Bishan two-storey executive maisonette sets new resale record at S$1.588 million

SINGAPORE: A rare executive maisonette unit in Bishan has been sold for S$1.588 million, marking a new record for this category of public housing in Singapore. The transaction, involving a two-storey HDB unit at Block 194, Bishan Street 13, surpasses previous benchmarks for both the town and nationwide. According to a report by Shin Min Daily News on 17 July 2025, the sale eclipsed Bishan’s earlier highest resale flat price of S$1.568 million and set a new record for maisonette-type flats across the island. The former national high was S$1.51 million. Although the deal has not yet appeared on the Housing and Development Board (HDB) website due to administrative processing, its completion has been confirmed by the marketing agent involved, according to Shin Min.

Size and design contributed to high demand

The unit was marketed by Louis Tey (郑任翔) from Huttons Asia. He told Shin Min that while most 2-storey executive maisonettes are around 1,500 square feet in size, this particular unit spans 1,755 square feet. A key feature that set the unit apart was its rare open rooftop terrace, an architectural element uncommon in HDB flats and highly sought after by buyers. Tey noted that only a limited number of such units exist in Bishan, and even fewer are available for resale. Consequently, the unit attracted significant attention upon listing. Within a short period, over 50 groups of potential buyers made enquiries, prompting the agent and seller to organise a two-hour open house session, during which 22 groups viewed the unit.

Multiple offers, but one stood out

Four interested groups submitted competitive offers. The final buyer, Chen Jun’er (transliterated), a 33-year-old financial consultant, secured the deal with an offer of S$1.588 million. Chen shared in the same report that this was the first property he and his wife purchased. After over three years of unsuccessful attempts to acquire a Build-To-Order or Sale of Balance Flat, the couple turned to the resale market six months ago. Having lived with their parents, they sought more privacy and independence. While initially considering units in Bidadari to stay close to their parents in the Woodleigh area, the newer flats’ smaller sizes deterred them. Chen said the couple fell in love with the Bishan unit immediately after their viewing. The expansive rooftop terrace, which offers sunset views, was a major draw. Another factor was the spacious layout, ideal for their long-term plans to reside there for at least a decade. The couple also considered their pet dog’s need for space and freedom. The location added further appeal. The flat is surrounded by reputable schools, making it suitable for future family needs, and is near MRT and bus interchanges as well as shopping amenities.

2024 saw record HDB resale activity and price growth

In June, a five-room resale flat at Dawson Road in Queenstown fetched nearly S$1.659 million, marking the highest recorded resale price for an HDB flat. The 122-sq m premium loft unit was located between the 22nd and 24th floors. While it marks the highest 5-room HDB resale transaction on public record, the most expensive flat remains a S$1.73 million unit at SkyOasis @ Dawson in June 2024. According to HDB data released on 24 January 2025, resale flat prices increased by 9.7% in 2024, following gains of 4.9% in 2023 and 10.4% in 2022. Despite strong demand, the number of resale transactions fell by 21.1% in the last quarter of 2024. However, the full-year total reached 28,986 units. A record 1,035 HDB resale flats crossed the S$1 million mark in 2024, highlighting continued demand for well-located, large, or premium units. At a 5 March 2025 budget debate, Singapore’s then-Minister for National Development, Desmond Lee, warned that such headline-grabbing prices could distort market expectations. Lee noted that these high-priced flats represented just 0.5% of transactions involving four-room or smaller flats over the past two years. “These flats are usually in central locations, high floors, and close to MRT stations and amenities,” Lee said, cautioning that inflated expectations could lead to a market misaligned with economic fundamentals.