Five Room Flat Natura Loft Sets Resale Record 1538 Mil Bishan

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A five-room flat in Natura Loft, located at Block 275A Bishan Street 24, has set a new record for resale prices in Bishan. The corner unit on the 30th floor was sold for $1.538 million on May 5, making it the highest resale price for a DBSS flat in the area at $1,190 per square foot (psf).The sale was announced by real estate agency ERA Realty Network, which shared that two of its agents, Shawn Kuah and Emily Yeoh, had facilitated the transaction. The seller, a multigenerational family with a young child and grandparents, was represented by Kuah and Yeoh as they relocate overseas.According to Kuah, the 1,292 sq ft unit was listed for $1.589 million last month and received an offer of $1.538 million within a week of being listed. However, the initial buyer did not end up exercising the option to purchase (OTP). A different buyer was eventually found and a new OTP was issued at the same price of $1.538 million after the first one expired.The successful buyer reportedly paid a cash over valuation (COV) of around $100,000. Kuah also noted that the unit boasts an unobstructed view, which is reflected in the balcony of the master bedroom. The higher floors of the building do not have this balcony, making the unit even more desirable.Natura Loft comprises five 40-storey residential blocks with a total of 480 units and was completed in 2012 under the Design, Build, and Sell Scheme (DBSS). Its prime location in Bishan and proximity to renowned schools such as Whitley Secondary School and Catholic High School, as well as the Bishan MRT Interchange, make it a highly coveted development.According to ERA, the buyers of the unit are a couple in their 30s upgrading from an HDB flat. The sale of the five-room flat marks the second time that a resale unit in Natura Loft has exceeded the $1.5 million threshold. A unit of the same size was sold for $1.5 million ($1,160 psf) on May 17, while a similar unit in the neighbouring block, 273B Bishan Street 24, was sold for $1.458 million ($1,129 psf) on Jan 23.Kuah believes that this record-breaking sale reflects the appeal of Bishan as a prime residential area and the unique features of the unit itself. Interested parties can find more details about Natura Loft on EdgeProp’s property analytics tool, Landlens.