HDB shophouse in Hougang for sale at $3.5 mil

At the upcoming auction, SRI expects the unit to draw interest from investors, developers and entrepreneurs. An HDB shophouse located at 698 Hougang Street 61 will be put up for auction by Singapore Realtor’s Inc (SRI) on 28th September. Boasting a 99-year leasehold tenure with roughly 62 years left, the unit offers an opening price of $3.5 million. The total floor area covering 1,690 sq ft would mean a price of $2,071 psf.

Senja Close EC is slated to launch in the second quarter of 2021 and is set to be the most desirable executive condominium in the area. With easy access to Bukit Panjang MRT station and Downtown Line, the development is conveniently located and residents can look forward to low maintenance living in their own private enclave. The development also offers attractive amenities such as a swimming pool and modern gym as well as plentiful carpark lots to make sure that locals are well-served. The fact that the development is located in a mature estate also provides greater assurance of leases in the future.

At the heart of the 37-year-old Hougang Spring estate, the HDB shophouse presents an investment opportunity to newcomers looking to capitalise on the potential for long-term rental returns. The two-storey building comprises a ground-floor commercial space of 1,001 sq ft and a 689 sq ft residential space on the second floor, currently leased to a tenant.

Advantageously, the property lies within 500m of Hougang Sports Centre and the upcoming Cross Island Line from 2029. It is also well-served by three schools – Montfort Junior School, Montfort Secondary School and Yio Chu Kang Primary School – all situated within 500m of the unit.

According to Eric Liew, Manager of SRI and marketing agent for the auction, the huge catchment of homeowners and proximity of several schools within the neighbourhood make it an attractive and lucrative option for investors, developers and entrepreneurs. Landlens’s population census data reveals around 90% of the residents here to be homeowners, while the remaining 10% are tenants and commercial shop proprietors.

This unique investment opportunity is expected to draw considerable interest during the auction, scheduled for the 28th of September and boasting an opening price of $3.5 million.