Tampines has just set a new milestone in the HDB resale market, with an executive maisonette changing hands for S$1.268 million — the first time a flat in the town has crossed the S$1.2 million mark. Behind this record-breaking sale lies a mix of factors driving demand: the scarcity of executive flats, their generous space, and a wave of buyers willing to pay more money for less remaining lease.
Table of contents
- Record S$1.208M for executive HDB along Tampines St 45
- Million-dollar premium HDB maisonettes
- What’s around the precinct?
- First HDB flat in Tampines to fetch above S$1.2M
- Tampines’ most expensive HDB flats
- Why pay high for a decaying lease?
- Executive HDB price growth over the years
Record S$1.208M for executive HDB along Tampines St 45
A premium maisonette at 498J Tampines Street 45 has just set a new benchmark for executive flats in Tampines, changing hands for S$1.208 million (S$764 psf). Spread across 1,582 sqft over two storeys, this rare flat exemplifies the appeal of maisonettes. Think of expansive layouts, clear separation between living and sleeping areas, and a landed-home feel within an HDB setting.
With its lease starting in 1997, this executive HDB flat has 70 years and 8 months left. Most will ask themselves: Who would pay such money for a 70-year lease? Many. Given that HDB no longer builds this type of public housing, demand for such rare units has remained strong despite their old age.
Million-dollar premium HDB maisonettes
Tampines Street 45 itself has quietly built a reputation as a million-dollar maisonette hotspot. In the past year, there have been four similar premium maisonettes with similar remaining leases transacted in the HDB resale market.
| Transaction Date | Block | Lease Started | Remaining Lease | Resale Price (S$) | PSF (S$) |
| 08/2025 | 498J | 1997 | 70 years 8 months | 1.208M | 763 |
| 07/2025 | 498F | 1997 | 71 years | 1M | 632 |
| 03/2025 | 498B | 1997 | 71 years 5 months | 1.05M | 663 |
| 11/2024 | 498D | 1997 | 71 years 5 months | 1.1M | 695 |
Each is a 1,582-sqft flat located on the seventh to ninth storeys of the block, fetching prices from S$1 million to the recent highest record of S$1.208 million. At S$763 psf, the recent sale also marks the highest psf achieved for an executive flat in Tampines.
These transactions demonstrate that maisonettes command a loyal following among buyers who are willing to pay a premium for size and the sense of living in the “penthouse of public housing”, especially in well-connected, mature estates like Tampines.
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What’s around the precinct?
Daily conveniences are well within reach. A short bus ride from Tampines Street 45 takes residents to major retail hubs like Tampines Mall, Century Square, and Tampines 1, each offering a wide range of dining, shopping, and entertainment options.
Closer to home, neighbourhood centres like Tampines Mart provide a supermarket, a wet market, and a variety of local eateries, from hearty zi char to popular prata and nasi lemak stalls that draw regular queues.
Nature lovers will also appreciate the surroundings. Tampines Eco Green Park is close enough for a morning walk before work or a leisurely weekend cycle, offering tranquil grasslands and wetlands that attract birdlife.
Park Aquaria provides a more manicured green space for casual strolls, while the scenic Sungei Tampines offers shaded riverside paths for jogging or cycling. These spots allow residents to enjoy the outdoors without leaving the neighbourhood.
Families with children will find the location especially appealing. The particular block 498J, at least, is within a 1 km radius of Tampines North Primary School and White Sands Primary School. For older students, the options are even more plentiful. Six secondary schools can be found within the same distance, including:
- Dunman Secondary School
- East Spring Secondary School
- Hai Sing Catholic School
- Loyang View Secondary School
- Meridian Secondary School
- Ngee Ann Secondary School
MRT access, however, is slightly less convenient. The nearest station, Tampines East MRT on the Downtown Line, is over 800 metres away and might not be within walking distance. Still, bus connections make the journey manageable. Drivers, on the other hand, benefit from quick access to the Tampines Expressway (TPE).
In the near future, connectivity will improve further with a Cross Island Line (CRL) station slated for completion in 2030, located about 600 metres from the block.
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First HDB flat in Tampines to fetch above S$1.2M
The S$1.208 million transaction in August 2025 not only sets a new record for executive flats, but also the overall public housing in Tampines. It is the first time in history that an HDB flat has been sold for more than S$1.2 million in the area.
In June 2025, a larger 1,625-sqft executive flat sold for exactly S$1.2 million, translating to S$738 psf. This unit is located at 856E Tampines Street 82 and has its lease started in 1995. Yes, the flat has an even shorter remaining lease of about 69 years.
In fact, the top end of the HDB resale market in Tampines is dominated by these older, yet more spacious, executive HDB flats, whether maisonettes or typical executive apartments.
