A 4-Room HDB Flat Just Sold For A Record $1.263 Million In Bishan — Here’s What Buyers Are Paying For

The sale of a four-room Design, Build and Sell Scheme (DBSS) flat at Natura Loft has set a resale price record for four-room HDB flats in Bishan. The record-setting flat is located at block 273A Bishan Street 24, and the 1,023 sq ft unit – on the 22nd to 24th floors – changed hands for $1.263 million when it was sold last week. The selling price translates to approximately $1,235 psf.

The previous resale record for a four-room flat in Bishan involved the sale of another four-room DBSS flat at the same block, a unit that sits between the 37th to 39th floors which was sold for $1.25 million ($1,221 psf) in November 2025. The new record sale exceeds that by $13,000.

Natura Loft

Natura Loft is a DBSS project at Bishan Street 24 in District 20. The development comprises three blocks on the same street: 273A, 273B, and 275A. The 99-year leasehold development has about 85 years left on its lease, as of the time of this article.

The DBSS scheme saw private developers designing and selling HDB flats to buyers, with specifications and layouts that were supposed to match condominiums than a standard Build-To-Order (BTO) offering.

Unlike executive condominiums, DBSS developments would not be privatised. And like most DBSS projects, Natura Loft has communal facilities including BBQ pits, a children’s playground, fitness zones, and landscaped gardens, but no swimming pool, gym, or clubhouse like in a typical condo.

The four-room units at Natura Loft are also notable for some design quirks (curved master bedroom walls, multiple planter boxes, and bay windows) that reduce usable floor area despite a competitive 1,023 sq ft footprint.

A $13,000 record in a softening market

Here’s a closer look at the transactions across all three blocks at Natura Loft over the past 12 months.

The margin between the new record and the previous price high set in November 2025 is a slim $13,000. In February 2026, another 273A unit transacted at the same $1.25 million, matching the record, which was $130,000 above the earlier peak of $1.12 million.

The resale transactions suggest that at least some buyers may have begun towards the eye-watering prices at Natura Loft since 3Q2025. 

At Block 273B, a September 2025 sale at floors 34 to 36 fetched $1.05 million, below the $1.08 million recorded at the same block’s lower floors three months prior. A high-floor unit selling for less than a lower-floor transaction in the same development is unusual.

As a caveat, we would also point out that some resale transactions may involve sales between related parties at below-market rates, which public data does not identify, so this data point is best read as part of the broader pattern rather than on its own.

Meanwhile, at Block 275A the sale of a unit between the 13th to 15th floors fetched $1.01 million when it was sold in December 2025. In terms of price, this deal is about $110,000 less compared to the sale of a unit between the 16th to 18th floors that transacted in October 2025.

For comparable stories within the same development, a drop of that quantum in two months suggests that market appetite was weakening heading into 2026. And this was reflected in the official data released at the end of 1Q2026.

The HDB Resale Price Index (RPI) fell 0.1% q-o-q, its first quarterly decline since Q2 2019, ending a streak of growth that had run through the entire post-pandemic period. According to SRX data, prices fell a further 0.6% month-on-month in April 2026, with mature estates recording a sharper 1.4% drop over the same period.

The four-room segment has proved more resilient than the overall RPI: SRX data showed four-room prices edging up 0.1% in April 2026, and HDB’s Q1 2026 data showed average four-room resale prices rising 0.8% q-o-q even as the broader index dipped.

Separately, Block 273A’s position within Natura Loft also matters. That block has 80 four-room units, which is twice the number of this unit type at Blocks 273B and 275A – which has 40 each, respectively. Blocks 273B and 275A predominantly consist of five-room units with about 120 units of that type in each block. 

With half of Natura Loft’s four-room units concentrated in one block, buyer demand for this flat type converges on 273A. This largely helps to sustain stronger pricing there relative to its neighbouring blocks.

This also helps to explain why some units at Block 273A have continued to transact at record prices while the price growth at the other two blocks have largely stabilised. But the pace has clearly moderated: the block still setting records is doing so by a slimmer margin of $13,000 at a time.

How prices at 273A have moved

Prices at Block 273A have risen steadily since 2019, with the pace picking up after 2022.

The block’s first million-dollar transaction was recorded in early 2023, when a unit found between the 37th to 39th floors changed hands for $1.075 million. 

In 2019, the price high there was about $900,000, and in the intervening years up to the current record price, the increase is approximately $363,000 – about 40% over seven years or roughly 5% per year compounded.

That annualised rate is consistent with the price performance growth that most well-connected BTO developments in mature estates typically record. What has shifted is where in the block the new price ceilings are appearing; they now extend down to the mid-range rather than concentrating at the upper floors.

Non-DBSS 4-room prices in Bishan

Over the past 12 months, non-DBSS 4-room flats in Bishan have fetched between $460,000 and $990,000, with a median of $788,000. The upper end of that price range is concentrated in well-located Model A and Premium Apartment units near Bishan MRT and along Bishan Street 24.

The non-DBSS blocks on Bishan Street 24 include Premium Apartment units at Blocks 288, 289, and 290, as well as Model A units at the surrounding blocks. Since June 2025, Premium Apartment units on the street have reached $960,000 at the higher floors, and Model A units on the same street are creeping up to $940,000 depending on floor level.

At $1.263 million, the record price for this four-room DBSS flat sits approximately $273,000 above the highest non-DBSS 4-room transaction in Bishan over the same period, and $343 psf above the best-performing Premium Apartment unit on the same street. Against the broader Bishan four-room median of $805,000 in Q1 2026, the gap is approximately $458,000.

What buyers are paying for at this price

This price premium is attributed to a combination of the DBSS build quality, a long remaining lease tenure of 85-years, and the scarcity of DBSS units. In 2011, HDB discontinued the sale of DBSS sites following public feedback on pricing, leaving limited stock of these flat types on the resale market. Buyers have long priced that in.

At $1,235 psf for a public housing flat, a buyer is paying close to the range of older resale condos in some Outside Central Region (OCR) districts but with limited condo facilities, a non-privatised status, and some layout compromises. 

Whether those trade-offs are acceptable at this quantum depends on how much weight the buyer places on Natura Loft’s Bishan location and the DBSS specifications. The latest record sale shows that at least one buyer settled that question at $1.263 million.