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Price boost for 'limited edition' executive maisonettes

Experts say value will go up as HDB will not be building new ones

Published on Oct 22, 2012 6:00 AM
 
The Government's announcement last week that it will not build any more executive maisonettes is music to the ears of duck rice seller Raymond Loke, 48, who has put his Choa Chu Kang maisonette on the market. He hopes to fetch a good price for the "limited edition" flat and buy an HDB shophouse. -- ST PHOTO: NURIA LING

The Government's reiteration that it will not build new executive maisonettes will further boost the prices of such "limited edition" units, said analysts.

These large, two-storey flats have become highly sought-after in the last few years due to a growing price gap between Housing Board flats and private property, and a wave of collective sales that have thrown up cash-rich buyers looking for big spaces.

Some flats in neighbourhoods like Bishan have made headlines for fetching record prices. This year, four of the eight units that broke the $900,000 threshold were executive maisonettes.

HDB stopped building these homes, which range in size from 138 sq m to 243 sq m, in 1995. There are 65,000 executive flats altogether, of which executive maisonettes form one group.

 
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