Property prices in Bukit Timah have hit a record high after a local couple purchased a repurposed broom closet for $4.2 million.

The 12-square-foot luxury unit is located exactly 49 metres from the school gate, ensuring their unborn offspring is already ahead of the competition.

“Liddat worth it lah, my son not even born but I already see him wearing the elite uniform,” said Mr Tan, while eating cardboard to afford the monthly mortgage.

“Where got expensive? You buy the status leh, stay inside toilet also can as long as the postal code is correct,” he added.

Property agents claim the market is heating up as desperate parents now bid for the rights to sleep in the school’s drainage system just for the address.

Experts suggest that by 2030, a parking lot near a prestigious institution will cost more than a small European country.