Adora Green - First DBSS in Yishun

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Adora Green - 1st DBSS at Yishun

First DBSS in Yishun is launching in first quarter of 2011. Design, Build and Sell Scheme (DBSS) - Premium lifestyle at an affordable price. Conveniently located at the junction of Yishun Central and Yishun Ave 11, amenities is just mins away... Relax with a brisk walk at the Yishun park, fun outings with your love one at the beautiful Yishun pond, shop at the Northpoint Shopping centre, catch a movie at Yishun 10 and many more activities in this revitalize town. Travelling to town is easy too with Yishun MRT station just mins away. From Yishun MRT station, you can get to Orchard MRT station in 23 mins and Dobby Ghaut in 28 mins.

Developer :

Guthrie SK Land Pte Ltd

Address:

Yishun Avenue 11 / Yishun Central

Tenure :

Leasehold 99 Years

Site Area :

Approx 27,474sqm

Number of units :

Approx 800

Number of blocks :

6 blocks of 16 storey flats with 2 levels of integrated carpark

Expected TOP:

August 2014

Unit Type:

3 Room (67sqm)
4 Room (92sqm)
5 Room (112sqm)

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Register your Interest
Adora Green is fully sold, you may want to register your interest for other DBSS. Leave your contact with us and we will get in touch with you.
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First Timer:	Yes No
Preferred Room Type:	3 Room 4 Room 5 Room
Other DBSS:	Belvia Lake Vista Parkland Residences Pasir Ris One Trivelis
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Frequently Asked Questions (FAQ)

Q1) What are the differences between BTO (Build-to-Order), DBSS (Design, Build and Sell Scheme) and EC (Executive Condo)?
A1) BTO are flats sold directly by HDB, they are usually priced below market value. DBSS are flats develop by private developer and the design will be similar to condo but without the facilities. DBSS flats are usually priced above resale HDB flats around the same area. EC are similar to private condos but subjected to HDB rulings, EC are usually priced below private condos and above resale HDB flats around the same area.

Q2) My wife and myself are Singapore Permanent Resident, can we buy a DBSS?
A2) No, you need to form a family nucleus of at least one Singapore Citizen (SC) and another Singapore Permanent Resident (SPR). In other words, the family nucleus need to be at least SC+SC or SC+SPR. Read more about Promoting Citizenship in HDB Households.

Q3) Can I use HDB loan for DBSS?
A3) Yes, you can use hdb loan for DBSS if your monthly household income is below $8000.

Q4) My household monthly income is $9,000, can I buy DBSS?
A4) Yes, you can buy DBSS that are launched after 31 Aug 2010 (eg Adora Green) as your household monthly income is below $10,000. However, you can only use bank loan for the financing of your DBSS.

Q5) My household monthly income is $10,200, which is slightly above the income ceiling of $10,000, can I apply?
A5) No, as you have already exceeded the income ceiling of $10,000.

Q6) This is my first time applying for a flat and my income is below $8,000. I can wait for 2 to 3 years for my flat to be completed, should I be applying for BTO or DBSS?
A6) There is no quick answer for this and I can only provide pointers to help you to make the decision. Please measure the different pros and cons before making the decision. Your first home is an important long-term commitment; if you are unable to make a decision after weighing the pros and cons, do speak to your relatives, friends and real estate agents.

Usually, the 2 key considering factors are price and location. Price is fixed and you can't change, thus you only need to work out your budget (cash and CPF) and find a home within this range. Location may be a more difficult decision to make. Usually, the preferred location is near MRT station. Singapore is well-connected by the MRT lines, thus staying near MRT station would means that you can travel easily within Singapore. Of course, any home that is near MRT station will be higher priced than those that is not near MRT station. A lot of buyers may stretch their budget just to get a home that is near MRT station. Other preferred locations are staying near parents or workplace.

Pricewise, BTO is most attractively priced compared to both DBSS and EC. If there is a BTO, which is conveniently located for yourself, this should be your first choice. Usually BTO with good location tends to be oversubscribed (many buyer bidding for 1 single unit), and thus you may not be selected even after several attempts. If location is not a key consideration factor, you should then consider the less popular BTO.

However, if you have been trying many times for BTO but still fail to secure a unit yet, you may want to consider a DBSS (Adora Green). Or if you have the budget and want a premium design flat, then you should go for DBSS (or even an Executive Condo). Read on to understand "Why should I buy Adora Green?".

