Record S$1.01m for HDB flat sold in Bishan

By Andrew Batt: A new record price for a HDB resale flat was set last month for a property in Bishan.An executive maisonette along Bishan Street 13 changed hands for S$1.01 million, beating the previous S$1 million paid for a similar unit in Mei Ling Street, Queenstown last September.

Data published by the HDB revealed that the new record holder is a 1,755 sq ft property in Block 194.

Romesh Navaratnarajah, Senior Editor for PropertyGuru, said: "The convenient location and easy access to transport links is one factor that attracts buyers to this neighbourhood."

He added that resale flats in Bishan, unlike those in Queenstown where the previous record was set, are generally newer and are more aesthetically pleasing.

Prior to the introduction of the latest round of property cooling measures in January, many experts were predicting further record-breaking prices to be achieved for HDB resale flats in 2013. It remains to be seen whether those measures will dampen both the demand and prices for this sector. Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg Related Stories: More flat owners reluctant to sell: data

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