New resale high S$1.57 million Toa Payoh HDB flat sale
Private developers construct flats designed for public housing under the DBSS scheme. There are thirteen projects like this in Singapore.
A FIVE ROOM Design, Build and Sell Scheme DBSS public housing flat in 139A Lorong 1 Toa Payoh, Singapore, was sold for S$1,568,888, which broke the record price for the most costly resale unit in Singapore. The unit lies between levels 40 and 42.
The deal, according to a press release from November 2023, was arranged by ERA Realty Network. The unit, located at The Peak @ Toapayoh in 2012, was completed.
The development is made up of two blocks each with 42 storeys. Three blocks each have 40 storeys. A total of 1,203 apartment units are available, ranging between three-room and five-room apartments.
The five-room units at the project range in size between 1,184 square feet and 1,259 sq ft.
The HDB’s four-room jumbo HDB flat at Mohguan Terrance, which was sold for S$1.5 million, had been the previous high.
The fourth-floor unit in TiongBahru has a strata surface of 1,894.5sq ft. It is a 99-year term lease starting in 1973.
For 2023 470 apartment units were sold with a S$1,000,000 price tag or higher. This is a 27.4% increase over the 2022 number. The figures represent only 1.8% of all 2023 transactions.
As of 26 January, HDB flats sold for more than 56 million dollars.
Owners become more optimistic when they find out that their neighbors sold their apartments for over a dollar million. As the changes to flat classifications that will take effect later in this year are coming to pass, many flat owners are sticking to their asking prices, because their apartments do not come under resale restriction.