Q7) Why should I buy Adora Green?"
A7) Adora Green is located in the heartland of Yishun, it is only mins to Yishun MRT Station. It is surrounded by parks and ponds, which make it a tranquil place to live in.

Yishun is undergoing "Enriching my Yishun" program and it will be enriched with new upgrading programmes, bringing new vibrancy to the town centre and creating more outdoor facilities for residents to enjoy. Upcoming projects include "new shopping complex integrated with housing, bus interchange and town plaza" and "Yishun pond redevelopment". These are only part of the enriching my Yishun program, there will be more development to be done.

According to URA website, Enhancing Transportation Linkages and Accessibility, a new 27km Thomson MRT Line (TSL) will run from Woodlands to the heart of Marina Bay, complementing the North-South Line and serving areas that do not currently have direct MRT links, such as Sin Ming, Kebun Baru and Thomson. Residents staying in the North will be expecting quicker road trips with a new 21km North-South Expressway (NSE) complementing the CTE, providing additional capacity to serve the expected increase in travel demand along the north-south corridor. The NSE is expected to cut travelling time to the city by 30 percent. A new road connecting Yishun Ave 7 to the CTE and TPE is proposed. It will provide residents of the North, especially Yishun, an alternative route to surrounding expressways.

Though the actual pricing of Adora Green is not known yet, it is likely to range about 20-25% higher than surrounding flats. However, for this slightly higher pricing, you are getting a flat that is developed by private developer; You can be assured of premium design and quality finishing from a private developer. Moreover, DBSS is furnished with build-in wardrobes, kitchen cabinet and even air-conditioning (for Adora Green). In other words, you do not need to fork out additional cash for renovation, not even COV or agent commision.

Q8: Can I use my CPF monies to pay the full 20% downpayment for the purchase of Design, Build and Sell Scheme (DBSS) flats when signing the Sale and Purchase Agreement with the Developer?
A8: For purchase of DBSS flats, buyers are required to pay an option fee equivalent to 5% of the purchase price in cheque/cashiers order when they sign the Option to Purchase (OTP) with the developer. However, upon signing the Sale and Purchase Agreement with the developer and paying the balance 15% downpayment, the option fee for DBSS flats can be reimbursed with CPF monies if buyers have sufficient monies in their CPF Ordinary Account. This arrangement is only applicable for those buyers taking an HDB loan or those who are not taking a loan.

Q9: What about buyers who are taking a bank loan, can they use their CPF monies for the full 20% downpayment under the Design, Build & Sell Scheme (DBSS)?
A9: Buyers who are taking a bank loan to finance their property purchase would have to make cash downpayment of at least 5% of the VL. If buyers have an existing housing loan with either HDB or any financial institution regulated by the Monetary Authority of Singapore (MAS) at the time of property purchase, buyers would have to make a higher cash downpayment of at least 10% of the VL. The balance of the downpayment, after the buyers have made the required cash payment, can be paid using CPF monies.

Q10: If I qualify for HDB concessionary loan, how much CPF can I use to purchase a Design, Build and Sell Scheme (DBSS) flat?
A10: You can use your Ordinary Account savings and future monthly CPF contributions in this account to buy a DBSS flat and/or to pay the monthly installments of the HDB loan up to the Valuation Limit (VL). If your housing loan is still outstanding when your total CPF usage has reached the VL, you may withdraw further CPF savings if you can set aside the prevailing Minimum Sum cash component (for members below 55 years old), or the Minimum Sum cash shortfall (for members 55 years old and above).

Q11: Can I use my CPF to purchase a Design, Build and Sell Scheme (DBSS) flat?
A11: Yes. You may use your CPF savings to buy a DBSS flat. However, the cash difference between the purchase price of the flat and your CPF savings and your housing loan has to be paid first before your CPF savings can be released. If you are using your CPF savings for progressive payments, you can reserve your CPF savings for future progressive payments, when you first submit the application to use CPF for DBSS flats.

Q12: If I am taking a bank loan, how much CPF can I use to purchase a Design, Build and Sell Scheme (DBSS) flat?
A12: You can use your Ordinary Account savings and future monthly CPF contributions in this account to buy a property and/or to pay the monthly installments of the bank loan up to the Valuation Limit (VL). If your housing loan is still outstanding when your total CPF usage has reached the VL, you may withdraw further CPF savings up to the applicable Housing Withdrawal Limit, if you can set aside the prevailing Minimum Sum cash component (for members below 55 years old), or the Minimum Sum cash shortfall (for members 55 years old and above).

