Bukit Timah HDB maisonette sets new town resale record at $1.5m

Bukit Timah has recorded yet another milestone in Singapore's HDB resale market.

On June 23, an executive flat in Bukit Timah changed hands for $1,508,888, setting a new all-time high for HDB resale prices across all flat types in the town. 

The transaction also marks the second HDB unit in Bukit Timah to cross the $1.5 million threshold.

The $1.5m sale that set a new benchmark for Bukit Timah

The record-setting transaction involved an executive flat at Block 3 Toh Yi Drive within Toh Yi Gardens.

Situated between the 10th and 12th floors, the home spans an impressive 1,615 sqft across two levels. 

This maisonette layout is one of the defining characteristics of executive maisonettes, a flat type that is no longer being built by HDB today. 

Based on its selling price and floor area, the transaction translates to approximately $934 per square foot.

While the unit is not located on one of the higher floors that are often associated with record-breaking transactions, it overlooks the primary school beside the development. 

This gives residents relatively open and unblocked views, which likely added to the property's appeal and premium price tag.

The flat's lease commenced in 1988, which means it still has around 61 years and three months remaining. 

Given that lease decay is increasingly becoming a consideration for many buyers, the willingness to pay more than $1.5 million for a unit with slightly over six decades left on its lease is likely to raise some eyebrows.

This sale is also Bukit Timah's first all-time high HDB record of 2026. The previous record was achieved in May 2025 when another unit from the same project sold for S$1.502 million.

In fact, Toh Yi Gardens has repeatedly rewritten Bukit Timah's price records over the years. 

According to data from 99.co's Researcher, there have been 15 occasions where units within Toh Yi Gardens either established or surpassed the town's price benchmark, including this latest S$1,508,888 transaction.

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What makes Toh Yi Gardens so desirable?

Besides its spacious layouts and maisonette design, Toh Yi Gardens also enjoys several locational advantages that continue to attract buyers.

Located within District 21, the estate sits just around a five-minute walk from Beauty World MRT station on the Downtown Line. Connectivity is expected to improve even further in the coming years. 

Just one stop away, King Albert Park MRT station will become an interchange station on the upcoming Cross Island Line (CRL), providing residents with even greater accessibility to different parts of Singapore.

Daily conveniences are also within easy reach. Residents can visit Bukit Timah Food Centre and the eateries along Cheong Chin Nam Road for a wide range of local food options. 

At the same time, nearby malls such as Beauty World Centre, Beauty World Plaza and Bukit Timah Plaza cater to everyday shopping and lifestyle needs.

For those who enjoy outdoor activities, The Rail Corridor is only a short cycling distance away, offering recreational spaces and greenery that are increasingly valued by urban dwellers.

Perhaps most importantly, the estate is particularly attractive to families with school-going children. 

As mentioned earlier, Pei Hwa Presbyterian Primary School sits directly beside the development. 

Meanwhile, Methodist Girls' School and Bukit Timah Primary School are both located within a 1km radius.

For older students, tertiary institutions including Ngee Ann Polytechnic, the Singapore University of Social Sciences (SUSS) and the Singapore Institute of Management (SIM) are only around a five-minute drive away.

Taken together, Toh Yi Gardens offers a combination of accessibility, amenities and educational options that is difficult to replicate.

How does it compare with Singapore's executive flat record?

Although Bukit Timah's latest sale is impressive, it still falls short of Singapore's overall executive flat record. 

That title currently belongs to an executive maisonette at Block 135 Bishan Street 12 within Bishan Green.

The unit was sold in November 2025 for $1.6 million, making it the most expensive executive maisonette ever transacted in Singapore. 

Located opposite the Braddell Flyover, the home occupies the 22nd to 24th floors and spans 1,755 sqft across two levels. 

Similar to the Bukit Timah unit, it belongs to a generation of maisonettes that are no longer part of HDB's current housing supply.

At 1,755 sqft, the home is among the largest HDB layouts available today. 

Executive flats were originally designed to accommodate larger families and multi-generational households. 

However, in recent years, their spacious layouts have become even more desirable as many households continue adapting to hybrid work arrangements and changing lifestyle needs.

The transaction worked out to approximately $911 psf and established several records simultaneously.

Besides becoming the highest-priced executive maisonette ever sold in Singapore, the transaction also set a new all-time high for HDB resale prices across all flat types in Bishan. 

The flat's lease began in 1987, which meant it still has around 60 years and eight months remaining at the time of sale.

Toh Yi Gardens has significantly outpaced the broader market

Price growth at Toh Yi Gardens has been particularly notable over the past five years.

Back in 2021, executive units in Toh Yi Gardens recorded an average price of around $683 psf. 

In comparison, executive flats across Bukit Timah averaged $621 psf. This meant Toh Yi Gardens commanded a premium of approximately 34 per cent.

The gap was even wider when compared against executive flats across Singapore. 

