This month, an HDB maisonette in Bukit Timah became the estate’s most expensive executive flat after it changed hands for a whopping S$1.41 million.
The sale eclipses the previous record that was set in January.
The unit boasts a remaining lease of 63 years and four months.
According to data on HDB’s website, the maisonette is situated at 2 Toh Yi Drive, covering an area of 146 sqm.
Source: Google Maps
It is located between the 10th and 12th floors.
With a selling price of S$1.41 million, it commands a rate of approximately S$896 per square foot.
Earlier in January, another maisonette between the 4th to 6th floors in the same block fetched S$1.36 million.
Speaking to Shin Min Daily News, Lee Sze-Teck, Senior Director of Data Analytics at Huttons, highlighted that executive maisonettes are rare as the government no longer builds them.
This scarcity contributes to their steep prices.
The flat’s prime location near various essential amenities makes it highly desirable, 99.co noted.
Residents can easily access Beauty World MRT station with just a five-minute walk, while Bukit Timah Market and Food Centre offer an abundance of dining options.
Source: Google Maps
As for retail options, there are a couple of adjacent shopping complexes such as Bukit Timah Shopping Centre, Beauty World Centre, and Beauty World Plaza.
Nearby educational institutions like Carpe Diem Schoolhouse @ Toh Yi and Pei Hwa Presbyterian Primary School add to its appeal.
According to Nicholas Mak, Chief Researcher at real estate platform MOGUL.sg, new public housing projects in Bukit Timah will introduce stricter resale restrictions, such as a minimum 10-year residency requirement.
This will likely leading to increased demand and prices for public resale flats in the area.
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Featured image adapted from Google Maps.
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