Executive unit in Tampines sold for $1.14m, marking new all-time-high transaction in the estate
PHOTO: Screengrab/Google Maps
PUBLISHED ONJuly 03, 2024 6:43 AMByAzhann Rosmin
Most recently, a noteworthy transaction took place at 139 Tampines Street 11, establishing a new all-time high (ATH) for the Tampines area.
About the Tampines neighbourhood
Tampines is one of Singapore's largest and most well-developed HDB towns, offering a diverse community and many amenities. As a mature estate, Tampines boasts a well-rounded mix of residential, commercial, and recreational facilities, making it desirable for various demographics.
The town has good access to public transportation, including the Tampines MRT station and several bus services, ensuring convenient connectivity to other parts of Singapore.
Additionally, Tampines is home to several major shopping malls such as Tampines Mall, Century Square, and Tampines 1, providing residents with numerous shopping, dining, and entertainment options.
Tampines provides amenities such as education and healthcare, with schools like Tampines Primary School and St Hilda's Secondary School, as well as healthcare facilities like the Changi General Hospital nearby. The town also offers green spaces and recreational areas such as Tampines Eco Green and Bedok Reservoir Park.
Additionally, community clubs and sports facilities like the Tampines Hub promote a strong sense of community and an active lifestyle. Tampines' amenities and strategic location make it an ideal neighbourhood for those seeking a balanced living environment.
About 139 Tampines Street 11
Block 139 on Tampines Street 11 is situated in the bustling HDB town of Tampines, which is known for its established residential area and good amenities. Its proximity to schools, parks, and MRT stations makes it a sought-after location for many Singaporean families.
Most favourably, the block has the Tampines Round Market & Food Centre right at its doorstep, which might explain the recent ATH and high demand — given also that it is the only hawker centre in the whole of Tampines.
Below are the nearby amenities:
Public transportation
- Tampines West MRT - 0.9km, 10-min walk
- Tampines MRT - 2.1km, 5-min drive
Schools
- Tampines Secondary School - 0.7km, 2-min drive
- Chongzheng Primary School - 1.5km, 4-min drive
- Junyuan Primary School - 1.8km, 5-min drive
- Junyuan Secondary School - 2.7km, 6-min drive
- Saint Hilda's Primary School - 1.8km, 4-min drive
- Saint Hilda's Secondary School - 1.7km, 4-min drive
- Gongshang Primary School - 2km, 5-min drive
- Tampines North Primary School - 2.4km, 6-min drive
- Temasek Polytechnic - 2.5km, 6-min drive
Parks
- Sun Plaza Park - 2km, 6-min drive
- Bedok Reservoir Park - 3.4km, 7-min drive
Supermarkets
- Prime Supermarket - 2.2km, 6-min drive
- NTUC FairPrice @ Tampines Hub - 1.2km, 13-min drive
Hospitals and clinics
- Changi General Hospital - 2.1km, 5-min drive
- Singhealth Polyclinic 1.7km, 4-min drive
Malls
- Tampines Mall - 1.3km, 4-min drive
- Tampines One - 1.5km, 4-min drive
- Century Square - 1.4km, 4-min drive
- Our Tampines Hub - 1.2km, 13-min walk
Hawker centres
- Tampines Round Market & Food Centre- 1-min walk
Below are the most recent transactions for 139 Tampines Street 11:
| Date | Unit | Size (sqft) | Price (S$) | Price (S$, psf) | Type |
| 06/2024 | Floor 4-6 | 2,045 | 1,140,000 | 557 | EXE |
| 10/2023 | Floor 1-3, Unit 04 | 850 | 420,000 | 494 | 3R |
| 09/2023 | Floor 4-6 | 818 | 415,000 | 507 | 3R |
| 05/2023 | Floor 4-6 | 1,001 | 450,000 | 449 | 3R |
| 05/2023 | Floor 1-3 | 807 | 420,000 | 520 | 3R |
| 01/2023 | Floor 4-6 | 1,001 | 423,000 | 422 | 3R |
| 11/2022 | Floor 4-6, Unit 58 | 818 | 390,000 | 476 | 3R |
| 07/2022 | Floor 1-3, Unit 24 | 807 | 390,000 | 483 | 3R |
| 11/2021 | Floor 4-6 Unit 08 | 1,001 | 358,000 | 357 | 3R |
Data taken from 99.co Researcher.
Now, we take a closer look at the transaction and attempt to analyse it.
About the ATH transaction
On June 1, 2024, a significant property transaction occurred at 139 Tampines Street 11, marking a notable milestone in the Tampines property market. The specific details of this transaction are as follows:
• Property Type: Executive (EXE) Flat
• Storey Range: 4th to 6th floor
• Area: 190 square metres
• Resale Price: S$1,140,000
This transaction set the ATH price for an HDB flat in Tampines, reflecting the increasing value and demand for properties in this area.
We can take a look at the recent EXE transactions in 139 Tampines Street 11 and also the overall transactions in the form of graphs:
The only EXE transaction to ever occur from the property is the transaction that this article is all about. We can consider this as a significant high point. Perhaps there was a shift in the market value and demand for executive units in the area.
From 2009 to 2024, there is a noticeable upward trend in the percentage growth, with two substantial spikes — 333.87 per cent and 273.77 per cent.
The volume of transactions fluctuates, but the significant rise in average price, especially towards 2024, indicates an increase in property value, reflecting potential changes in demand and possibly improvements or developments in the area.
Next, we move to the analysis and insights of the transaction.
Analysis and insights on the ATH transaction
The resale price of SGD 1,140,000 for the executive flat at 139 Tampines Street 11 is significant for several reasons:
- Market demand: The high price indicates strong demand for larger HDB flats in Tampines, particularly those with spacious layouts and convenient locations.
- Property features: The flat's generous size of 190 sqm and position between the 4th and 6th floors likely contributed to its high resale value.
- Comparative context: While this price sets an ATH for Tampines, it is still below the national ATH of SGD 1,500,000, suggesting potential for further price growth in the area.
Now, how do the nearby blocks fare compared to 139?
Comparative analysis of nearby blocks
To gain insight into the overall market trends in Tampines, it is important to compare the highest transaction price with resale prices in nearby blocks on Tampines Street 11. Analysing these transactions will offer a clearer understanding of property values and trends in the area.
Let's see how the nearby blocks fare against 139:
The graph above shows a sharp increase in the average resale price for 139 in 2024, achieving a significant 333.87 per cent growth, which stands out compared to the more moderate price increases for Blocks 138 and 113.
The price trends for the other two blocks show growth rates of 18.14 per cent and 64.48 per cent, respectively, indicating overall appreciation in the area but highlighting 139's exceptional performance. The transaction volumes fluctuate, with a notable peak for 139 in 2024, suggesting heightened buyer interest and activity.
Conclusion
The recent transaction at 139 Tampines Street 11 reflects the increasing value of properties in Tampines and underscores the area's appeal to home buyers. With the recent million-dollar transaction of an executive unit in the property, it showcases the demand for a good unit in a good neighbourhood.
ALSO READ: Wise move? 35-year-old maisonette at Serangoon Central sold for $1.23m