Q13) I am a first timer and I am eligible for 90% HDB loans, how much do I need to prepare for buying an DBSS?
A13) For purchase of DBSS, you need to pay 5% option fee upon booking and 15% for downpayment. For HDB loans, you may be eligible to loan up to a maximum of 90% of the purchased price (subjected to HDB approval). You may also be eligible for CPF housing grant of maximum $40k and Additional CPF Housing Grant of maximum $40k, which can be used to offset the initial 15% downpayment.

The initial payments to be made are:
i) Option fee (cash only) - 5% of purchase price upon booking. (Cash only but reimbursable from own CPF, see here)
ii) Stamp duty (cash or cpf) - [ (3% x purchase price) - 5400 ] (for purchase price above $360,000)
iii) Downpayment (cash or cpf or partial HDB loan) - 15% of purchase price
iv) Remaining 80% will usually be paid by progressive payment financed by your loan. The monthly installment can be deducted from CPF (if there are sufficient CPF) and the amount will be determined by the loan quantum, loan tenure and interest rate.

Example, the intital payments for $450,000 4 room flat.
i) Option fee (cash only) - $22,500
ii) Stamp duty (cash or cpf) - $8,100
iii) Downpayment (cash or cpf or partial HDB loan) - $67,500 ($27,500 if eligible for $40k CPF housing grant)

Q14) After making the intial downpayment, when is the next payment?
A14) For DBSS project, the developer will offer progress payment to buyers, whereby the loan (HDB or Bank loan) will be disbursed progressively to meet the progress payments during the construction period. Buyers will commence payment of their monthly instalments once the loan is disbursed under the Gradual Repayment Plan i.e. the instalments will be calculated based on the amount of loan disbursed over the outstanding loan duration. The instalment amount will comprise both interest and principal. Below is an estimated progress payment and meant for your reference.

DBSS land sales suspended, under review

Jul 5, 2011 - PropertyGuru.com.sg

The government has suspended future land sales under the Design, Build and Sell Scheme (DBSS), pending its review, according to National Development Minister Khaw Boon Wan.

"We are reviewing (the) DBSS scheme. Meanwhile, I have suspended future DBSS land sales," said Khaw on his Facebook page.

"However, a few DBSS land sites sold last year, like the Centrale 8 site, will launch their sales in next few months," he said. "These are old tenders beyond my control."

He noted that the Ministry of National Development (MND) and the Housing and Development Board (HDB) are reviewing the scheme, during which the "HDB will not proceed with the sale of the Bendemeer Road site originally scheduled in 1H 2011."

Since 2005, 13 sites have been sold to private developers under the scheme, which aims to provide flat buyers better value-for-money, as well as offer further improvement in building and design. Under the scheme, developers tender for land sites and have flexibility in designing, selling, and pricing the flats.

"The DBSS did play two functions then: number one, to cater to the sandwich class — those people whose income were above S$8,000 and did not qualify for BTO (build to order) flats," said Mohamed Ismail, Chief Executive of Propnex.

Secondly, "it allowed, during 2005 — when the economy was not doing well — the developers an opportunity to build homes, with better design as well as architectural initiative being thrown in."

DBSS flats comprise less than one percent of the entire HDB flat supply. However, they came under fire recently after Sim Lian Group, the developer of the Central 8 DBSS project, set an asking price of around S$880,000 for five-room flats in the project.

"But today, six years later, I think the climate and the background have totally changed," noted Ismail.

Analysts pointed out that DBSS flats may not be relevant today, as the government’s current policy is to provide affordable housing to the public.

Tampines DBSS project two times oversubscribed

Thu, Jun 23, 2011 AsiaOne

The controversial expensive Design, Build, and Sell Scheme project at Tampines, Centrale 8, has been two times oversubscribed.

1,431 applications were received for the 708-unit project by the deadline on Tuesday.

This is despite the hullabaloo created by the indicated price earlier announced by property developer Sim Lian Group, who said during the launch that the biggest 5-room flats will cost up to $880,000.

It has since slashed the prices by up to $102,000, bringing the maximum price down to $778,000.

The Straits Times reported that this news surprised some industry observers, who said that the number of times a project is over-subscribed is not a good indicator of how well it will actually sell eventually.

PropNex Chief Mohamed Ismail told the paper that it is more likely that that people are hoping to buyer lower-end units within their price range, and that if they are offered a flat beyond their budget they will reject it.

