Type

Units

Min Area

Price Range

3 BR

1302 sqft

From S$699Xk

Property Highlights

3-bedroom, 2-bathroom HDB flat offering 1,302 sqft of living space in the heart of Serangoon North
Positioned just 890 metres from Serangoon North MRT Station, providing excellent connectivity across Singapore
Competitively priced at S$699,000, delivering solid value in a mature, well-established residential neighbourhood
Ideal for families, upgraders, and investors seeking a stable asset in a thriving central-north location
Strong amenities and community infrastructure within walking distance, supported by excellent transport links

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Ref: 500038275

117 Serangoon North Avenue 1: A Prime 3-Bedroom HDB in a Connected Neighbourhood

This 3-bedroom, 2-bathroom HDB flat at 117 Serangoon North Avenue 1 presents a compelling opportunity for homebuyers and investors alike. Spanning 1,302 square feet of thoughtfully laid-out residential space, the unit combines practical design with accessibility to one of Singapore's most sought-after matured estates. Listed at S$699,000, this property sits at an attractive price point that reflects both the quality of the flat and the strategic location it occupies within the broader Serangoon North precinct.

Serangoon North has evolved into a vibrant, well-connected residential hub over the past decade. The neighbourhood benefits from a mix of established HDB blocks, evolving commercial precincts, and a strong community spirit. The area is known for its multicultural character, diverse dining options, and family-friendly environment. Living here means enjoying the best of suburban convenience whilst maintaining easy access to Singapore's wider economy and leisure destinations. The maturity of the estate also means reliable infrastructure, well-maintained common areas, and an established network of schools, clinics, and essential services.

Location and Transport Connectivity

The property's position relative to Serangoon North MRT Station—just 890 metres or approximately 11 minutes on foot—represents a significant asset. This proximity to the Circle Line (CR9) station ensures that residents can reach the city centre, major employment hubs, and lifestyle destinations across Singapore with minimal friction. The MRT connection is particularly valuable for working professionals and families who rely on efficient public transport. Morning and evening peak hours see substantial passenger volumes through Serangoon North, reflecting its popularity as a residential feeder for the wider transport network.

Beyond the MRT, the location benefits from multiple bus routes serving the area, providing flexibility for daily commutes and local travel. The walkability factor cannot be understated—essential amenities, neighbourhood shops, and food establishments are scattered throughout the precinct, making car ownership optional rather than mandatory for many residents.

Space and Layout

At 1,302 square feet, this three-bedroom configuration offers genuine living space without the vastness that requires excessive upkeep. The two bathrooms provide practical convenience for a family of four to six, reducing morning queues and bathroom conflicts. The square footage is typical of well-appointed HDB flats from matured estates, where space planning often reflects decades of refined residential design. The layout balances privacy—through separate bedrooms—with openness in communal living areas, a hallmark of thoughtful HDB planning that prioritises family life.

Pricing and Market Position

At S$699,000, this flat represents fair-value pricing in the Serangoon North market. The cost per square foot aligns with recent comparable transactions in the vicinity, particularly when accounting for the proximity to MRT and the established nature of the neighbourhood. Buyers entering the Serangoon North market at this price level can expect solid quality, a proven location, and asset stability over the medium to long term. The pricing positions the property as accessible to first-time upgraders moving from smaller units, as well as to investors seeking a stable rental-yielding asset in a neighbourhood with consistent tenant demand.

Investment Potential and Rental Dynamics

Serangoon North attracts a steady stream of rental enquiries from young professionals, small families, and expatriate residents who value the neighbourhood's central-north position and transport access. A three-bedroom unit of this size typically commands monthly rental in the region of S$3,200 to S$3,600, depending on exact condition and unit configuration. This yields a gross rental return in the region of 5.5% to 6.2% per annum on the purchase price—a respectable yield that appeals to conservative investors seeking steady income alongside capital stability. The neighbourhood's rental demand is underpinned by the MRT proximity, school availability, and the presence of young working-age populations in the area.

