Table of contents:
- About Natura Loft 275A Bishan Street 24
- The record-breaking transaction
- Analysis of Natura Loft 275A Bishan Street 24’s ATH
- Comparative analysis with neighbouring HDBs
- Comparison with national trends
- Conclusion
In a notable development for the Bishan property market, a 5-room HDB flat has achieved a new record resale price. As of 1 June 2024, this sale reflects the increasing demand and perceived value of high-quality public housing in Singapore.
Below, we table the ATH and attempt to analyse it for better understanding.
About Natura Loft 275A Bishan Street 24
Block 275A is a 13-year-old HDB flat located on Bishan Street 24 in District 20. It is one of the 3 blocks in Natura Loft and obtained its Temporary Occupation Period (TOP) in 2011.
The block offers various facilities such as a BBQ area, a fitness corner, a pavilion, and a playground. Additionally, nearby amenities include:
- Public transportation
- Bishan MRT – 1.3km, 16min walk
- Marymount MRT – 1.5km, 17min walk
- Upper Thomson MRT – 2km, 24min walk
- Bright Hill MRT – 1.8km, 21min walk
- Schools
- Whitley Secondary School – 1.6km, 5min drive
- Catholic High School – 1.1km, 5min drive
- Pathlight School – 2.3km, 6min drive
- Guangyang Secondary School – 2.2km, 6min drive
- Guangyang Primary School – 2.2km, 6min drive
- Teck Ghee Primary School – 2.8km, 7min drive
- Peirce Secondary School – 2.3km, 6min drive
- Parks
- Bishan Active Park – 0.7km, 2min drive
- Bishan – Ang Mo Kio Park (Pond Gardens) – 1.8km, 5min drive
- Clover Crescent Playground – 2.6km, 7min drive
- Clover Way Playground – 2.6km, 8min drive
- Supermarkets
- FairPrice – OCBC Bishan St 13 – 1.8km, 6min drive
- FairPrice – OCBC Bishan St 14 – 0.5km, 2min drive
- Hospitals
- Ang Mo Kio-Thye Hua Kwan Hospital – 3.9km, 11min drive
- DBS Mount Alvernia Hospital – 4.3km, 10min drive
- Amenities
- Bishan North Shopping Mall – 0.5km, 2min drive
- Junction 8 – 1.6km, 5min drive
- Thomson Plaza – 3.3km, 11min drive
- Broadway Plaza – 3.8km, 9min drive
- Jubilee Square – 3.7km, 9min drive
Next, we look at the transaction.
The record-breaking transaction
Above, we see an upward trajectory of the price trends and the transacted volumes (up until 2020-2021). Million-dollar HDB units have become a recent, prevailing trend and we can see it in this graph. It’s only a matter of time before we will see it breaking the S$1.5m barrier with most future transactions. Below, we take a look at the recent ATH which is the reason for the writing of this article.
Read another ATH that happened recently: 5-Room HDB flat at City View @ Boon Keng was sold for S$1.3M
Let’s take a look at the key details of the ATH:
- Flat Type: 5-room (5R)
- Storey Range: 28th to 30th storey
- Area: 120 square metres
- Resale Price: S$1,538,000
The recently recorded price for an HDB flat in Bishan is the highest on record, which reflects the premium value associated with high-floor units featuring larger living spaces. A 447 Bright Hill Drive unit held the previous ATH at S$1,480,000.
Analysis of Natura Loft 275A Bishan Street 24’s ATH
Looking at the graph above, we see that the price trends peaked in 2022 previously but then dropped in 2023 to only bounce back to an ATH in 2024. The trajectory suggests that units in Natura Loft 275A Bishan Street 24 increased in value but decreased in demand up until 2023. This might be an indication that the rising prices of the units have led to lower demand, thus the lower transacted volume. However, the price seems to be gaining momentum.
Several factors contributed to this momentum:
- High-floor location: Units on higher floors often command higher prices due to better views and reduced noise.
- Size and type of the flat: 5-room flats offer more space, appealing to larger families and those seeking more room.
- Prime location: Bishan is a well-established town with excellent amenities, schools, and connectivity, making it highly desirable.
Next up, we compare Natura Loft 275A Bishan Street 24 to its neighbours:
Comparative analysis with neighbouring HDBs
To compare, we’ve drafted comparative graphs of Blocks 273A and 273B, that include overall transactions, 4-room transactions, and million-dollar transactions.
The graphs below provide a visual comparison:
Notably, 275A consistently achieves higher average prices compared to 273A and 273B, particularly from 2020 onwards, reflecting a growing premium for this block. The transaction volume for all three blocks fluctuates but generally shows an upward trend in recent years, indicating increased market activity and demand for flats in these locations.
Above we see a general upward trend in average prices across all three blocks, with 273A consistently achieving higher prices compared to 275A and 273B. The transaction volumes vary significantly year-to-year, with noticeable spikes in certain years, reflecting fluctuating market activity. The sustained increase in average prices indicates growing demand and appreciation in value for 4-room flats in this area.
From what we can see above, Blocks 275A and 273B have experienced several million-dollar transactions over the years, with 273B seeing a notable increase in both the number and average price of these transactions from 2020 onwards. 273A, while having fewer million-dollar transactions, maintains a consistently high average price. The trend suggests a growing propensity for high-value transactions in these blocks, indicating their increasing desirability and market value.
Comparison with national trends
The resale price of S$1,538,000 for the property in Bishan sets a record for this area, but it is slightly below the national ATH resale price of S$1,588,000.
Read our cover of the national ATH: Bukit Merah matches yet another national high as City Vue @ Henderson hits S$1.588M
This comparison indicates Bishan’s competitive positioning within the broader Singaporean market and suggests potential for future appreciation.
Conclusion
The recent record resale price of a 5-room flat in Bishan reflects the town’s attractiveness and the overall trends in Singapore’s HDB market. As Bishan undergoes further development and draws in potential homebuyers, its property values are expected to stay strong, presenting favourable opportunities for existing residents and potential investors.
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