Record-high resale price of $1.038m for executive flat in Tampines

The Singaporean Housing and Development Board (HDB) resale market has been characterised by unpredictable trends that have a significant impact on both buyers and sellers.

A recent transaction of an Executive (EXE) flat in Tampines has set a new resale price record for the town, making it a noteworthy event in this dynamic market.

This article examines the specifics of this significant transaction and its implications for the future of the HDB resale market in Tampines.

About Block 856D Tampines Street 82

Block 856D Tampines Street 82 is an HDB block in the Tampines HDB Estate. Constructed in 1995, this 99-year leasehold property boasts 76 sensational units. The MOP year for this HDB block is 2000. Conveniently located within walking distance of Tampines West MRT and Tampines MRT stations, residents can easily explore other parts of Singapore.

Families with children and young couples will find immense convenience in the vibrant offerings of the Tampines neighbourhood. Situated within minutes of renowned shopping destinations such as Our Tampines Hub, Century Square, Tampines Mall, and Tampines One, residents have easy access to a diverse array of retail and entertainment options.

Moreover, the neighbourhood boasts proximity to esteemed educational institutions including Junyuan Primary School, Poi Ching School, St Hilda's Primary School, and Tampines Primary School, ensuring a wealth of learning opportunities for young minds.

Additionally, residents benefit from exceptional convenient access to public transportation, further enhancing the neighbourhood's appeal. Tampines Bus Interchange and Tampines/Tampines West MRT stations are just minutes away, facilitating seamless commuting experiences for all.

Rest easy knowing that your health needs are taken care of with clinics like Q & M Dental Surgery available for emergencies and regular check-ups. SingPost Posting Box is the nearest post office for your postal needs, while POSB ATM is available for monetary transactions.

Unwind and relax at the tranquil Our Therapeutic Garden park nearby. Stay updated on the latest price trends and transaction history data for 856D Tampines Street 82 HDB Block.

ATH transaction details

Attention is focused on a resale deal at Block 856D, Tampines Street 82, involving an Executive flat that was recently sold. This impressive flat, spanning 149 sq m and between the 4th and 6th floors, fetched an impressive sum of S$1,038,000 on April 1, 2024.

From August 2023, we can see the price trend slowly touching and (recently) passing the S$1 million threshold.

This transaction not only emphasises the demand for spacious residential units but also establishes a new standard for resale prices in the region.

ATH price analysis

The resale price of $1,038,000 is a noteworthy milestone, representing the highest price ever fetched by an Executive flat in Tampines. While it falls short of the national record, this transaction is indicative of a wider trend of increasing property values in highly sought-after areas such as Tampines.

As such, this sale is a vital data point for analysts seeking to forecast the future direction of the resale market in this region.

Factors influencing high prices

Various elements play a role in attaining substantial resale values. The generous dimensions and arrangement of Executive flats render them an attractive choice for bigger households that value spaciousness and convenience.

The prime position of Tampines, complemented by its superb transportation options, educational institutions, and retail amenities, further enhances the appeal of real estate in this locale.

Moreover, the general economic stability of Singapore, in conjunction with limited supply in the resale domain, sustains the upward trajectory of prices.

Implications for homeowners and buyers

The recent transaction in Tampines has the potential to increase the value of Executive flats for homeowners in the area. Prospective buyers should approach the market with caution, however, as inflated valuations may affect affordability and mortgage planning.

Buyers must conduct extensive market research and consider the long-term financial implications before entering the resale market at such high price points.

Conclusion

The high resale value achieved by the Executive flat in Tampines is a noteworthy occurrence, highlighting the enduring appeal of HDB flats in bustling towns.

Although this is undoubtedly encouraging news for sellers, it presents a formidable challenge for buyers attempting to navigate the fiercely competitive market.

In light of the constantly shifting landscape of the HDB resale market, it is crucial for potential buyers to remain well-informed through trustworthy sources and to seek out expert advice from real estate professionals. This will enable them to make sound decisions in this dynamic and exciting market.

ALSO READ: 4-room flat in Queenstown sold for close to $1.24m, setting new resale record

This article was first published in 99.co.