The unit at the Natura Loft complex, which was completed in 2011, exceeded the previous high by 4.8%. Natura Loft has already recorded other notable sales this year, with a four-room flat selling for a record SGD1.3 million in August, according to property news platform Stackedhomes.
The latest record-setting flat is near the top of its 40-story Block 273A. Natura Loft is also Bishan’s only Design, Build and Sell Scheme development, a distinction that likely helps support its resale prices.
The development has 480 units. Block 273A contains 160 flats, evenly divided between four- and five-room units. Natura Loft is about 15 years old and has approximately 83 years remaining on its lease.
That remaining lease comfortably exceeds thresholds that can limit loan terms or borrowing amounts for buyers using bank financing, an important consideration for homeowners contemplating a purchase approaching SGD2 million.
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Natura Loft, Bishan, Singapore. Photo via Google Maps/Mokkie Mok |
Bishan’s five highest five-room resale transactions provide further context for the new record. All five previous leading sales involved Natura Loft units.
The transaction history establishes Natura Loft as Bishan’s clear price leader for five-room resale flats. Every previous record for this flat type has come from the same development, and the latest sale at Block 273A reinforces its position.
Recent five-room transactions elsewhere in Bishan suggest the town’s resale market could become more divided in the coming months. A low-floor flat at Sin Ming Avenue sold this month for SGD850,000, according to the transaction table.
An executive maisonette at 192 Bishan Street 13 recently sold for SGD1.65 million, setting a record resale price for a public housing flat in Bishan, according to property news website EdgeProp. The 162-square-meter unit is located between the 22nd and 24th floors and has approximately 60 years remaining on its lease.
In many other Singapore areas, home prices have reached new record this year. A five-room flat at Kallang Trivista sold for SGD1.59 million last month, a new record for the Kallang/Whampoa area.
Also last month, a four-room flat at SkyParc @ Dawson has set a record resale price of SGD1.39 million for this unit type in Queenstown.