Just days after a Yishun Multi-Generation (MG) flat became Singapore’s second-highest sale of its kind, the national record has already moved again. A rare MG flat at Block 137 Bishan Street 12 has reportedly sold for S$1,548,888, setting a new national record for the flat type.
The 1,776 sqft, mid-floor unit fetched approximately S$872 psf. It is the same dual-key home that we featured in July 2026, when it entered the market with an asking price of S$1,588,888.
According to listing agents Jason Lee and Christine Tan, the unit was on the market for around seven weeks. The Option to Purchase (OTP) was granted in early August and exercised towards the end of the month. The final price came in S$40,000, or approximately 2.5%, below its asking price.
Table of contents
- This means the national record is now up by S$160,000
- The same dual-key home we featured in July
- The buyer was initially considering private property
- What’s behind the flat’s record price?
- Multiple offers had already crossed the previous record
- Did the removal of the 15-month wait-out period widen the buyer pool?
- Are buyers paying more for irreplaceable space?
- Could another MG flat surpass S$1.55 million?
This means the national record is now up by S$160,000
Before this transaction, the national MG record stood at S$1,388,888. That sale also came from Block 137 Bishan Street 12 and involved another 1,776 sqft unit, which changed hands in May 2025. The latest sale surpassed it by S$160,000, or approximately 11.5%. On a per-square-foot basis, the new record is around S$90 psf higher.
It has also reshuffled the national rankings shortly after a 1,625 sqft MG flat in Yishun sold for S$1.212 million. That transaction briefly ranked second nationally but now sits behind both Bishan sales.
| Transaction | Latest Bishan record | Previous Bishan record | Recent Yishun sale |
| Transaction date | Aug 2026 | May 2025 | Sep 2026 |
| Location | Blk 137 Bishan Street 12 | Blk 137 Bishan Street 12 | Blk 666 Yishun Avenue 4 |
| Size | 1,776 sqft | 1,776 sqft | 1,625 sqft |
| Sale price | S$1,548,888 | S$1,388,888 | S$1.212M |
| Approx. psf | S$872 | S$782 | S$746 |
The same dual-key home we featured in July
If the unit sounds familiar, that is because we first featured it when it entered the market in July.
One of its biggest draws was its unusual dual-key layout. The home is currently divided into a 3-bedroom main residence of more than 1,200 sqft and a separate 1-bedroom section measuring approximately 500 sqft. Each side has its own living facilities, while the flat has three bathrooms, a full kitchen and a kitchenette altogether.
This arrangement was not created by simply subdividing a conventional HDB flat. The separation comes from the home’s original MG design. An access balcony outside the two sections was later purchased and incorporated into the flat, so one main entrance now opens into a private foyer. From there, two internal doors lead to the respective living areas.
This gives household members some privacy and independence while keeping everyone under one roof. If that separation is no longer needed, the two sections can also be opened up and used as one much larger home.
The buyer was initially considering private property
The eventual buyer was not specifically searching for an MG flat. They were planning to move from private property to an HDB flat and wanted a home that would still give them plenty of space. At the same time, they had also been exploring other private housing options.
According to the agents, neither the buyer nor their agent was initially familiar with the older MG flat type. It was the unit’s 1,776 sqft floor area that first caught their attention and encouraged them to arrange a viewing.
Once they saw the home in person, its potential became clearer. The buyer could not meet the family-nucleus requirements for a newer 3Gen flat, so the original MG layout offered another way to secure a large and flexible home without the same eligibility criteria.
The dual-key arrangement was useful, but it was not the only reason behind the purchase. What appealed to the buyer, and several others who viewed the unit, was the freedom to reshape the space around their own needs, rather than having to retain its current configuration.
What’s behind the flat’s record price?
No single feature explains the S$1,548,888 price. Rather, the home offered a combination of space, flexibility and location that is difficult to find within the HDB market.
At 1,776 sqft, the flat is considerably larger than a typical new 5-room unit. All that space is also arranged on one level, which may be more convenient for households with elderly family members than an executive maisonette with internal stairs.
Its rectangular floor plate gives future owners plenty of room to rethink the layout. Depending on what the household needs, the home could provide larger shared spaces or potentially be reconfigured with as many as six bedrooms.
Even the three bathrooms add practical value. It may sound like a small detail, but it can make daily routines much easier when several generations or a larger family are living together.
