Bidadari flat sells for S$1,258,888 after MOP, most expensive 4-room resale in Toa Payoh

A 4-room HDB flat at Alkaff Lakeview has sold for S$1,258,888.

This makes it the most expensive 4-room resale in Toa Payoh, 99.co reported.

The flat reached its Minimum Occupation Period (MOP) in 2024, and has about 94 years and ten months left on its lease, according to the HDB website.

The flat, with a size of 1,044 sq ft, is located at Block 118A, Alkaff Crescent Road.

It is situated between the 10th and 12th floors of the 17-storey block.

Windfall

According to 99.co's estimates, during the November 2015 launch of the Alkaff Lakeview Build-to-Order units, the 4-room units were priced between S$433,000 and S$550,000.

The unit in question was sold mid-project, which means that it could have been sold for about S$491,500, 99.co suggested.

This would mean the flat, at the time of its resale, could have netted a profit of around S$767,388. 

This excludes grants for first-time buyers, or schemes like the Proximity House Grant, which could have helped the buyers secure the flat at an even lower price.

There is also the possibility that the buyer paid a substantial cash over valuation (COV) for the property, which could have eaten into profits earned from the sale.

S$1 million dollar flats

The latest sale follows a slew of HDB resale transactions in the Bidadari estate last year exceeding the S$1 million mark.

Minister for National Development Desmond Lee said, back in August 2024, that HDB flats with very high resale prices make up a "very small proportion of all transactions, but they capture public attention."

"In the last 1.5 years, flats that cross the million-dollar mark make up about 2% of all resale transactions," he added.

Lee said in March this year that more HDB flats will complete their MOP in 2026 compared to 2025, which would increase the supply of resale flats and help stabilise prices.