$1.2m Toa Payoh flat ranks among Singapore's top 10 most expensive 4-room sales

If you've been following the property market, you've likely seen the rise of million-dollar HDB resale prices.

At first, larger units — like 5-room flats, executive apartments, maisonettes, and jumbo flats — dominated the headlines with their hefty price tags.

However, as the market evolved, even 4-room flats began making waves with impressive sales figures.

A recent sale of a 4-room flat in Toa Payoh for S$1.201 million has now made its mark, not only as the priciest in the entire project and estate, but also as one of the top 10 most expensive 4-room flats sold in Singapore (excluding Pinnacle @ Duxton transactions).

The S$1,200,888 4-room unit in Toa Payoh Crest

This record-breaking 4-room flat is located in Block 130A along Lorong 1 Toa Payoh.

Sitting somewhere between the 37th to 39th floors, this flat is part of a nearly 40-storey development, meaning the unit is on the higher end of the project.

Being on such a high floor certainly contributed to its premium price.

With a size of 1,001 square feet, the flat was sold at a price of S$1,200,888, which breaks down to about S$1,199 per square foot (psf).

Despite being located in an older estate, Toa Payoh Crest is relatively new, having just met its Minimum Occupation Period (MOP) in 2022.

The lease for the project started in 2018, so buyers still have about 93 years left on the 99-year lease, making it quite attractive for potential homeowners or investors looking for long-term stability.

This unit had a capital gain of almost 200 per cent

When Toa Payoh Crest was first launched as a Build-To-Ordter (BTO) project, prices for 4-room flats started at S$428,000 (excluding grants).

Assuming this flat was sold by its original owner, they could have made a staggering capital gain of S$772,888, which translates to a nearly 180.58 per cent increase in value.

Of course, the final gain could be slightly higher or lower depending on additional costs, but either way, the appreciation is still quite a leap.

Educational institutions close to Toa Payoh Crest

If you're considering Toa Payoh Crest as a potential new home, especially with kids in tow, you'll be pleased to know the area is well-served.

For childcare, Carpe Diem Schoolhouse Pte Ltd is located just 32m away at 131, Lorong 1 Toa Payoh.

For kindergarten-aged children, PCF Sparkletots Preschool is also within the same block, making it incredibly convenient for young families.

When it comes to primary schools, there are four schools within 1km of the property:

1. CHIJ Primary (Toa Payoh)
2. Kheng Cheng School
3. Marymount Convent School
4. SJI International School

Within a slightly larger radius (1 to 2km), you'll also find other reputable schools like:

1. Catholic High School
2. First Toa Payoh Primary School
3. Kuo Chuan Presbyterian Primary School
4. Pei Chun Public School
5. Raffles Girls' School (Secondary)
6. Beatty Secondary School

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The previous record holder for 4-room HDB resales in Toa Payoh

Before this recent S$1.201M sale, the previous record for the most expensive 4-room HDB resale in Toa Payoh was also from Toa Payoh Crest, specifically Block 131B.

That unit sold for S$1.2M, translating to S$1,198 psf.

So far, these are the only two 4-room transactions in Toa Payoh that have surpassed the S$1.2M threshold.

Looking at the broader resale market in Toa Payoh, there have been 60 transactions exceeding the S$1M mark.

Of these, 28 sales came from Toa Payoh Crest, followed by 16 transactions from Toa Payoh Apex and 11 sales from The Peak @ Toa Payoh.

Other notable projects in this list include Alkaff Vista, Toa Payoh Towers, and Central Horizon.

The overall most expensive HDB resale in Toa Payoh to date is a 5-room DBSS unit from The Peak @ Toa Payoh.

In January this year, a unit in Block 139A, somewhere between the 40th to 42nd floor, sold for S$1.568M.

With a size of 1,259 square feet, this sale translates to an impressive S$1,246 psf.

This isn't the only transaction to break the S$1.5M mark in Toa Payoh.

In total, there are four sales past this threshold, all of them from The Peak @ Toa Payoh. Here are the top four sales, listed by price:

Date	Block	Floor	Size (sqft)	Price	Price (psf)
01/2024	139A	40-42	1,259	S$1.569M	S$1,246
01/2024	138C	31-33	1,259	S$1.54M	S$1,223
06/2024	139A	31-33	1,259	S$1.54M	S$1,223
06/2024	138C	34-36	1,227	S$1.504M	S$1,225

Top 10 most expensive 4-room HDB resale transactions in Singapore

While the S$1.201M sale from Toa Payoh Crest is certainly impressive, there have been other 4-room flats in Singapore that have sold at similarly high prices.

Excluding sales from Pinnacle @ Duxton and the S$1.5M Moh Guan Terrace adjoined flat sale, here are the top 10 most expensive 4-room transactions in the country:

Project	Block	Floor	Size (sqft)	Price	Lease commence
SkyTerrace @ Dawson	90	34-36	1,023	S$1,380,000	2016
Kallang Trivista	8B	28-30	1,055	S$1,300,888	2017
SkyTerrace @ Dawson	90	40-42	1,045	S$1,300,000	2016
Saint George’s Tower	26B	31-33	998	S$1,250,000	2020
SkyTerrace @ Dawson	90	19-21	1,184	S$1,238,000	2016
SkyTerrace @ Dawson	91	22-24	1,184	S$1,235,500	2016
Ghim Moh Edge	32	37-39	1,001	S$1,211,000	2018
Tiong Bahru View	10B	28-30	939	S$1,210,000	2016
Toa Payoh Crest	130A	37-39	1,001	S$1,200,888	2018
City Vue @ Henderson	95C	43-45	1,001	S$1,200,000	2019

Among these top sales, SkyTerrace @ Dawson stands out with four transactions making the list.

Saint George's Tower is another notable project with its young lease and potential for more high-value sales in the future.

That said, not all units in these developments command million-dollar prices.

For instance, City Vue @ Henderson has flats available for as low as S$530,000, while Saint George's Tower still has listings below S$800,000.

The record-breaking sales represent only a small portion of the overall resale market, driven by factors like location, unit size, and floor height.

ALSO READ: Recently MOP-ed 3-room flat in Bukit Merah sells for nearly $900k

This article was first published in 99.co.