The following article is by the folks at H88.com.sg, a property news and classifieds site.
Our obsession with lists compelled us to put together this piece, which we hope might help some of you in your hunt to find the perfect DBSS flat as your first home. Following The Peak @ Toa Payoh (2009), four other DBSS sites have since been bought for development but have not been launched. Here they are, enjoy.
What are DBSS?
For those of you who are newbies, DBSS – in typical Singapore Govt style – means Design, Build and Sell Scheme. Basically, the design, building and selling are done by private developers and agencies. When the project is done, it is handed over to HDB to manage the development.
The design, finishing and quality of the apartment unit is usually better than that of a typical HDB flat. However, DBSS units do not come with pool, gym, and the other facilities normal condos enjoy.
The usual HDB rules apply here: 5 years minimum occupation, selling to only pink and blue IC holders, as well as a new income ceiling of $10,000. Those earning under $8,000 combined salary are eligible for HDB loans. Those earning $8,000 to $10,000 are eligible only for first-timer CPF grant of $30,000.
Prices range between a high-end HDB resale flat and an Executive Condo.
Adora Green – Yishun Central/Yishun Ave 11 (approx. 800 units)
Adora Green is HDB’s latest (and seventh) DBSS offering. Although the buzz has been surrounding Adora Green for quite some time, it hasn’t been launched. Hopefully the developers will keep to their promise and launch after the Lunar New Year.
Location wise, it is about as good as it gets — it’s located in along Yishun Central and is a short walk to the nearby amenities such as Northpoint Mall, Yishun MRT, bus interchange, swimming complex and Khoo Teck Puat Hospital. Nice!
There will be 3-, 4- and 5-room flats on offer, and our sources say that there will be 160 units of 3-bedders, 520 units of 4-bedders and the remaining 120 units of 5-bedders. Pricing wise, we think it is a little too expensive. We heard that they range from $300,000 and above for a 3-room unit to $500,000 and above for a 5-room unit. Crazy, isn’t it? That’s half a million! And it’s in Yishun!
Upper Serangoon Road (approx. 630 units)
This is probably the DBSS site with only 2 bidders — remember how Kwan Hwee Investment paid $42 million more than Sim Lian’s $113 million for this site? Strangely, another condo site just across the road received more bids than this one.
A short drive brings you to Hougang Central where there is Hougang Mall, Hougang MRT (probably the nearest MRT station), and the upcoming megamall. Drive a little further along Upper Serangoon Road and you get to Heartland Mall (Kovan) and Nex (Serangoon). That’s not so bad isn’t it?
There’s also Punggol Park just a couple of minutes’ walk away, which also means it should be nice and serene at night. Oh! We forgot to mention that the KPE is also nearby, which is pretty convenient too.
Bedok Reservoir Cresent (approx. 430 units)
If you like being close to nature, then this is the place for you. The DBSS site here is flanked by Bedok Reservoir and Bedok Town Park, so there will be plenty of fresh air in the morning. This also means that some units won’t have the typical view of HDB blocks spanning as far as the eye can see.
We think this DBSS will be a hit (it’s received 6 bids!) because it will be near the upcoming Bedok Town Park MRT station. Not only that, Tampines Central, the upcoming Bedok mall and Bedok Point are a short drive away.
Tampines Avenue 5 (approx. 580 units)
Located right beside Tampines Premier, we think that this Tampines DBSS site will be a hit when it launches. Although it has the view of HDB blocks left, right, centre, it is within walking distance to Tampines Central. That’s 3 malls right there for you!
Across the road is Tampines Sports Complex (stadium, swimming pools, badminton/basketball/netball hall) where you can keep fit and catch exciting S-League matches. All-in-all, not too bad if you’re planning to upgrade your Tampines flat to a DBSS.
If we really had to choose, we might settle for either Adora Green or the Tampines DBSS because they are located in/ relatively near the town centre. We’re not sure of how the prices for the other DBSS projects (besides Adora Green) will be like, but we hope they aren’t too expensive!
If you had to choose, which one will it be? Let us know your thoughts below.
Upper Serangoon Road (approx. 630 units)