Similarly, when the first DBSS project was launched, also by Sim Lian Group, the 616-unit Premiere@ Tampines received 5,700 applications. However, only 500 flats were sold initially, although, as the Straits Times reported, there were long queues when the remaining units went up for sale.

Price of Centrale 8 DBSS flats lowered

by Esther Ng 06:07 AM Jun 22, 2011 TodayOnline

SINGAPORE - Centrale 8's developer has reduced the prices of its Design, Build and Sell Scheme flats (DBSS), possibly "caving in" to public pressure, property analysts told MediaCorp.

The most expensive five-room flat is now S$778,000, down from S$880,000.

While Sim Lian Group reiterated yesterday that its initial prices were only indicative, ERA Asia Pacific associate director Eugene Lim pointed out: "When developers reveal their price range, it's usually quite close. For instance, (the previous DBSS project) Adora Green's selling prices were exactly their indicative prices."

SLP International executive director of research and consultancy Nicholas Mak said: "Like any business, they took the risk - they wanted to see if the market would respond positively to their prices or not."

Sim Lian said last week it the premium cost was due to the project's location in Tampines Regional Centre with mature amenities, and the promixity to Tampines MRT station and the future Downtown Line 3 MRT interchange.

In a press release yesterday, Sim Lian Group chief executive officer Kuik Sin Pin said the new price range was decided based on the resale prices, age and location of HDB flats in the same vicinity, prevailing economic conditions and proximity to transport networks and good public facilities.

ERA's Mr Lim said Sim Lian could have been "genuinely pressured" to adjust the pricing.

He added, "The Minister himself said that if you price it too high, no one will want to buy from you."

However, Suntec Chesterton International head of research and consultancy Colin Tan felt that in all probability, the developer would have offered home buyers a discount to its indicative price range. Now, he said, Sim Lian will be making a smaller profit.

The developer did not say how many applications it received when the deadline closed yesterday.

But Mr Lim reckons that the flats are still "pricey": "Usually, the premium above a resale flat for a DBSS is between S$100,000 to S$150,000."

Analysts pointed out that Tampines is a more popular mature estate compared to Yishun, where the lower-priced Adora Green, which is 96 per cent sold after its February launch, is located.

"Centrale 8 not only has the amenities and conveniences, but offers high rental value - this could add five to 10 per cent more in pricing," said Cushman & Wakefield vice-chairman Donald Han.

Mr Mak had another take: "Sim Lian probably thought it had no competition, as there's not much land in Tampines for the Government to launch BTOs."

Centrale 8 pricing

by Esther Ng

Centrale 8' Indicative Prices

Three-Room $397,000 to $510,000

Four-Room $531,000 to $683,000

Five-Room $685,000 to $880,000

Confirmed Price Range

Three-Room $389,000 to $445,000

Four-Room $511,000 to $592,000

Five-Room $685,000 to $778,000

Don't compare DBSS flats with regular ones: Khaw

June 19 2011 - The Straits Times

FOLLOWING the stir caused by the recent high prices of a Design, Build and Sell Scheme (DBSS) development launched by a private developer, National Development Minister Khaw Boon Wan sought to explain the difference between DBSS developments and HDB flats.

In his latest blog entry on Saturday afternoon, he said that price control was not a term of the contract when private developers tender for the site, and buyers can choose to walk away from the purchase.

Mr Khaw wrote that on his part, he is ramping up BTO (Build-To-Order) launches and working on pricing them appropriately.

The DBSS development in question - Centrale 8 by developer Sim Lian, to be located in Tampines - will set a buyer back $880,000 for a five-room unit. This amounts to $750 psf, typical of suburban condominiums. The social media scene was abuzz following the news. The discussion thread on straitstimes.com garnered 116 comments in one day, mostly negative.

Here is the start of Mr Khaw's latest blog entry titled 'DBSS Is Not HDB': 'A private developer's DBSS launch in Tampines, with the upper end of the 5 room units priced at $880,000, caused a stir in the social media. The negative reaction was not surprising. DBSS is a class of housing type between HDB flats and Executive Condos (EC)/private condos. It forms a tiny portion of the total housing options for Singaporeans.

'While HDB flats are designed and priced by HDB, DBSS flats are designed and priced by private developers. If the private developer prices it too high and there are no takers, there will be no sales. Netizens would like MND (Ministry of National Development) to come in and tell the private developer to cut its price.

When they tendered for the land, price control was not a term of the tender. If contracts, after they are awarded, can be varied arbitrarily, this will damage Singapore's reputation as a business hub, with severe repercussions.

