HDB flat in Toa Payoh sold at new resale high S$1.57 million
Owners expect more when they hear that their neighbours recently sold their flats for one million dollars or even higher. In addition, as the new classification of flats will be implemented later this month, many owners hold firm to their asking price, since their flats are not subject to resale limitations.
Private developers are responsible for the construction of flats that fall under DBSS. Singapore has 13 such projects.
The project is divided into two 42-storey blocks and three 40-storey blocks. It has a total 1,203 units ranging from flats with three rooms to those with five rooms.
A five room unit in the development can be found between 1,184 square foot (sq ft), and 1,259 sq ft.
The HDB-owned four-room flat at Mohguan Terrace 50, sold for S$1.5M. This transaction was significantly higher than the previous highest.
This unit in Tiong Bahru, Singapore is located on floor four and has a total strata area 1,894.5 ft2. This unit has a 99 year lease that began in 1973.
In January, a FIVE-ROOM Design, Build and Sell Scheme Public Housing Flat at 139A Lorong 1 Toa Payoh, sold for S$1,568,888, broke the record for most expensive resale property in Singapore. The unit can be found on levels 40 and 42.
The property is located within The Peak at Toa Payoh. The project was completed by 2012.
In 2023, the number of flats sold that cost S$1 million and above was 470, which was 27,4 percent more than what had been sold in 2022. This figure only represents 1.8 percent of total transactions for 2023.
As of January 26, HDB flats were worth 56 millions dollars.
