Can you imagine dropping more than $1 million on a resale HDB flat?
Well, someone just did and he or she effectively made history (at least for a while).
Toa Payoh HDB Flat Has Broken the Record As the Most Expensive 5-Room HDB Flat at $1.42 Million
According to 99.co, someone bought a 5-room HDB resale flat at Toa Payoh for a whopping $1.42 million.
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That made it the most expensive 5-room HDB flat in Singapore.
The previous holder for the title was a 5-room HDB resale flat at Sky Terrace@Dawson, which sold for $1.418 million.
Great Accessibility and Amenities
The flat in question is 1,259 sqft (117 sqm), pricing it at $1,128 psf.
Perfect for a high flyer, the flat is located in the 40th to 42nd level of The Peak @Toa Payoh at Lorong 1A Toa Payoh.
This gives the new owner access to three MRT lines, North-South Line, Circle Line and Thomson East Coast Line, within walking distance.
Caldecott MRT is a nine-minute walk away while Braddell MRT is a eight-minute walk away.
The home is also within the 1km radius of three schools: CHIJ Primary School, Kheng Cheng School and Marymount Convent School.
Here’s what the amenities are like within the estate:
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The project currently has 88 years left on its lease. It was completed in 2012 and the minimum occupancy period was completed in 2017.
A Rare DBSS Project
One reason why the price could reach sky high could be due to its premium nature.
The Peak @ Toa Payoh is part of the Design, Build and Sell Scheme (DBSS) where private property developers built the HDB units.
These units were built in mature estates and are presumedly of better quality and designs resembling condominium units.
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Unfortunately, the scheme, which was started in 2005, was suspended in 2012. Currently, there are 13 DBSS sites in Singapore according to HDB.
Only The Second-Most Expensive Resale Flat Islandwide
Think $1.42 million is already sky high? The 5-room HDB resale flat may be the most expensive resale flat in Toa Payoh but island wide, it’s only the second-most expensive.
I can hear my bank account crying in fury now.
The most expensive resale flat in Singapore belongs to a 4-room HDB flat located at Tiong Bahru.
A four-room HDB flat on the fourth floor of 50 Moh Guan Terrace was sold for a record-breaking $1.5 million.
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Perhaps the most impressive thing about this transaction is the flat’s “age”—it is 50 years old.
In addition, its new owners will have to climb four storeys whenever they return home as the block doesn’t have a lift.
The flat, one of only three four-room units at Block 50, boasts a total floor area of 176 sqm. For reference, four-room BTO flats measure an average of 85 to 95 sqm.
It seems like size is everything, isn’t it? No lift, a shorter lease but with a much higher price tag.
If you’re worried, don’t be. While it seems like everyone is getting into these million-dollar flats, most flats are still being transacted at reasonable prices.
In fact, these million-dollar HDB flats don’t even constitute 2% of all public housing resale transactions in Singapore.
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