Bishan HDB flat found a buyer at record prices in the neighbourhood

A seller of Bishan executive maisonette has found a buyer during the first open house for this HDB flat and set a new benchmark price of $980,000 in the neighbourhood. There were 40 people who viewed this 25 year-old HDB property located at Bishan Street 13 during the open house.

A recent high price for a HDB flat was transacted in May 2012 for an executive flat in Toa Payoh which was done at $910,000.

At the transacted price of $980,000, the cash-over-valuation for this flat was $200,000 which is also the highest ever COV reported at the time of sale. This works out to $550 per square foot.

This flat has a built in area of 1,800 sq ft which include a 150 sq ft open roof terrace which is believed to be limited in supply of about 48 such maisonette island wide. It is located on the 19th floor with a good view but the furnishing was reported to be simple.

Historically such maisonette in Bishan is in high demand and was promptly sold whenever there was a unit put out for sale.

25 Sep 2012