A 32-year-old has placed the highest bid for a Design, Build and Sell Scheme (DBSS) unit at Natura Loft, Bishan.

S$1.07 million bid

Wong Jing Yean's bid of S$1.07 million, which he placed within three days of viewing the flat before the Circuit Breaker period, was reported by The Straits Times (ST) on Sep. 13.

Wong, who is married with two kids, told ST that he needs a "big unit" as they have just started a family. The 1,300 sq ft DBSS flat would have double the space compared with his previous condominium unit at Buangkok.

Regarding the price tag, Wong said that the valuation of the unit was above S$1 million so they are not "significantly overpaying".

According to ST, he also said that paying S$1.07 million for a condo in Bishan would only get them a unit of a much smaller size.

Natura Loft has around 90 years left on its lease.

DBSS flats in Singapore

DBSS flats are public apartments built under HDB's DBSS scheme, according to Property Guru, and are known for their high prices.

Under the DBSS scheme, the flat is purchased directly from the developer and not from HDB.

The flats also have different features from HDB BTO flats (which tend to have a standard layout), so they resemble condo units more than a HDB flats.

There are 13 DBSS projects in Singapore, including Park Central at Ang Mo Kio, Trivelis at Clementi, The Peak @ Toa Payoh and Parc Lumiere at Simei.

According to Edge Prop, DBSS flats have fetched over S$1 million in Singapore.

Previously, a penthouse unit at Natural Loft fetched S$1.18 million in 2017, beating the previous record price set by a five-room DBSS flat at City View @ Boon Keng, which sold for S$1.10 million in 2016.

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Top photo via Alvin Oh/YouTube.