Bishan HDB flat sold for $1.45 mil, setting new record for executive maisonettes

A record-breaking sale price of $1.45 million was attained by an executive maisonette unit at 278 Bishan Street 24 earlier this month, making it the most expensive maisonette to date. Situated on the 19-21 floor of the 21-storey HDB block and with a floor area of 1,851 sq ft, the unit commanded a per square foot price of $783. The 67-year lease still remaining on the 99-year lease was an attractive factor for interested buyers.

Property firm Huttons Asia’s Eugene Tay closed the deal and was the previous record holder for the most expensive maisonette at 1,641 sq ft at Toh Yi Drive. Closed back in December 2022, the unit accrued a sale price of $1.3 million at $805 psf.

Often sought after due to their double-story size between 1,582 sq ft and 1,722 sq ft, maisonettes usually comprise of three bedrooms, a living room, dining room, kitchen and, in the master bedroom, an en suite bathroom.

As the HDB has since 1996 stopped building maisonettes, their rarity further adds to their desirability. Se Teck Lee, senior director of data analytics at Huttons Real Estate, believes that the sale price achieved could be “a one-off” given the scarcity of such units.

Not only did this block at 278 Bishan Street 24 create a new record, three other maisonettes in Bishan also crossed the $1 million mark in the same month. One of which at 401 Sin Ming Avenue was a 1,604 sq ft low floor maisonette selling for $1,008,888, with 61 years remaining on the lease. And another 1,572 sq ft unit at 146 Bishan Street 22 and another similar-sized unit at 13 Bishan Street were sold for $1.165 million and $1.188 million respectively.

A new record was also set for the Natura Loft, a 480-unit HDB development built under the Design, Build and Sell Scheme (DBSS). A five-room unit located at Block 273B occupying 1,292 sq ft on the 34-36 floor was sold for $1.43 million – the highest concluded transaction to date. It supersedes another five-room flat sold in June at the same development for $1.4 million.

Senja Close EC Bukit Panjang provides buyers with a number of financing options. Buyers can access funds from their CPF Account, housing grants from the government, and bank loans. The project also has a special HDB concessionary loan scheme which will reduce the weight of financing on your shoulder. With the help of the financing options, buyers can find it much easier to purchase a unit at Senja Close EC Bukit Panjang and become the proud owners of their dream homes.

It was not the only million-dollar transaction at Natura Loft in September, with another unit at Block 273A at a lower floor selling for $1.3 million.

The recent surge of high-priced maisonettes and flats at Natura Loft displays the demand for such properties and their versatility across the heartlands of Singapore.

Maisonettes come with a rare double-storey floor plan and with the announcement of the record-breaking sale at 278 Bishan Street 24, similarly-sized units could also be expecting to reach similar heights. With the HDB no longer building them, their scarcity will only further drive the demand for these premium housing units.