In an impressive turn of events, a Multi-Generation (MG) flat located at Block 137 Bishan Street 12 has shattered previous records by selling for a staggering S$1,548,888. This sale not only marks a significant milestone for the Bishan area but also sets a new national benchmark for the MG flat category, surpassing the previous record by S$160,000.
The flat boasts a spacious layout of 1,776 square feet, which translates to a price of approximately S$872 per square foot. This mid-floor unit is a testament to the growing demand for larger living spaces in Singapore, particularly for families looking to accommodate multiple generations under one roof.
Just days prior, a Yishun MG flat had made headlines by becoming the second-highest sale of its kind, highlighting the ongoing trend of escalating prices in the property market. The rapid increase in value for MG flats reflects a wider shift in buyers’ preferences, as many are now prioritizing larger living spaces that can house extended families.
As Singapore’s real estate market continues to evolve, it will be interesting to see how future sales in the MG flat segment unfold and whether this record will stand the test of time. The Bishan Green flat’s sale is not just a significant financial transaction, it also underscores the importance of multi-generational living in the fabric of Singaporean society.