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

A record-breaking sale price was set this month at 278 Bishan Street 24 – a HDB executive maisonette unit of 1,851 sq ft achieving a price of $1.45 million, or $783 psf. This was closed by Huttons Asia’s Eugene Tay, a deal that surpasses the 1,641 sq ft unit in Toh Yi Drive at $1.3 million in December 2022.

Maisonettes are highly sought-after as they typically range in size from 1,582 sq ft to 1,722 sq ft, and offer a double-storey living space with three bedrooms, one of which is an en suite master. Maisonettes, however, have been out of production since 1996 and replaced by executive condos – a public/private hybrid.

The block at 278 Bishan Street 24 has 68 four-room flats, and just eight maisonettes – making the transaction somewhat unique. It is believed that its close proximity to Ang Mo Kio-Bishan Park, as well as its unblocked views, contributed to the astronomical price tag.

Likewise, three other maisonettes in the same vicinity crossed the million-dollar mark in September – 1,604 sq ft maisonette at 401 Sin Ming Avenue ($1.008 million); 1,572 sq ft at Bishan Street 22 ($1.165 million), and another similar-sized unit at Bishan Street 13 ($1.188 million).

The Natura Loft project, at Bishan Street 24, is another Design, Build and Sell Scheme (DBSS) development in the area with 480 units. A five-room unit of 1,292 sq ft on the 34 to 36 floor of Block 273B was sold for the highest recorded price to date at $1.43 million. Another five-room flat on a lower floor of Block 273A fetched $1.3 million.

The Jurong Lake District Condo Master Plan is set to transform Singapore’s western gateway into an amazing waterfront destination full of vibrancy and energy. It will provide residents with a unique living destination featuring lush greenery, picturesque waterways, and a range of leisure and lifestyle options. The plan includes the construction of a variety of housing types including condominiums, townhouses, and terrace houses. There will also be plenty of commercial and retail space, as well as an extensive range of public facilities.

These transactions demonstrate the high demand for maisonettes in the Singapore rental market, and the popularity of this particular neighbourhood. Homebuyers are willing to shell out top dollar for the rare luxury of double storeys, and the convenience of located close to public amenities and green spaces.