Tampines’ most expensive HDB flats
| Transaction Date | Address | Size (sqft) | Price (S$) | PSF (S$) | Lease Started | Type |
|---|---|---|---|---|---|---|
| 08/2025 | 498J Tampines Street 45 | 1,582 | 1.208M | 763 | 1997 | Executive |
| 06/2025 | 856E Tampines Street 82 | 1,625 | 1.2M | 738 | 1995 | Executive |
| 07/2025 | 944 Tampines Avenue 5 | 1,572 | 1.189M | 756 | 1984 | Executive |
| 07/2025 | 856D Tampines Street 82 | 1,658 | 1.188M | 716 | 1995 | Executive |
| 04/2025 | 460 Tampines Street 42 | 1,787 | 1.17M | 654 | 1987 | 3Gen |
| 06/2025 | 941 Tampines Avenue 5 | 1,572 | 1.142M | 726 | 1984 | Executive |
| 06/2024 | 139 Tampines Street 11 | 2,045 | 1.14M | 557 | 1984 | Executive |
| 02/2025 | 858 Tampines Avenue 5 | 1,572 | 1.12M | 712 | 1987 | Executive |
| 10/2024 | 858 Tampines Avenue 5 | 1,572 | 1.119M | 711 | 1987 | Executive |
| 01/2025 | 156 Tampines Street 12 | 1,615 | 1.109M | 686 | 1984 | Executive |
Excluding one transaction of a 3Gen flat fetching S$1.17 million in April 2025, the latest data shows that Tampines’ priciest HDB resale transactions all originated from executive flats. There is a limited number of such units in Tampines. According to the latest HDB annual report, there are around 5,800 executive flats (including 3Gen), making up only around 7% of all HDB flats in Tampines.
There is a unique feature that sets executive flats apart from other HDB flats: An additional space usually located next to the living room, which can be converted into a balcony space, maid’s bedroom, or study area when partition walls are added.
Whether it’s creating designated workspaces, adding greenery, or simply having more room to entertain, executive HDB flats offer plenty of opportunities for creativity and adaptation. Not only do you get a spacious living area, but also the flexibility to expand and customise your living space.
With these upsides, no wonder that buyers are willing to pay a high price for executive flats. Additionally, basic economics would say limited supply means heightened demand. But these executive HDBs have lease commencements dating back to the 1980s, with units having less than 60 years left to their leases as of today.
Why pay high for a decaying lease?
Lease decay means resale prospects weaken over time, financing becomes harder, and CPF use is limited. Even if you intend to pass down the flat to your children, they likely can’t keep it if they already have a home. The short remaining lease may also make the flat hard to dispose of. So, why are people still going for these old leasehold developments now and are willing to pay a high price for them?
The answer might just be this simple: Ageing executive flats are for genuine homebuyers only. Those who make a conscious decision to prioritise lifestyle over returns. Those who are willing to pay more upfront for decades of comfort, knowing this may be the last home they ever need.
A regular HDB flat, even the newer 5-room units, won’t reach up to the level of space and comfort that executive flats can offer. So if you really need that much space, your only other alternative is to look in Singapore’s private property market.
Executive HDB flats vs. bigger private condo units in Tampines
As of August 2025, the average price of a private, resale non-landed property in Tampines is S$1,310 psf for bigger units exceeding 1,500 sqft. This is over 100% higher than the average price of executive HDB flats, which is currently at S$618 psf.
Going by this amount, a similar-sized, 1,582-sqft condo unit would cost about S$2 million. That is significantly higher than the amount paid for the record-breaking S$1.208 million HDB maisonette at 498J Tampines Street 45 this month.
Furthermore, a condo unit that matches the larger executive flats, such as the 2,045 sqft unit sold for S$1.14 million in June 2025 (see the transaction list above), would cost over S$2.6 million. That’s more than twice the price. In this context, you can see why some buyers would willingly pay S$1 million for a spacious executive flat, even if it’s a 30+ year-old HDB property.
Executive HDB price growth over the years
This trend is not exclusive to Tampines. Across Singapore, executive flats have mirrored the broader HDB resale market’s strong momentum. Since 2020, average HDB resale prices have surged by more than 48%, and executive flats, despite their advancing age and shorter leases, have still managed to climb about 45% in the same period.
For now, they continue to dominate the upper tier of the HDB resale market. The current national record for an executive flat is held by a Bishan maisonette sold for S$1.588 million earlier this month, with about 60 years of lease remaining. This comes close to the overall HDB resale record across all flat types: The S$1.658 million achieved in June 2025 for a newer 5-room loft unit at SkyTerrace @ Dawson.
Still, buyers shouldn’t mistake this price growth for a guaranteed investment path. As the stock of executive flats gets older, lease decay will become an unavoidable headwind. The day will come when their reign as million-dollar properties fades. And when that happens, the ones who will have truly benefited are those who bought for the home, not the asset.
There is, of course, the possibility that ageing HDB flats could be included in the Voluntary Early Redevelopment Scheme (VERS). If approved, the government would acquire the flats before their leases expire and compensate the owners.
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