$1.36m maisonette in Bukit Timah records estate's highest transaction

In December 2022, we highlighted an executive maisonette in Toh Yi Drive, making headlines as the most expensive HDB maisonette in Singapore at $1.3M.

Now, the same property is breaking records again. This time, it's not just the priciest HDB resale flat in Bukit Timah but also the most expensive executive HDB flat in the area at $1.36M.

2 Toh Yi Drive — Bukit Timah record-breaking maisonette

Diving into the specifics of this record-setting transaction, the $1.36M property at 2 Toh Yi Drive stands on floors four to six, boasting a generous size of 1,658 square feet.

The property sold for a price psf of around $820, slightly higher than the previous record's $805 psf. The lease for this record holder began in 1988, making the property 36 years old. This means it has only approximately 63 years of remaining leases left.

Toh Yi Drive consistently makes Bukit Timah's highest transaction record

Interestingly, after taking a look at 99.co's Researcher, it seems that properties on Toh Yi Drive, especially its HDB maisonettes, have been consistently securing the highest transactions in Bukit Timah.

This meant that Toh Yi Drive properties didn't just make the record as the highest sale in the estate, it was also listed as the subsequent higher transactions, all the way down to even the first million-dollar sale in the estate.

When sorting the properties sold in Bukit Timah from the highest to the lowest, Toh Yi Drive's streak persisted until the fourth page, where it was momentarily interrupted by a property on Queen's Road.

However, even with this temporary break, Toh Yi Drive swiftly reclaimed its position in the following transactions.

The following table features the highest transactions in Bukit Timah above the $1.275M mark. Notably, 2 Toh Yi Drive clinched positions in the top three transactions within the estate, all either hitting or exceeding the $1.3M price tag.

What's so special about 2 Toh Yi Drive?

In terms of accessibility and convenience, Blk 2 Toh Yi Drive offers several advantages.

The location places it within a five-minute walk to key amenities, including Beauty World MRT (four mins walk away), Bukit Timah Market and Food Centre, Carpe Diem Schoolhouse @ Toh Yi, and Pei Hwa Presbyterian Primary School.

Nearby shopping malls, such as Bukit Timah Shopping Centre, Beauty World Centre (five minutes walk away), and Beauty World Plaza, contribute to the property's convenience.

Additionally, residents have easy access to The Reserve Residences, a mixed-use development, situated approximately an eight-minute walk away. This provides opportunities to explore retail spaces and access a new bus interchange.

Supermarkets like Koryo Mart (four mins walk away), Cold Storage Link@896, and FairPrice Xpress (six mins walk away) are conveniently located for groceries and household products. The nearest clinic is also just a four-minute walk away.

Leisure and entertainment options are accessible, with the local Toh Yi Community Garden a mere three-minute walk away.

For those with private transportation, the property is strategically positioned near expressways and major roads, including the Pan Island Expressway (12 mins drive), Bukit Timah Expressway (16 mins drive), and Clementi Road (nine mins drive).

Bukit Timah HDB resale transaction trends

Taking a closer look at transaction trends, the volume of properties sold in 2014 hit the lowest at 26 transactions, with average prices around $637k ($582 psf).

Following this, 2021 saw the highest transaction volume in the last decade at 77 transactions, averaging $754k ($612 psf). The subsequent year, 2022, witnessed a drop to 57 transactions, averaging $746k with $653 psf.

In 2023, the transacted volume further decreased to 50, but average prices surged, reaching $854k with an average of $720 psf.

This means that over the five years, the average psf in Bukit Timah increased by approximately 21.21 per cent.

Record for Executives in Singapore

While 2 Toh Yi Drive set a record for Bukit Timah, the overall record for HDB Executives in Singapore is still held by a $1.45M maisonette in Bishan.

Notably, this could be due to the larger size of the Bishan property, measuring 1,851 sqft, compared to 1,658 sqft of 2 Toh Yi Drive.

ALSO READ: City Vue @ Henderson sells for $1.46m, second-highest HDB transaction in Bukit Merah

This article was first published in 99.co.