Record Breaking HDB Sold up to $1,200,000 In Toa Payoh, Geylang & Hougang

Just a few days ago, it was shared that a 4-room HDB resale in Geylang broke the S$1 million mark. Now, similar sales have occurred in Toa Payoh and Hougang, with another 4-room flat in Toa Payoh selling for S$1.2 million and a 5-room flat in Hougang exceeding S$1 million. 

• S$1,200,000 HDB resale in Toa Payoh is the most expensive 4-room transaction in town

• S$1,088,000 maisonette in Hougang is the first 5-room resale in Hougang to break the S$1M barrier

• S$1,007,000 Geylang sees second S$1 Million 4-Room flat in two days

S$1,200,000 HDB resale in Toa Payoh is the most expensive 4-room transaction in town

The most expensive transaction among these recent sales took place in Toa Payoh. 

Located at Lorong 1 Toa Payoh, Block 131B, this 4-room flat sold for a staggering S$1.2 million, setting a new record for the area. The unit, situated on the 31st to 33rd floors, benefits from being on one of the higher floors of the 40-story building, likely contributing to its high price. 

With a size of 1,001 square feet, the price per square foot (psf) stands at S$1,198.80.

This property is part of the Toa Payoh Crest project, which started its lease in 2018, leaving 93 years and 3 months remaining on the 99-year lease. 

Check your affordability with 99.co’s affordability calculator!

 If you think this project sounds familiar, you’re right. Toa Payoh Crest has made headlines before. In March 2024, a 4-room flat in the same project sold for S$1.101 million (S$1,099.90 psf). Just one week after that sale, another 4-room flat in the project surpassed this price, selling for S$1.15 million (S$1,148 psf). 

Now, the current transaction at S$1.2 million marks a 4.17% increase from the previous high.

Here are the top 10 most expensive 4-room transactions in Toa Payoh Crest:

Considering its prime location between  Braddell MRT on the North-South Line and Caldecott MRT station on the Thomson-East Coast Line, as well as being across from the Toa Payoh West Market & Food Centre with unobstructed skyline views, it’s no surprise this project continues to break records. Looking for a property close to an MRT station of your choice? Check out 99.co’s MRT map here.

S$1,088,000 maisonette in Hougang is the first 5-room resale in Hougang to break the S$1M barrier

Next, a significant milestone was reached in Hougang with the sale of a 5-room maisonette for S$1.088 million. This sale marks the first time a 5-room resale flat in Hougang has broken the S$1 million barrier. 

Located at Hougang Steet 21, this unit spans the 10th to 12th floors and covers 1,528 square feet, resulting in a price per square foot of S$712.04. While the average psf for this area in 2024 is around S$571, the higher price is justified due to the maisonette’s size and features.

The lease for this project started in 1984, leaving 59 years and 4 months remaining on the 99-year lease. 

However, if you’re looking for maisonettes in Hougang under S$1 million, there are 18 such units for as low as S$820,000 (S$556 psf).

Interested in upcoming new launches for the year? Take a look at your options here: 8 new launches expected in Q2 of 2024

This property is well-served by nearby train stations, including Kovan (NE13) within a 13-minute walk, Defu (CR7) within a 9-minute drive, and Hougang (NE14, CR8) within a 10-minute drive. 

Additionally, Xinghua Primary School, Holy Innocents’ Primary School, and Paya Lebar Methodist Girls’ School (primary) are among the nearest primary schools.

Nearby amenities include Cold Storage Hougang, NTUC Fairprice (Hougang Blk 202), and Giant (Kovan Centre), with shopping options at Heartland Mall-Kovan, NEX and Hougang Mall. 

Top six most expensive 5-room transactions in Hougang as of June 2024:

As you can see from the table above, the 5-room maisonettes in this project and those in Parkland Residences have been neck-and-neck in terms of sale prices, both frequently reaching very close to the S$1 million mark. 

Before this S$1.088M record-breaking sale, the most expensive transaction for a similar unit was S$991,688 in April. This latest sale marks a significant jump of S$96,312, which translates to an 8.85% increase. 

Rather look at condos that will MOP this year? Have a read here: Upcoming Executive Condos (ECs) that will MOP in 2024 & 2025

S$1,007,000 Geylang sees second S$1 Million 4-Room flat in two days

Finally, Geylang saw its second 4-room flat crossing the S$1 million mark in just two days.

Located at Circuit Road, Block 82A, this flat sold for S$1,007,000. Situated on the 13th to 15th floors, the unit spans 1,001 square feet with a psf of S$1,006.99. The lease for this project has 95 years remaining.

Looking for more HDB flats that MOP-ed recently besides MacPherson Spring? Check out our article here: Full list of BTO projects hitting MOP in 2024/2025 & Our top picks near the MRT

Recently, another 4-room HDB in Macpherson Spring, also at Block 82A, sold for S$1,006,888, just a couple of days before this transaction. The two sales, within the same block and floor range, indicate a rising trend in property values in this area.

In fact, from the sales trend of units over S$900k in Macpherson Spring filtered to just May and June 2024, it is evident that the S$1 million transactions were not far behind, and more record-breaking sales are likely in the future.

Source: 99.co

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