SINGAPORE – A resale of a Toa Payoh executive flat by Housing and Development Board (HDB) resulted in a nearly $1 million deal in June this year.

Toa Payoh

The 23-year-old executive apartment fetched a whopping $980,000 according to the figures posted on the HDB website. This amount could easily match a 1 or 2 bedroom Singapore condo for sale.

The sold unit has a total size of 1,560.77 sq ft unit and is located between the 10th and 12th floors of Block 101B, Toa Payoh, Lorong 2.

Located behind the Braddel MRT station on the North-South line, the flat is also a five-minute drive away from Toa Payoh MRT station and the busy Toa Payoh Town Centre.

 

The recent fetch makes it the most expensive executive flat sold in the area. It is comparable with the executive flat Block 99B at Toa Payoh sold in March 2014 which also became the most expensive flat sold for that year.

Another executive flat just a few levels below of the same block got sold for $900,000 in March. According to the HDB website, four public flat deals in Toa Payoh, comprising of two executive apartments and two five-roomers have been closed for $900,000 or more.

On the other hand, only one HDB unit has been sold in 2015 that can compete with the above sale — a five-room unit opposite the Toa Payoh MRT station.

SRX Property website released data that showed that resale flat prices went down by 0.6 percent in June from May, having a total of 1,823 units sold.

Data from property website SRX Property showed that resale flat prices decreased by 0.6 percent in June from May, with a total of 1,823 units sold.

Executive unit costs, however, have increased slightly by 0.1 percent.

Read More: Singapore property market news