Then there is the location. Bishan’s central position, established amenities and strong transport links could appeal to a wider pool of buyers, not just those specifically looking for an MG flat. Bishan MRT station and Junction 8 are approximately 1.1km away, or a short bus ride from the block. Closer to home, residents can find neighbourhood shops, eateries and Chung Ling Wet Market within around 400m.
Together, these features gave the unit an appeal that went beyond size or rarity alone.
Multiple offers had already crossed the previous record
Interest in the unit came from several buyers during its seven weeks on the market. In fact, some earlier offers had already crossed the previous national MG record of S$1,388,888.
However, the sellers did not accept the first record-breaking offer. They believed that the home’s size, flexible layout and Bishan location supported a higher price, so they waited for an offer that better reflected those qualities.
After negotiations with a few interested parties, discussions eventually focused on the most serious and purchase-ready buyer. Both sides then agreed on the final price of S$1,548,888.
One challenge was that many prospective buyers had either never encountered an original MG flat or assumed it was the same as a newer 3Gen unit. Buyers therefore needed to understand not only what this particular home offered, but also how MG flats differ from executive apartments, executive maisonettes, jumbo flats and 3Gen homes.
To make the unfamiliar layout easier to understand, the agents introduced it through the more recognisable “dual-key” concept. Floor plans and renovation ideas also helped viewers picture how the space could be adapted for households that needed anything from three to six bedrooms.
Did the removal of the 15-month wait-out period widen the buyer pool?
The timing of the sale also coincided with a significant change to HDB resale rules.
When it was first listed in July, private residential property owners and former owners generally had to wait 15 months after selling their property before they could buy a non-subsidised HDB resale flat. That requirement was removed with immediate effect in late July 2026, provided buyers purchase a non-subsidised resale flat without taking an HDB housing loan.
According to the agents, some of the unit’s more serious prospective buyers had still been serving the wait-out period. Once the rule was lifted, the home became accessible to a wider group, including households that might otherwise have continued searching within the private market or delayed their move to an HDB flat.
Are buyers paying more for irreplaceable space?
Original MG flats make up a tiny part of Singapore’s housing stock. Fewer than 500 are believed to remain nationwide, with just 93 located in Bishan.
Built in the 1980s, these flats are no longer produced today. The same goes for other especially spacious HDB types, such as executive apartments, executive maisonettes and jumbo flats. This means families searching for a genuinely large home now have a limited, and ageing, pool of options.
For households that need the extra room, especially those moving from private or landed homes, finding a comparable replacement may not be easy. However, size and rarity alone do not guarantee a record price. A larger home usually comes with a bigger renovation bill. Buyers must also consider the remaining lease, which can affect financing, CPF usage and whether the flat suits their longer-term plans. As Block 137 was completed in 1987, the unit has approximately 60 years left on its lease.
These trade-offs may help explain why many of the more serious viewers were reportedly in their 40s and above. Rather than prioritising the longest possible lease, these buyers may place more value on finding enough space for their household now – and have the budget to act when a suitable home appears.
For the eventual buyer, the pieces seem to have come together: a large home arranged on one level, a layout that could be adapted over time and a central Bishan location, all at a lower price than many similarly sized private properties.
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Could another MG flat surpass S$1.55 million?
A record like this may prompt other MG flat owners to wonder whether their homes could achieve a similar price. However, S$1.55 million should not be seen as the new benchmark for every MG unit.
Even within this rare flat type, no two homes are quite the same. Their value can vary depending on the location, floor level, views, condition and how easily the layout can be adapted to different household needs.
According to Jason and Christine, a comparable MG flat in a central location, particularly one on a higher floor with better views, would stand the strongest chance of breaking the latest record. Its condition and layout flexibility would also play a part.
Still, bringing all these qualities together is easier said than done.
Record-breaking HDB sales naturally draw attention, but they remain the exception rather than the norm. In this case, the buyer was not paying for size or rarity alone. The home offered a combination of features that matched what they needed and were willing to pay for.
As the agents put it: “A property that fits your lifestyle and offers something genuinely irreplaceable is what justifies a record price.”
For this buyer, that meant securing 1,776 sqft of flexible, single-level living space in a central Bishan location – a combination that may not come onto the market again anytime soon.
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
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