SINGAPORE: Toa Payoh Crest, a residential development nestled in the heart of Toa Payoh, has once again rewritten the record books in the realm of public housing resale prices. Within a span of just one month, the estate has witnessed a surge in property values, culminating in a four-bedroom unit fetching a remarkable $1.15 million in a recent resale transaction.
The latest milestone marks a significant increase of $49,000 from the previous record set a mere two weeks ago.
The four-bedroom unit is located in Block 131B, Toa Payoh Crest, Toa Payoh Lorong 1. Situated between the 16th and 18th floors, the unit boasts an area of 93 square meters and enjoys a remaining leasehold tenure of 93 years and 6 months. This development was completed in 2018.
Tthe allure of Toa Payoh Crest extends beyond its lavish interiors and panoramic views. Its strategic location places residents within arm’s reach of a vibrant hawker center and a plethora of urban conveniences. Furthermore, the project enjoys seamless connectivity, with two subway stations, Braddell and Caldecott, serving as gateways to the city, both within walking distance.
The recent surge in resale prices can be attributed in part to the completion of the five-year minimum occupation period (MOP) for the development. As units become eligible for resale after meeting this milestone, the market has responded with fervent enthusiasm, driving prices to unprecedented heights. The prospect of a lengthy remaining leasehold tenure further sweetens the deal, making Toa Payoh Crest an irresistible investment opportunity for discerning buyers.
As property values continue their upward trajectory, Toa Payoh Crest stands as a testament to the enduring appeal of public housing in Singapore’s ever-evolving real estate landscape. With demand showing no signs of abating, the estate remains poised to set new benchmarks in the resale market.