The record price for a resale four-room HDB flat in Punggol has been set by a unit at Northshore Straitsview, a Build-To-Order (BTO) development in Punggol. The 1,033 sq ft unit, between the 25th - 27th floors, changed hands for $870,000 ($842 psf) when it was sold earlier this week.
This sale trumps the previous record of $848,000 ($838 psf) which saw the transaction a 1,011 sq ft flat at Punggol Residences in November 2025. That 769-unit BTO development was completed in 2012, and is next to Punggol MRT station on the North-East Line (NEL).
On the other hand, the 1,021-unit Northshore Straitsview was launched as part of the November 2015 BTO sales exercise. It is one of a handful of new BTO projects along Punggol’s Northshore Drive, with some units enjoying an unblocked waterfront view.
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Some of the BTO developments along Northshore Drive include the 791-unit Waterfront I @ Northshore, the 903-unit Waterfront II @ Northshore, the 588-unit Northshore Residences I, the 814-unit Northshore Residences II, the 801-unit Northshore Cove, as well as Northshore Straitsview.
Check out this article for our walkthrough of Waterfront II @ Northshore.
The BTO developments along this waterfront corridor have been on our radar for some time now. In June last year, we took a look at why the BTO flats in that cluster may be the next buying hotspot in Punggol.
Anticipating the strong resale demand that these BTO developments will attract once the flats there complete their Minimum Occupation Period (MOP), we covered what sellers and buyers needed to keep in mind when house-hunting in that BTO cluster.
Northshore Straitsview comprises seven residential blocks that are a mix of eight, 12, 18, and 26-stories tall. The unit mix consists of two-room flexi, and three- to five-room flats that range from 408 - 1,248 sq ft.
When we reviewed the projects in this area, their distance from nearby MRT stations was one of the first things we picked up on. From Northshore Straitsview, the closest is Punggol Point on the Sengkang-Punggol LRT.
According to HDB resale data, transactions at Northshore Straitsview have only just started picking up, as more flats there complete their MOP and become eligible for sale on the resale market.
The record-setting resale four-room flat is the third resale transaction in its block - 421B Northshore Drive. Other transactions in that block all took place this month and were:
- A 408 sq ft, two-room flat that changed hands for $356,000 ($872 psf)
- A 505 sq ft, two-room flat that fetched $455,000 ($901 psf)
Some of the other blocks at Northshore Straitsview have recorded more resale transactions, likely because the owners there got hold of their keys earlier and completed their unit’s MOP a few months ahead of other blocks.
Specifically at 422A Northshore Drive, prices for some five-room flats have already crossed the $1 million threshold. The most expensive resale five-room at that block is a 1,248 sq ft unit on the 16th - 18th floors that transacted for $1.1 million ($881 psf) when it was sold earlier this month. Meanwhile, the most expensive four-room flat there was a 1,001 sq ft unit on the 16th - 18th floors that fetched $848,000 ($847 psf) when it was sold in April this year.
Over at block 422B Northshore Drive, the very first resale transaction lodged there is the sale of a 1,215 sq ft five-room flat that was sold for $1.01 million ($831 psf) in a sale that also closed earlier this month.
In our view, it would be fair to expect resale prices at Northshore Straitsview to continue climbing over the next few months, especially as more flats there enter the resale market and find a willing buyer.
The transactions that have been recorded so far also suggest that some buyers are willing to fork out relatively big-bucks for a relatively newly completed BTO project with waterfront views, despite this estate’s distance from the hub of community facilities and retail amenities at Punggol Central.
However, it’s also important to keep in mind that there is a relatively large incoming supply of eligible resale flats in this part of Punggol, and the abundance of choice presented to prospective buyers may put a cap on rising resale prices.
The next BTO development there that will see its units enter the resale market is the neighbouring Northshore Cove. The 801-unit BTO project was launched as part of the February 2017 BTO sales exercise, and was completed in September 2021. This means that some of its two- to five-room flats would fulfil their MOP by the end of this year.
Sellers also have to contend with rising replacement costs, especially if they have an eye towards upgrading. One of the most direct routes for HDB upgraders is the executive condo (EC) market, but changes to the EC scheme and buoyant sentiment among hopeful EC buyers has created a ‘perfect storm’ in this housing segment.
Our coverage here explains what the stricter EC ownership rules are, and this article explains why the usual upgrader path is not as straightforward anymore.
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