In June 2023, a Tiong Bahru HDB flat sold for S$1.5 million, the highest HDB resale price at the time. A Toa Payoh Design, Build And Sell Scheme (DBSS) unit broke that record in a milestone sale today (9 Nov).
DBSS properties are oft-coveted flats built by private developers, with The Peak in Toa Payoh counting among the most popular estates.
Today, a top-floor unit at The Peak was sold for an impressive S$1,568,888.
The property agent who brokered the deal cited the great view, immaculate condition, and convenient location as reasons for securing the record-breaking transaction.
ERA Singapore reported the information in a press release, noting agent Kingsley Zheng had successfully sold a top-floor unit at The Peak, a DBSS development in Toa Payoh.
The transaction occurred so recently that Mr Zheng had not yet submitted it to HDB, the agent told MS News.
DBSS units are HDB flats built by private developers and characterised by unique external features, according to HDB. As such, the flat owners must follow specific guidelines to maintain the development’s aesthetics.
The Peak is one such DBSS development consisting of five blocks, all of which stand at an impressive 40 or so storeys tall.
Source: Google Maps
According to ERA, HDB buyers highly covet a flat at The Peak. Earlier this year, one such five-room DBSS flat there sold for S$1.42 million.
Mr Zheng’s recent sale, however, topped that at a staggering S$1,568,888, claiming the record for the most expensive HDB transaction yet.
An especially large four-room flat at 50 Moh Guan Terrace in Tiong Bahru previously held the record at S$1.5 million.
Source: Google Maps
ERA cited The Peak’s modern design, prime location, and comprehensive amenities as reasons for the high sales figures.
Source: Shin Min Daily News on Facebook
Homeowners enjoy relatively close access to Toa Payoh, Braddell, and Caldecott MRT stations.
According to ERA, the buyers sought to elevate their living standards by transitioning from a 4-room HDB flat to the spacious and well-appointed 5-room unit at ThePeak.
Mr Zheng also spoke to MS News, highlighting the top-floor unit’s “immaculate condition”, great panoramic view, and it being ready to move in as other factors for the astonishing price.
He considered the sale to have established a “new standard in the HDB property market”.
The Peak dethroned the Moh Guan Terrace sale after just over four months on top. The record before that was held by a unit in SkyTerrace@Dawson, and stood for nearly a year.
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Featured image adapted from Shin Min Daily News on Facebook.
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