Kovan Green maisonette sets new Hougang record as executive HDB flat sells for S$1.45 million

SINGAPORE: A record was set in Hougang when an executive HDB flat at 221 Hougang Street 21 changed hands for S$1.45 million.

According to records on the Housing and Development Board’s website, the unit is a 148-sqm maisonette spanning the fourth to sixth floors.

The home is part of Kovan Green, a low-rise development located along Hougang Street 21.

The final price works out to about S$910 per square foot.

This latest deal sets a new high not only for Hougang but also for the wider District 19, 99.co reported.

Kovan Green’s lease commenced in 1992, giving the buyer 65 years and 11 months of remaining tenure.

The location offers access to several amenities.

According to Google Maps, Heartland Mall, Kovan Market and Food Centre and Kovan Sports Centre are all within walking distance.

Kovan MRT station is roughly 750 metres away, or about a 10-minute walk.

Surin Avenue Neighbourhood Park sits directly across the road.

Several schools are located within 1km of the block, including Xinghua Primary School, Paya Lebar Methodist Girls’ School and Yuying Secondary School.

This is the first executive flat in Hougang to cross the S$1.3 million price point.

Although Kovan Green is in a relatively quiet pocket, residents remain close to the North East Line.

Kovan MRT is eight minutes away on foot, and the line offers a direct route into the city.

Serangoon MRT, one stop away, provides additional access via the Circle Line.

Everyday amenities are nearby.

Kovan 209 Market and Food Centre is a short walk from the estate, and a FairPrice supermarket at Block 202 sits opposite Kovan Green.

Heartland Mall is also within walking distance for groceries and dining.

For broader retail and food options, NEX is located one MRT stop away.

According to 99.co, executive flats have performed strongly in the resale market recently.

Two record-setting transactions were logged last week in Pasir Ris and Bukit Batok.

The previous Hougang record was a S$1.28 million maisonette at Block 522 along Hougang Avenue 6, sold in June 2025.

That unit measured 1,561 square feet and was on the 13th to 15th floors.

Its lease began in 1987 and had about 61 years remaining at the time of sale.

The new Kovan Green record stands S$170,000 higher, representing a 13.28 per cent increase.

Based on 99.co’s Property Value Tool, the unit’s estimated valuation was about S$1.14 million.

This suggests buyers may have paid roughly S$310,000 in Cash Over Valuation.

Before this sale, the highest executive flat transaction in Kovan Green was a 1,679-square-foot unit in Block 222.

That unit sold for S$1.25 million in April 2025 at S$744 per square foot.

Across Hougang, only three executive flats had traded near the S$1.2 million range in recent years.

Prices have now jumped directly from S$1.28 million to S$1.45 million.

According to 99.co, another executive flat in Hougang is already listed above S$1.5 million.

This indicates that demand for large and rare HDB flat types remains strong.

482 million-dollar HDB flats sold in Q32025

The highest HDB resale transaction in Singapore remains the S$1.73 million 5-room loft unit at SkyOasis @ Dawson sold in June 2024, although that deal does not appear in the HDB database.

Market-wide, demand for high-value HDB resale units continues to rise.

According to earlier figures from the Singapore Real Estate Exchange and 99.co released on 6 October, 172 resale flats surpassed S$1 million in September, rising from 141 in August.

In October 2025, a total of 87 HDB resale flats transacted for at least S$1 million.

Toa Payoh recorded 20 such sales, followed by Bukit Merah with 13 and Kallang/Whampoa with 11.

Other million-dollar transactions were registered in Queenstown, Geylang, Ang Mo Kio, Bishan, the Central Area, Clementi, Woodlands, Tampines, Hougang, Serangoon, Pasir Ris, Yishun, and Marine Parade.

HDB data indicated that about 482 resale flats were sold for seven-figure sums in Q3 2025, up 15.9 per cent from the previous quarter.