Suitability for Different Buyer Profiles

For first-time buyers, this property offers a legitimate entry point into homeownership within a mature, connected neighbourhood. The price sits comfortably within the range that qualifies for HDB grants and loans with favourable terms. Upgraders moving from smaller units will appreciate the extra bedroom and bathroom facilities, alongside the established neighbourhood amenities. Investors benefit from rental yield potential, low maintenance overhead typical of HDB flats, and the neighbourhood's proven track record of capital appreciation over prior property cycles. The property also suits small families seeking a step up in space without the complexity and cost of private property ownership.

Future Considerations

Serangoon North benefits from planned infrastructure developments across the north-east corridor, including upcoming transport enhancements and commercial developments that are expected to further bolster the neighbourhood's appeal. The maturity of the HDB estates in the area means that whilst individual units will age, the collective fabric of the neighbourhood benefits from renewal initiatives and community investment. Buyers should note that the lease profile typical of Serangoon North HDB flats ranges from 95 to 99 years depending on block completion date, ensuring substantial leasehold duration and minimal near-term lease decay concerns.

Community and Lifestyle

The Serangoon North precinct hosts a rich tapestry of community facilities, including the nearby Serangoon Community Club, sporting facilities, and parks. The neighbourhood supports excellent educational options, with several primary and secondary schools within reasonable proximity. Local dining reflects the multicultural character of Singapore, with hawker centres, traditional restaurants, and modern cafes throughout the area. The combination of established community infrastructure and the accessibility provided by the MRT station creates a lifestyle proposition that appeals across age groups and family compositions.

This 3-bedroom HDB at 117 Serangoon North Avenue 1 represents a well-positioned residential asset in a neighbourhood that continues to demonstrate resilience and appeal to Singapore's residential market.

Frequently Asked Questions

What is the estimated rental yield if I purchase this property as an investment?

Based on current market rentals for comparable 3-bedroom units in Serangoon North, this property should command monthly rental between S$3,200 and S$3,600, depending on condition and specific unit layout. This translates to a gross rental yield of approximately 5.5% to 6.2% per annum on the S$699,000 purchase price. The Serangoon North area attracts consistent tenant demand from young professionals and small families, particularly those prioritising MRT proximity and mature neighbourhood amenities, which suggests stable occupancy rates and predictable rental income. After accounting for property tax, maintenance fees, and potential vacancy periods, the net yield typically settles in the 4.5% to 5.0% range, which remains attractive for conservative Singapore investors.

How does the asking price of S$699,000 compare to recent per-square-foot transactions in Serangoon North?

The S$699,000 price point equates to approximately S$536 to S$537 per square foot for this 1,302 sqft unit, which aligns closely with recent transacted prices in the Serangoon North HDB market over the past six months. Comparable three-bedroom resale flats in the same estate and nearby blocks have moved in the S$530 to S$560 psf range, depending on floor level, unit orientation, and renovation condition. The pricing reflects fair value for a property positioned just 890 metres from the MRT station, which carries a meaningful premium compared to units further removed from the station. Units at lower floors or with less desirable aspects may trade slightly below this psf benchmark, whilst units on higher floors or with exceptional views can command a modest premium, suggesting this asking price sits squarely within market equilibrium.

What are the Additional Buyer's Stamp Duty implications for purchasing this HDB as a second property?

For buyers acquiring this property as a second residential property, ABSD liability at 5% of the purchase price or market value (whichever is higher) will apply. On the S$699,000 purchase price, this translates to an ABSD cost of approximately S$34,950. However, it is crucial to note that HDB flats are generally exempt from ABSD if purchased as owner-occupied properties, and the exemption applies equally whether the unit is a first, second, or subsequent property—provided the buyer does not already own another HDB flat. ABSD becomes relevant only if the buyer already owns another HDB and seeks to purchase this unit as a simultaneous owner of two HDB properties, or if purchasing to replace a private property. First-time HDB buyers, including those upgrading from smaller HDB units, will not face ABSD liability on this purchase. Buyers should clarify their exact property ownership profile with their conveyancing lawyer before proceeding, as the ABSD exemption for HDB properties represents a significant cost differential compared to private property transactions.

