Prestigious schools abound but lack new projects; the resale market for private residences in Bishan is thriving | Lianhe Zaobao

Bishan is a mature residential area in Singapore, equipped with complete facilities, convenient transportation, and surrounded by well-known educational institutions, making it a favorite choice for many families. Lornie MRT Station is just one stop away from Bishan's MRT Circle Line. Nearby, two plots on Qianlin Road have been successfully sold to a consortium formed by Sing Holdings and Sunway Developments. Along with the Chuan Park launched last year, this area will have over 2,000 new private residential units. According to the draft of the "2025 Master Plan" released by the Urban Redevelopment Authority in June this year, Bishan will not only add more community facilities but will also develop into a small regional center, with an additional 200,000 square meters of office space. Some government agencies will relocate to Bishan, driving the overall development of this area. Generally, whenever there are new projects launched or new plans promoted within or around the district, it will stimulate resale activities of nearby private residences, and resale prices will also be pushed up. Therefore, private residences in Bishan are expected to be actively promoted. Sky Habitat, located near Bishan's Eighth Station Shopping Center, was completed in 2015. It has 38 floors and a total of 509 units. The transactions for this 99-year leasehold project are very active. In August, a transaction was completed for a high-floor unit of 872 square feet, with a sale price of SGD 1.64 million, equivalent to SGD 1,880 per square foot. A larger mid-floor unit of 1,798 square feet was resold in June this year at a price of SGD 1,947 per square foot, with a total sale price of SGD 3.5 million. In the same month, a smaller low-floor unit was resold for SGD 2.56 million. This 1,249 square foot unit had a price of SGD 2,049 per square foot. Sky Vue, completed in 2017, has 37 floors and a total of 694 units. Currently, there are 19 units for sale and 26 units available for rent on the PropertyGuru website. (Photo by Wu Xianbang) Sky Vue, adjacent to Sky Habitat, is also a 99-year leasehold project completed in 2017. It has 694 units across 37 floors. Currently, there are 19 units for sale and 26 units available for rent on the PropertyGuru website. Further Reading [Height restrictions for buildings around the airport relaxed, private residences in Changi area expected to increase in value] ](https://www.zaobao.com/finance/singapore/story20250919-7461621) Population surge with more young families, demand for private housing in Punggol is on the rise In August, Qingjing recorded two transactions, both priced above SGD 2,100 per square foot. One high-floor unit of 495 square feet achieved a resale price of SGD 1.05 million, equivalent to SGD 2,121 per square foot. Another larger high-floor unit was sold for SGD 1.5 million, with a price per square foot reaching SGD 2,212 for the 678 square feet unit. Well-equipped with convenient transportation and several prestigious schools nearby The Bishan area is attractive not only for its convenient transportation and mature living facilities but also for its prestigious schools within the district, such as Raffles Institution, Raffles Girls' School, and Catholic High School. Bishan 8, located on Bishan Street 21, is closer to Raffles Institution compared to Qingyu and Qingjing. However, this 99-year leasehold private residence was completed earlier, in 2000, and is a smaller project with only 200 units. Resale activity at Bishan 8 is not active, with the most recent transaction being a unit of 1,163 square feet, which sold for SGD 1.703 million in December last year. In August this year, a transaction occurred with a price per square foot rising to SGD 1,908, totaling SGD 2.22 million. This project is about a six-minute walk to Bishan MRT Station. According to PropertyGuru, there are currently two units for sale and three units for rent, with a 1,334 square feet unit asking for a monthly rent of SGD 5,000. Similarly, Rafflesia Condominium, also a 99-year leasehold project, is the closest to Raffles Institution. This project was completed in 2002 and has 230 units. Last month, a mid-floor unit was sold for SGD 1.45 million, with an area of 915 square feet, resulting in a price per square foot of approximately SGD 1,585. Units resold in July were all high-floor units, also with an area of 1,195 square feet One unit has a selling price of 1.97 million yuan, with a price per square foot of 1,649 yuan, while another changed hands for 2.01 million yuan, with a price per square foot reaching 1,682 yuan. Currently, there are four units listed for sale on the PropertyGuru website. A 915 square foot unit is priced at 1.5 million yuan, with a price per square foot of approximately 1,639 yuan; a 1,302 square foot unit is priced at 2.58 million yuan, with a price per square foot of 1,982 yuan