SINGAPORE — Singapore’s million-dollar HDB resale market has reached another milestone after an executive flat in Tampines sold for S$1.275 million, setting a new record for the flat type in the town and becoming its second-most expensive HDB resale transaction overall.
The property, located at Block 938 Tampines Avenue 5 in the Tampines Palmspring estate, changed hands in November 2026. Measuring approximately 1,528 square feet, the executive flat is situated between the seventh and ninth floors of the nine-storey block.
The transaction works out to approximately S$834 per square foot, placing it ahead of the previous Tampines executive-flat record of S$1.24 million.
But the sale has attracted attention for more than its headline price. The flat is relatively smaller than several other executive units that have fetched million-dollar sums in Tampines, and its remaining lease is shorter than that of the previous record holder.
The transaction raises a bigger question about Singapore’s resale market: what makes buyers willing to pay more than S$1.2 million for an older public-housing property?
A new record for Tampines executive flats
The S$1.275 million transaction sets a new benchmark for executive flats in Tampines.
Before the latest sale, the town’s record for this flat category stood at S$1.24 million. That transaction involved an executive flat at Block 856F Tampines Street 82, which sold in June 2026.
The latest buyer paid S$35,000 more, representing an increase of approximately 2.8%.
The comparison is particularly interesting because the Tampines Palmspring unit is not the larger property. At 1,528 square feet, it is 76 square feet smaller than the previous record holder, which measured 1,604 square feet.
Both properties were also located within the seventh-to-ninth-floor range.
Despite those similarities, the newer transaction achieved a substantially higher price per square foot.
The difference suggests that buyers may be placing considerable value on the individual unit’s condition, layout, location within the development and other property-specific features. However, the available transaction information does not establish which particular factor drove the buyer’s final offer.
The property has around 61 years left on its lease
One of the most striking details is the property’s remaining lease.
Block 938 Tampines Avenue 5 was completed in 1988, and the record-setting flat has approximately 61 years remaining on its 99-year lease.
That is an important consideration for prospective buyers because HDB properties are leasehold homes. As the remaining lease becomes shorter, buyers must consider how much time is left on the property and how that may affect future resale prospects and financing eligibility.
The latest transaction also challenges the assumption that a shorter remaining lease will automatically prevent an older flat from commanding a premium.
The previous Tampines executive-flat record holder reportedly had approximately 68 years remaining on its lease when it sold for S$1.24 million.
In other words, the newer record-setting unit achieved a higher price despite having around seven fewer years on its lease.
This does not mean remaining lease is unimportant. Rather, it illustrates that resale prices are influenced by several considerations, and buyers may be willing to pay more when they believe a particular property offers enough advantages.
Why the Tampines Palmspring location attracts attention
The development benefits from access to established transport connections and Tampines’ extensive range of amenities.
Tampines West MRT station on the Downtown Line is approximately a seven-to-eight-minute walk from Block 938, while Tampines MRT station, which serves the East-West and Downtown lines, is also within walking distance.
Bus services along Tampines Avenue 5 provide another way for residents to travel around the estate. Service 292 connects the nearby bus stop with Our Tampines Hub and Tampines Bus Interchange.
For families, the surrounding neighbourhood also offers several primary schools within the reported one-kilometre radius, including Chongzheng Primary School, Junyuan Primary School, St. Hilda’s Primary School, Tampines Primary School and Yumin Primary School.
Shopping and daily necessities are accessible through the Tampines town-centre cluster, which includes Tampines Mall, Century Square and Tampines 1.
Our Tampines Hub provides additional community facilities, including a library, hawker centre, retail outlets and sports amenities.
These surrounding facilities help explain why established neighbourhoods can remain attractive to homebuyers even when individual HDB developments are several decades old.
However, proximity to amenities alone does not establish the reason for this particular record-breaking purchase.
Seven Tampines flats have crossed the S$1.2 million mark
The latest sale is part of a broader pattern of expensive HDB resale transactions in Tampines.
Available transaction records show that seven flats in the town have sold for at least S$1.2 million.
Most of these transactions involved executive flats, demonstrating the continued appeal of larger public-housing layouts among buyers who want more living space.
The town’s highest recorded resale transaction remains a Multi-Generation flat at Block 454 Tampines Street 42. That property sold for S$1.388 million in September 2026.
Here are the seven transactions identified among Tampines’ highest-priced resale sales:
| Transaction period | Location | Flat type | Sale price |
|---|---|---|---|
| September 2026 | Block 454 Tampines Street 42 | Multi-Generation | S$1,388,000 |
| November 2026 | Block 938 Tampines Avenue 5 | Executive | S$1,275,000 |
| June 2026 | Block 856F Tampines Street 82 | Executive | S$1,240,000 |
| March 2026 | Block 156 Tampines Street 12 | Executive | S$1,210,000 |
| October 2026 | Block 856D Tampines Street 82 | Executive | About S$1,209,000 |
| August 2025 | Block 498J Tampines Street 45 | Executive | S$1,208,000 |
| June 2025 | Block 856E Tampines Street 82 | Executive | S$1,200,000 |
The figures show that the latest executive-flat sale is not an isolated high-priced transaction. Several large homes in Tampines have already crossed the S$1.2 million threshold.
