Serangoon HDB flat sold for S$1.208M, becomes most expensive unit in the estate

HDB flat is most expensive unit & executive apartment in Serangoon

As million-dollar HDB flats become more common, units in Serangoon had not breached the S$1.2 million threshold — until this month.

In March, a Serangoon flat was sold for S$1.208 million, making it the first in the estate to exceed that mark.

It also became the most expensive flat in Serangoon.

Most expensive Serangoon flat has 60 years 11 months left on lease

The pricey flat is located in Block 321 Serangoon Avenue 2, according to HDB resale flat records.

It’s on the seventh to ninth floor of a block whose residents obtained their Temporary Occupation Permit (TOP) in 1986.

That means the flat in question has only 60 years 11 months left on its 99-year lease.

Flat is spacious, has expansive living room

As the flat is an executive apartment, though, it has a spacious floor area of 150 square metres (sq m), or 1,615 square feet (sq ft).

That works out to a price per square foot (psf) of about S$747 psf.

Inside, the flat has three bedrooms and two bathrooms, similar to that of a five-room flat, according to property website 99.co.

It also has an expansive living room that can be converted into a study room, maid’s room or an additional bedroom.

Block is in between two MRT stations

In terms of nearby amenities, the block is in between two MRT stations — Lorong Chuan and Serangoon — giving residents access to two MRT lines.

According to HDB, both are more than 400m away, with about 5 minutes’ walk to Lorong Chuan.

Educational institutions nearby include Nanyang Junior College, Yangzheng Primary School and Zhonghua Secondary School. There are also a host of childcare centres and kindergartens, as well as a Community Club, within walking distance.

However, a drawback is there is no market or hawker centre within 500m of the location.

With the popular NEX shopping mall a 9-minute walk away, though, residents’ shopping and eating needs are well-served.

Serangoon flat is most expensive executive unit in estate

At a selling price of S$1.208 million, the flat is the most expensive in Serangoon and the most expensive executive apartment, according to 99.co.

In fact, almost all the executive units sold on Serangoon Avenue 2 this year have gone for above S$1 million, according to HDB records.

Executive units generally command higher prices due to their larger size, and more so if they have good locations.

Average price of flats in Serangoon has risen 7.01% in 2024

While this is the first flat in Serangoon to cross the S$1.2 million mark, more might follow as prices in the estate are rapidly escalating, 99.co said.

Though the average flat price in Serangoon is just S$599,338 (S$570 psf), more flats are being sold in the estate this year.

More than 100 transactions have been registered in 2024, despite only three months having gone by.

Moreover, the average price of flats this year has risen 7.01% compared with 2023 — it’s now at S$668,773 (S$610 psf).

Over the past five years, Serangoon flat prices have gone up by 37.43%, 99.co added.

Also read: Toa Payoh HDB flat sold for S$1.15M, sets record for 4-room units in estate

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Featured image adapted from Google Maps.