It’s another case of “another day, another price record,” as Woodlands has just set a new all-time high. In the first week of October alone, two Executive flats in Woodlands were sold for $1.27M and $1.24M, marking the first time flats in the town crossed the $1.2M threshold and setting a record for the most expensive HDBs in the area.
Join us as we break down the details, explore the factors driving demand for executive flats in Woodlands, and explain what you need to know if you’re considering buying in Singapore’s northern town.
New price record of $1.27M for executive flats in Woodlands
Image credit: HDB
The flat in question is an Executive flat at Blk 850 Woodlands Street 82, located between the 10th and 12th storeys, with a remaining lease of just over 68 years. Sold for $1.27M, it now holds the record as the most expensive HDB flat in Woodlands. This is slightly higher than another Executive flat sold earlier in October at the nearby Blk 834 Woodlands Street 83, situated between the 4th and 6th storeys, with a remaining lease of just over 67 years.
At $1.27M and $1.235M, these 2 flats are the first in Woodlands to cross the $1.2M mark—a remarkable milestone that will likely set the tone for other Executive flats in the area.
Sized at 177 and 189 sqm (1,905 and 2,034 sqft), these flats are notably spacious compared with typical modern 5-room HDB flats, which rarely exceed 1,400sqft. This makes Executive flats highly sought after, even if they are older units with less than 70 years of lease remaining.
Additionally, Executive flats often include an extra space adjacent to the living room, which some homeowners convert into a study, balcony, or even an extra room. The only other option for flats of comparable size would be private condominiums, which naturally come with a much higher price tag.
Image credit: Google Maps
Located in the heart of the Woodlands residential estate, these flats naturally appeal to large families who value generous floor space. With a wide range of amenities nearby and schools such as Evergreen Primary, Qihua Primary, Woodlands Primary, Evergreen Secondary, and Riverside Secondary within easy reach, it’s no surprise that demand for these flats remains strong, contributing to the surge in prices.
Image credit: HDB
In terms of price trends for executive flats in Woodlands, HDB data shows that over the past 12 months, several transactions have crossed the million-dollar mark, most hovering around $1.1M across various streets with similar remaining leases.
And to think that it was only in May 2022 when we first wrote about the first executive flat in Woodlands to cross the million-dollar mark!
Another reason for their popularity is scarcity. Executive flats make up only about 9% of all HDB flats in Woodlands, and with production having stopped in 1995, limited supply combined with steady demand naturally drives resale prices up.
However, buyers should remember that these are ageing flats with significantly shorter remaining leases. This has implications such as lease decay and a lower likelihood of achieving high resale gains in the future. For a deeper understanding of the risks and considerations, check out our article on whether buying an HDB with a low remaining lease is worth it.
The North Resurges: Growing popularity for Singapore’s Northern Coast
It’s also worth noting that resale HDB prices for units in Woodlands have been steadily increasing, and recent months have seen this momentum pick up.
According to property listing platform 99.co, executive flat prices in Woodlands grew around 6% annually since 2022. However, from June to October this year, the price record jumped from $1.19M to $1.27M, marking a 7% surge in just four months—higher than the previous annual growth rate.
So, what’s causing all the recent buyer attention in Woodlands?
Revitalisation of the North
Image credit: Far East Organisation
According to the URA’s Draft Master Plan 2025, the northern region of Singapore will undergo significant changes over the next few years, sparking transformation in estates such as Woodlands.
As part of the Government’s plan, the estate will be developed into a sizable commercial hub, bringing jobs closer to homes in the North region. No longer an “ulu” town, Woodlands is set to become vibrant, with over 100ha of land allocated for new residential, business, industrial, research, and innovation spaces.
Strategic gateway to Malaysia
Image credit: Land Transport Authority
Of course, the main attraction in Woodlands will be the upcoming RTS, a new rail connection between Singapore and Malaysia. This line will link Woodlands North MRT station on the Thomson-East Coast Line to Bukit Chagar in Johor Bahru, making Woodlands a gateway for both work and leisure.
The development is also expected to boost rental demand with more cross-border commuters. Imagine being able to pop into Malaysia for dinner and be back home in a jiffy!
New record holder of $1.27M for an Executive flat in Woodlands
Despite having significantly fewer years of remaining lease, transactions like the $1.27M sale in Woodlands show that homebuyers are willing to look past this in exchange for trade-offs, such as much larger floor space at a relatively affordable price.
With Woodlands also set to be transformed into a vibrant hub and serve as the gateway to Malaysia, it’s no surprise that buyers are increasingly considering it a viable place to live.
Read more about Executive flats in Singapore:
- Toh Yi Executive Maisonette Sells For $1.5M, Sets Record For Highest HDB Resale Transaction In Bukit Timah
- Where Are All The HDB Executive Maisonettes In Singapore?
- 9 Coolest HDB Executive Maisonette Design Features We’ve Seen
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