Punggol 3-Room flat fetches S$638K just after MOP – a near S$350K return

Just last week, we covered a record-breaking sale of a newly MOP-ed flat in Clementi. But it looks like that wasn’t a one-off. Another project, this time in Punggol, is also seeing strong resale demand shortly after hitting its Minimum Occupation Period (MOP). In fact, this 3-room resale unit has just set a new all-time high for the area.

The record-breaking 3-room sale in Punggol

The flat that’s now holding the title for highest 3-room resale price in Punggol is from Northshore Residences I – a recently MOP-ed project at 406C Northshore Drive.

The 3-room unit, sized at 721 sqft, was sold for S$638,000, which translates to S$884 psf. Sitting between the 19th and 21st floor out of a total of 25 storeys, the unit enjoys a high-floor position. And thanks to the development’s proximity to the sea, there’s a good chance that the buyer is now enjoying scenic sea views, a rare perk at this price point.

The lease started in 2021, which means there’s still 94 years and 10 months left – another major plus for the buyer, especially in terms of long-term value.

According to 99.co’s Property Value Tool, the estimated value of this exact unit is S$573,000. This suggests the buyer likely paid about S$65,000 in Cash Over Valuation (COV) – which pushes the price well beyond its market valuation.

Curious if your home could be a million-dollar resale? Check its value in under a minute with 99.co’s Property Value Tool.

Seller might have netted a 130% gain

Since this unit sold above its average valuation – a trend that’s quite common for newly MOP-ed flats, especially those fresh to the resale market – it’s no surprise that the seller likely walked away with a sizeable profit.

Back when Northshore Residences I was launched during the May 2015 BTO exercise, prices for 3-room flats started from just S$182,000. However, this unit is located between the 19th and 21st floor of a 25-storey block, which means the actual purchase price would’ve been significantly higher than the base price.

Based on average floor premiums of S$5,000 per storey, a unit this high could have cost about S$80K to S$100K more than the lowest-priced units. That would bring the estimated original price closer to S$260,000–S$280,000 before any grants.

With a resale price of S$638,000, the seller could still be looking at gains of around S$350,000 to S$370,000 – or roughly a 130% to 140% return on their purchase. And that’s before considering any housing grants, which would’ve lowered the upfront cost and increased the effective profit.

Of course, this isn’t a hard-and-fast figure. There are always additional costs to consider – such as agent commissions, legal fees, and other transaction-related expenses. So while the final take-home amount may be a bit lower, the profits from this sale are still relatively substantial. 

If any of these MOP-approaching homes belong to you and you’re unsure about your next property move, don’t hesitate to book a FREE consultation with our 99 advisors today!

A closer look at Northshore Residences I’s location

Samudera LRT and Punggol Point LRT are conveniently located just 2 and 3 minutes away on foot, making it easy for you to get to Punggol MRT in just a few stops. If you’re commuting by bus, the Punggol Coast Bus Interchange is about a 6-minute drive from the development.

When it comes to daily conveniences and food options, there’s a hawker centre about 13 minutes away on foot, and Northshore Plaza I is only a 3-minute walk – perfect for quick meals, groceries, and retail therapy. That said, the nearest NTUC FairPrice still requires about a 16-minute walk. For more variety, One Punggol and the upcoming Punggol Coast Mall are a 4 to 5-minute car ride away.

In terms of early childhood education, there are limited but accessible options nearby:

Child care centres:

• Dayspring Child Care Centre LLP – 11 Northshore Drive (about 323m away)
• MindChamps Preschool @ Punggol Northshore – 11 Northshore Drive (about 323m away)

Kindergarten:

• Dayspring Kindergarten – also at 11 Northshore Drive

For primary schools, these are within the 1km radius:

• Northshore Primary School
• Punggol Cove Primary School
  

And within 1 to 2km, you have:

• Edgefield Primary School
• Oasis Primary School
• Punggol Green Primary School
• Punggol View Primary School
• Valour Primary School

Edgefield Secondary School is also a 6-minute drive away, which could be ideal if you have children heading into their teenage years.

If you enjoy the outdoors, Punggol Promenade Park Connector is about a 6 minute drive away. For recreation and community events, SAFRA Punggol is just 5 minutes away by car, offering sports, dining, and enrichment programmes.

You’ll also find the Singapore Institute of Technology (SIT) a 5-minute drive away. It’s part of the Punggol Digital District (PDD), Singapore’s first smart district. This area will integrate SIT’s campus with JTC’s business parks, focusing on sectors like AI, robotics, cybersecurity, and digital technology.

With around 28,000 jobs expected to be created and 12,000 students housed in the area, the PDD is set to become a major hub for innovation. As a result, demand for nearby homes, including those in Northshore Residences I, is likely to grow even stronger in the coming years.

Previous 3-room record was at S$622K

Before this new all-time high was set, the record for the highest 3-room resale price in Punggol stood at S$622,000. That transaction took place back in November 2022, so considering it’s been about three years, the timing of this new record from Northshore Residences I seems fairly reasonable.

The previous record-holder was a 3-room flat in Waterway Sunray, located at Block 659B. That particular unit sat between the 13th and 15th floors, offering decent height and possibly unblocked views. It measured 732 sqft, and based on its S$622,000 selling price, the flat was transacted at roughly S$849.73 psf.

Waterway Sunray is now 7 years old, which means it had just reached its MOP when that sale was made – very similar to the situation at Northshore Residences I.

Looking for more HDB flats that MOP-ed recently besides Northshore Residences I? Check out our article here: HDB BTO MOP 2025 & 2026 – Best picks within a 10-minute walk to MRT & LRT stations

Punggol 3-room price trends and options

So far, Northshore Residences I has seen a total of 11 resale transactions, with only two involving 3-room flats. But what stands out is the wide price gap between those two sales. One was the recent record-setting unit that sold for S$638,000, while the other, located at Block 406B, transacted for just S$550,000.

The main difference likely boils down to floor level and views. The S$550K unit was located on the 7th to 9th floors, which may not offer the same sea-facing views or unblocked scenery that higher-floor units enjoy.

Even so, if you look at broader price trends in Punggol, data from 99.co’s Researcher tool shows that 3-room flats have appreciated by 45.56% over the past five years. And when comparing the average prices of the two 3-room sales from Northshore Residences I with Punggol’s 2025 average resale prices, there’s a 10.20% price gap.

Still, it’s worth noting that this comparison could be slightly skewed since the limited number of 3-room transactions at Northshore Residences I might inflate the average. In 2025, the average price for 3-room flats at Northshore Residences I stands at around S$594,000, while Punggol’s overall average for 3-room resale units is about S$539,000.

If you’re currently house-hunting, listings on 99.co show that 3-room units at Northshore Residences I start from S$558,000, while Punggol as a whole still offers some options starting at around S$495,000 – giving you a decent range of choices depending on your budget and preferences.

More MOP flats from Punggol returning to the market in 2025 and 2026

If you’re considering a home in Punggol, you’ll soon have even more options. A fresh wave of resale flats will enter the market as several projects reach their MOP in 2025 and 2026. Here’s a quick look at what’s coming:

That’s more than 3,000 potential resale flats returning to the market in just two years.

Read more: Punggol has the most number of MOP flats in 2025

While resale prices in Punggol have been steadily climbing, in part due to its proximity to the upcoming PDD, the increasing supply of MOP flats could help keep prices competitive. With more units entering the market, especially from sought-after projects like those in the Northshore precinct, buyers might see a healthier balance between demand and affordability – even as the area grows in appeal thanks to the PDD’s tech and business ecosystem.

Interested in more All-Time High (ATH) covers? Head on over here! 

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