Bayshore: Reinventing the Experience of Living by the Beach
TLDR When deciding on buying or selling property in Bayshore, consider the recent developments and potential future growth. With a...
Read More
TLDR
Singapore’s HDB resale market has entered a new phase, with at least 13 flats sold for $1.5 million or more—most transacted between May and July 2024. These record-breaking flats are usually large (jumbo, maisonette, or 5-room DBSS), in central locations like Tiong Bahru, Bishan, Toa Payoh, and Pinnacle@Duxton, and often situated on upper floors of mega developments. Demand is driven by scarcity, size, location, and unique features. If you’re considering buying or selling, timing and personal circumstances matter; prices have surged recently but future trends will depend on market sentiment and policy changes. For strategic advice, an objective, data-driven approach is essential to navigate Singapore’s dynamic property market.
We are now in the age of $1.5 million HDB flats.
Singaporeans no longer react to HDB flats priced over $1 million; now, only those above $1.5 million catch our eye.
The first $1.5 million HDB flat was sold in Tiong Bahru in May 2023 – a 4-room jumbo flat at 50 Moh Guan Terrace in Bukit Merah. Since then, many HDB flats have sold for $1.5 million or more.
Currently, the most expensive HDB flats in Singapore are two 5-room units in Tiong Bahru, each selling for $1.588 million in the resale market.
We Are Now In The Era Of $1.5 Million HDB Flats
We are closely monitoring HDB flats that sell for $1.5 million and above. Currently, we have identified around 13 HDB resale flats that have sold for this price.
We will examine each of these flats to understand why they are considered the “most expensive public housing flats” in Singapore.
#1 Tiong Bahru: 4-Room Jumbo Flat For $1.5 Million
The first HDB flat to reach $1.5 million was a 4-room Jumbo flat in Bukit Merah sold in 2013. This resale flat is still the only Jumbo flat, and also the largest and oldest (completed in 1973) HDB flat to sell for $1.5 million or more. The 4-storey block is within walking distance of Tiong Bahru MRT station, schools, and supermarkets.
Project Details:
– Date: June 2023
– Sale Price: $1.5 million
– Flat Type: 4-Room (Jumbo Flat)
– Area: 176 sqm
– Remaining Lease: 49 years (Lease commenced in 1973)
#2 The Peak @ Toa Payoh: 5-Room DBSS Flat For $1.569 Million
Built in 2012, The Peak @ Toa Payoh is a DBSS that became the first HDB flat to sell for over $1.5 million in 2024, following a six-month period without any such sales.
Out of the 13 HDB flats sold for more than $1.5 million, four are units at The Peak @ Toa Payoh.
The 40-42 storey development is within walking distance of three MRT stations: Braddell MRT, Toa Payoh MRT, and Caldecott MRT.
Project Details:
– Date: January 2024
– Sale Price: $1.569 million
– Flat Type: 5-Room (DBSS)
– Area: 117 sqm
– Remaining Lease: 87 years (Lease commenced in 2012)
#3 The Peak @ Toa Payoh: 5-Room DBSS Flat For $1.54 Million
In January 2024, the second of four units at The Peak @ Toa Payoh sold for over $1.5 million. This unit was slightly cheaper than the first one and was on a lower floor, which aligns with the usual belief that higher-level units tend to be more expensive.
Project Details:
– Date: January 2024
– Sale Price: $1.54 million
– Flat Type: 5-Room (DBSS)
– Area: 117
– Remaining Lease: 87 years (Lease commenced in 2012)
#4 Pinnacle@Duxton: 5-Room Flat For $1.515 Million
One of the most famous HDB developments is on the list of the priciest public housing flats in Singapore.
Situated in the CBD at Tanjong Pagar, Pinnacle@Duxton features 7 blocks, each 50 storeys tall. Notably, the blocks are linked by skybridges on the 26th and 50th storeys.
Project Details:
– Date: May 2024
– Sale Price: $1.515 million
– Flat Type: 5-Room
– Area: 106 sqm
– Remaining Lease: 86 years (Lease commenced in 2011)
#5 Natura Loft (Bishan): 5-Room DBSS Flat For $1.5 Million
Completed in 2011, Natura Loft is a DBSS project with three units among the 13 HDB flats in Singapore that have sold for over $1.5 million.
It’s not surprising that an HDB flat in Bishan sold for more than $1.5 million in May 2024, as Bishan has many desirable condominium projects and an area of landed properties.
Natura Loft is centrally located in Bishan, within walking distance of Bishan MRT and 1km from the popular Catholic High School.
