This 38-Year-Old Bishan HDB Maisonette Just Sold For $1.6M — Here’s Why Buyers Still Paid Up

How much does centrality and space cost in a nearly 40-year-old HDB? If you’re looking at Bishan, the answer is now $1.6 million, a new record for executive flats in the town.

Block 135 Bishan Street 12, a maisonette on the 22nd to 24th floor, changed hands in November 2025 for exactly $1,600,000. That’s $12,000 more than the previous executive flat record set at Block 194, just a couple of minutes away. With 163 square metres of floor area, this marks the 171st million-dollar executive flat transaction in Singapore.

The basics

The unit sits in Bishan Green, a point-block development opposite Braddell Flyover. The lease started in 1987, putting the block at around 38 years old with 60 years and 8 months remaining. For context, executive flats in Bishan routinely clear $1.1 million despite their age. As a matter of fact, PropertyGuru currently lists one at a stunning $1.9 million.

Location carries weight here. Bishan’s maturity and centrality mean it’s no stranger to million-dollar transactions, and this executive flat shows how square metres and upper-storey placement drive resale price.

What the price buys

The price reflects three variables: location within a mature estate, the unit’s size, and its position on a high floor.

First, being in Bishan. The town is central and well-served by amenities. That said, Block 135 isn’t within walking distance of the MRT; OneMap data shows a 13-minute walk to the station. Nevertheless, the total travel time to Raffles Place MRT clocks in under 30 minutes, which remains competitive.

Second, size. At 163 sqm, this maisonette ranks among the larger HDB units available on the resale market. Executive flats were designed for multi-generational households, and space commands a premium as family sizes and remote-work needs evolve.

Third, floor level. High-floor units (this one is situated between floors 22 to 24) typically command better prices for unblocked views. In this case, the view mostly consists of surrounding HDB blocks, meaning the price bump comes from unblocked views rather than visual appeal.

Schooling and access

Four primary schools sit within 1 kilometre, two of which draw strong demand: Kuo Chuan Presbyterian Primary and Pei Chun Public School. For families prioritising school proximity, the address offers optionality within the 1km enrollment radius.

That said, for those eyeing this area, you would likely want to own a car; if not, you’d have to rely on buses or a short drive to reach Bishan MRT. That 13-minute walk is manageable for some, inconvenient for others, and may factor into resale liquidity down the line.

And as we mentioned, this is the 171st million-dollar executive flat in Singapore, confirming that the segment has carved out a persistent premium even despite the news that SERS is no longer part of the equation. For comparison:

– 4-room and 5-room flats in Bishan averaged $784K and $1.05M (in 2025) respectively

– Executive flats in less central estates (e.g., Woodlands, Yishun) rarely breach $1 million, held back by distance from the core.

The gap between executive flats in mature, central estates and those in peripheral towns continues to widen, as location and accessibility trump raw space alone in what buyers would pay a premium for.

By this point, it should be clear that million-dollar executive flats cluster heavily in central or mature estates (Bishan, Toa Payoh, Queenstown), where amenities, school access, and MRT networks are well-established. The outliers that clear seven figures in newer or less central towns tend to be maisonettes or unusually large units with unique attributes (e.g., corner positions, renovated interiors).

From this, we can see that centrality still commands the steepest premium. The owners of Block 135 benefited from nearly four decades of estate maturity and infrastructure build-out, and were able to exit at a record despite the unit’s age.