Earlier this month, a three-room HDB flat at 184 Bishan Street 13 was sold for $625,000 ($907 psf), a record high for three-room flats in Bishan. The lease of the 689-sq ft flat commenced in 1988, leaving it with a remaining lease of approximately 62 years. The subject flat is located on the fourth to sixth storeys.

The recent sale marks the first time that a three-room flat in Bishan has been sold for more than $600,000. The previous record high was held by a 689-sq ft flat at 406 Sin Ming Avenue, which was sold in February for $599,000 ($870 psf) (see Table 1). The flat along Sin Ming Avenue has a remaining lease of approximately 61 years.

The shorter remaining lease of the subject flat could have been mitigated by its convenient location. The flat is a short walk from the dual-line Bishan MRT Station, Bishan Bus Interchange, Junction 8, Kuo Chuan Presbyterian Primary School and Kuo Chuan Presbyterian Secondary School (see Map 1).

Read also: A three-room flat at 530D Pasir Ris Drive 1 was just sold for a record-high of $650,000

The recent designation of Bishan as Singapore’s newest sub-regional centre could also have increased the town’s appeal to homebuyers.

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