Earlier this month, an executive HDB flat at 221 Hougang Street 21 was sold for $1.45 million ($910 psf), marking the first time that such flats in Hougang have crossed the $1.3 million threshold. The lease of the subject flat, located on the fourth to sixth storeys, commenced in 1992, leaving it with a remaining lease of approximately 66 years.

The record-high price fetched by the subject flat could be because it is a maisonette measuring a spacious 1,593 sq ft. A typical maisonette is a two-storey HDB flat that features three bedrooms on the upper level, as well as a living/dining area and a kitchen on the lower level.

Additionally, the subject flat is within walking distance of Kovan MRT Station, Heartland Mall Kovan, Kovan Hougang Market and Food Centre, and Kovan Sports Centre (see Map 1). Schools within a 1 km radius include Xinghua Primary School, Paya Lebar Methodist Girls’ School (Primary and Secondary), and Yuying Secondary School.

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The recent transaction surpassed the previous record high of $1.28 million ($820 psf), achieved in June by an executive flat at 522 Hougang Avenue 6 (see Table 1). Located on the 13th to 15th storeys, the 1,561-sq ft flat has a remaining lease of approximately 61 years.

Despite its shorter remaining lease, the flat along Hougang Avenue 6 managed to fetch a high price because of its close proximity to Hougang MRT Station, Hougang Mall and Kang Kar Mall. Additionally, Montfort Junior School and Montfort Secondary School are a short walk away (see Map 2).

Other schools within a 1 km radius include CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Punggol Primary School, Yio Chu Kang Primary School, Holy Innocents’ High School, and Xinmin Secondary School.

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