Jurong East for S$1 million broke records for the resale of HDB maisonettes
It’s possible that we’re still in the holiday season (wishing everyone a happy Chinese New Year), which is often a slow time for real estate deals. However, this has not prevented us from seeing HDB resale deals that have set new records.
(This is a remark from the author: it’s possible that these transactions were completed before the vacation period, but they were just recently logged in HDB’s database. Therefore, it is more probable that an early Christmas arrived for these merchants!)
Two of the recent all-time high resale transactions that were reported stood out to us in particular: a transaction for a Toh Yi Drive HDB resale flat that was recorded at S$1.3 million and a flat sale for a Jurong East HDB resale flat that was recorded at one million dollars. Both of these properties are HDB maisonettes, and they both currently hold the record for the highest price paid for a HDB resale property in their respective cities.
This HDB maisonette on Toh Yi Drive is now the most expensive HDB executive resale apartment in Singapore, surpassing the previous record holder, which we revealed at the beginning of December.
S$1.3m The Toh Yi Drive maisonette is now the HDB executive resale apartment that commands the highest price written in the Res Courses 2023.
This HDB maisonette in Bukit Timah was sold at a price per square foot of around S$805, despite having a floor space of 1,615 square feet.
It can be found between the 10th and 12th floors of Building 2 Toh Yi Drive, which is just across the street from the block that formerly held the title of the most expensive HDB executive resale apartment in Singapore.
The previous record, which was held by a HDB maisonette, was purchased for a price of S$1,290,800 and is situated at Blk 3 along the same road as the current record.
However, in terms of price per square foot, this Blk 2 apartment does not hold the record. The HDB maisonette at Blk 6 Toh Yi Drive that was sold earlier in September for S$814 psf is still the owner of that record. It has 1,572 square feet of living space.
The current record-holding maisonette also began its lease in 1988, just as the Blk 3 maisonette did. This implies that the maisonette is now 34 years old and has just around 64 years and 9 months left on its lease.
The Beauty World MRT, the Bukit Timah Market and Food Centre, and the Pei Hwa Presbyterian Primary School are all within a five-minute walk of Blk 2 Toh Yi Drive. The location is convenient. The Bukit Timah Shopping Centre, the Beauty World Centre, and the Beauty World Plaza are all located in close proximity to one another.
The Reserve Residences, an impending mixed-use complex, will be located around eight minutes away on foot. Within this development, there will be retail spaces as well as a new bus interchange for residents to use.
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