SINGAPORE, 9 November 2023 – ERA Realty Network Pte Ltd (“ERA”) is proud to announce an extraordinary feat in the property market with the successful sale of a top-floor unit at The Peak, a highly sought-after Design, Build and Sell Scheme (DBSS) development in Toa Payoh, by ERA agent Kingsley Zheng.
The sellers, a self-employed middle-aged couple, decided to take their next step on the property ladder by upgrading to a private residence. On the other side of this landmark transaction were buyers seeking to elevate their living standards, transitioning from a 4-room HDB flat to the spacious and well-appointed 5-room unit at The Peak. This sale highlights the continual upward mobility and aspirations prevalent in Singapore’s real estate landscape.
The existing highest transaction record for an HDB resale stood at $1.5 million for a 4-room HDB flat at Block 50 Moh Guan Terrace. Kingsley Zheng, leveraging his expertise and market insight, facilitated the sale of the 5-room DBSS unit at The Peak for an astounding $1,568,888, shattering the previous record and setting a new pinnacle in HDB property transactions in Singapore.
“The sale of the top-floor unit at The Peak not only reflects the changing aspirations of homeowners but also establishes a new standard in the HDB property market,” said Kingsley Zheng. “I am humbled and proud to have been a part of this historic transaction that highlights the ever-evolving real estate landscape in Singapore.”
The Peak in Toa Payoh has long been regarded as a coveted residential development, known for its modern design, prime location, and comprehensive amenities. This recent sale further reinforces its status as a highly sought-after address in Singapore’s property market.