In Singapore, record-breaking sales of HDB properties, while not commonplace, are not entirely unheard of. Earlier this year, a 4-room flat in Tiong Bahru exchanged hands for a staggering S$1.5 million. Now, yet another groundbreaking sale has occurred — this time for an executive maisonette unit in Bishan.
Sold for S$1.45 million, it has become the most expensive executive maisonette unit to date.
With a floor area of 1,851 sq ft, this translates to the apartment costing S$783 per square feet.
In a report on the sale, Edgeprop explained that maisonettes are in demand as they have two storeys, typically equating to a size between 1,582 to 1,722 square feet.
The units come with three bedrooms as well — a master bedroom with an en suite bathroom and the other two sharing a common bath.
In addition to the bathroom, there are the living area, dining room and kitchen.
Maisonettes are also rare, owing to the fact that HDB is no longer building them. Executive condominiums have taken their place since 1996.
Located on the 19th to 21st floor of the 21-storey Block 278 at Bishan Street 24, the unit involved in the record-breaking sale spans 1,851 sq ft, costing S$783 per feet.
Source: Google Maps
As construction of the block concluded in 1992, the maisonette has 67 years left on its 99-year lease.
The previous record-breaking sale for a maisonette was for a 1,641 square feet unit at Toh Yi Drive, off Jalan Jurong Kechil.
The unit fetched S$1.3 million, achieving a sale price of S$805 per square feet.
Speaking to Edgeprop, senior director of data analytics at Huttons Real Estate Lee Sze Teck said that the block at 278 Bishan Street 24 comprises 68 four-room flats and eight maisonettes.
As such, the staggering sale could be a “one-off” due to such units being rare.
He also noted that the unit might be an executive penthouse close to Ang Mo Kio-Bishan Park, with unblocked views of its surroundings.
While it has shattered records for units of its nature, three other maisonettes in Bishan have also exchanged hands for over S$1 million in September.
For instance, a 1,604 square feet maisonette on levels 1 to 3 at 401 Sin Ming Avenue reportedly went for S$1,008,888.
Source: Google Maps
Completed in 1985, it has 61 years left on its 99-year lease.
Another maisonette spanning 1,572 square feet at 146 Bishan Street 22 was reportedly sold for S$1.165 million. A unit of similar size at Bishan Street 13 fetched S$1.188 million.
Natura Loft, a 480-unit HDB development at Bishan Street 24 also had a recent record-breaking transaction involving a five-room unit.
Occupying 1,292 square feet somewhere on the 34th to 36th floor of Block 273B, the apartment was sold for S$1.43 million.
This makes it the highest sale at the development by absolute value, overtaking the previous record held by another five-room flat priced at S$1.4 million in June.
In September, Natura Loft also had another unit on a lower floor of Block 273A sold for S$1.3 million.
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Featured image adapted from Google Maps.
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