SINGAPORE (EDGEPROP) - A 5-room DBSS flat at Block 138A Lorong 1A Toa Payoh measuring 1,227 sq ft, was transacted for $1,238,000 ($1,009 psf) last week, the highest recorded transaction for public housing in Toa Payoh. This transaction also broke the psychological $1,000 psf mark for a HDB unit for the very first time in this town.
The high-floor unit located between 40th and 42th storey is part of The Peak @ Toa Payoh, a DBSS (Design, Build and Sell Scheme) development launched in 2009 and was completed in 2012.
The previous recorded high for this development was for a 1,259 sq ft unit that changed hands in June 2021 for $1,160,000 ($921 psf). The unit is located between 37th and 39th storey at Block 139A.
5-room units at The Peak @ Toa Payoh can command a rental rate between $3,000 - $3,400 per month, based on recent transactions. This translates to a gross rental yield of approximately 3.3%.
The DBSS was first introduced by then Minister for National Development Mah Bow Tan in 2005 to involve private developers in the building of public housing and to offer buyers with a wider variety of housing.
Because of their better design and finishes, DBSS projects usually command a higher premium than built-to-order and resale HDB flats. The sale of DBSS sites was discontinued in 2011, following a public outcry over the hefty price tags.
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Click here to look at past transactions for The Peak @ Toa Payoh (Block 138A, Block 138B, Block 138C, Block 139A, Block 139B)