Table of contents:
- About Serangoon
- About Block 236A Serangoon Ave 2
- Focus on the ATH transaction
- Comparative analysis between nearby blocks
- Analysis and insights
- Conclusion
An HDB executive flat at Block 236A Serangoon Ave 2 has achieved a record-setting price of S$1.24M for the Serangoon estate.
This article will examine the details of this transaction, analyse the significance of Serangoon as a residential hub, and conduct a comparative analysis with nearby blocks to understand the broader market trends.
About Serangoon
Serangoon is a residential town located in the North-East region of Singapore. It is recognised for its vibrant community and comprehensive amenities, offering residents a mix of modern conveniences and cultural heritage.
The area features the NEX shopping mall, dining options in Serangoon Gardens, and convenient connectivity through the Serangoon MRT interchange station, serving both the Northeast and Circle Lines. The town has developed over the years, balancing its charm with the needs of its growing population.
Let’s first take a look at the overall transactions of HDB units throughout Serangoon:
The average resale prices have shown a notable upward trend, with a significant 79.51% increase. In 2024, the average price reached S$666,801, the highest in the observed period, despite a slight dip in transaction volume to 241.
About Block 236A Serangoon Ave 2
Block 236A, situated on Serangoon Ave 2, is a notable residential block recognised as Chuan Estate. The location provides convenient access to schools, parks, and public transport. The block consists of several executive flats, known for their spacious layouts and high-rise views.
It is located within minutes of both Lorong Chuan and Serangoon MRT. Families with children will appreciate its proximity to several schools, including Yangzheng Primary School, Zhonghua Secondary School, Paya Lebar Methodist Girls’ Primary School, and Nanyang Junior College.
Read this: Wise move? 35-year-old maisonette in 418 Serangoon Central sold for S$1.23M
The location offers convenient access to essential services and recreational facilities, making it a desirable address within Serangoon.
Focus on the All-Time High (ATH) transaction
The ATH transaction at Block 236A Serangoon Ave 2 involves an executive flat between the 16th and 18th floors with a floor area spanning 1,507 sqft, translating to S$821 psf. The flat was sold for S$1,238,000, setting a new record for Serangoon and reflecting the increasing premium placed on executive flats in high-rise buildings.
The resale price of S$1,238,000 is noteworthy as it exceeds all prior resale transactions within the Serangoon HDB town, although it is lower than the national all-time high of S$1,588,000. This suggests a notable demand for larger HDB units with spacious living areas and higher floor advantages, which are increasingly desired in the resale market.
Below, we’ve drafted a couple of graphs to illustrate the transaction trends better, starting with EXE transactions across Serangoon:
The data indicates a significant upward trend in average resale prices, with a substantial 97.86% increase over this period. In 2024, the average price reached S$1,012,405, surpassing the S$1 million mark. Despite a lower transaction volume of 31 units, the sharp rise in average prices reflects the high demand and limited supply of executive flats in Serangoon.
Next, we take a look at the overall transactions of Block 236A Serangoon Ave 2:
The average prices have increased by 87.58%, reaching a record S$1,238,000 in 2024. This rise indicates a substantial appreciation of this block’s flats’ value. However, the transaction volume remains low, with only one recorded transaction in 2024. The significant price increase, coupled with low sales volume, reflects the growing demand and limited availability of high-value properties in this specific block.
Comparative analysis between nearby blocks
To paint an even clearer picture of the transaction trends, we drafted a graph comparing transactions of Block 236A and its surrounding neighbours:
In 2024, Block 236A experienced the highest increase in average resale prices at 87.58%, reaching S$1,238,000. Following this, Block 234A showed a 67.24% increase, whereas Blocks 236 and 237 had more moderate increases of 71.85% and 38.82%, respectively.
The volume of transactions varied, with fluctuations observed across all blocks. The data suggests that Block 236A has become particularly desirable, with significant price appreciation compared to its neighbours, highlighting its premium status in the Serangoon area.
Analysis and insights
The HDB resale market in Serangoon is experiencing a significant increase in property values, particularly for executive flats. Recently, an executive flat at Block 236A Serangoon Ave 2 was sold for S$1,238,000, indicating a growing demand for larger, high-rise units with spacious layouts.
This trend reflects a broader appreciation in property values in the Serangoon area, with average resale prices increasing by 79.51% overall and a substantial 97.86% increase specifically for executive flats. Transaction volumes suggest a limited supply, further contributing to the increase in property values in the area.
Read this: First S$1.2M HDB in Serangoon – is this the new norm?
The comparative analysis of Block 236A with its neighbouring blocks shows that Block 236A has experienced a significant increase in average resale prices, outpacing nearby blocks such as 234A, 236, and 237. This substantial price appreciation, combined with low transaction volumes, indicates a strong demand and limited availability of high-value properties at Block 236A.
The data suggests that factors such as location, access to amenities, and the appeal of executive flats contribute to Block 236A’s elevated market status, making it a sought-after address in the Serangoon area.
Conclusion
The recent resale transaction at Block 236A Serangoon Ave 2 has set a new record in the HDB resale market, particularly for the Serangoon area. This transaction highlights the appeal of executive flats in well-situated locations and offers insights into current market trends and buyer preferences.
As the HDB resale market continues to develop, transactions of this nature will likely significantly impact the future residential property landscape in Singapore.
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