{"id":74615,"date":"2024-05-09T19:23:27","date_gmt":"2024-05-09T11:23:27","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=74615"},"modified":"2024-05-10T11:47:24","modified_gmt":"2024-05-10T03:47:24","slug":"s2m-hdb-listing-the-peaktoa-payoh","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/s2m-hdb-listing-the-peaktoa-payoh\/","title":{"rendered":"The S$2M HDB listing in The Peak@Toa Payoh \u2013 ambitious or inevitable?"},"content":{"rendered":"
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In Singapore’s bustling property market, <\/span>million-dollar HDB listings have become increasingly common<\/span><\/a>, with estates across the city-state witnessing these transactions. Even neighbourhoods that have traditionally resisted such high price tags <\/span>have seen themselves succumb to this trend<\/span><\/a>. <\/span><\/p>\n\n\n\n

Amidst this backdrop, recent attention has turned to a significant listing at <\/span>The Peak@Toa Payoh<\/span><\/a>, with a staggering price tag of S$2M. With the<\/span> current nationwide resale record hovering around 1.59M<\/span><\/a>, the question arises: Is this S$2M listing too ambitious, or is it merely a matter of time before it becomes a reality?<\/span><\/p>\n\n\n\n

This isn\u2019t the first time The Peak@Toa Payoh has made headlines<\/b><\/h2>\n\n\n\n

The Peak@Toa Payoh stands out as one of the more well-known HDB flats in Singapore, with <\/span>DBSS units<\/span><\/a> and a prime location with proximity to three MRT stations. As one of only thirteen projects in Singapore offering DBSS units, a type of flat no longer constructed by HDB, its allure is undeniable. <\/span><\/p>\n\n\n\n

Moreover, units on the higher floors present panoramic views of the skyline, making them highly desirable among buyers seeking a blend of amenities, spaciousness, and scenic vistas. <\/span><\/p>\n\n\n\n

Following its <\/span>Minimum Occupation Period (MOP) <\/span><\/a>in 2017, The Peak@Toa Payoh has consistently made headlines for setting new records and achieving million-dollar sales. Over the past year, several noteworthy transactions have garnered attention: <\/span><\/p>\n\n\n\n

In July 2023, <\/span>a 5-room unit at The Peak@Toa Payoh fetched S$1.42M, setting a new benchmark as the most expensive 5-room HDB resale flat in Singapore’s history<\/span><\/a>. Subsequently, in November 2023, <\/span>another unit shattered records by selling for S$1,568,888, marking it as the priciest resale flat not just in Toa Payoh but across the entire country<\/span><\/a>.<\/span><\/p>\n

Check your affordability with 99.co\u2019s affordability calculator<\/a>!<\/strong><\/p><\/p>\n\n\n\n

With prices on a steady ascent, should we be surprised that a seller at The Peak@Toa Payoh listed their DBSS unit for a staggering S$2M? <\/a><\/span>This move sparked speculation and debate, especially in a market still adjusting to the notion of million-dollar price tags.<\/p>\n\n\n\n

However, despite recent reports of <\/span>an investigation into the S$2M listing<\/span><\/a>, initiated due to suspicions of it being put up without the<\/span> intention to sell<\/span><\/a> being communicated to HDB, the lingering question remains: Can The Peak@Toa Payoh actually fetch a jaw-dropping 2 million dollars in a sale?<\/span><\/p>\n

Looking for a property close to an MRT station of your choice?<\/strong><\/em> Check out 99.co\u2019s MRT map<\/a> here.<\/em><\/p><\/p>\n\n\n\n

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Is a S$2 million price tag too much, too soon?<\/b><\/h2>\n\n\n\n

Let’s crunch some numbers to get a clearer picture.<\/span><\/p>\n\n\n\n

Looking at recent transactions, The Peak@Toa Payoh has indeed seen its fair share of high-value deals. <\/span><\/p>\n\n\n\n

Two transactions in January of this year breached the S$1.5M mark, both involving DBSS units. There have been four transactions at the S$1.4M price point and a total of twelve transactions at S$1.3M. Seventeen other sales fall within the 1.2M category, with sixty-five others within S$1M.These figures underscore the increasing propensity for million-dollar sales in The Peak@Toa Payoh, with a total of 100 such transactions recorded.<\/span><\/p>\n\n\n\n

Here is a list of the most expensive transactions <\/span>at The Peak@Toa Payoh, up to the S$1.3M mark:<\/span><\/p>\n\n\n\n

