This 5-room DBSS in Park Central at Ang Mo Kio sold for $1.27m, setting the town record

In November last year, we shared the news of a four-room HDB unit in Ang Mo Kio achieving its first million-dollar transaction for the town. Fast forward to today, we witness yet another record breaking transaction in the town's property market history.

This time, it's a Design, Build and Sell Scheme (DBSS) flat that's taking the spotlight.

The S$1.268 DBSS in question

Closed by ERA's Kingsley Zheng, the property in question is located in Park Central @ AMK, specifically in Block 588C, spanning between floors 13 to 15 within the 30-storey building.

The unit boasts a generous size of 1,292 sq ft, with a price per square foot (PSF) of approximately S$981.41.

According to HDB records, the unit comes with a remaining lease of 86 years and seven months.

A closer look at Park Central @ AMK's location

Residents of Park Central @ AMK benefit from convenient access to a variety of amenities and transportation options.

The development is linked to Ang Mo Kio MRT station via a sheltered walkway, facilitating easy commuting. The station is set to serve as an interchange for the upcoming Cross Island Line and North-South Line, enhancing connectivity to different parts of Singapore.

Families with young children will find the proximity to childcare options and Jing Shan Primary School advantageous. These facilities are located within a short walking distance, providing convenience for parents and smooth transitions between home and school.

The neighbourhood offers a range of daily conveniences, including Cheng San Market and Hawker Center, which offer diverse local cuisines and fresh produce. Additionally, a 24-hour Giant Express supermarket ensures round-the-clock access to essential groceries and household items.

Why pay a premium for this DBSS?

While it's common for DBSS units to cost around S$1 million due to their scarcity and overall convenient location, what really sets this transaction apart is its larger unit size.

Typically, DBSS flats range from 60 to 115 sq m, but Park Central @ AMK has some of the largest DBSS units in Singapore. The only other development with DBSS flats this big is Natura Loft @ Bishan.

DBSS record holder in Singapore

The most expensive DBSS flat currently is a five-room unit at The Peak @ Toa Payoh, which sold for an eye-catching S$1,568,888 on January 26th. This unit is 1,259 sq ft, which works out to about S$1,246 per sq ft.

Compared to Park Central @ AMK, The Peak's units were not only slightly smaller but also cost around S$300,000 more. This equals about a 26.98 per cent difference in PSF.

While it could be said that the buyers in The Peak were willing to pay for the high-floor unit, Park Central @ AMK offers a more affordable option with similar benefits.

Although some units at Park Central might not have the best views due to neighbouring low-rise HDBs, others, like those in block 588C, overlook Cheng San Market, providing a pleasant skyline vista at a lower cost without compromising on amenities.

Is getting a DBSS worth it?

DBSS flats, such as those found in Park Central @ AMK, include features reminiscent of condominiums, offering residents an elevated living experience. These flats come equipped with balconies, study areas, and floor-to-ceiling windows, allowing for ample natural light to illuminate the living spaces.

Compared to standard HDB units, DBSS flats are also typically larger, with four bedrooms instead of the usual three, providing families with more living space and flexibility.

In addition to its spacious interiors, DBSS developments offer a range of common facilities to cater to residents' recreational needs. These amenities may include barbecue areas and multi-purpose sports courts, providing opportunities for leisure and social activities within the community.

Overall, DBSS flats combine the convenience of public housing with the amenities and features commonly associated with private condominiums, offering residents a well-rounded and comfortable living environment.

But is it worth buying when compared to private condos or new launches?

If you're open to investing more than S$1 million in a desirable DBSS flat located in central or city-fringe areas, considering new launch ECs or private condominiums could be worthwhile.

On the other hand, if you're seeking a condo-like apartment with spacious interiors but prefer not to utilise (or pay) for monthly maintenance of condo facilities such as pools or tennis courts, a DBSS resale flat may be a suitable option for you. Living in a mature estate also means you'll have easy access to amenities and conveniences, plus the potential for future price appreciation.

Here is a list of the 13 DBSS in Singapore:

ALSO READ: Bishan's $1.48m HDB maisonette breaks executive flat and estate records

This article was first published in 99.co.