Resale prices for HDB flats in Singapore have continued to rise, with more and more units crossing the six-figure mark.
In June, a five-room flat in Bishan changed hands for S$1.4 million, breaking the record for the highest resale price in the area.
The unit sits on a high floor and has a remaining lease of 87 years and three months.
According to a report on Data.gov.sg, the address of the five-room HDB flat is 273A Bishan Street 24.
This is the location of Natura Loft, a Design, Build and Sell Scheme (DBSS) development with 480 units across three separate residential blocks.
Source: Google Maps
The S$1.4 million unit was sold this month and is located between the 28th and 30th floors.
It has a floor area of 120 sqm and has 87 years and three months left on its lease.
SRX notes that the development is popular due to its central location — near Bishan and Marymount MRT stations — and panoramic views, especially from the higher floors.
It’s also close to educational institutions like Teck Ghee Primary School, Catholic High School, and Townsville Primary School.
Lianhe Zaobao noted that this transaction surpasses the record for the highest resale price in the neighbourhood.
The previous record was also set by the sale of a unit in Natura Loft. In March, another five-room between the 34th and 36th floors changed hands for S$1.39 million.
Hutton Group’s Senior Director of Research, Lee Sze Teck, told Lianhe Zaobao that 19 HDB flats in Bishan fetched at least S$1 million in the first half of the year.
A total of 369 HDB flats were sold for S$1 million or more in 2022.
As of Tuesday (27 June), that number stands at 193 for this year alone.
Thus, he expects there will be somewhere between 380 and 400 million-dollar HDB resale transactions for 2023.
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Featured image adapted from Stacked Homes.
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