Singapore’s public housing market continues to surprise, with recent HDB resale ATH in Queenstown and Ang Mo Kio. These transactions, involving a rare Executive flat and a spacious 5-room unit, underscore the demand for well-located and larger HDB flats in the city-state.
Let’s take a closer look at what made these sales so remarkable.
Table of Contents
- Queenstown executive flat: A million-dollar maisonette
- Queenstown: Location overview
- Queenstown executive flat price trends
- Ang Mo Kio HDB resale ATH: 5-Room flat breaks the million-dollar barrier
- Ang Mo Kio: Location overview
- Ang Mo Kio 5-room flat price trends
- The broader picture: What these ATH sales tell us about the HDB market
- Our takeaway: Parc Clematis as a residential option
Queenstown executive flat: A million-dollar maisonette
Earlier in May, an executive maisonette located at Block 147 Mei Ling Street in Queenstown was sold for a staggering S$1.51 million, marking a new peak for executive flats in Singapore. This spacious apartment, completed in 1993 with 69 years of remaining lease period, offers a generous 1625.3 sqft of living space.
Situated on a mid-floor (4th to 6th storey) of an 8-storey block, this flat commands a premium due to its size, location, and the rarity of executive maisonettes in mature estates.
This sale is part of an exclusive group of HDB resale ATH transactions beyond S$1.5 million. In size, the Queenstown EXE is comparable to the EXE in Bukit Timah which created a regional record earlier, and is bigger than most ATH flats.
HDB resale ATH transactions beyond S$1.5 million
| Area | Street | Flat type | Floor | Area (sqft) | Lease left |
|---|---|---|---|---|---|
| Ang Mo Kio | Ang Mo Kio St 52 | 5RM | 19-21 | 1291 | 85 |
| Bukit Merah | Moh Guan Ter | 4RM | 4-6 | 1894 | 47 |
| Moh Guan Ter | 4RM | 4-6 | 1894 | 47 | |
| Henderson Rd | 5RM | 46-48 | 1216 | 93 | |
| Boon Tiong Rd | 5RM | 34-36 | 1205 | 90 | |
| Henderson Rd | 5RM | 40-42 | 1216 | 93 | |
| Kim Tian Rd | 5RM | 40-42 | 1216 | 87 | |
| Central Area | Cantonment Rd | 5RM | 37-39 | 1140 | 85 |
| Cantonment Rd | 4RM | 49-51 | 1011 | 85 | |
| Cantonment Rd | 5RM | 43-45 | 1140 | 85 | |
| Cantonment Rd | 5RM | 28-30 | 1130 | 85 | |
| Cantonment Rd | 5RM | 37-39 | 1151 | 85 | |
| Cantonment Rd | 5RM | 43-45 | 1130 | 85 | |
| Cantonment Rd | 5RM | 40-42 | 1140 | 85 | |
| Cantonment Rd | 5RM | 43-45 | 1151 | 85 | |
| Cantonment Rd | 5RM | 37-39 | 1140 | 85 | |
| Bishan | Bishan St 24 | 5RM | 22-24 | 1291 | 85 |
| Bishan St 24 | EXE | 22-24 | 1851 | 86 | |
| Bishan St 24 | 5RM | 31-33 | 1291 | 85 | |
| Bishan St 24 | 5RM | 28-30 | 1291 | 85 | |
| Bishan St 12 | EXE | 22-24 | 1754 | 61 | |
| Bishan St 24 | 5RM | 37-39 | 1291 | 85 | |
| Bukit Timah | Toh Yi Dr | EXE | 7-9 | 1657 | 62 |
| Kallang/Whampoa | Jin Ma’mor | 3RM | 1-3 | 3950 | 46 |
| Queenstown | Mei Ling St | EXE | 4-6 | 1571 | 69 |
| Dover Cres | 5RM | 37-39 | 1334 | 86 | |
| Toa Payoh | Lor 1A | 5RM | 31-33 | 1227 | 86 |
| Lor 1A | 5RM | 19-21 | 1250 | 86 | |
| Lor 1A | 5RM | 22-24 | 1250 | 86 | |
| Lor 1A | 5RM | 34-36 | 1250 | 86 | |
| Lor 1A | 5RM | 31-33 | 1250 | 86 | |
| Lor 1A | 5RM | 31-33 | 1227 | 86 | |
| Lor 1A | 5RM | 31-33 | 1250 | 86 | |
| Lor 1A | 5RM | 34-36 | 1227 | 86 | |
| Lor 1A | 5RM | 31-33 | 1250 | 86 |
Location overview
Queenstown has long been a highly desirable residential town in Singapore. One of the earliest housing estates, it boasts a wealth of established amenities and excellent connectivity.
Block 147 is conveniently connected to Queenstown MRT, which is a 3-minute walk via a sheltered walkway. This provides residents seamless access to the East–West Line, a major transport corridor that links directly to the Central Business District (CBD), Raffles Place, and other employment hubs.
The neighbourhood is anchored by a strong ecosystem of family-friendly amenities. Mei Chin Primary School is just a 3-minute walk (250m) from the block. Also nearby are other institutions like Queenstown Secondary School (5 minutes on foot) and Queensway Secondary School, which is a 7-minute drive away.
Daily needs are effortlessly met through the Mei Ling Market & Food Centre and various shops in the area, all within a 5-minute walk. For leisure, residents have access to green spaces such as Commonwealth Park for a peaceful retreat, or they can head to IKEA for home essentials, dining, and a casual shopping experience just a short stroll away.
