Natura Loft is a five-room apartment in Bishan. This project, which is a Design, Build and Sell Scheme (DBSS) recently, hit the headlines in the media for becoming the priciest resale deal in public housing development. This is according to the news reported on The New Paper. Joey Chan, of Singapore Realtor Inc. is the seller’s agent who mediated the deal.
According to Joey Chan, the buyer paid whoping $1.18 million for Natura Loft unit. The pricey deal for this five-room apartment in Bishan was based on the fact that it was located in very convenient place and had a wonderful surround view. Spacious interior is another attractive feature of these flats. The floor area in these flats is bigger than a normal 5 room apartment. Usually, a five-room apartment has 110 sq m. area; however, this apartment has 120 sq m area. In this 480-unit project, there are only 12 penthouses, and this is one of them.
The deal was closed at the end of January. It was not only the highest resales deal in the public housing development, but also made a record that busted all the preceding records made by DBSS flats in the Pinnacle @ Duxton. In August, a DBSS unit in City View @ Boon Keng was sold for $1.1 million.
Likewise, in September, a Pinnacle flat was sold at $1.12 million. The original price listed for the five-room flat at Natura Loft ranged between $590,000 and $739,000. Similarly, the four-room flats had a price tag of $465,000-$586,000.
Interestingly, when the five years Minimum Occupation Period ended, 11 five-room flats were resold for $830,000-$1.04 million, and 14 four-room flats were purchased at $700,008-$818,000. These flats are not reselling for more than they worth. In fact, the resale prices for expensive DBSS units in Bishan are in line with the real estate market prices.
However, R’ST Research Director Ong Kah Seng says that these resale prices do not correspond to the resale market because the prices still remain low in the market. Watercove Ville is the newest development that flaunts waterfront features, a resort like residences that is worth investing for family’s future.