At that time, executive units nationwide averaged around $462 psf, giving Toh Yi Gardens a premium of roughly 48 per cent.

Rather than narrowing over time, these differences have grown even further. 

By 2026, the premium between Toh Yi Gardens and executive units across Bukit Timah had widened to around 52 per cent. 

Meanwhile, the gap between Toh Yi Gardens and executive flats across Singapore stood at approximately 36 per cent.

Overall, Toh Yi Gardens has recorded around 31 per cent growth in average psf over the past five years.

At the time of writing, units within the development command an average price of approximately $1.4 million. However, buyers seeking a relatively lower entry point may still find listings from around $1.35 million.

What can Bukit Timah residents expect in the years ahead?

The latest record sale comes as Bukit Timah is preparing for one of its most significant transformations in decades.

The massive Turf City redevelopment

The biggest change on the horizon is the redevelopment of the former Bukit Timah Racecourse site.

Spanning approximately 176 hectares, the site will be transformed into a mixed estate comprising both public and private housing. 

Most notably, the redevelopment will introduce Bukit Timah's first new HDB flats in almost 40 years.

Under the Draft Master Plan 2025, around 20 sites have been earmarked for residential use. 

The plans also include three white sites, one of which is linked to the future Turf City MRT station, along with land parcels allocated for a school and healthcare facilities.

The scale of the redevelopment is substantial. Current plans aim to deliver between 15,000 and 20,000 public and private homes supported by strong transport connections and community amenities.

For an area long dominated by landed homes and private condominiums, the addition of public housing will significantly reshape Bukit Timah's residential landscape.

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Turf City MRT station and improved connectivity

The future Turf City MRT station on the Cross Island Line, which is expected to open around 2032, will serve as the centrepiece of the new estate.

The station will provide direct connections to areas such as Ang Mo Kio, Pasir Ris and Punggol. According to planning documents, most homes within the new estate are expected to be located within a 10-minute walk of the station. 

The redevelopment also aligns with URA's vision of creating a more pedestrian-friendly and car-lite neighbourhood.

Road improvement works are already being planned to support future population growth. 

These include upgrades and widening works along Eng Neo Avenue, Dunearn Road and Bukit Timah Road. 

As dependence on private transport decreases, more land can potentially be allocated to community spaces, greenery, as well as pedestrian and cycling paths.

Strong developer confidence in Bukit Timah's future

The land market has already signalled strong confidence in Bukit Timah's long-term prospects.

Two Government Land Sales sites along Dunearn Road were launched in quick succession and attracted healthy developer participation.

The first site, which can potentially yield around 380 homes, attracted nine bids. 

The top bid came from a joint venture comprising CSC Land Group, Sekisui House and Frasers Property, which submitted an offer of approximately $491 million or $1,410 psf per plot ratio.

The second site, capable of yielding around 330 homes together with commercial space, attracted six bids. 

A joint venture between Wing Tai and Metro Holdings emerged as the winner with a bid of $1,625 psf per plot ratio.

Notably, the second site's land rate was around 15 per cent higher than the first, underscoring the confidence developers have in the future growth potential of the area.

Analysts have also pointed out that new private home supply in the Core Central Region is expected to remain relatively limited. 

Around 1,870 new units are estimated to be available in 2026, with supply projected to decline further in 2027.

Such conditions could continue supporting price growth within the central region.

Beauty World is already undergoing change

While the Turf City redevelopment remains a longer-term story, transformation is already taking place within the Beauty World precinct.

Located a 5-minute walk away from Toh Yi Gardens, The Reserve Residences is currently the flagship project in the area. 

Designed by Woha Architects and developed by Far East Organisation and Sino Group, the 99-year leasehold mixed-use development at Jalan Anak Bukit comprises 732 residential units across eight blocks ranging from four to 32 storeys. 

The development is expected to obtain TOP in the first quarter of 2028.

The project also incorporates the Beauty World Integrated Transport Hub, which will include a new air-conditioned bus interchange scheduled to open in 2028. 

The hub will feature an underground pedestrian connection to Beauty World MRT station and an overhead bridge linking residents directly to Bukit Timah Market & Food Centre.

In addition, The Reserve Residences sits above Bukit V, a three-storey retail podium offering more than 20,000 sqm of retail gross floor area, with CS Fresh serving as the anchor tenant.

Meanwhile, The Linq @ Beauty World has already been completed. 

Finished in 2025, the development comprises 120 residential units integrated with 53 strata commercial units and sits directly above Beauty World MRT station. 

It is also one of the few modern freehold mixed-use developments in this corridor.

Taken together, these developments suggest that Bukit Timah's appeal is likely to continue strengthening in the years ahead. 

Improved transport connectivity, new housing options and large-scale regeneration efforts are gradually reshaping the area, even as mature projects like Toh Yi Gardens continue demonstrating their ability to command record-breaking prices.

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This article was first published in 99.co.