Hougang executive maisonette for sale from $635,000

By
/ EdgeProp
|
June 1, 2019 11:00 AM SGT
A 1,593 sq ft, two-storey executive maisonette (EM) will be offered at PropNex Realty’s HDB auction with a guide price from $635,000 ($397 psf) on June 7. The unit is located at Block 712 Hougang Avenue 2 and occupies the fourth and fifth floors. This is an owner’s sale. This is the second time the unit is up for auction.
“Compared to nearby maisonettes in the central Hougang and Kovan areas, the guide price of $635,000 to $650,000 is very attractive. On average, EMs in these locations usually command above $800,000,” says Linda Foo, associate marketing director at PropNex Realty. The unit is jointly marketed by Foo and her colleague Jax Chua, associate marketing manager.
The unit, at Hougang Ave 2, has a guide price of $635,000 to $650,000 (Picture: EdgeProp Singapore)
According to HDB data, the most recent transaction at Block 712 was a 1,593 sq ft, 10th-storey EM sold for $675,000 ($424 psf) last June. This followed a 1,657 sq ft, seventh-floor EM sold for $650,000 ($392 psf) in March 2018.
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The unit under auction has a 99-year tenure which started in 1986, and the property has about 66 years left on its lease. The unit has three bedrooms and two bathrooms on the top floor, as well as a utility room on the lower floor.
HDB maisonette units usually have the bedrooms on the top floor, while the living room, dining area and kitchen are on the bottom floor. Some units, like the one on offer, also come with a balcony with a double volume ceiling. HDB discontinued EMs in 1995 after it introduced executive condominiums.
A family of four would find this type of unit a welcome change compared to other HDB units today which are mostly single-level, says Chua. “EMs remain one of the larger public housing buyers can find in Singapore. With the space constraints of new BTOs, the living area that maisonettes provide is one of the largest draws for buyers.”
Bedrooms are on the top floor, while living spaces are on the bottom floor (Picture: PropNex Realty)
The unit belongs to a local Chinese family who have been living there for about 11 years. They have decided to sell the house to live closer to their elderly parents, says Foo.
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The unit is located near Hougang MRT Station and is a 15-minute walk to Heartland Mall and Kovan MRT Station, which is one station from NEX mall in Serangoon. The estate has a mix of flats, landed housing, and new private developments. Just beside the block is The Florence Residences launched by Logan Property on March 2. “As a result of the recent new launch, many buyers who are interested in this area have also come down to view the unit,” says Chua.
This will be the third public auction for HDB properties by PropNex, which rolled out the service in April this year. “Buyers have the option to buy on the pre-auction day, auction day itself and post-auction day. As long as sellers and buyers agree on the price, a deal can be struck,” says Foo.