News

Initial prices close to that of suburban condos

Centrale 8, a 708-unit Design, Build & Sell Scheme (DBSS) project in Tampines, was launched in June 2011.

The maximum price initially was $880,000 or about $750 per sq ft, which is a level very close to that of suburban condominiums.

After a public outcry over the high prices, developer Sim Lian Group slashed prices.

The final prices ranged from $685,000 to $778,000 for five-room units, $511,000 to $592,000 for four-room units and $389,000 to $445,000 for three-room ones, according to news reports in 2011. .

DBSS flats were introduced in 2005 to offer greater choice and wider variety to meet the housing aspirations of higher-income flat buyers who want better design and finishes.

While the Housing Board provides broad planning parameters such as the mix of flat sizes and the range of social and community facilities to be provided, the developer is responsible for the design, construction quality and the pricing of the flat.