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Bishan resale flat sold for $1.36m, making it the most expensive HDB flat (for now)

Bishan resale flat sold for $1.36m, making it the most expensive HDB flat (for now)
According to our Researcher data, a 1,292 unit was sold for $995,000 in November 2016. Bishan is not considered a prime location under the PLH model but is popular among home hunters who are willing to pay more for resale HDB flats there.
PHOTO: Lianhe Zaobao

A five-room HDB flat in Bishan was just sold for $1.36 million, making it the most expensive HDB resale flat sold.

The unit is in a DBSS project called Natura Loft, which has seen several million-dollar transactions over the years.

This transaction comes after a record-breaking deal of $1.295 million three months ago for a five-room flat in the same project.

Measuring 1,292 sq ft, the sale price translates to $1,052.63 PSF. The unit is located on the 37th floor at Block 273B Bishan Street 24.

One notable aspect of Natura Loft is that it's just around a two-minute walk from Catholic High School, one of the popular schools located in Bishan.

According to The Straits Times, there were three groups of serious buyers, leading to a bidding war. The sellers were hoping the flat would fetch above the previous record of $1.295 million.

Although there was some reluctance to go beyond this figure, the buyers adjusted their offers, with some by up to four times.

While there was a last-minute offer of $1.365 million, the sellers went ahead with the $1.36 million offer.

It was also noted that the sellers were the second owners of the flat, as they bought the unit around five years ago. They're now moving to private property.

According to our Researcher data, a 1,292 sq ft unit at Block 273B Natura Loft in the 36th- to 38th-floor range was bought for $995,000 back in November 2016.

This record-breaking deal also comes after the government's announcement of the new Prime Location Public Housing (PLH) model.

It introduces some restrictions on new and resale flats in prime locations, including a 10-year MOP, income ceiling and a subsidy clawback.

ALSO READ: Here's why you may not want to get a PLH flat if you're thinking of upgrading in future

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