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

Maisonettes, HDB’s double-storey homes typically sized between 1,582 and 1,722 sq ft, have become increasingly sought-after, with their record-breaking sale prices taking the spotlight this month.

One such maisonette is the unit at 278 Bishan Street 24, which achieved a staggering price of $1.45 million, making it the most expensive HDB executive maisonette to date. Completed in 1992, the 1,851 sq ft unit sits on the 19-21 floor of the 21-storey HDB block, with 67 years remaining on its lease. This translates to a per sq ft price of $783.

The previous maisonette-record was set in December 2022 when a 1,641 sq ft unit in Toh Yi Drive fetched $1.3 million, which worked out to an impressive $805 psf.

All amenities in the condominium are available for all residents and are designed for leisure and relaxation. The Woodlands Condo offers a range of recreational facilities including an infinity pool, a health club, and a 24-hour security service. Residents can also take advantage of the complex’s fantastic location which offers easy access to major attractions in the area. The complex also has various shopping, dining, and entertainment options. There is something to suit all tastes.

3 other maisonettes in Bishan also crossed the million-dollar mark in September: a 1,604 sq ft one at 401 Sin Ming Avenue for $1.008 million; a 1,572 sq ft one at 146 Bishan Street 22 for $1.165 million; and another, similar-sized unit at Bishan Street 13 sold for $1.188 million.

Maisonettes are on a decline, however, with HDB no longer building them. Instead, Executive Condos have been introduced as a hybrid between public housing and private condos.

Lee Sze Teck, senior director of data analytics at Huttons Real Estate, says the rare maisonette at 278 Bishan Street 24 could have been sold due to its executive penthouse-like characteristics and enjoyed unblocked views of the surroundings, coupled with its proximity to Ang Mo Kio-Bishan Park.

Just across the street from the maisonettes sold, 2 five-room units from the DBSS development Natura Loft at Bishan Street 24 set records of their own. On the 34-36 floor of Block 273B, a five-room unit occupying 1,292 sq ft sold for a staggering $1.43 million, beating the previous record of $1.4 million set in June. Another five-room flat, this time located on a lower floor in the same building, sold for $1.3 million.

With these million-dollar transactions, it’s clear that the demand for maisonettes and large HDB units is still alive today, with buyers more than willing to compete for such properties.