SINGAPORE - The property market may be on the downtrend, but that did not stop a Housing Board maisonette in Bishan from fetching an auspicious $1,088,888 on the resale market in October and setting a new record.

The 150 sq m unit is located between the 22nd and 24th storeys of Block 194 at Bishan Street 13, near Bishan MRT.

Rare executive maisonette units in Bishan frequently fetch high prices.

The previous record price of $1.05 million was set in December 2013 by one such unit, a 150 sq m maisonette on the 20th floor of Block 190 at Bishan Street 13. Another maisonette in the same block has just sold for $1 million this December.

These remarkable deals took place even as overall prices in the HDB resale market have been sliding.

In November, HDB resale prices fell for the 10th month in a row to hit a 40-month low, according to Singapore Real Estate Exchange figures. Since the previous peak in April 2013, resale prices have fallen 9.8 per cent.