DBSS Tampines

DBSS Tampines

Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.

Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.

Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.

The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.

DBSS projects are open to households earning a combined income of up to S$10,000 a month.

Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.

Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."