Category Archives: New Launches

Pinnacle in name, and in pricing too?

Posted on 6 Sep 2009 | Comments Off on Pinnacle in name, and in pricing too?

HDB has 111 units left for sale, and property agents say five-room flats could top $700k
The 50-storey Pinnacle@Duxton will have features seen only in top-end private properties, such as skybridges. — ST PHOTO: ALPHONSUS CHERN

Property agents expect that the remaining 111 units of the iconic Pinnacle@Duxton in Tanjong Pagar, when sold, will make them the costliest public flats ever.

Built by the Housing Board, the 1,848-unit Pinnacle@Duxton is its tallest project at 50 storeys.

It will be completed by the end of the year.

The agents said that in the current property boom, the five-room units, the largest, may well fetch $700,000 or even more.

A likely spillover is that surrounding resale HDB flats will see their value rise appreciably.

The 111 units have yet to be put on sale – HDB could not say when but it did add that the units are a mix of four-room units of up to 97 sq m and five-room types of up to 108 sq m. Continue reading →

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Developers raise price of DBSS flats to ride on property boom

Posted on 5 Sep 2009 | Comments Off on Developers raise price of DBSS flats to ride on property boom

Private developers have raised the prices of HDB’s Design, Build and Sell scheme (DBSS) flats to capitalize on the property boom, this coming days after Minister for National Development Mah Bow Tan conceding that prices of resale HDB flats will continue to rise.

DBSS projects are designed, built and sold by private developers. They offer condominium-style fittings, layouts and facilities but are subject to public housing rules, such as the household income ceiling, ethnic quotas and a five-year minimum occupation period.

As they are not built by HDB, the prices are set entirely by the private developers who are in the business to make a profit in the first place.

The prices of flats at Natura Loft at Bishan and The Peak@Toa Payoh have risen by up to 3 per cent, or $20,000. Current prices, which average at $500 psf are only slightly lower than prices of completed mass market condominiums in the suburbs such as Orchid Park condominium and the Seletaris in Sembawang. Continue reading →

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