{"id":76367,"date":"2024-07-09T18:37:21","date_gmt":"2024-07-09T10:37:21","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=76367"},"modified":"2024-07-10T11:21:58","modified_gmt":"2024-07-10T03:21:58","slug":"236a-serangoon-ave-2-ath","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/236a-serangoon-ave-2-ath\/","title":{"rendered":"An HDB Executive unit fetched a new ATH with a record-breaking sale of S$1,238,000, the highest in Serangoon"},"content":{"rendered":"
<\/div>\r\n

Table of contents:<\/h2>\r\n\r\n\r\n\r\n
    \r\n
  1. About Serangoon<\/a><\/li>\r\n\r\n\r\n\r\n
  2. About Block 236A Serangoon Ave 2<\/a><\/li>\r\n\r\n\r\n\r\n
  3. Focus on the ATH transaction<\/a><\/li>\r\n\r\n\r\n\r\n
  4. Comparative analysis between nearby blocks<\/a><\/li>\r\n\r\n\r\n\r\n
  5. Analysis and insights<\/a><\/li>\r\n\r\n\r\n\r\n
  6. Conclusion<\/a><\/li>\r\n<\/ol>\r\n\r\n\r\n
    \r\n\r\n\r\n

    An HDB executive flat at Block 236A Serangoon Ave 2<\/a> has achieved a record-setting price of S$1.24M for the Serangoon estate<\/a>.<\/p>\r\n

    This article will examine the details of this transaction, analyse the significance of Serangoon as a residential hub, and conduct a comparative analysis with nearby blocks to understand the broader market trends.<\/p>\r\n\r\n\r\n

    \r\n\r\n\r\n

    About Serangoon<\/h2>\r\n\r\n\r\n\r\n
    \"236a\r\n
    Serangoon Viaduct. Image credit: CC BY-SA 3.0.<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n

    Serangoon is a residential town located in the North-East region of Singapore<\/a>. It is recognised for its vibrant community and comprehensive amenities, offering residents a mix of modern conveniences and cultural heritage.<\/p>\r\n\r\n\r\n\r\n

    The area features the NEX shopping mall, dining options in Serangoon Gardens, and convenient connectivity through the Serangoon MRT interchange station, serving both the Northeast and Circle Lines. The town has developed over the years, balancing its charm with the needs of its growing population.<\/p>\r\n\r\n\r\n\r\n

    Let’s first take a look at the overall transactions of HDB units throughout Serangoon:<\/p>\r\n\r\n\r\n\r\n

    \"236a<\/figure>\r\n\r\n\r\n\r\n

    The average resale prices have shown a notable upward trend, with a significant 79.51% increase. In 2024, the average price reached S$666,801, the highest in the observed period, despite a slight dip in transaction volume to 241.<\/p>\r\n\r\n\r\n

    \r\n\r\n\r\n

    About Block 236A Serangoon Ave 2<\/h2>\r\n\r\n\r\n\r\n
    \"236a\r\n
    Entry point of Chuan Estate, home of Block 236A. Image credit: Google Maps.<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n

    Block 236A, situated on Serangoon Ave 2, is a notable residential block recognised as Chuan Estate. The location provides convenient access to schools, parks, and public transport. The block consists of several executive flats, known for their spacious layouts and high-rise views.<\/p>\r\n

    It is located within minutes of both Lorong Chuan and Serangoon MRT. Families with children will appreciate its proximity to several schools, including Yangzheng Primary School, Zhonghua Secondary School, Paya Lebar Methodist Girls\u2019 Primary School, and Nanyang Junior College.<\/p>\r\n\r\n\r\n

    Read this: Wise move? 35-year-old maisonette in 418 Serangoon Central sold for S$1.23M<\/a><\/i><\/p>\n\r\n\r\n\r\n

    The location offers convenient access to essential services and recreational facilities, making it a desirable address within Serangoon.<\/p>\r\n\r\n\r\n

    \r\n\r\n\r\n

    Focus on the All-Time High (ATH) transaction<\/h2>\r\n\r\n\r\n\r\n

    The ATH transaction at Block 236A Serangoon Ave 2 involves an executive flat between the 16th and 18th floors with a floor area spanning 1,507 sqft, translating to S$821 psf. The flat was sold for S$1,238,000, setting a new record for Serangoon and reflecting the increasing premium placed on executive flats in high-rise buildings.<\/p>\r\n\r\n\r\n\r\n

    The resale price of S$1,238,000 is noteworthy as it exceeds all prior resale transactions within the Serangoon HDB town<\/a>, although it is lower than the national all-time high of S$1,588,000. This suggests a notable demand for larger HDB units with spacious living areas and higher floor advantages, which are increasingly desired in the resale market.<\/p>\r\n\r\n\r\n\r\n

    Below, we’ve drafted a couple of graphs to illustrate the transaction trends better, starting with EXE transactions across Serangoon:<\/p>\r\n\r\n\r\n\r\n

    \"236a<\/figure>\r\n\r\n\r\n\r\n

    The data indicates a significant upward trend in average resale prices, with a substantial 97.86% increase over this period. In 2024, the average price reached S$1,012,405, surpassing the S$1 million mark. Despite a lower transaction volume of 31 units, the sharp rise in average prices reflects the high demand and limited supply of executive flats in Serangoon.<\/p>\r\n\r\n\r\n