Bukit Timah 2-Storey HDB Flat Sold For S$1.29M, Becomes S’pore’s Most Expensive Exec Unit
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It overtook three previous record holders that sold for S$1.288 million this year.
By Jeremy Lee - 12 Dec 2022, 2:53 am
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Bukit Timah 2-Storey HDB Flat Sold For S$1.29M Is Most Expensive Exec Unit, Has 64 Years Left On Its Lease
As news spread about HDB flats going for sky-high prices in Singapore, cooling measures were introduced by the Government in September.However, it seems some flats are still going for eye-watering sums.
The latest to do so is a two-storey HDB flat in Bukit Timah that sold for S$1.29 million.
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Source: Google Maps
It’s now the most expensive executive flat in Singapore.
Million-dollar flat is in Toh Yi Drive
The million-dollar flat is located in Block 3 Toh Yi Drive in the Bukit Timah area, according to property website 99.co.
Source: Google Maps
The executive maisonette is on a low floor, i.e. first to third floor, it’s not exposed to heat from the sun coming through the roof.
One of 64 such flats in the block, it’s also spacious, with its two floors making up a total of 1,615 square feet (sq ft).
As it was sold in December for S$1.291 million, that makes it about S$799 per sq ft (psf).
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Bukit Timah flat is most expensive exec flat in Singapore
Based on this, 99.co has declared it the most expensive executive flat in Singapore.The previous record holders were two flats in Queenstown and one in Bishan that all sold for S$1.288 million in July, September and January respectively.
The two Queenstown flats are located in Block 150 Mei Ling Street and the Bishan flat is in Block 101 Bishan Street 12.
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However, the previous record holder in Bukit Timah was also a flat on Toh Yi Drive — in Block 6.
Source: Google Maps
This 1,572 sq ft executive maisonette was sold in September for S$1.28 million, or S$814 psf.
It’s located in the seventh to ninth floor of the block.
While the flat in Block 3 was sold for a higher price, the flat in Block 6 has a higher psf price — meaning it still holds the record for executive flats in terms of psf price.
Bukit Timah flat has 64 years of lease left
One possible drawback of the flat in Block 3 is that it was completed in 1 Aug 1988.Thus, it has just 64 years and 8 months of lease remaining.
However, those who’re not that young in the first place may not mind.
450m walk from Beauty World MRT
They would also be drawn to the sheer convenience of the location — the block is a mere 450m walk from Beauty World MRT station.
Source: Google Maps
A variety of food and retail options are also available, including Bukit Timah Market & Food Centre just behind and malls like Bukit Timah Shopping Centre and Beauty World Centre across the road.
There’s also Cheong Chin Nam Road, a long street filled with eateries that serve every palate.
Source: Google Maps
As for educational institutions, Pei Hwa Presbyterian Primary School is also nearby.
Toh Yi Drive an HDB resale hotspot
Toh Yi Drive has become somewhat of an HDB resale hotspot in recent months.Up till 11 Dec, all of this year’s resale transactions of condo-style and five-room flats in Bukit Timah have been from Toh Yi Drive, according to HDB data quoted by Shin Min Daily News.
All 11 of the condo-style flats sold went for more than S$1 million and were all two-storey executive maisonettes.
The 10 five-room flats all sold for above S$800,000, with the highest going for S$980,000 — just shy of a million.
99.co also pointed out that the average psf prices of executive flats in Toh Yi Drive have soared by 27.44% since 2020, compared with Singapore’s national average of 22.55%.
That means an executive flat in Toh Yi Drive would cost S$1,205,658 on average, while the Singapore average for such flats is S$718,058.
I pity the young adults and children.
