>

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

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

September 29, 2023 4:28 PM SGT

A maisonette at Block 278 Bishan Street 24 hit a record price of $1.45 million, making it the most expensive maisonette to date (Photo: Google Maps).

SINGAPORE (EDGEPROP) - Earlier this month, a HDB executive maisonette unit at 278 Bishan Street 24 achieved a record-breaking sale price of $1.45 million, establishing itself as the most expensive executive maisonette unit to date. The unit has a floor area of 1,851 sq ft and sits on the 19-21 floor of the 21-storey HDB block. The transacted price translates to $783 psf. The block was completed in 1992, and the unit has 67 years left on its 99-year lease. The deal was closed by Huttons Asia’s Eugene Tay.

The previous record price for a maisonette was in December 2022, when a 1,641 sq ft unit at Toh Yi Drive, off Jalan Jurong Kechil, fetched $1.3 million, based on EdgeProp Singapore's Landlens tool. The unit price achieved was $805 psf.

Maisonettes are sought-after as they are double-storey and typically sized between 1,582 sq ft and 1,722 sq ft. The units have three bedrooms: a master bedroom with an en suite bathroom, two additional bedrooms sharing a common bath, a living area, a dining room and a kitchen.

Read also: Singapore’s million-dollar HDB hotspots

Maisonettes are rare as the HDB is no longer building them. They have been replaced by executive condos (ECs), a hybrid between public housing and private condos since 1996.

Lee Sze Teck, senior director of data analytics at Huttons Real Estate, says the block at 278 Bishan Street 24 contains 68 four-room flats and just eight maisonettes. He says the transaction “could be a one-off”, given the rarity of such units. The unit could be an executive penthouse with unblocked views of the surroundings and close to Ang Mo Kio-Bishan Park.

While the maisonette at 278 Bishan Street 24 has set a new record, three other maisonettes elsewhere in Bishan also crossed the $1 million mark in September. One was a 1,604 sq ft maisonette on a low floor (levels 1 to 3) at 401 Sin Ming Avenue that changed hands for $1,008,888. The block was completed in 1985, and the property has 61 years remaining on the 99-year lease. Another maisonette of 1,572 sq ft at 146 Bishan Street 22 fetched $1.165 million, and another similar-sized unit at Bishan Street 13 was sold for $1.188 million.

Just across the street, Natura Loft, a 480-unit HDB development built under the Design, Build and Sell Scheme (DBSS) at Bishan Street 24, also saw a new record this month. The record was set when a five-room unit occupying 1,292 sq ft on the 34-36 floor of Block 273B changed hands for $1.43 million. It is the highest transaction recorded to date at the development by absolute value. The record was previously held by another five-room flat which fetched $1.4 million in June.

Block 275A Bishan Street 24, part of Natura Loft, a 480-unit HDB development built under the Design, Build and Sell Scheme (DBSS) (Photo: Samuel Isaac Chua/EdgeProp Singapore).

Natura Loft also saw another million-dollar transaction in September. A unit at Block 273A occupying a lower floor sold for $1.3 million.