{"id":45197,"date":"2021-11-10T16:02:40","date_gmt":"2021-11-10T08:02:40","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=45197"},"modified":"2022-06-13T17:30:10","modified_gmt":"2022-06-13T09:30:10","slug":"million-dollar-flat-hotspots-bishan-vs-toa-payoh","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/million-dollar-flat-hotspots-bishan-vs-toa-payoh\/","title":{"rendered":"Million-dollar flat hotspots: Bishan vs Toa Payoh\u00a0"},"content":{"rendered":"
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Last week, a resale flat in Bishan\u2019s Natura Loft<\/a> DBSS project made headlines for transacting a whopping S$1.36 million<\/a>. It broke the record set by another flat<\/a> in the same project around three months ago, when it was sold for S$1.295 million.<\/p>\n

But Bishan isn\u2019t the only estate that\u2019s broken its own record. A nearby estate, Toa Payoh, has done it too.<\/p>\n

Most expensive resale flat in Toa Payoh sold for S$1.24m<\/b><\/h2>\n

A 5-room resale flat in The Peak @ Toa Payoh<\/a> was just sold for S$1.24 million, breaking the previous record of S$1.238 million for a flat of the same type in the estate back in August. It\u2019s also from the same project.<\/p>\n

This is despite the record-breaking flat being located on a lower floor, between level 38 and 40, compared to the previous record holder that’s situated on the top floor (42th storey).<\/p>\n

\"View<\/a>
The view from the S$1.24 million unit at The Peak @ Toa Payoh flat. Source: Jeremy Tan<\/figcaption><\/figure>\n

Still, it\u2019s a DBSS flat, and one that\u2019s located on a high floor. Jeremy Tan, the agent who brokered the deal, shares with us that he received several enquiries after he started advertising it, eventually closing the deal the day after.<\/p>\n

\u201cI shared details like the video and floorplan. And I was ready to conduct an onsite video or Zoom presentation on the first weekend to accommodate multiple groups due to safe management measures and restrictions. In the end, there were two parties that were serious and showed more interest. One party came to view at night, and it was closed on the first viewing.\u201d<\/p>\n

Just like the sellers of the Bishan flat, the sellers of this Toa Payoh flat decided to put it on sale as they were planning to upgrade to a private property.<\/p>\n

\"Dragon<\/a>
Dragon playground at Toa Payoh.<\/figcaption><\/figure>\n

From location to rarity: Factors that make people want to spend S$1 million for a flat\u00a0<\/b><\/h2>\n

Jeremy, an associate group director at Propnex and founder of JeremyTan.Co, shares four factors that mainly drive people to pay such a high price for public housing: location, proximity to schools, size and rarity.<\/p>\n

Other than Bishan<\/a> and Toa Payoh<\/a>, estates with million-dollar flats include Central Area, Bukit Merah<\/a>, Queenstown<\/a> and Kallang.<\/a><\/p>\n

When we look at these estates, they\u2019re all mature estates that are centrally located. Not only are they closer to the city centre, but they\u2019re also brimming with amenities. The older estates are also where you can find bigger and rare types of flats such as executive apartments and DBSS flats, which HDB no longer builds.<\/p>\n

\"Couple<\/a>
Bishan-Ang Mo Kio Park.<\/figcaption><\/figure>\n

\u201cIt is not possible to find a comparable condo of a similar size with three bedrooms and superb views with the same price range in the same district,\u201d adds Jeremy.<\/p>\n

As for what makes Toa Payoh so popular, Jeremy adds, \u201cToa Payoh is well known for its centralised location, close proximity to town, amenities and good schools. It\u2019s getting more popular with younger demographics over the past 10 to 15 years since the injection of newer flats like The Peak and Toa Payoh Crest.\u201d<\/p>\n

Bishan vs Toa Payoh: Comparing the million-dollar flat hotspots\u00a0<\/b><\/h2>\n

The thing is, Bishan and Toa Payoh aren\u2019t as central and close to the city centre as compared to the Central Area and Bukit Merah. Nevertheless, they have a couple of plus points that make them more desirable places to call home.<\/p>\n

Proximity to schools\u00a0<\/b><\/h3>\n

The number of schools available in Bishan and Toa Payoh is one reason why it\u2019s so popular among families with kids. And they\u2019re not just any other schools; they\u2019re the ones that families are willing to move houses for to increase admission chances. (Let\u2019s be honest, most people in Singapore don\u2019t buy the \u201cevery good school is a good school\u201d concept.)<\/p>\n

Schools in Bishan include Ai Tong School, Catholic High School, Raffles Institution, and Raffles Girls\u2019 Secondary School.<\/p>\n

In contrast, schools in Toa Payoh include CHIJ Toa Payoh, Pei Chun Public School and St Andrew\u2019s School.<\/p>\n

Given the number of big-name schools in Bishan, we\u2019d say when it comes to school proximity, Bishan has an edge over Toa Payoh (or any other estates, except Bukit Timah).<\/p>\n

(Psst…we explored the area around Bright Hill MRT, which is near Ai Tong School. Check out the video below!)<\/p>\n