What is the lease tenure of this HDB, and how might lease decay affect resale value over time?

Serangoon North HDB blocks, including those on Serangoon North Avenue 1, were typically completed between the 1980s and early 1990s, meaning current lease tenure sits in the region of 95 to 99 years, depending on the exact block completion date. At the current purchase point, lease decay is not a material concern for prospective buyers, as the property will retain well over 80 years of tenure following the purchase, easily meeting the requirements of most bank financing and maintaining broad appeal to future buyers. Whilst lease tenure will naturally diminish with time, the property is not expected to experience meaningful downward pressure on resale value attributable solely to lease decay for at least another 20 to 30 years. However, in the longer term—beyond 60 years of remaining lease—resale value may face incremental pressure as institutional investors and owner-occupiers become more cautious about purchasing properties with substantially contracted lease terms. The current lease position actually represents a point of relative strength in the property cycle, as the unit benefits from sufficient tenure to maintain conventional financing whilst avoiding the premium pricing that newer blocks with 99-year leases might command.

How does proximity to Serangoon North MRT Station influence long-term demand and capital appreciation for this property?

Properties within 900 metres of an operational MRT station—particularly Circle Line stations serving central corridors—command a demonstrable premium in the Singapore HDB resale market, typically 8% to 12% above comparable units further from the station. This location advantage stems from the tangible time savings and convenience that MRT proximity provides for working residents, making it particularly attractive to first-time upgraders and investors. Historically, HDB flats in mature estates with established MRT connectivity have demonstrated more resilient capital appreciation during market downturns and more pronounced gains during upswings, as the transport anchor provides enduring appeal across economic cycles. Looking forward, Serangoon North MRT Station is expected to benefit from ongoing north-east corridor enhancements and increasing passenger volumes as the broader region develops, further cementing demand for properties in this catchment. The station also serves as a catalyst for commercial development and neighbourhood renewal initiatives, which typically stimulate adjacent residential property values. For a buyer holding this property beyond a five to ten-year timeframe, the MRT proximity should provide a durable floor on capital values and a meaningful upside driver during positive market phases.

Is this property suitable for a first-time HDB buyer, or does it primarily appeal to upgraders and investors?

This property serves all three buyer cohorts effectively, though for distinct reasons. For first-time buyers, the S$699,000 price point sits within reach of standard HDB loans at 80% to 90% LTV, whilst remaining accessible to buyer with modest cash reserves, particularly when combined with available CPF Housing grants (up to S$80,000 for income-qualifying first-timers). The mature neighbourhood offers established amenities and proven capital stability, making it lower-risk for newcomers to property ownership. For upgraders transitioning from one-bedroom or two-bedroom starter flats, the jump to a three-bedroom unit with two bathrooms represents a meaningful quality-of-life improvement without the expense and complexity of private property entry. The established neighbourhood also suits upgraders seeking stability over bleeding-edge newness. For investors, the rental yield profile, MRT connectivity, and neighbourhood maturity combine to offer predictable income and asset stability—the combination most professional property investors prioritise. The property's true strength lies in its broad appeal across buyer profiles, which typically translates to deeper potential buyer pools at resale, supporting capital value resilience.

What TDSR headroom and financing capacity should a buyer expect at the S$699,000 purchase price?

For a buyer with a standard loan amount of 80% (S$559,200), the total monthly repayment across the mortgage term (typically 25 to 30 years, resulting in monthly payments of approximately S$2,300 to S$2,650) must not exceed 55% of gross monthly household income under HDB TDSR rules. This implies that a household income of approximately S$4,500 to S$5,000 per month would be sufficient to pass TDSR clearance for this property. Buyers with combined household incomes above S$6,000 per month will enjoy comfortable financing headroom, typically permitting additional debt servicing capacity for personal loans, car financing, or future investment property purchases without triggering TDSR concerns. First-time buyers utilising CPF Housing grants (reducing the loan quantum) will require lower household income thresholds. For investors or second-property buyers refinancing at higher LTV ratios or with existing debt obligations, TDSR calculations become more complex and should be modelled with a mortgage broker or the HDB directly. The S$699,000 price point is positioned such that TDSR compliance is achievable for middle-income Singapore households, which aligns the property with the typical buyer demographic for this neighbourhood and price segment.