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Queenstown executive flat price trends
EXE flats across the country have shown a huge 43.83% appreciation in the last 5 years. Queenstown alone has seen a 43.32% rise, highlighting this robust market. The willingness of buyers to pay a premium for these flats underscores the value they place on size and location within a mature estate like Queenstown.
Comparing EXEs in Queenstown with larger HDB flats (4- and 5-room), we see that EXE flats have appreciated at a higher rate than the larger HDB offerings.
Executive HDBs, as we know, are a discontinued flat type, meaning no new units are being built. Their supply is inherently limited and will continue to diminish over time due to Selective En Bloc Redevelopment Scheme (SERS) or other urban renewal initiatives.
This fixed and dwindling supply, coupled with sustained demand, naturally creates a scarcity premium, driving up prices at an accelerated rate compared to other HDB types. EXE flats are highly sought after by multi-generational families or those requiring more dedicated spaces for work or leisure.
For a segment of upgraders, Executive HDBs offer an attractive middle ground between standard HDBs and private condominiums, providing ample space at a relatively more affordable price point than equivalent private properties.
Ang Mo Kio HDB resale ATH: 5-Room flat breaks the million-dollar barrier
Also in May, a 5-room Design, Build and Sell Scheme (DBSS) HDB flat at Block 588B Ang Mo Kio Street 52 was sold for S$1.5 million.
This high-floor unit (19th to 21st storey) in Park Central@AMK, completed in 2011, offers 1,291.67 sqft of living space, with 85 years of lease left. This sale marks a significant milestone for 5-room flats in Ang Mo Kio.
Location overview
Ang Mo Kio, designated as a regional centre, offers a comprehensive range of amenities and excellent connectivity.
Residents enjoy superb connectivity, with Ang Mo Kio MRT station (North-South Line) just a convenient 6 to 7-minute walk away. This station is also slated to become an interchange for the upcoming Cross Island Line, promising even greater accessibility in the future.
The area surrounding Ang Mo Kio Street 52 is a vibrant hub of amenities. Families benefit from the close proximity to schools such as Jing Shan Primary School (90m away) along with Teck Ghee Primary (1.6km), Mayflower Primary (2.4km), and Anderson Secondary (500m).
For retail therapy and daily necessities, the popular AMK Hub is within a short 5-minute walk, complemented by Jubilee Square and Djitsun Mall. The presence of major supermarkets nearby like GIANT and FairPrice further enhances daily convenience.
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Ang Mo Kio 5-room flat price trends
The real estate data for Ang Mo Kio 5-room flats shows a consistent upward trajectory. In the last 5 years, Ang Mo Kio has seen a 39.11% increase in 5-room HDB flat prices, which is comparable to the 41.42% increase seen across Singapore.
DBSS flats like the one sold at Block 588B often command higher prices due to their more contemporary design and additional features compared to standard HDB flats.
In January 2024, a 5-room flat at The Peak@Toa Payoh sold for S$1.56 million, marking one of the highest prices for a DBSS flat. Also, a 5-room unit at Natura Loft@Bishan changed hands for S$1.5 million in June 2024, setting a record for the Bishan area.
DBSS flats have seen significant price growth over the past five years. Their limited supply, mature estate locations, and larger layouts have contributed to consistent demand in the resale market. Below is a table highlighting average resale prices for various DBSS projects from 2020 to 2025, ranked by appreciation rate:
| DBSS Project | Avg. price in 2020 | Avg. price in 2025 | Appreciation (%) |
|---|---|---|---|
| Natura Loft @ Bishan | S$978K | S$1.445M | +48% |
| Park Central @ Ang Mo Kio | S$804K | S$1.172M | +46% |
| Centrale 8 @ Tampines | S$591K | S$860K | +46% |
| Pasir Ris One @ Pasir Ris | S$613K | S$902K | +47% |
| The Peak @ Toa Payoh | S$884K | S$1.214M | +37% |
| City View @ Boon Keng | S$879K | S$1.172M | +33% |
| The Premiere @ Tampines | S$749K | S$950K | +27% |
| Parc Lumiere @ Simei | S$701K | S$876K | +25% |
| Belvia @ Bedok | S$688K | S$840K | +22% |
| Trivelis @ Clementi | S$717K | S$875K | +22% |
| Parkland Residences @ Hougang | S$647K | S$773K | +19% |
The broader picture: What these ATH sales tell us about the HDB market
At its core, the phenomenon of million-dollar HDB resale ATH is primarily driven by scarcity and demand. Larger HDB flat types, such as Executive Maisonettes and spacious 5-room units, are a finite resource, especially in mature estates where land is at a premium and new large HDBs are less frequently built. This inherent scarcity naturally drives up their value.
The Queenstown flat (completed in 1993) sale also emphasises the importance of location over lease decay for certain properties.
Homebuyers are increasingly discerning, willing to pay a premium for units that offer superior attributes: be it a high floor with unblocked views, a desirable layout, or better finishes (as seen with the DBSS flat in Ang Mo Kio).
Furthermore, the escalating prices in the private new launch condominium market, with average PSFs reaching S$2,200+ (as of mid-2024), is inadvertently funnelling demand back into the HDB resale market.
For many HDB upgraders, who have accumulated significant equity in their existing flats, the HDB resale market offers a more palatable entry point for larger, well-located homes without the hefty price tag of new private developments.
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