A 5-room HDB resale flat in Toa Payoh recently changed hands for $955,000 – a figure that is comparable to the high resale flat prices at The Pinnacle@Duxton, reported My Paper.
The sale also stood out as it happened near the Ghost Month, which is usually a quiet period for the property market.
Measuring 124 sqm, the 14-year-old flat is located at Block 154 in Toa Payoh Lorong 2, between the 22nd and 24th storeys, showed HDB data.
In July 2007, a 5-room resale flat on the 28th storey of the same block was sold for $650,000, a new record for resale flat prices within the area at that time.
Eugene Lim, Key Executive Officer at ERA Realty, said the unit enjoys an excellent location.
Situated just across the road from Toa Payoh Town Centre, the flat is near the Toa Payoh MRT station, with an underpass directly linking to it, he said.
Since it is on a high floor, the unit is not blocked by any surrounding flats, offering unobstructed views, noted Lim.
“If the owner is facing the right direction, he can even see the MacRitchie Reservoir,” he added.
However, he believes the deal is unlikely to become a trend as it is more of an exception than the norm.
Image: Toa Payoh Town Centre. (Photo by Sengkang; Wikimedia Commons)
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
