Recent transactions of 3 DBSS (Design, Build and Sell Scheme) units at Park Central in Ang Mo Kio has almost reached the $1 million mark. For public housing, this is certainly a bit of a coup for the property situated near the Ang Mo Kio MRT station. But compared to normal 5-room HDB flats in Ang Mo Kio Ave 1 went for as much as $880,000, the $980,000 selling price for a 5-roomer at Park Central which just reached its 5-year MOP (minimum occupation period) in July this year sounds perfectly normal for this district.
The DBS Scheme was suspended in 2011 due to the soaring prices, culminating in Centrale 8 in Tampines, developers have been setting for these projects, which are privately developed though they are technically public housing. DBSS units can be sold once the 5-year MOP is reached. Some other DBSS projects which entered the resale market this year were City View @ Boon Keng, Natura Loft in Bishan and Parc Lumiere in Simei. A unit at the former was sold earlier this year at a record-breaking $1.1 million. One of the first DBSS projects which became eligible for resale in 2014 was The Premiere in Tampines.
Now could be the time for DBSS to take their time in the limelight as new HDB flats are incorporating more design features and condominium-like facilities and facades. Property analysts are expecting the DBSS gloss to lose its shine in about 10 years’ time.
