Last year, we covered the most expensive HDBs sold in mid-2023. Now, with million-dollar HDB sales becoming more common, it’s plain to see that 2024 is poised to break records in resale HDB prices. Here are some of the most expensive HDBs sold in 2024 so far that made jaw-dropping headlines:
1. The Peak @ Toa Payoh 5-room DBSS—$1.56M
Image credit: JGP architecture
Image adapted from: HDB
At the very pinnacle of expensive HDBs is this 5-room DBSS flat located at The Peak@Toa Payoh. Priced at $1.56M, this purchase eclipses the unit that was previously the most expensive last year, thereby crowning it as the most expensive HDB sold in history.
DBSS flats are basically HDBs that were built by private developers, resulting in a unique build and finish unlike regular HDB flats. Typically, they end up looking more like condo units, mimicking the premium vibe that condos have as well. The DBSS scheme has since been discontinued, which might explain why these properties have become more sought after—through a combination of rarity and premium-adjacent design.
Image adapted from: HDB
Additionally, this unit is in good company, with no less than 7 sales at The Peak@Toa Payoh so far that have surpassed a million dollars in price.
2. Pinnacle @ Duxton 5-room—$1.51M
Image credit: @gaodishoots
In May, a 5-room flat was sold at $1.51M. From the variety of custom unit layouts available to its massive sky garden, there are a myriad of reasons why properties at Pinnacle@Duxton are sought after.
Image adapted from: HDB
The project is known for its panoramic views, with non-residents even having the option of paying $6 for entry to its skybridge. It even got a co-sign from then-prime minister Lee Hsien Loong, as the National Day message in 2010 was filmed at its top-floor viewing gallery.
Image adapted from: Prime Minister’s Office, Singapore
3. Natura Loft 5-room DBSS – $1.5M
Image credit: ST file
Another project that consistently produces million-dollar HDBs is the Natura Loft at Bishan. The most expensive unit sold so far at this estate was a 5-room DBSS priced at $1.5M, though another $1.45 million purchase made in January isn’t that far behind.
Image adapted from: HDB
The flats at Natura Loft have built-in fixtures similar to those you might find at a condo, like the balcony overlooking the Bishan neighbourhood. The exorbitant price of these 2 units can be attributed to their high floor thereby giving them a panoramic view.
Image credit: @sumofussg
4. Block 286 Bishan Executive Maisonette—$1.5M
Image adapted from: Google Maps
Like DBSS units, executive maisonettes are also considerably rare due to the fact that HDB has ceased production of these properties. This particular unit at Bishan block 286 was sold for $1.5M, making it the most expensive executive flat transaction in the entirety of Singapore.
Image adapted from: HDB
That’s not all: the purchase it surpassed to become the most expensive executive flat was on the same street. These flats are close to a number of amenities, being in walking distance to 2 shopping malls as well as Bishan MRT, though it is particularly close to Bishan North Shopping mall—likely the reason for its high value.
Image adapted from: Google Maps
5. Tiong Bahru View 5-room improved—$1.45M
Image credit: Albert Chua/The Edge Singapore
The next purchase on our list is a 5-room improved (5I) unit that was sold for $1.45M. At least 30 flats in Tiong Bahru View have transacted for a million dollars or more since 2018, when the MOP for the first few flats was reached. Additionally, 5I units differ from a standard 5-room due to their larger living spaces, making them feel more open.
Image adapted from: HDB
Aside from its more spacious layout, a significant factor in its price is its prime location, being a 7-minute walk away from Tiong Bahru Plaza & the MRT station.
Image adapted from: Google Maps
6. Block 2 Toh Yi drive executive maisonette—$1.41M
Image adapted from: Google Maps
Coming in last on the list is this executive maisonette sold for $1.41M at Toh Yi Drive in Bukit Timah. Toh Yi Drive is well-known for its expensive executive maisonettes, with no shortage of million-dollar sales.
Image adapted from: HDB
Aside from the rarity of executive maisonettes, the high price of the unit can also be attributed to its close proximity to Beauty World MRT.
Image adapted from: Google Maps
7. Jalan Ma’mor Whampoa terrace HDB—$1.56M
Image credit: Google maps
HDB terrace houses are one of the most sought-after public housing types of all time because they are the last of their kind. These HDB terraces have been known to fetch more than a million dollars on the resale market, even with a remaining lease of under 50 years. The latest record-breaking sale just this July, where a Whampoa HDB terrace changed hands for an exorbitant price of $1.56M, is proof that some Singaporeans still think it’s a worthy investment.
Most expensive HDBs sold in 2024
Infographic accurate as of 03 June 2024.
Nowadays, million-dollar HDBs have become somewhat of a norm. Upon closer inspection, there are some common factors that the most expensive HDBs sold in 2024 share, which might explain why people are willing to pay tremendous amounts to buy them.
As seen in the DBSS and executive maisonettes on this list, elements like rarity bump up the prestige of a unit, increasing its valuation among prospective buyers as well as property agents. In addition to that, most Singaporeans value practicality, so higher-valued properties tend to be close to MRT stations and amenities like shopping malls.
All things considered, it’s apparent that the housing market shows no signs of cooling easily any time soon—so those looking to buy a resale unit may want to keep in mind that the most attractive homes will have equally unattractive price tags.
For more housing market content:
- 10 HDBs with unique designs
- 8 most expensive estates to rent in Singapore
- 5 cheapest estates to buy a resale HDB
Cover image adapted from: Wikimedia commons, JGP architecture, CNQC
This article was originally published on 3rd June 2024, and updated on 7th August 2024.
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