Punggol HDB flat sold for $850k marks all-time high for executive flats in the area

An executive flat (EXE) in the Punggol estate was recently sold for $850,000, making it the most expensive EXE transaction ever recorded in Punggol to date.

Let's take a closer look at this sale, together!

The $850k all-time high Executive flat in Punggol

Located at Block 185 Edgefield Plains, this HDB EXE flat sat on one of the higher floors of the project — between the 13th and 15th storeys.

The EXE flat measures 1,378 sq ft, which is quite generous by itself. However, it's worth noting that the estate does have slightly larger executive flats as well, with some reaching up to 1,399 sq ft. That said, this sale saw a price per square foot (psf) of $616.

The lease for this flat started in 2003, which means it still has approximately 77 years and eight months left. That's relatively young for an executive flat.

In fact, Punggol is home to some of the youngest executive HDB flats across the island, with many units having received their Temporary Occupation Permit (TOP) in the 2000s — making them a rare find compared to older executive flats in more mature estates.

A closer look at its location

Although the development isn't located near any MRT stations, it's still well-connected via LRT. Both Cove LRT and Meridian LRT stations are about a 7-minute walk away, offering easy access to the rest of Punggol.

The nearest MRT, Punggol Station, connects you to the North-East Line (NEL) and the upcoming Cross Island Line (CRL), and it's a 3-minute drive from the project.

You won't find any hawker centres within walking distance, but there are a few coffeeshops by Broadway and Happy Hawkers within a 10-minute walk. If you're looking for more retail and food options, a 3 to 7-minute drive will take you to Waterway Point, Compass One, Oasis Terraces, and Punggol Plaza.

A plus point: the EXE flat is just a 6-minute drive from the upcoming Punggol Digital District (PDD), which could further boost the area's appeal.

Families with young children will find plenty of childcare centres and kindergartens nearby. For primary schools, there's a wide selection within a 1km radius, including:

1. Edgefield Primary School
2. Greendale Primary School
3. Horizon Primary School
4. Mee Toh School
5. Oasis Primary School
6. Punggol View Primary School
7. Rivervale Primary School
8. Waterway Primary School

Within the 1 to 2km range, you'll find even more choices, such as:

1. Compassvale Primary School
2. North Spring Primary School
3. Punggol Cove Primary School
4. Punggol Green Primary School
5. Sengkang Primary School
6. Valour Primary School

The project also borders Greendale Secondary School. While some units may face other blocks, certain stacks like those in Blocks 185, 186, 174A, 174B, 174C, and 174D could potentially enjoy unblocked views of surrounding greenery and the nearby playground.

The $850k sale dethroned the previous record holder

Before this, the title of the priciest executive flat in Punggol belonged to a unit at Block 191 Punggol Central. That unit changed hands for $838,000, translating to about $608 per square foot. In comparison, the recent $850,000 transaction at Block 185 Edgefield Plains came in $12,000 higher — or roughly 1.43 per cent more.

Executive flats in Punggol are primarily located at three clusters:

• 111 - 118 Edgefield Plains
• 186 - 192 Punggol Central
• 181 - 185 Edgefield Plains

Apart from lofts, these executive units are among the largest HDB flat types in the estate, typically ranging between 1,378 and 1,399 sq ft.

But Punggol EXE prices are steadily rising

Recent resale data suggests that EXEs in Punggol have been climbing in value at a consistent pace, with each transaction typically spaced a few months apart and most showing a gradual increase of around $2,000 to $8,000.

Here are the top EXE sales from Punggol so far:

However, this pattern breaks with the two most recent sales. 

In December 2024, one unit saw a sharp $13,000 jump in price, and the latest deal at $850,000 reflects another significant rise of $12,000.

If you take a step back and look at the broader price trend for Punggol's EXEs over the past three years (excluding early 2025 since there's not enough comparable data yet), the appreciation becomes even clearer.

From 2021 to 2022, average resale prices rose by 12.20 per cent. The following year, they went up another 10.27 per cent, and from 2023 to 2024, prices continued their climb — albeit at a slower 5.19 per cent pace.

This upward trend reflects what's happening nationwide too, though at a slightly gentler rate. Across Singapore, average EXE prices increased by 10.94 per cent from 2021 to 2022, 6.05 per cent from 2022 to 2023, and 5.45 per cent between 2023 and 2024.

All in all, Punggol's executive flats have seen a total appreciation of about 30.15 per cent in the last three years, outpacing the national average of 24.08 per cent over the same period.

In 2024, the average price for a Punggol EXE stood at approximately $775,634. And if you're browsing listings on 99.co, you'll still find units starting from around $775,000 — which means there are options slightly below the average as well.

As for whether we'll continue seeing sharp jumps in resale prices, especially ones hitting five-digit increases like the $12,000 and $13,000 surges mentioned earlier — it's too early to say. We'll likely get a clearer picture by the end of the year.

Still, there are a few reasons why prices might be heading in that direction. Many buyers today are prioritising bigger living spaces, and executive apartments are among the most spacious HDB flat types available. Their shorter remaining leases are usually a concern, but Punggol's EXEs are relatively young, which could make them more appealing in terms of value.

Another contributing factor may be the upcoming PDD. The first phase, covering 21 hectares, is expected to open progressively starting from Q3 2024, with full completion by 2026.

This development could be encouraging buyers to enter the market earlier — either to live closer to future job opportunities or to invest ahead of a potential rise in property values when the PDD becomes operational.

While the $850k sale is the highest for an EXE, it's not the priciest HDB resale in Punggol

Even though the recent $850,000 transaction holds the top spot for executive flats in Punggol, it doesn't take the crown for the most expensive HDB resale in the area. That title belongs to a loft unit at Punggol Sapphire, which fetched for $1.228 million. Spanning 1,604 sq ft, this works out to about $765 psf.

In fact, if you look at the top five highest HDB resale transactions in Punggol, they all come from the same development — and they're all loft-style units:

These premium apartment lofts are known for their double-volume ceilings and tall window panels, offering an open, airy feel that sets them apart from standard layouts. Despite being relatively rare, they remain a popular alternative to executive flats for those seeking more space and distinctive interiors.

This article was first published in 99.co.