SINGAPORE: Record-Breaking Sale in Toa Payoh

In a stunning turn of events, a five-room Design, Build, and Sell Scheme (DBSS) flat located in the vibrant district of Toa Payoh has recently sold for a jaw-dropping $1.6 million, shattering previous resale price records for the area. This remarkable sale has sent ripples through the property market and is especially noteworthy as it marks the first time a DBSS flat in Toa Payoh has crossed the coveted $1.6 million threshold—though it still trails behind the $1.73 million record set by a similar flat in Queenstown last year.

Details of the Flat

Nestled in The Peak @ Toa Payoh on Lane 1A, this spacious unit covers an impressive 117 square meters and is positioned between the 19th and 21st floors, providing breathtaking views of the surroundings. The flat boasts a remaining lease of 86 years and six months. Official records indicate that the deal was finalized earlier this month, further fueling excitement in Singapore's housing sector.

Market Implications

The Peak @ Toa Payoh has established a reputation for commanding premium prices in the resale market. According to property analytics from 99.co, the development stands out as one of the top performers in terms of resale value. In 2024 alone, seven out of 23 five-room flats that were sold for over $1.5 million in the area hailed from The Peak @ Toa Payoh, underscoring its desirability.

Comparison with Other Markets

Despite this impressive sale, the highest resale price for an HDB flat in Singapore remains the astonishing $1.73 million achieved for a five-room unit at SkyOasis@Dawson in Queenstown, which occurred in July 2024. As the demand for high-end HDB flats shows no signs of waning, this record-setting transaction in Toa Payoh reflects a growing trend that favors premium public housing options, particularly in prestigious developments like The Peak @ Toa Payoh.

Looking Ahead

With the real estate market hotter than ever, potential buyers and sellers alike are eager to see what new records might be set in the coming months!