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April 8, 2009
Condo-style HDB flats out soon
By Joyce Teo, Property Correspondent
WILL home-hunters spend more than $700,000 on a premium HDB flat with some condo-style features in Toa Payoh? A Hoi Hup-led consortium is about to find out after offering premium five-room flats at its new The Peak project for up to $722,000.
Analysts question whether HDB flatbuyers will bite, given that they are constrained by an $8,000 a month income ceiling and are dealing with a recession.
Next Wednesday, The Peak @ Toa Payoh, boasting 1,203 units in two 42-storey blocks and three 40-storey blocks, will be launched.
The project, at Lorong 1A Toa Payoh, comes under the design, build and sell scheme (DBSS), and offers premium fittings. But unlike private condos, these projects do not have facilities such as pools and gyms and are not gated.
The smallest units - 95 of them - are the 753 sq ft three-room flats. They are priced from $355,000 to $398,000.
The 306 four-room flats of 980 sq ft will go for $468,000 to $582,000.
The next rung up the price ladder are the five-room flats, which mostly go for $539,000 to $698,000, and range from 1,184 sq ft to 1,259 sq ft.
The priciest of the lot are the 24 five-room high-ceiling flats costing between $700,000 and $722,000. The developer - a group comprising Hoi Hup Realty, Sunway Development and Hoi Hup J.V. Development - said the flats are about $500 psf to $510 psf on average. A quick calculation shows the price can go up to $594 psf.
April 8, 2009
Condo-style HDB flats out soon
By Joyce Teo, Property Correspondent
WILL home-hunters spend more than $700,000 on a premium HDB flat with some condo-style features in Toa Payoh? A Hoi Hup-led consortium is about to find out after offering premium five-room flats at its new The Peak project for up to $722,000.
Analysts question whether HDB flatbuyers will bite, given that they are constrained by an $8,000 a month income ceiling and are dealing with a recession.
Next Wednesday, The Peak @ Toa Payoh, boasting 1,203 units in two 42-storey blocks and three 40-storey blocks, will be launched.
The project, at Lorong 1A Toa Payoh, comes under the design, build and sell scheme (DBSS), and offers premium fittings. But unlike private condos, these projects do not have facilities such as pools and gyms and are not gated.
The smallest units - 95 of them - are the 753 sq ft three-room flats. They are priced from $355,000 to $398,000.
The 306 four-room flats of 980 sq ft will go for $468,000 to $582,000.
The next rung up the price ladder are the five-room flats, which mostly go for $539,000 to $698,000, and range from 1,184 sq ft to 1,259 sq ft.
The priciest of the lot are the 24 five-room high-ceiling flats costing between $700,000 and $722,000. The developer - a group comprising Hoi Hup Realty, Sunway Development and Hoi Hup J.V. Development - said the flats are about $500 psf to $510 psf on average. A quick calculation shows the price can go up to $594 psf.
