Response To Walk-In-And-Buy Phase Of Centrale 8 Below Expectations

[neubie 2]

SINGAPORE : Response appears to be weak at Saturday's walk-in-and-buy phase of Centrale 8 flats.

The project in Tampines falls under the Design Build and Sell Scheme (DBSS) and has recently drawn flak for the high pricing of units.

The initial price set a record S$880,000 forfive-room flats, but developerSim Lian Group said it was an 'indicative price' and lowered it to S$778,000.

When doors opened for the walk-in phase at 10am, only about 20 people turned up.

Analysts said that's way below expectation compared to other DBSS projects, given also that units were sold on a first-come-first-served basis.

They also said the response could be due to the government's move to stop land sales for now under DBSS projects, leading to uncertainty over property values for this sort of public housing in future.