To read the rest of Mr Khaw's blog post, go here: http://mndsingapore.wordpress.com

Unit prices for DBSS project in Tampines hit record high

By Liang Kaixin | Posted: 16 June 2011 2322 hrs ~ Channel News Asia

SINGAPORE: Would you pay S$880,000 for a new HDB flat? That is the top price for a five-room unit at Centrale 8, the new Design-Build-and-Sell-Scheme in Tampines and it sets a new record, surpassing prices of some resale flats in the area.

Tampines DBSS Centrale 8 perspective

Launch prices for five-room units range between S$685,000 and S$880,000. At 108 square metres, these are smaller than most new HDB flats, but potential customers said the units are better designed.

Centrale 8 is located near Tampines town centre, near upcoming developments. Its sales launch saw about 300 customers on Thursday morning. Applications for its 708 units close on June 21.

The National Development Ministry told Channel NewsAsia that the developers of DBSS projects have to ensure prices are affordable, and comparable to new HDB projects and the resale and private markets.

DBSS projects are open to households earning a combined income of up to S$10,000 a month.

Prices of Centrale 8 units are about twice that of an earlier DBSS project launched in Tampines five-years ago by the same developer. The developer said actual prices will be determined in July, when applications are processed.

Kuik Sing Beng, Executive Director at Sim Lian Group, said: "Five years ago, there was no announcement of the new Downtown Line interchange, as well as the new lifestyle hub. Comparatively, they can still afford a condominium in the suburban area, but this is very well-located, with all the new amenities. So I think the prices are reasonable."

Latest Updates

22 Jul 2012 -
Thank you for your interest, Adora Green is fully sold !!!

Other DBSS available, book before they are gone.

04 Jun 2012 -
Last 8 units of 3 rooms. Prices from $335,700. Chinese quota filled.
Showflat closed, please contact the sales team at 9012 2228 for more information.

Affordability:
Purchase price: $335,700

5% booking fee : $16,785
(Cash only)

15% downpayment : $50,355
(Cash/CPF/Grant/Partial loan)

less First Timer Grant ($30k/$40k)

NO COV !!!
NO AGENT FEE !!!
MIN RENOVATION !!!
NO RESALE LEVY !!!
1st TIMER GRANT !!!

MOST AFFORDABLE DBSS !!!

13 Apr 2012 -
Last 12 units of 3 rooms. 5 Dec 2011 -
4rm and 5 rm fully sold. Limited 3rm available only (from $329,700). Chinese quota filled for all blocks.

Showflat closed, please check with our sales team on the available units, pricing and photos of the showflats.

1 Nov 2011 -
Less than 30 units available now. 4 room from $451,500 and 3 room from $323,700.

1 Aug 2011 -
1 Chinese quota available from Block 348A: #03-545, #03-549, #03-551.

Units availability
3 rooms - Level #03 to #06
4 rooms - Level #02 to #03
5 rooms - Fully sold

5 July 2011 -
DBSS land sales suspended, under review.

20 June 2011 -
Units available only for Malays, Indians and other races. Balance of 30+ units, book now before they are all gone. 3 room income limit is $10k. Make an appointment now.

Chinese quota filled !!! Register your interest for upcoming DBSS.

1 May 2011 -
Adora Green over 90% Sold !!!

5 rooms fully sold.
4 rooms (low floor) available.
3 rooms available. Income limit for 3 rooms (DBSS) is 10k

(same as 4 and 5 rooms).

15 Apr 2011 -
Adora Green 88% Sold !!!
Open for walk-in-selection (first-come-first-serve basis) from 16 April onwards.

22 Feb 2011 -
New indicative price range !!!

Indicative price range*:
3 Room : $310,000 to $390,000
4 Room : $420,000 to $520,000
5 Room : $520,000 to $650,000
* Please note that the price range serves as an indication and is subject to changes. We will update when we receive news from the Developer.

18 Feb 2011 - Floorplans available now. Click on the link to view 3 rooms, 4 rooms, 5 rooms.

17 Feb 2011 - Showflat and E-applications will be opened from 25 Feb - 08 Mar (10am-7pm daily). Please come down to see the showflat with the relevant documents for e-application on site.

Make an appointment with me at 9012-2228 (Kelvin) to have a smooth e-application. For the documents required, please contact me as well.

Download the eligibility check and applicants/occupants particulars form here.

07 Feb 2011 - Site plan available now.