SINGAPORE - Even with the Government's cooling measures to curb rising home prices, an executive maisonette in Bishan has fetched a princely sum of $1,088,888 - with an ideal location and nearby amenities.
The auspicious-sounding figure was sealed in a deal in October, according to local media reports.
The high-floor two-storey unit is located in a 27-year-old apartment block - Block 194 in Bishan Street 13. It is a minute's walk away from a supermarket and a 24-hour food centre.
Lianhe Wanbao said that another unit in the same block also made headlines for fetching $1.01 million in February last year.
Mr Huang, a sales director of a property agency, said that such high prices should not be seen as the norm for public housing.
He said that these million-dollar public homes does have their own selling points, such as ideal locations, but they could have also been through rounds of renovation to increase their value.
With amenities such as a community centre with a large Starbucks, a public library, a shopping centre, MRT and bus interchange, as well as a sports stadium all within walking distance, it comes as no surprise that flats in Bishan can fetch for an average of $513psf.
Property prices in the central region of Bishan, Braddell, Toa Payoh can also be priced from $1,365psf to $1,175psf. The MRT map reveals the highest cost of property value compiled across all home types in their specific regions.
Source: AsiaOne (22 Dec 2014)