Project Details:
– Date: May 2024
– Sale Price: $1.5 million
– Flat Type: 5-Room
– Area: 120 sqm
– Remaining Lease: 86 years (Lease commenced in 2011)
#6 Bishan: Executive Maisonette For $1.5 Million
This Executive Maisonette in Bishan, leased since 1992, is the second oldest HDB flat sold for over $1.5 million.
A unique feature of this unit is that it is the only Maisonette on the list and slightly smaller than the Jumbo flat mentioned earlier. It is located directly across from the Natura Loft DBSS project, which has four units on this list.
As a result, four out of the 13 units sold for over $1.5 million are in Bishan.
Project Details:
– Date: May 2024
– Sale Price: $1.5 million
– Flat Type: Executive Maisonette
– Area: 172 sqm
– Remaining Lease: 67 years (Lease commenced in 1992)
#7 Tiong Bahru: 5-Room Flat For $1.588 Million
The most expensive HDB flat sold in Singapore so far is a 5-Room flat in Tiong Bahru, which sold for $1.588 million in June 2024.
This flat is part of a 48-floor building and offers many amenities, including easy access to Redhill and Tiong Bahru MRT stations, nearby schools, and trendy cafes and restaurants.
Project Details:
– Date: June 2024
– Sale Price: $1.588 million
– Flat Type: 5-Room
– Area: 113
– Remaining Lease: 94 years (Lease commenced in 2019)
#8 Tiong Bahru: 5-Room Flat For $1.588 Million
Another 5-Room unit in Tiong Bahru, sold for $1.588 million in June 2024, shares the title of the most expensive. Located nearby, this development has many appealing features that justify the high price.
Project Details:
– Date: June 2024
– Sale Price: $1.588 million
– Flat Type: 5-Room
– Area: 112
– Remaining Lease: 91 years (Lease commenced in 2012)
#9 The Peak @ Toa Payoh: 5-Room DBSS Flat For $1.54 Million
The third unit at The Peak @ Toa Payoh sold for over $1.5 million in June 2024. Although it was sold almost six months after the previous unit in the same DBSS development, it fetched the same price. This is notable since both units were the same size and on the same floors.
Project Details:
– Date: June 2024
– Sale Price: $1.54 million
– Flat Type: 5-Room (DBSS)
– Area: 117
– Remaining Lease: 87 years (Lease commenced in 2012)
#10 Natura Loft (Bishan): 5-Room DBSS Flat For $1.538 Million
Natura Loft is a new development for HDB units priced at $1.5 million or more, and it’s the second of three units. Bishan is known for its expensive HDB flats, including another Maisonette across the street from Natura Loft, also selling for $1.5 million or more.
Project Details:
– Date: June 2024
– Sale Price: $1.538 million
– Flat Type: 5-Room
– Area: 120 sqm
– Remaining Lease: 86 years (Lease commenced in 2011)
#11 Tiong Bahru: 5-Room Flat For $1.5 Million
The oldest and youngest HDB flats sold for $1.5 million or more are both in Tiong Bahru. This 5-Room unit is the same size and from the same development as the one mentioned in #7.
Project Details:
– Date: June 2024
– Sale Price: $1.5 million
– Flat Type: 5-Room
– Area: 113
– Remaining Lease: 94 years (Lease commenced in 2019)
#12 The Peak @ Toa Payoh: 5-Room DBSS Flat For $1.504 Million
In June 2024, the third and fourth units at The Peak @ Toa Payoh sold for over $1.5 million, but this unit was a bit cheaper.
Looking at the details, this 5-Room unit was slightly smaller than the earlier three sold in the development. It was just 3 sqm smaller and on a similar floor to the third unit (#9), yet it was nearly $35,000 cheaper. This shows the extra value placed on an ideal HDB flat, which is why they fetch the highest prices.
Project Details:
– Date: June 2024
– Sale Price: $1.504 million
– Flat Type: 5-Room
– Area: 114
– Remaining Lease: 87 years (Lease commenced in 2012)
#13 Natura Loft (Bishan): 5-Room DBSS Flat For $1.568 Million
The latest unit sold for over $1.5 million was from Natura Loft in July 2024. This indicates two things: 1) more HDB units from Natura Loft and other developments may continue to sell at high prices in Singapore; and 2) we can expect more HDB flats to sell for over $1.5 million, as 10 of the 13 units that have reached this price were sold between May and July 2024.
Project Details:
– Date: July 2024
– Sale Price: $1.568 million
– Flat Type: 5-Room
– Area: 120 sqm
– Remaining Lease: 86 years (Lease commenced in 2011)
$1.5 Million HDB Flats Are Usually In Mega Developments, Centrally-Located And Larger-Than-Most
Many HDB flats sold for $1.5 million or more are part of large developments, often tall buildings with the priciest units on the upper floors offering great views.
