Yishun jumbo flat sets town record with S$1.28 million resale price

A jumbo executive flat in Yishun has become the town’s most expensive resale Housing and Development Board (HDB) unit, selling for S$1.28 million.

The unit, located at Block 654 along Yishun Avenue 4 within Nee Soon Central View, spans about 1,948 square feet. According to property portal 99.co, this translates to S$657 per square foot.

The flat, which sits between the seventh and ninth floors, has a remaining lease of 65 years and 11 months, based on HDB’s Check Resale Flat Prices database.

Amenities and family appeal

Although the property is not located near an MRT station, 99.co noted its proximity to family-friendly amenities such as Yishun Park Hawker Centre, Wisteria Mall, childcare centres, and several schools.

Analysts said the flat’s large floor area and low-density environment make it particularly appealing to multi-generational families seeking spacious living arrangements.

Growing price gap in Nee Soon Central View

Market data indicates a widening price premium for flats in Nee Soon Central View compared to the Yishun average.

In 2020, units in the area were priced about 20.53 per cent higher than the town average. By 2025, this premium grew to 27.61 per cent.

This is only the second Yishun flat to exceed S$1.2 million. The previous record was set in March 2024, when a multi-generational flat transacted at S$1.2 million.

Wider context of million-dollar flats

Yishun’s new record falls below the highest-value resale flats in central regions. In June 2025, a five-room loft at SkyTerrace @ Dawson in Queenstown sold for S$1,658,888. The all-time record remains a S$1.73 million unit at SkyOasis @ Dawson, transacted in June 2024.

At a media briefing in August 2024, then-National Development Minister Desmond Lee cautioned against overemphasising such headline figures. He said flats sold above S$1 million remain a minority, representing just 0.5 per cent of all four-room or smaller sales over two years.

“These flats are usually in central locations, high floors, and close to MRT stations and amenities,” Lee explained.

Minister warns of market distortion

During a budget debate on 5 March 2025, Lee warned that such transactions could distort market expectations.

“Flat sellers who are reading such news raise their expectations, while flat buyers become anxious to secure flats before prices get higher,” he said.

“If we are not careful, such market dynamics can cause the resale market to run out of line with economic fundamentals and cause a bubble.”

Strong activity in 2024

According to HDB data released on 24 January 2025, resale flat prices rose by 9.7 per cent in 2024. This followed increases of 4.9 per cent in 2023 and 10.4 per cent in 2022.

Although resale transactions fell 21.1 per cent in the last quarter of 2024, the full-year total reached 28,986 units. A record 1,035 resale flats crossed the million-dollar mark in 2024, signalling strong demand for well-located and high-specification units.

Broader implications

Property analysts suggest that the record Yishun transaction underscores the growing willingness of buyers to pay premium prices even in non-central locations, provided units offer size, amenities, and liveability.

They add that jumbo executive flats, which are no longer built, have become increasingly scarce in the resale market, further fuelling demand among families seeking larger layouts.