Toa Payoh HDB flat records new resale record of $1.57m

In January, a five-room Design, Build and Sell Scheme public housing flat located at 139A Lorong 1 Toa Payoh sold for S$1,568,888, breaking the record of the most expensive resale apartment in Singapore.

The unit, according to the data, is located between levels 40 and 42.

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According to an earlier press announcement in November 2023 the deal was brokenred by ERA Realty Network. The unit is located in The Peak @ ToaPayoh which was completed in 2012

Private developers build flats under the DBSS program for public housing. Currently, there are 13 such projects currently in Singapore.

The project consists of three blocks, each 40 stories high, and two blocks, each 42 floors tall. It has a total 1,203 apartments, from 3-room flats to 5-room flats.

The previous record was a four-room HDB jumbo flat at Moh Guan terrace, which sold for S$1.5million.

This unit is located in Tiong BAHRU on the 4th floor with a strata of 1,894.5 sq. ft. The lease is for 99 years, starting in 1973.

Owners are more likely to expect a higher price when they learn that their neighbors have sold their apartment for one million dollars or even more. He added that, as a result of recent changes in flat classifications, which will take effect later this year “many owners” are sticking to their asking price, since their flats don’t come with any resale restriction.

Huttons data revealed that in 2023 there will be 470 apartments sold at S$1,000,000 or higher, which is 27.4% more than 2022. These figures, however, only represented 1.8 percent of all transactions in 2023.

On Jan. 26, HDB flats worth 56 million dollars were sold.