Executive flat sold for $1.155m marks most expensive HDB resale in Woodlands to date

October's HDB resale flash report revealed a marginal growth in HDB resale prices, largely driven by rising prices for larger flat types like executive flats (EXEs). And true to this, the month saw a new all-time-high (ATH) for a Woodlands EXE at S$1.155 million. This sale marks the most expensive HDB resale in Woodlands to date.

The S$1.155m executive HDB resale in Woodlands

The recent ATH transaction involved a unit at Block 816, Woodlands Street 82, sitting between the 10th and 12th floors. With a size of 1,905 sqft, the unit's price translates to S$606 per square foot (psf). This project's lease began in 1994, with 69 years and three months remaining on its lease. That's quite reasonable considering executive flats are no longer in production and typically come with shorter leases.

However, what's interesting is that this exact block has made the all-time-high list twice over two years. So, what's special about this particular project? 

A closer look at Block 816, Woodlands Street 82

Block 816 is strategically located, offering a mix of convenience and future growth potential. It's a 13-minute drive from the Woodlands Immigration Checkpoint via the Bukit Timah Expressway, making it highly desirable for those who travel frequently between Johor and Singapore.

Additionally, the block is a 6-minute drive via North Coast Avenue to the upcoming Rapid Transit System (RTS) Link at Woodlands North MRT station, part of the Thomson-East Coast Line (TEL). The RTS Link, expected to open by the end of 2026 after some delays, will significantly enhance cross-border connectivity.

Adding to its appeal, the Woodlands North MRT station will be integrated into the upcoming Woodlands Regional Centre, a massive 100-hectare development set to include commercial, residential, and mixed-use industrial spaces. These planned enhancements could substantially raise the area's value for both investors and long-term residents.

For day-to-day convenience, Woodlands MRT Station (NS9/TE2), connected by the North-South and Thomson East Coast MRT interchange, is an 11-minute walk from Block 816. The station is located in the heart of Woodlands New Town and the bustling Woodlands Regional Centre. Causeway Point provides shopping and dining options for the residents and is located just a 3 to 5-minute drive.

Families with children will appreciate the abundance of nearby schools and childcare centres. Tertiary institutions such as Republic Polytechnic is located right across the street with just a 9-minutes walk away. Within walking distance, you'll find institutions catering to young learners and primary school-aged children. Primary school options within 1km include:

• Admiralty Primary School
• Evergreen Primary School
• Qihua Primary School
• Woodgrove Primary School
• Woodlands Primary School

For recreation, the Woodlands Park Connector is just a 7-minute walk, while Fu Shan Garden, featuring a dinosaur-themed playground and a scenic hilltop view, is a 3-minute stroll away. 

Recent trends in Woodlands reveal almost monthly million-dollar executive transactions 

Following this S$1.155 million sale, the next highest transaction, as mentioned earlier, was another EXE from the same Block 816, transacted in July last year. According to 99.co's Researcher, the unit is located somewhere between the 7th to 9th floor of the project with the same size of 1,905 sqft, it sold for S$1.15 million — only about S$5k lower than the latest record-breaker. The psf for this unit was S$603.

What's particularly striking here is the trend of monthly million-dollar EXE transactions in Woodlands, especially in the latter half of the year. While there were fewer high-value sales earlier in 2024, the pace has picked up significantly since July. This consistent growth suggests a rising demand for executive flats in Woodlands.

Here's a look at the million-dollar EXE sales in Woodlands so far this year:

Prices for EXEs in the area have increased 5.66 per cent over the past year, 11.53 per cent over the past three years, and a substantial 41.88 per cent over the past five years. This means that for someone who fulfilled their MOP in 2024 and sold their flat at the current average price, their returns could amount to nearly 50 per cent of the initial purchase price, depending on the exact market value at the time of purchase.

Despite the rising values, Woodlands executive flats are still attractive compared to other regions. The average resale price for EXEs in Woodlands is approximately S$870,227, making the recent S$1.155M sale about 32.72 per cent higher than the average. For buyers interested in more affordable options, around 21 units in Woodlands are currently listed below the S$870K mark, with the lowest priced at S$790K.

[[nid:711609]]