Date<\/b><\/td>Block<\/b><\/td>Unit<\/b><\/td>Price<\/b><\/td>Price (psf)<\/b><\/td><\/tr>
01\/2024<\/span><\/td>139A<\/span><\/td>Floor 40-42<\/span><\/td>S$1.569 M<\/span><\/td>S$1,246<\/span><\/td><\/tr>
01\/2024<\/span><\/td>138C<\/span><\/td>Floor 31-33<\/span><\/td>S$1.54 M<\/span><\/td>S$1,223<\/span><\/td><\/tr>
08\/2023<\/span><\/td>139B<\/span><\/td>Floor 40-42<\/span><\/td>S$1.46 M<\/span><\/td>S$1,189<\/span><\/td><\/tr>
04\/2024<\/span><\/td>139B<\/span><\/td>Floor 22-24<\/span><\/td>S$1.438 M<\/span><\/td>S$1,142<\/span><\/td><\/tr>
06\/2023<\/span><\/td>139B<\/span><\/td>Floor 40-42<\/span><\/td>S$1.42 M<\/span><\/td>S$1,127<\/span><\/td><\/tr>
04\/2024<\/span><\/td>139A<\/span><\/td>Floor 25-27<\/span><\/td>S$1.4 M<\/span><\/td>S$1,111<\/span><\/td><\/tr>
04\/2023<\/span><\/td>138A<\/span><\/td>Floor 40-42<\/span><\/td>S$1.385 M<\/span><\/td>S$1,128.77<\/span><\/td><\/tr>
07\/2023<\/span><\/td>138C<\/span><\/td>Floor 34-36<\/span><\/td>S$1.38 M<\/span><\/td>S$1,124<\/span><\/td><\/tr>
10\/2022<\/span><\/td>138A<\/span><\/td>Floor 40-42<\/span><\/td>S$1.38 M<\/span><\/td>S$1,124<\/span><\/td><\/tr>
09\/2023<\/span><\/td>138C<\/span><\/td>Floor 25-27<\/span><\/td>S$1.379 M<\/span><\/td>S$1,123<\/span><\/td><\/tr>
05\/2023<\/span><\/td>138A<\/span><\/td>Floor 34-36<\/span><\/td>S$1.37 M<\/span><\/td>S$1,116<\/span><\/td><\/tr>
08\/2022<\/span><\/td>138A<\/span><\/td>Floor 40-42<\/span><\/td>S$1.35 M<\/span><\/td>S$1,072<\/span><\/td><\/tr>
11\/2022<\/span><\/td>138C<\/span><\/td>Floor 37-39<\/span><\/td>S$1.345 M<\/span><\/td>S$1,096<\/span><\/td><\/tr>
01\/2023<\/span><\/td>138B<\/span><\/td>Floor 37-39<\/span><\/td>S$1.335 M<\/span><\/td>S$1,060<\/span><\/td><\/tr>
10\/2023<\/span><\/td>139A<\/span><\/td>Floor 28-30<\/span><\/td>S$1.33 M<\/span><\/td>S$1,056<\/span><\/td><\/tr>
04\/2023<\/span><\/td>138A<\/span><\/td>Floor 25-27<\/span><\/td>S$1.33 M<\/span><\/td>S$1,056<\/span><\/td><\/tr>
07\/2023<\/span><\/td>138C<\/span><\/td>Floor 37-39<\/span><\/td>S$1.328 M<\/span><\/td>S$1,054<\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\"S$2M<\/a><\/figure>\n\n\n\n

Since 2017, there’s been a steady climb in the average psf, reaching an 8.14% increase from 2023 to 2024, hitting S$1,069 psf. This upward trend shows how property values in the project have been going up, driven by factors like demand and limited new resale flat availability in Toa Payoh.<\/p>\n\n\n\n

Yet, despite these positive signs, the leap from 1.59M to 2M raises some questions. With HDB flats just recently hitting the 1.59M mark and the highest sale at The Peak@Toa Payoh being S$1.57M, jumping straight to S$2M seems a bit early, at least for now.<\/p>\n\n\n\n

Consider the timeline: the S$1.57M sale occurred back in November, while the current island-wide record of S$1.59M was set in April this year. That leaves us with about 5 months for a S$20,000 increase. Buyers these days are quite careful in making their decisions, so a sudden jump like this might make them think twice \u2013 especially when there are other options like new launch condos<\/a> with competitive prices available.<\/span><\/p>\n

Interested in upcoming new launches for the year?<\/em><\/strong> Take a look at your options here: 8 new launches expected in Q2 of 2024<\/a><\/p><\/p>\n\n\n\n

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But in Singapore’s dynamic property market, where surprises are the norm, one can never say never. <\/span><\/p>\n\n\n\n

So, if<\/em> a S$2M sale were to happen, when might we expect it? <\/span>Considering the ongoing trends, like the significant rise in property values and the growing number of million-dollar sales, we might see a S$2M transaction in the next few years, maybe by 2025 or 2026.<\/p>\n\n\n\n

However, it’s essential to remember that market conditions can change. Economic shifts, policy adjustments, and global events can all affect property prices, making predictions uncertain. So, while a S$2M sale at The Peak@Toa Payoh could<\/em> be possible, it’s wise to approach such forecasts carefully, knowing that the real estate world can be quite unpredictable.<\/p>\n

Looking for HDB flats that will MOP this year?<\/strong><\/em> Check out our article here: Full list of BTO projects hitting MOP in 2024\/2025 & Our top picks near the MRT<\/a><\/p><\/p>\n\n\n\n

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