17 Jun '11, 10am

Will you pay $880,000 for a HDB flat? #Singapore

Will you pay $880,000 for a HDB flat? #Singapore

A five-room HDB flat at Centrale 8 in Tampines has been put on the market for a whopping S$880,000 (around $750 psf), the priciest new public flat to be released for sale under the Design, Build and Sell Scheme (DBSS) so far. This comes amid efforts by National Development Minister Khaw Boon Wan to prevent further increases in the price of public housing by launching up to 25,000 units this year. Measuring between 1,163 sq ft by 1,173 sq ft each, the 178 five-room units at the project cost nearly twice as much as standard flats sold in the recent Build-To-Order (BTO) project in Tampines , where a 1,216 sq ft flat cost up to S$444,000. Mohamed Ismail, chief executive of PropNex, said that though the flats were built by Sim Lian Group under the DBSS, the price tag is still higher than any executive condominium. He admitted that he did a double take when he first heard about ...

Full article: http://sg.news.yahoo.com/blogs/property-blog/pay-880-000-...

Tweets

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