Bishan HDB unit sold for $1.45 million, breaking the previous record for executive maisonettes

In the last month, an HDB executive maisonette at 278 Bishan Street 24 has been sold at a record cost at $1.45 million, making it as being the priciest executive maisonette to the present. The property covers an size of 1,851 sq feet and is situated on the 19-21 floors in the 21-storey HDB block. The price paid is $783 per square foot. The block was finished in 1992. The unit is still 67 years on the 99-year lease. The deal was signed with the help of the Huttons Asia’s Eugene Tay.

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The previous record price for a house was in December 2022 when a 1,641 sq. ft apartment located at Toh Yi Drive located off Jalan Jurong Kechil, fetched $1.3 million which was calculated using EdgeProp Singapore’s Landlens tool. The price was $805 per square foot.

Maisonettes are sought-after since they are typically double-storey and measuring between 1,582 sq feet and 1,722 square feet. They comprise three bedrooms: one master bedroom that has an ensuite bathroom, two bedrooms that share a bath as well as a living room with a dining area and kitchen.

Maisonettes are scarce because the HDB has stopped creating these types of homes. They’ve been replaced with executive condominiums (ECs) that are a hybrid of private and public housing condos, since.

Lee Sze Teck, senior director of data analytics at Huttons Real Estate, says the block that is located at 278 Bishan Street 24 contains 68 four-room flats, and just eight maisonettes. He believes the deal “could be an one-off” due to the limited availability of these properties. The property could be a penthouse executive with uninterrupted views of the surrounding area and is close to the Ang Mo Kio-Bishan park.

The maisonette located situated at 278 Bishan Street 24 established a new record in Bishan, three other homes in Bishan also reached 1 million in the September. One of them was a 1,604 sq feet of maisonette located on a low floor (levels 1 through 3) located at the 401 Sin Ming Avenue that was sold for $1,008,888. The block was built in 1985. The property is still 61 years under the lease of 99 years. A second maisonette measuring 1,572 square feet at Bishan Street 22 at Bishan Street 22 sold for $1.165 million. A similar-sized property located at Bishan Street 13 is purchased at $1.188 million.

The other side of on the same street Natura Loft, which is a one-of-a-kind 480-unit HDB development that was built in the Design, Build and Sell Scheme (DBSS) located at Bishan Street 24 also saw an all-time record set this month. The record was established when a five-room unit that occupied 1,292 square feet located on the 34-36 floors of Block 273B sold in the amount of $1.43 million. It was the highest price that has been recorded at the building in absolute value. This record previously belonged to a five-room house that was sold for $1.4 million during June.

Natura Loft also saw another million-dollar sale in September. One of the units in Block 273A, which is located on a lower floor was sold at $1.3 million.