pricing is on the higher side when compared with resale flats, and even strays into executive condominium (EC) prices, noted Nicholas Mak, research head of property consultancy SLP International. A four-room resale flat in Clementi averages about $500,000 while a five-room resale flat costs about $630,000, give or take $20,000 respectively, he noted. ECs on the other hand tend to hover in the $700-$720 psf range, which means once prices cross the $700 psf mark, they are going into the EC price range, he said.

Based on the price range, Trivelis’s three-room units cost approximately $580-$727 psf; its five-room units cost between $582 and $681 psf. On average, the units cost $650 psf, said EL Development. There are, however, notable selling points for Trivelis, Mr Mak said, including the superior location – of the three DBSS projects launched:

E-applications for Trivelis start tomorrow and end on Oct 31. This project is one of a few for which tenders were given out before the government announced earlier this year that it will put DBSS projects on hold. The government said it wanted to review the scheme following an outcry from Singaporeans after developer Sim Lian’s DBSS project, Centrale 8 (in Tampines), made the news for its high asking prices. Sim Lian Group had initially estimated prices of $880,000 for a five-room unit, but later revised it to $778,000.

Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

 

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One expensive, the other very expensive - pigeon holes.