City View DBSS Flat Sold At A High Of $1.1m
Fantastic view of the Marina Bay Sands, Sports Hub and the expanse of the sea helped seal the deal for a 28th floor Design, Build and Sell Scheme (DBSS) flat at City View, Boon Keng Road, a District 12 locale. Bought by a couple, they get to enjoy the convenience of the nearby amenities such as shops, restaurants and also the Boon Keng MRT station. Superb firework displays in full view from this City View unit too.
When City View was launched in 2008, the buying price for this flat was estimated at $700,000. Now, sold at $1.1m gives the buyer a tiny profit of over $300,000.
Tampines Premiere DBSS entered the resale market in Tampines in 2014 and City View became the second DBSS development to enter in January 2016.
Before this current unit at City View was sold, 3 other units here have already been resold over the one million price tag.
Owners of public housing will be pleased to know that from January this year, eleven five-room flats and one executive maisonette have been resold for over a million dollars.
The very first Housing Board Development (HDB) flat to start off the million-dollar flat craze was a 5-bedroom unit at Block 149 Mei Ling Street in Queenstown back in 2012. In 2015, a Bishan maisonette was sold for $1.05 million and Pinnacle@Duxton managed to resell 6 units at $1 million and more.
Moving forward, is the benchmark set at $1 million and over for other DBSS developments, one wonders? In July last month, Park Central in Ang Mo Kio started to enter the resale market while the Natura Loft at Bishan will complete its 5-year minimum occupation period (MOP) this month. Another DBSS Parc Lumiere in Simei has been in the resale market since February and the highest fetched so far is $738,000.
It shows that in order to attain the one million price tag, the flat has to have the X-factor on top of its location and quality. In City View’s case, it is the unblock sea view that allows some of the flats there to clinch the $1 million and over benchmark.
(Credit: ST 11 & 19.8.16)