2012 The Peak@Toa Payoh HDB sold for S$1.42 Million!

Most expensive 5-rooms resale flat in Singapore

2012 The Peak@Toa Payoh HDB sold for S$1.42 Million! This surpasses S$1,418,000 for Sky Terrace @ Dawson’s 5-bedroom HDB resale flat sold in 2022. This flat is also the most expensive HDB resale apartment in Toa Payoh, and just recently, made it the second most expensive HDB resale apartment across the island after Tiong Bahru’s flat, which sold for S$1.5 million.

Why are these HDB flats expensive?

Most Expensive District

Hotspots such as the city centre (Tanjong Pagar), Bishan and Queenstown (including Holland Village) have the most million-dollar HDB homes for sale.

So, it came as quite a surprise to some that his five-bedroom HDB flat in Toa Payoh sold for $1.42 Million. Who said HDB flats can’t be a good investment?

Million-dollar Views

Apart from location, size and obvious factors, there is another strong pattern. Units on higher floors are more likely to sell for higher prices.

A statistical analysis conducted earlier this year found that every five-bedroom HDB flats over 40 floors resold since 2015 fetched more than $75 million. For five-room HDB flats on floors 31 to 39, this value drops to 37%.

And for the 5-room HDB apartments on the 19th to 30th floors, the percentage drops further to 2.7%.

Rare DBSS HDB

In addition, the flat is also known as “Premium HDB” as it is part of the DBSS (Design, Build and Sell Scheme) project. Introduced in 2005, this DBSS unit was sold by HDB, but was designed and manufactured by a private developer. These units are mostly located in older housing estates and are said to be built to resemble condominiums and to a higher quality design.

The program was discontinued in 2012, making DBSS units a rarity.

Home downgraders are the most common group interested in multi-million dollar homes, real estate agents say. Other buyer groups interested in such properties include naturalized Singaporeans, dual-income couples in their 30s with high earning power and wealth.