Another $1.5m all-time high for Bishan HDB flat in the same month

The Singapore property market has seen notable transactions, with Bishan making headlines once again as another Housing & Development Board (HDB) maisonette flat reached an all-time high (ATH) of S$1,500,000.

Previously, a DBSS flat at Block 275A of the same street also reached S$1,500,000 ATH in the same month.

Record-breaking sale

On May 1, 2024, an Executive (EXE) maisonette flat at Block 286, Bishan Street 24, was sold for S$1,500,000.

The flat, spanning 172 square metres and located on the 22nd to 24th storeys, has set a new benchmark for property prices in Bishan and has attracted attention nationwide. This sale highlights the demand for premium HDB flats in well-located areas.

Bishan's growing popularity

Certain years boomed in volumes for all types of properties in Bishan, especially between 2020 and 2023.

Bishan is considered a prime residential area due to its central location and range of amenities. It offers modern conveniences, green spaces, and a strong transport network, making it a desirable place to live.

The area's connectivity, quality schools, parks, and shopping centres contribute significantly to its property values.

About Block 286 Bishan Street 24

Block 286 Bishan Street 24 is centrally located in Bishan, providing residents with convenience and accessibility. The block is well-served by public transport, with nearby MRT stations and bus services facilitating easy commuting.

The area is close to reputable schools, providing families access to quality education. Nearby parks are ideal for leisurely walks, and there are various supermarkets and shopping malls for convenient access to shopping.

Furthermore, the presence of healthcare facilities guarantees that residents' medical requirements are adequately met. This section offers a comprehensive review of these amenities and their availability, emphasising why Block 286 is a sought-after location for many.

Below are all the nearby amenities and facilities of Block 286 Bishan Street 24:

Public transport:

• Bishan MRT Station (CC15) - 6-min drive, 19-min walk (1.3km)
• Marymount MRT Station (CC16) - 6-min drive, 20-min walk (1.5km)

Schools:

• Catholic High School Whitley Secondary School
• Marymount Convent School
• Raffles Institution
• Raffles Girls' School (Secondary)
• Eunoia Junior College
• SmartLab Education Private School
• Braddell-Westlake Secondary School
• Teck Ghee Primary School
• Anderson Primary School
• Kuo Chuan Presbyterian Primary School
• Mayflower Primary School
• Peirce Secondary School
• SJI International School
• Ang Mo Kio Secondary School

Parks:

• Bishan-Ang Mo Kio Park - 6-min drive (1.7km), 7-min walk (500m)
• Bishan North Neighbourhood Park - 2-min drive (400m), 3-min walk (170m)
• Bishan Active Park - 3-min drive, 7-min walk (450m)
• MacRitchie Reservoir Park - 9-minute drive (4.8km)

Supermarkets:

• Ang Mo Supermarket - 1-min walk
• FairPrice Bishan North Block 279 - 2-min walk (170m)
• Apple Supermarket Pte. Ltd. - 4-min drive (750m)

Hospitals:

• PHC - 7-min drive (1.3km)
• Mount Alvernia Hospital - 9-min drive (3.3km)

Amenities:

• Bishan North Shopping Mall - 1-min drive (210m)
• AMK Hub - 9-min drive (2.4km)
• Junction 8 - 6-min drive (1.3km)
• Thomson Plaza - 9-minute drive (3.2km)
• NEX - 13-minute drive (5.6km)
• Velocity @ Novena Square - 14-minute drive (5.9km)

Now, let's move on to the historical context of Bishan.

Historical context

The property prices in Bishan have experienced a notable upward trend over the years. Bishan has transformed from a modest residential area into a location known for high-value properties, influenced by its strategic positioning and extensive amenities.

There was an increase of 43.6 per cent from 10 years ago and 34.85 per cent from the start of the pandemic in average prices.

The current ATH reflects the consistent increase in property values, indicating the area's attractiveness and market dynamics.

Implications for home buyers and investors

The high prices of properties in Bishan may pose a challenge for home buyers but also reflect the potential for investing in the area.

Bishan offers a quality living environment and shows strong potential for capital appreciation. Investors can anticipate good rental yields and long-term gains, particularly with the ongoing development of the surrounding infrastructure.

Conclusion

The recent ATH in Bishan highlights the area's increasing importance in Singapore's property market. With the growing demand for prime properties, Bishan has emerged as a significant area for home buyers and investors looking for value and long-term appreciation.

It is essential to stay informed about market trends and understand the factors influencing price movements to navigate this dynamic landscape effectively.

ALSO READ: 5-room DBSS in Natura Loft Bishan sells for $1.5m, highest sale in the estate

This article was first published in 99.co.