SINGAPORE: Yet another HDB resale price record shattered this week as a property in Serangoon breached the S$1.2 million mark, marking the first of its kind in the area.

The property, located at 321 Serangoon Avenue 2, fetched a staggering price slightly exceeding S$1.2 million, settling at S$1.208 million.

Situated between the 7th and 9th floors, the HDB flat boasts three bedrooms and two bathrooms, akin to the layout of a 5-room flat. However, its standout feature lies in its expansive living area, offering versatility for conversion into a study room, maid’s room, or an additional bedroom.

Spanning 1,615 square feet, the property’s price per square foot (psf) stands at approximately S$747, despite having about 60 years and 11 months of its 99-year lease remaining.

This milestone sale not only clinches the title of the most expensive HDB and Executive Apartment (EXE) in the area but also underscores the evolving trend in Singapore’s housing market.

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Situated in a prime location, the property enjoys proximity to various amenities and facilities, enhancing its desirability. Transportation connectivity remains a key highlight, with multiple MRT stations within easy reach.

Residents benefit from Lorong Chuan MRT station just a 5-minute walk away, while Serangoon MRT station is an 11-minute stroll, and Woodleigh MRT station merely an 8-minute drive from the property. Additionally, the Serangoon Bus Interchange, situated within a 7-minute walk, ensures seamless connectivity to other parts of the island.

For leisure and lifestyle needs, residents need not look far, with the bustling NEX shopping mall just a 9-minute walk away. Moreover, families with school-going children will find convenience in the proximity of renowned educational institutions.

Nanyang Junior College, located adjacent to the property, offers easy access for students pursuing pre-university education, while several primary and secondary schools dot the vicinity.

The surge in S$1.2 million HDB transactions is indicative of a broader trend, with EXE units increasingly commanding premium prices, especially in prime locations near schools, MRT stations, and bus interchanges.

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While Serangoon currently stands with only one such transaction, ongoing listings for EXE units priced at S$1.2 million and S$1.25 million hint at a shifting trend.

As more EXE units hit the market at these price points, Serangoon is poised to witness a surge in transactions surpassing the S$1.2 million mark.