Following the public outcry over the S$880,000 five-room flats at Centrale 8 in Tampines, Sim Lian Group said that the flats will be sold for up to S$778,000, lower than the previous indicative price.
The company, which is developing the project under the Design, Build and Sell Scheme (DBSS), said that confirmed prices for the flats range from S$389,000 to S$445,000 for three-room flats, S$511,000 to S$592,000 for four-room flats and S$685,000 to S$778,000 for five-room flats.
Sim Lian said it considered several factors in pricing the units, including the resale prices of HDB flats in the area, the location and age of the estate and the prevailing economic conditions.
The company came under fire last week after reports showed that the most expensive five-room units at Centrale 8 will be sold at around S$880,000. However, Sim Lian said that it was only an “indicative price” and prices will be confirmed closer to the actual booking date in July.
“It is regrettable that during the application period, the media and members of the public did not take note of our repeated public emphasis that the price range which we had announced was only an indicative price range, and would not be the final sale prices for the respective types of flat units,” it said in a statement.
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