A Serangoon Executive Flat Just Sold For A Record $1,270,000 — By The Slimmest Of Margins

The sale of an Executive flat at 232A Serangoon Avenue 2 has set a record resale price for a flat of this type in Serangoon. The 1,507 sq ft unit, between the 10th and 12th floors, changed hands for $1.27 million ($843 psf) when it was sold last week.

This edges past the previous town record for a resale Executive flat by just $2,000. The previous price high for a resale executive flat in that town involved a unit at 318 Serangoon Avenue 2. That 1,604 sq ft flat, a Maisonette unit which is between the fourth and sixth floors, was sold for $1.268 million ($791 psf) in April 2025.

Despite the wafer-thin price difference, the new record is notable for several reasons.

The record-setting unit at 232A is smaller than the previous record-holder, yet was able to command a higher $psf price of $843 psf versus $791 psf. Moreover, the record-setting Executive flat carries a meaningfully longer remaining lease, which likely gave buyers greater confidence in stretching their budget.

The block at 232A Serangoon Avenue 2 was completed in 1997, making it about 29 years old with approximately 70 years left on its lease. Meanwhile, the previous record holder at 318 Serangoon Avenue 2 had about 59 years left on its lease when the unit was sold over two years ago.

As with most record-breaking HDB deals that Stacked has reported on over this past year, lease length is a factor that buyers weigh carefully especially when a million-dollar deal is on the line.

This latest case also indicates that a flat with 70 years left on its lease could sit comfortably above the price threshold that can affect loan quantum and buyer eligibility, making it a more straightforward purchase for most buyers compared to a flat with a shorter lease.

It is also worth noting that 232A has now produced two of the top transactions in the Serangoon Executive flat market within a short span of time. In April 2026, a slightly larger 1,518 sq ft unit in the same block, also on the 10th to 12th floor, changed hands for $1.13 million ($744 psf).

The jump to the subsequent price high of $1,270,000 just three months later, for a comparable unit in the same height, represents a $140,000 increase in the price ceiling over a very short window.

To put the record sale in context, here are the top five most expensive Executive flat resale transactions in Serangoon.

Top 5 Highest Executive Flat Transactions in Serangoon

Based on these transactions compiled by Stacked, a pattern emerges. Four of the top Executive flat transactions in Serangoon have involved units that are located in blocks along Serangoon Avenue 2, which suggests that this stretch of the town commands a particularly strong premium within the Executive flat segment.

The remaining top transaction, for a flat at Serangoon North Avenue 4, carried a longer remaining lease of 65 years and 8 months. This likely helped it reach the $1.24 million mark despite being in a different part of Serangoon.

If we analyse the list of recent transactions for Executive flats in Serangoon, the data suggest that a possible two-tier dynamic might be emerging. Units along Serangoon Avenue 2, particularly those at 232A, are transacting at a clear premium over similar type units elsewhere in the town.

The gap between the record $1.27 million transaction and the next most recent transaction at $1.025 million is a substantial $245,000.

Units in Serangoon North Avenue 1 and Serangoon North Avenue 4, while also sizable, tend to carry shorter remaining leases in the range of 58 to 66 years, and this factor appears to be creating a price ceiling on their resale prices relative to the Serangoon Avenue 2 blocks.

Most Recent Executive Flat Transactions in Serangoon

It is also useful to look at what else has transacted along Serangoon Avenue 2 since this gives a fuller picture of pricing activity in the immediate area. The data indicates that the contrast between 232A and the other blocks along Serangoon Avenue 2 is striking.

Most of the other blocks on this street are transacting in the $560,000 – $790,000 range, reflecting their shorter remaining leases of approximately 58 years and their smaller flat types.

The Executive flat at 232A sits in an entirely different price bracket, underscoring just how much the combination of flat type, size, and lease tenure can move the needle on resale prices along the same street.

The 12-month median resale price for Executive flats across Serangoon is $1,050,000, based on 45 transactions lodged during that time period. The transaction prices range from $888,000 to the new record of $1,270,000 – with the average price of $1.071 million.

The record-setting deal at $1,270,000 is $220,000 above the median price for Executie flats in Serangoon, a meaningful gap that requires some explanation beyond the unit’s intrinsic attributes.

Recent Transactions on Serangoon Avenue 2 (All Flat Types)

The most straightforward explanation we can consider lies in the lease. With about 70 years left on its tenure, the unit at 232A Serangoon Avenue 2 has one of the longest remaining leases among Executive flats currently trading in Serangoon. Many of the other Executive flat transactions in the town involve units with remaining leases in the 58–66 year range.

For a buyer taking a bank loan, the difference between a 58-year and a 71-year lease can directly affect the maximum loan tenure available, which in turn affects monthly repayment amounts and overall affordability. A longer lease removes one potential friction point in the transaction.

The block’s size also matters. With only 90 units across 16 floors, 232A is not a high-volume block. Fewer units means fewer competing sellers at any given time, which can support firmer asking prices when a motivated buyer enters the picture.

The locational attributes of Serangoon as a residential town are generally well-regarded, and the Serangoon Avenue 2 corridor in particular has consistently produced the highest Executive flat prices in the town over the past two years.

The HDB flats in this neighbourhood are close to two MRT stations – Lorong Chuan on the Circle Line (CC) and Serangoon Interchange on the CC and North-East Lines. There are also several schools in the area, such as CHIJ Our Lady of Good Counsel, St Gabriel’s Primary School, Yangzheng Primary School, and Zhonghua Primary School – which are all within 1km of the record-setting Executive flat.

Other schools in the vicinity include First Toa Payoh Primary School, Kuo Chuan Presbyterian Primary School, Maris Stella High School, and Paya Lebar Methodist Girls School.

Overall, resale prices of Executive flats in Serangoon have been on a gradual upward trajectory in recent years. Between the $1.23 million deal at 418 Serangoon Central in June 2024 and the current record of $1.27 million in July 2026, the price ceiling for this flat type in the town has risen by $40,000 over two years.

This comes amid the fact that individual transactions have clustered around the $1.23 million to $1.27 million range among the most expensive deals recorded so far.