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).
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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.
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This unit had a capital gain of almost 200%
When Toa Payoh Crest was first launched as a Build-To-Order (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% 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.
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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:
- CHIJ Primary (Toa Payoh)
- Kheng Cheng School
- Marymount Convent School
- SJI International School
Within a slightly larger radius (1 to 2km), you’ll also find other reputable schools like:
- Catholic High School
- First Toa Payoh Primary School
- Kuo Chuan Presbyterian Primary School
- Pei Chun Public School
- Raffles Girls’ School (Secondary)
- Beatty Secondary School
For a deeper dive into the Toa Payoh Crest location and its surrounding amenities, you can check out our previous article: “S$1.101M Toa Payoh HDB is the most expensive 4-room resale flat in town (for now).”
Looking for a property close to an MRT station of your choice? Check out 99.co’s MRT map here.
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 |
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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.
Looking for more HDB flats that MOP-ed recently besides Saint George’s Tower? Check out our article here: Full list of BTO projects hitting MOP in 2024/2025 & Our top picks near the MRT
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.
Interested in upcoming new launches for the year? Take a look at your options here: Upcoming new launches: New Launch condos in H2 2024
Planning to buy a 4-room HDB resale? Share your preferred projects in the comments section below or on our Facebook page.
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
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