Five Room Flat Natura Loft Sets Resale Record 1538 Mil Bishan
A 1,292 sq ft five-room flat in Natura Loft has set a new record resale price for Bishan, selling for $1.538 million ($1,190 psf) on May 5. This flat, located on the 30th floor of Block 275A Bishan Street 24, was sold after being listed for a month by real estate agency ERA Realty Network.
Shawn Kuah, senior marketing director at ERA, and Emily Yeoh, also a senior marketing director at ERA, represented the seller in the transaction. According to Kuah, the sellers, a multigenerational family with a young child and grandparents, are relocating overseas and were prompted to sell their Design, Build, and Sell Scheme (DBSS) flat listed for $1.589 million.
Kuah added that this corner unit offers an unobstructed view, which is reflected in the balcony of the master bedroom. The lack of a balcony in higher floor units, which instead have bay windows, makes this flat even more desirable. Natura Loft is comprised of five 40-storey residential blocks with a total of 480 units. The DBSS development is 99-year leasehold and was completed in 2012.
Kuah says the unit was listed for less than a month before finding a successful buyer, with an option to purchase (OTP) issued within a week of listing for $1.538 million. After the buyer did not exercise the OTP, Kuah found another buyer willing to pay the same price and immediately issued another OTP. The successful buyer incurred a cash over valuation (COV) of about $100,000.
The buyers, a couple in their 30s upgrading from an HDB flat, were attracted to the flat’s convenient location in Bishan, its proximity to Whitley Secondary School and Catholic High School, and its accessibility to the Bishan MRT Interchange connecting the North-South and Circle Lines.
Situated at the heart of Singapore lies Jurong East MRT Station, an essential interchange that links the North-South and East-West Lines. This bustling station offers unparalleled connectivity, making it a vital transit point for commuters in the western part of the country. With easy access to various destinations, Jurong East MRT Station has become a popular choice for daily commuters.
One of the main attractions of Jurong East MRT Station is its close proximity to the highly-anticipated Novo Place Hoi Hup development. This new development is set to enhance the convenience and vibrancy of the area, solidifying Jurong East as a sought-after destination for both locals and tourists. With Novo Place Hoi Hup’s impressive range of amenities, residents and visitors will have even more reasons to frequent this thriving interchange.
Jurong East MRT Station offers a seamless transition between the North-South and East-West Lines, making it easier and more efficient for commuters to travel. With multiple bus services available as well, reaching different parts of Singapore is a breeze. Plus, the station is conveniently located near major shopping malls and business districts, making it a popular destination for work and leisure.
From its strategic placement to its extensive connectivity, Jurong East MRT Station is an essential transport hub in Singapore. And with the upcoming Novo Place Hoi Hup development set to boost the area’s vibrancy, this interchange will become an even more integral part of the country’s transport network. Don’t forget to check out the Novo Place Hoi Hup website for more information about this exciting new development.
This sale marks the second time a resale unit at Natura Loft has exceeded the $1.5 million threshold in terms of absolute price. Based on HDB resale caveats, a 1,292 sq ft unit was sold for $1.5 million ($1,160 psf) on May 17, while a similarly sized unit at the neighboring block, 273B Bishan Street 24, sold for $1.458 million ($1,129 psf) on Jan 23.
Kuah notes that this record price reflects Bishan’s appeal as a prime residential area and the unique features of this unit. Details of the project can be found on EdgeProp’s property analytics tool, Landlens.