Although National Development Minister Khaw Boon Wan hopes for a single-digit drop in HDB resale prices in 2015, a 1,615 sq ft executive maisonette along Bishan Street 13 recently transacted at an eye-popping price tag of $1 million in December, revealed media reports.
Notably, the Bishan area is no stranger to such million-dollar deals. According to experts, the demand for HDB resale flats there is high due to its strategic location in central Singapore, proximity to reputable schools, a selection of spacious flats which are rare in the central region, and the fact that the estate is well-maintained. In addition, resale flats in Bishan are generally newer than in other mature estates.
Here’s a quick look at four other resale flats around Singapore that hit the one million mark in the last few years:
1. In October last year, a 1,615 sq ft executive maisonette in Bishan Street 13 changed hands for nearly $1.09 million. The 27-year-old two-storey unit is located at Block 194 near a 24-hour food centre and supermarket.
2. Another similarly-sized executive maisonette near Bishan MRT station was sold for $1.05 million at the end of 2013, translating to a whopping cash-over-valuation (COV) of $250,000. Situated on the 20th floor of Block 190, the flat was listed on PropertyGuru for about one month and piqued the interest of three other buyers willing to spend over $1.05 million.
3. A 2,863 sq ft HDB corner house in Whampoa found a buyer for $1.02 million in 2013. The rare terrace house comes with a garden and is one of just 285 HDB landed properties in Singapore and the fourth such type to be sold for more than $1 million.
4. The first HDB flat to reach this dizzying price level was an executive apartment at Block 149 Mei Ling Street in Queenstown. The unit was sold for $1 million in 2012 with a COV of $195,000. Sited on a high floor, the 1,615 sq ft unit offers unblocked views of Queenstown stadium and is close to supermarkets and food centres.
Image: Bishan HDB estate. (Photo by mailer_diablo: Wikimedia Commons)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
