Welcome to 941 Tampines Avenue 5, where an Executive Maisonette flat exchanged hands for S$1,141,888 just a few days ago. This is a new record for Executive Maisonette flats in Tampines and the second highest HDB resale in the town’s history.
Let’s dive deep into the details.
Table of Contents
- The property: 941 Tampines Avenue 5
- Why the premium?
- Real estate trends in Tampines
- What you should know if you’re buying a home in Tampines
The property: 941 Tampines Avenue 5
The Executive Maisonette flat at Block 941, Tampines Palmsville, has a two-storey layout and generous floor area of 1572 square feet (146 square metres). It offers a spacious living experience; a significant draw for larger families or those prioritising ample space.
Completed in 1988, the flat is approximately 37 years old, with about 62 years left on the lease. Its appeal stems from a combination of its size, floor level (10-12 storey), and its prime location.
The flat is 17 minutes’ walk from Tampines Central, offering unparalleled access to Tampines West (DT31), and Tampines (DT32/EW2) MRT stations. Several bus stops, including Block 938, Block 147, opposite Our Tampines Hub, and St. Hilda’s Secondary School, are conveniently located within a short walking distance.
There is a playground right next to the block, and the 36.5 hectare Tampines Eco Green is 2.8km away; perfect for a weekend outing.
Families have multiple options for schooling, ranging from primary schools such as Junyuan Primary School (181m), MOE Kindergarten @ Junyuan (242m), Tampines Primary School (900m), and St. Hilda’s Primary School (1.1 km).
There are also multiple secondary schools nearby including Tampines Secondary School (around 390m), St. Hilda’s Secondary School (around 470m), and Junyuan Secondary School (around 910m).
Residents at Tampines Palmsville also enjoy proximity to major retail and lifestyle hubs like Tampines 1, Safra Tampines, Our Tampines Hub (Singapore’s largest integrated community and lifestyle hub), Century Square, and Tampines Mall.
The area also boasts a variety of neighbourhood food options such as coffeeshops, Tampines Round Market and Food Centre and the hawker centre at Our Tampines Hub. 24-hour supermarkets are also available at Tampines Hub and the Round Market.
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Why the premium?
Block 941, Tampines Palmsville, is a great location, but the million dollar price is not just for the address! The HDB resale market in Singapore has seen intensified competition, particularly for larger units in mature estates. The number of million-dollar flats sold across Singapore surged to 1,035 in 2024, doubling from 2023. This reflects strong buyer confidence and a willingness to pay higher prices for prime HDB properties.
The EXE flat in Block 941 is 1572 sqft in size. Looking at the transaction data for similar sized flats in the building, we have:
Historical resale transactions for Block 941 Tampines Avenue 5 (2021-2025)
| Date | Floor Range | Price (S$) | PSF (S$/sqft) | Flat Type/Size (sqft) |
|---|---|---|---|---|
| Jun 2025 | 10-12 | 1,141,888 | 726 | EXE / 1572 |
| May 2025 | 4-6 | 1,028,000 | 654 | 3-room / 1572 |
| Mar 2025 | 4-6 | 1,050,000 | 669 | 3-room / 1572 |
| Dec 2023 | 7-9 | 980,000 | 624 | 3-room / 1572 |
| Nov 2023 | 1-3 | 850,000 | 541 | 3-room / 1572 |
| Jun 2023 | 7-9 | 950,000 | 574 | 3-room / 1658 |
| Feb 2023 | 7-9 | 925,000 | 589 | 3-room / 1572 |
| Jul 2022 | 10-12 | 900,000 | 573 | 3-room / 1572 |
| Sep 2021 | 1-3 | 755,000 | 481 | 3-room / 1572 |
| Aug 2021 | 4-6 | 768,000 | 489 | 3-room / 1572 |
| Mar 2021 | 4-6 | 758,000 | 483 | 3-room / 1572 |
The data for Block 941 clearly shows an accelerating rate of price appreciation, especially from 2022 onwards. The jump from S$900,000 in July 2022 (similar size and floor level) to S$1,141,888 in June 2025 represents a substantial 26.9% increase in less than three years.
Executive flat prices alone rose by 6.2% between June 2023-2024. This rapid growth suggests that broader market forces, including a persistent supply crunch and robust demand for larger properties in mature estates, have driven up prices for well-located, spacious units in desirable towns like Tampines.
Real estate trends in the Tampines
Tampines, as Singapore’s first designated regional centre in the East, has consistently maintained a robust and dynamic real estate market. Its established infrastructure and comprehensive amenities have made it a highly preferred residential choice for many years.
Tampines consistently ranks among the most active HDB towns in terms of transaction volume. In 2024, it was among the top five most popular HDB towns, accounting for approximately 35.9% of all HDB resales in Singapore. Specifically, Tampines recorded 1,961 units transacted in 2024, placing it fifth in overall volume.
Average resale price trend for Tampines HDB flats
| HDB Room Type | Median Resale Price (S$) |
|---|---|
| HDB 3 Rooms | 490,000 |
| HDB 4 Rooms | 685,000 |
| HDB 5 Rooms | 813,444 |
| HDB Executive | 971,944 |
This table clearly shows that Executive flats in Tampines command the highest prices, with average prices nearing S$1 million. Even smaller units have seen significant appreciation, indicating broad-based price increases driven by strong demand.
What you should know if you’re buying a home in Tampines
Tampines has seen a notable surge in million-dollar HDB transactions. In 2024, the town experienced a remarkable increase, jumping from just two units in 2023 to 21 units as of November 2024, a staggering 950% year-on-year increase. This places Tampines among the towns with a significant number of high-value transactions, reflecting its growing desirability and the overall upward trend in the HDB resale market.
The future of Tampines’ real estate market is set to be shaped by ongoing urban development plans, evolving supply-demand dynamics, and broader economic factors. The Cross Island Line (CRL) will significantly improve connectivity, shortening commute times. Properties near MRT stations typically see a price premium of 5% to 15%, and the CRL’s extensive reach suggests an even more significant impact.
The URA Master Plan 2019 had announced approximately 8,000 new homes to be built in Tampines South over the next 10-15 years, integrated with community facilities and parks. Mixed-use developments, combining residential, commercial, and recreational spaces, are also encouraged, with properties in these areas expected to command higher prices.
Tampines will continue to benefit from major developments in adjacent Changi, such as the Changi Airport expansion (including Terminal 5) and the growth of Changi City, creating more job opportunities and sustaining housing demand.
While 2025 sees low MOP supply (around 8,000 flats), this is projected to increase to 13,500 in 2026 and 19,500 in 2028. This anticipated increase is expected to alleviate some pressure on resale prices, particularly for flats in mature estates, including Tampines. HDB also plans to launch over 50,000 BTO flats from 2025–2027, with 19,600 slated for 2025 alone. This increased primary market supply aims to absorb some demand from the resale market, potentially moderating price growth.
The demand for million-dollar HDB flats is, however, expected to remain strong, with projections indicating over 1,000 such transactions again in 2025. As a mature town and regional centre, Tampines is expected to exhibit strong price support. Its comprehensive amenities, excellent connectivity (especially with the CRL), and ongoing urban rejuvenation initiatives will continue to drive its property values and attract both buyers and investors.
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