Still, the S$1.275 million deal stands out because it has moved the executive-flat benchmark noticeably higher than the previous record.
Why the S$1.388 million Multi-Generation flat remains number one
Although the Tampines Palmspring transaction has become the town’s second-most expensive HDB resale sale, it has not taken the overall top position.
That distinction remains with the Multi-Generation flat at Block 454 Tampines Street 42, which sold for S$1.388 million in September 2026.
The property measures approximately 1,787 square feet, making it considerably larger than the 1,528-square-foot executive flat at Tampines Palmspring.
The price difference between the two transactions is S$113,000.
Interestingly, the larger Multi-Generation flat achieved an estimated S$777 per square foot, lower than the executive flat’s approximately S$834 per square foot.
This highlights why total selling price and price per square foot can tell different stories. A larger property may command a higher overall price while having a lower price for each square foot.
The comparison also shows that the Tampines market’s highest-priced homes are not necessarily competing on exactly the same terms. Flat type, floor area, layout and remaining lease can all influence how buyers assess a property.
Tampines still trails Singapore’s most expensive executive-flat market
The S$1.275 million sale is a major achievement for Tampines, but it remains below the highest executive-flat resale prices recorded elsewhere in Singapore.
Bishan continues to dominate the national executive-flat rankings.
The five highest-priced executive-flat resale transactions identified in the available records were all in Bishan, with prices ranging from approximately S$1.55 million to S$1.65 million.
The national record is held by an executive maisonette at Block 192 Bishan Street 13, which sold for S$1.65 million in August 2026.
That property measured approximately 1,743 square feet and achieved around S$946 per square foot.
Compared with the Tampines Palmspring flat, the Bishan property was approximately 215 square feet larger and sold for S$375,000 more.
The difference demonstrates that while Tampines has established a new local benchmark, the most expensive executive flats in Singapore continue to command significantly higher prices.
Does this mean million-dollar HDB flats are becoming the norm?
The latest transaction adds to the visibility of million-dollar HDB resale deals, but it should not be interpreted as evidence that every flat in Tampines is approaching that price level.
The town’s resale market includes homes across a wide range of flat types, sizes, ages and remaining leases.
Available 2026 transaction data puts the median resale price across Tampines at approximately S$725,000. The median for executive flats is higher, at around S$980,000.
These figures provide important context: a record-setting transaction represents the upper end of the market, not the typical price paid by every buyer.
Even within the same neighbourhood, two properties can command very different prices depending on their size, floor level, condition, layout and lease balance.
For buyers, this means that headline-grabbing transactions should be treated as reference points rather than automatic valuations for other homes.
For sellers, a record sale may strengthen confidence in the value of comparable properties, but the final price will still depend on what an individual buyer is prepared to pay.
What buyers should consider before paying more than S$1 million
A high resale price can make a property appear attractive, particularly when it is located in an established town with transport links and nearby amenities. But prospective buyers need to look beyond the headline figure.
Remaining lease: Buyers should understand the lease balance and consider how it affects their long-term housing plans, financing options and potential resale market.
Price per square foot: Comparing the total selling price alone can be misleading. A property’s size should be considered when evaluating whether its price is competitive.
Property condition: Renovation needs, maintenance and the condition of the home’s fixtures can affect the actual cost of ownership after purchase.
Transport and amenities: MRT access, schools, shopping centres and community facilities can influence a property’s appeal, although their impact differs between individual buyers.
Future plans: Buyers should consider how long they intend to live in the property and whether the remaining lease fits their household’s needs.
A million-dollar resale flat is a major financial commitment. The fact that another home has achieved a record price does not necessarily mean the same valuation makes sense for a different property.
The Bottom Line
Tampines has recorded another major milestone in Singapore’s HDB resale market after an executive flat at Block 938 Tampines Avenue 5 sold for S$1.275 million.
The transaction establishes a new executive-flat record for the town and places the property second on Tampines’ overall list of most expensive HDB resale homes.
Its approximately 1,528-square-foot floor area, seventh-to-ninth-floor position and roughly 61 years of remaining lease make the sale particularly noteworthy. It also achieved a higher price per square foot than the larger executive flat that previously held the town record.
Yet the S$1.388 million Multi-Generation flat at Block 454 Tampines Street 42 remains the town’s most expensive HDB resale transaction.
The latest deal reinforces the appeal of large homes in established neighbourhoods, but it also highlights the importance of looking at individual property characteristics rather than assuming every home will follow the same price trajectory.
With an older Tampines executive flat now selling for S$1.275 million, do you think million-dollar HDB resale prices are justified by location and space — or are buyers paying too much for ageing public-housing homes?
