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May 11

High Park Residences

Media has reported, using data online from High Park Residences, that even though the resale flat price index has been falling, an executive maisonette has sold this month for $1.05 million in Bishan.

The flat is a 2 storey unit which sits between the 22nd and 24th floor of this building. Situated at 13 Bishan Street in Block 192, the 99 year lease (which still has 77 years left on it) flat was built in 1987 and offers 149 square meters of space.

Also this month, on 22 Bishan Street, a similar maisonette sold for $812,000. Bishan has long been distinguished for Housing Development Board flats with stratospheric High Park Residences prices. Regardless of this, it still faced some competition against The Pinnacle at Duxton, which has sold two units this month for over $1 million.

High Park Residences

One unit at the Pinnacle, which sits between the 28th and 30th floors of Block 1G, was picked up by a buyer for $1.06 million. Block 1A also fetched a price of $1.05 million for its unit between the 46th and 48th floors for High Park Residences.

Looking at the transactions this year for five room apartments at this development it has been noted that all transactions for High Park Residences condo have exceeded $900,000 and have had six of their units sell for no less than $1 million.

During the project’s launch a few years back, these same units were being priced between $345,100 and $439,400. The 50 story development is situated in a very sought after locale and passed their 5 year MOP (Minimum Occupation Period) recently.

So far, these older flats in Bishan have been able to pull in some impressive figures. The estate literally holds the record in Singapore as having sold the most expensive flat, which was a Block 194 maisonette that sold in October 2014 for close to $1.08 million. Block 190 also had a unit purchased in December 2014 for $1 million.

High Park Residences Condo Fernvale

Regardless of the fact that these particular flats were able to sell for record prices, HDB flat are still seeing a dip in their resale price index over the span of the past 7 quarters since the middle of 2013 in High Park Residences. In 2015’s 1st Quarter reports have shown that there was a further drop of 1% in the index.

While we have watched a downward journey of the index, reports have shown that there has been a 1% increase in the prices for larger executive units during this past quarter. It was also noted that a main factor for this has been down to location.

High Park Condo Fernvale

This month saw a sale of $570,000 in Bedok for an executive maisonette with a 143 square meter area. There was also a sale at Bukit Batok for a 28 year old maisonette that sold for $610,000.

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