A 3 year old five-room resale flat in Toa Payoh was sold for a record high S$894,000 last month, according to the latest data released by HDB:
[Source: HDB Infoweb]
The flat lies between the 36th and 40th floor of Blk 79C which is located opposite Toa Payoh Central and within walking distance to both Toa Payoh and Braddell MRT stations.
The same unit would have fetched around $400,000 when it was first launched for sale in 2007, meaning that prices have more than doubled in 5 years.
Despite a slew of ‘cooling measures’ introduced by the government of late to cool the property market, the prices of HDB resale flats continue to increase even as prices of private properties are beginning to show signs of moderating.
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