This 5-Room Bishan HDB Just Hit a Record $1.632M — Here’s What the Sellers Likely Made

Another month, another Bishan record.

A 5-room DBSS flat at Block 275A Bishan Street 24 has just sold for $1.632 million, setting a new benchmark for the flat type, and once again, the headline comes from Natura Loft, the town’s seemingly perennial price leader.

This new benchmark is only a bit higher ($64,000) than the previous record breaker in July 2024. That was also a 5-room flat in Bishan Loft, which transacted for $1.568 million in July 2024, but together they paint a picture of where prices in central HDB towns are headed.

With this sale, Bishan has now recorded 158 transactions of 5-room flats that have breached the million-dollar mark. Million-dollar flats are increasingly common in this area, with Property Guru showing a number of 5-room flats in the same development that have asking prices of over $1.3 million.

Outside of Bishan itself, this record breaker is also the second most expensive 5-room flat transaction in Singapore to date; the most expensive was a Queenstown unit that sold for $1,658,888.

The Profit Breakdown

It is difficult to pinpoint the exact gains for this seller, given that Natura Loft launched more than a decade ago. However, available data shows that 5-room units were originally priced between $590,000 and $739,000 when they were first sold in 2011.

Based on those prices, the owners could have made between $893,000 and $1,042,000 in absolute gains. Even the higher entry point ($739,000) would have yielded a substantial windfall.

The project has a lease start year of 2011, and the flat now has about 84 years and 10 months remaining on the lease. 

Are we approaching the price ceiling for HDB?

The $64,000 uplift from the previous record suggests a market that is still climbing; but we need to consider that Natura Loft is not a standard flat. It’s a DBSS project that was designed and built by private developers (albeit without common facilities like pools and clubhouses, and it remains an HDB property with eligibility restrictions.) The development also boasts unblocked views and is likely a reason for its high price given the unit is located above 30 storeys.

For buyers, the limiting factor is often affordability. A $1.6 million+ quantum often means a substantial downpayment due to Mortgage Servicing Ratio (MSR) calculations, and at this price range, some buyers may start weighing the pros and cons of a DBSS project versus some older resale condos. 

The location is desirable

Natura Loft benefits from its central Bishan location, sitting between Bishan MRT (NSL, CCL) and Marymount MRT (CCL), with strong transport links and amenities nearby. Bishan remains one of Singapore’s most consistently desirable HDB towns, with established schools and a self-contained town centre.

The layout of the 5-room flat

The layout of this 5-room flat has a slightly uncommon curve in the main bedroom, but this seems to affect just the balcony area. Like many DBSS projects of its time, Natura Loft also incorporates bay windows and planters, features that are considered inefficient. These quirks have not meaningfully held back demand, but they are considered a drawback by most (you’re paying for square footage that’s not liveable.)

This is also a more traditional layout compared to today’s efficient dumbbell styles. Here, the social areas (living and dining room) are kept to one side, while the bedrooms are kept to the other. This does result in a slightly less efficient use of corridor space, but it does make the bedrooms more private. 

Also note the availability of a study room, which is not found in standard HDB flats.

The market context

Bishan’s million-dollar segment continues to expand, even as the rest of the town shows a more typical price structure. Across Bishan as a whole:

– Prices of 5-room flats transacted between $810,000 and $1.632 million so far in 2025, averaging at $1,057,510.
– DBSS units are something of a segment in themselves, as they’re not only built by private developers but come in at higher base prices than normal flats

As with other high-performing BTO and DBSS flats, the earliest owners who held throughout saw the largest gains. Natura Loft benefited from a strong location from the outset, but the surrounding infrastructure and town centre of Bishan have continued to build its appeal.

For more details on the surroundings and overall development quality, read our full Natura Loft review here.