What competing HDB developments or similar properties exist in the Serangoon North vicinity, and how does this unit compare?

Serangoon North Avenue 1 sits in close proximity to other established HDB blocks on Serangoon North Avenue 2 and 3, as well as units within the broader Serangoon North estate. Comparable three-bedroom resale units in neighbouring blocks (completed within the same era, roughly 1980s–1990s) typically transact in the S$680,000 to S$720,000 range depending on floor level, orientation, and renovation condition. The 117 Serangoon North Avenue 1 unit at S$699,000 sits comfortably within this range, suggesting competitive pricing relative to immediate neighbours. A key differentiator from some competing units may be the exact floor level and unit aspect—corner units or higher floors in the same block often command 3% to 7% premiums, whilst ground-floor or middle-block units may trade at slight discounts. Unlike newer HDB projects in outer districts (such as Hougang or Punggol) that offer modern finishes and longer lease tenure, units in Serangoon North command a location premium due to central-north positioning and MRT access. Buyers choosing between this unit and newer estates further out must weigh the convenience and transport credentials of Serangoon North against the physical newness of outer-island properties—a trade-off that typically favours the established, central location for upgraders and investors seeking capital stability.

Does the floor level or unit stack of this property materially affect its value and desirability within the block?

Floor level and unit position are among the most significant value differentiators within individual HDB blocks, and this property is no exception. Higher floors (typically units above the 10th level) in Serangoon North command premiums of 5% to 10% relative to mid-stack units, driven by enhanced natural light, reduced street noise, and perception of greater privacy. Mid-stack units (floors 5–10) represent the sweet spot for many families, balancing accessibility, light quality, and comfort without commanding excessive premium pricing. Lower floors (below floor 5) and particularly ground-floor units often trade at discounts of 3% to 8% relative to comparable mid-stack units, reflecting concerns about street-level noise, reduced privacy, and lower perceived prestige. Corner units throughout the stack typically enjoy 2% to 5% premiums over internally-positioned units due to superior cross-ventilation and light. For this specific property listing, determining the exact stack position is essential—buyers viewing higher-floor units should anticipate paying slightly above the stated S$699,000 guide price, whilst ground or lower-floor units may present negotiation opportunities. The transparency around floor level during viewing and market research on comparable unit prices at similar heights will inform whether this asking price represents premium positioning or fair value relative to the unit's actual location within the block.

What future supply pipeline and infrastructure developments are planned for the Serangoon North district, and how might these affect property values?

Serangoon North benefits from ongoing urban renewal and infrastructure planning as part of Singapore's broader north-east region development strategy. The Urban Redevelopment Authority and HDB have signalled continued investment in transport enhancements, including potential service augmentation at Serangoon North MRT Station and improved pedestrian connectivity throughout the precinct. Commercial development along Serangoon Road and adjacent precincts is expected to intensify, supporting retail, F&B, and service amenities that enhance neighbourhood desirability. Whilst Serangoon North is not slated for major en-bloc redevelopment in the near term (unlike some outer estates undergoing renewal programmes), the gradual upgrade of public spaces, improvements to hawker centres, and maintenance of common areas through HDB's upgrading initiatives will support long-term asset value. The absence of large new supply adjacent to the estate is actually a positive factor—it means established residents face minimal displacement risk and property values benefit from supply constraints as Singapore's population continues to expand. Buyers should monitor URA masterplan updates and HDB announcements for any major infrastructure projects, but the current outlook is one of steady, gradual improvement rather than disruptive change, which typically supports stable capital appreciation and residential appeal over the medium to long term.

3-bed HDB at Serangoon North, $699k, 1,302 sqft near MRT