These flats are usually centrally located, with several in The Peak @ Toa Payoh, Tiong Bahru, Natura Loft in Bishan, and Pinnacle@Duxton in Tanjong Pagar.
Additionally, these flats are typically larger and rare. Apart from the Jumbo flat in Tiong Bahru and the maisonette in Bishan, seven others are DBSS units, and the Pinnacle@Duxton is a special development.
Notably, 10 of the 13 $1.5 million HDB flats were sold in just three months, from May to June 2024, indicating a rise in HDB prices, particularly in certain developments.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
What Is The Best Location To Purchase A House To Ensure Your Child Has The Highest Probability Of Attending A Well-Renowned Primary School?
TLDR Parents often seek homes within 1km of desired primary schools to increase enrollment chances. Consider oversubscription rates and population...
Read More
Invest During the Bearish & Exit During the Bullish
TLDR A comprehensive overview of the real estate market trends, emphasizing the importance of strategic property analysis and investment decisions....
Read More
Avoid These 6 Terrible Property “Tips” in Singapore
TLDR When it comes to property advice, it's crucial to be cautious of common misconceptions. For instance, schemes like the...
Read More
A Potential Game-Changer: Singapore’s Proposed Minimum Transaction Rule for Property Agents in 2025
TLDR In Singapore’s real estate market, experience alone no longer guarantees an agent’s competence. Many agents maintain licenses without significant...
Read More
5 Untold Risks Of Buying An Old Freehold Condo In Singapore
TLDR Old freehold condos in Singapore may seem attractive due to lower prices, but they come with hidden pitfalls. Longstanding...
Read More
Discover the Benefits of a SORA Home Loan in 2023: Why Consider SORA Interest Rates
TLDR The article discusses the transition from SIBOR and SOR to SORA as the new benchmark rate in Singapore's banking...
Read More
Top 5 Scenic Drives in Singapore
Singapore, a small yet bustling city-state, is well-known for its impressive skyline, diverse culture, and delicious food. However, not many...
Read More
6 Indicators and Measures to Determine if Your Home Has Unrecognized Profits
TLDR The booming real estate market presents opportunities for homeowners to profit from selling their properties. Two key signs that...
Read More
How Budget 2024 Impacts Singapore Homeowners: Exciting Property Tax Updates and ABSD Benefits
TLDR The 2024 Budget introduces changes to property tax bands, aiming to ensure fair taxation based on Annual Value (AV)...
Read More
Singapore Private Residential Market Outlook 2023
TLDR The Singapore residential property market has shown resilience in 2022, with price growth in both private housing and HDB...
Read More
The Illusion of Waiting: Why Cooling Measures Might Not Guarantee Cheaper Properties in Singapore
TLDR Cooling measures in Singapore’s property market don’t guarantee cheaper homes. While they aim to slow price growth, history shows...
Read More
Top 5 Tea Rooms in Singapore for High Tea
Singapore, a melting pot of diverse cultures and culinary delights, offers an exquisite high tea experience that caters to both...
Read More
Top 5 Reasons to Invest in Commercial Property in Singapore – Expert Insights!
Singapore, a thriving business hub in Southeast Asia, offers a robust real estate market with diverse investment opportunities. While residential...
Read More
What Has Been The Most Significant Development In The Real Estate Market In 2022
TLDR In 2022, the real estate market saw significant interest rate hikes affecting home loan rates. Despite concerns, the market...
Read More
Common Misconceptions About Buying Property in Singapore’s Core Central Region (CCR) in 2025
TLDR Singapore’s Core Central Region (CCR) is often seen as a safe, luxurious, and exclusive property segment. However, this view...
Read More
Why There’s No Perfect Time to Enter the Market
TLDR When it comes to property transactions, understanding the factors influencing rising prices is crucial. The pandemic has driven up...
Read More
5 Cons Of Buying A Resale Property
Luxury properties in Districts 9 and 10 of Singapore are highly coveted, and for good reason. From stunning views and...
Read More
Ouch! Our $1.8 Million Condo Investment Blunder: Unpacking 5 Crucial Takeaways from Our Bad Experience
TLDR The blog post delves into the complexities of real estate investments using Bob's experiences as examples. It highlights the...
Read More
Top 5 : Best Laser Tag Arenas in Singapore
Laser tag has become an increasingly popular activity in Singapore, offering adrenaline-pumping experiences for people of all ages. This exciting...
Read More
