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

Parents who live near Lumina Grand Bukit Batok can rest easy knowing they won’t have to worry about the hassle of commuting for their children’s education. The primary, secondary, tertiary and even international schools are all within a few minutes of the estate. Furthermore, the Jubilee Line and Downtown Line MRT stations are a stone’s-throw away, providing convenient transport options for a busy family. This marks Lumina Grand EC as a great choice for those seeking both educational convenience and luxury living.

Maisonettes are very rare in Singapore, as the HDB has since replaced them with Executive Condos in 1996. This month, a 1,851 sq ft HDB Executive Maisonette at 278 Bishan Street 24 achieved a record-breaking sale price of $1.45 million, becoming the most expensive such unit ever. The unit sits on the 19-21 floor of the 21-storey HDB block, and has 67 years left on its 99-year lease.

The deal was closed by Huttons Asia’s Eugene Tay and the unit price works out to an impressive $783 psf. Maisonettes are highly sought-after due to their spacious size and double storey design, typically ranging between 1,582 sq ft and 1,722 sq ft.

Just last December, 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, was sold for $1.3 million – also based on EdgeProp Singapore’s Landlens tool. The unit price achieved was $805 psf.

Three other maisonettes in Bishan also made the news this month, all crossing the $1 million mark. This included a 1,604 sq ft unit on a low floor (levels 1 to 3) at 401 Sin Ming Avenue which sold for $1.008,888. The block was completed in 1985 and has 61 years left on the 99-year lease. Another maisonette of 1,572 sq ft selling for $1.165 million and a similar-sized unit selling for $1.188 million were also sold at Bishan Street 13 and 22 respectively.

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 earlier this month. A five-room unit occupying 1,292 sq ft on the 34-36 floor of Block 273B changed hands for a staggering $1.43 million. This is by far the highest transaction recorded to date at the development. Another five-room flat sold for $1.4 million in June, previously holding the record.

In addition, Block 275A Bishan Street 24 also saw its own million-dollar transaction, with a unit on a lower floor selling for $1.3 million.

Lee Sze Teck, Senior Director of Data Analytics at Huttons Real Estate claims the record sale at 278 Bishan Street 24 “could be a one-off”, given the rarity of such units. Unblocked views of the surroundings and its closeness to Ang Mo Kio-Bishan Park could have been factors contributing to the high price. The block at 278 Bishan Street 24 contains only 68 four-room flats and just eight maisonettes.

Singapore has had a number of million-dollar HDB hotspots this year, with the most expensive maisonette and the most expensive Design, Build and Sell Scheme (DBSS) property both being sold at Bishan Street 24. Maisonettes are highly desirable because of their generous size and double-storey design, but given that the HDB is no longer building maisonettes, these units are indeed very rare – and expensive.