Toa Payoh HDB flat broke new resale high S$1.57 million
A five-room Design, Build and Sell Scheme flat (DBSS), public housing, at 139A Lorong 1 Toa Payoh, was sold in January for S$1,568,888, shattering the record as the most expensive resale condo in Singapore. The unit is situated on the levels 40-42.
The deal was brokered in November 2023 by ERA Realty Network. The apartment is located at The Peak@ Toa Payoh and was completed in 2012.
A five-room home at the development is available in sizes ranging from 1,184 square feet to 1,259 sq ft.
Owners are more likely to expect a higher price for their own flats when they learn that their neighbours sold theirs for at least a million bucks. With the recent changes in flat classification coming into force later this summer, many owners have been holding their prices because their flats don’t come with restrictions on resale.
In 2023 there were 470 flats sold for S$1million or more. This was 27,4% higher than 2022. But these figures only represented 1.8 per cent in total 2023 transactions.
As of Jan. 26, HDB flats have sold for 56 million dollars.
The HDB flat of four rooms at Moh Gong Terrace, 50 Moh Gong Terrace that changed hands for S$1.5million was the previous record.
The unit in Tiong bahru is on the fourth-floor, and has a strata space of 1,894.5 square feet. It is leased for 99 years starting from 1973.