HDB shophouse in Hougang for sale at $3.5 mil
The next auction organised by Singapore Realtor’s Inc (SRI) on Sept 28 will feature a two-storey HDB shophouse at 698 Hougang Street 61. This owner’s sale has an opening price of $3.5 million and a total floor area of 1,690 sq ft, translating the price to $2,071 psf. On a 99-year leasehold, the shophouse has a remaining tenure of 62 years.
Split into a 1,001 sq ft ground-floor commercial space and a 689 sq ft residential space which is already leased to a tenant, the shophouse is situated in the 37-year-old Hougang Spring estate. This neighbourhood and its adjacent HDB estates along Hougang Avenue 8 form a mature residential area.
Conveniently, the property is located close to the Hougang Sports Centre – a complex which contains a sports hall, swimming complex and stadium. Additionally, Hougang MRT Station which is part of the North-East Line is 500m from the block and will soon serve as an interchange for the Cross Island Line from 2029.
The Orchard Boulevard Condo is conveniently located close to various major transport nodes. The nearby MRT stations at Dhoby Ghaut and Somerset serve as convenient gateways to other parts of the island. An excellent network of bus services also serve the area, allowing residents to easily access shopping malls and other entertainment outlets in Orchard Road. In addition, the Central Expressway sits close by, which provides direct connection to the business district.
The area is perfect for those who enjoy an active lifestyle, with an abundance of leisure and recreational activities available for residents. All of the major shopping malls, as well as a vast number of restaurants, cafes, bars and cinemas, are within walking distance. Moreover, the condo itself is home to contemporary and sophisticated amenities, such as a swimming pool, outdoor jogging trails and a well-equipped gym, further enhancing the lifestyle experience of living at Orchard Boulevard.
As a whole, the convenience and accessibility offered by Orchard Boulevard Condo make it a highly desirable location to live and work. Numerous features and amenities, coupled with an extensive transportation network, make the area the perfect place to call home.
Within the vicinity of the shophouse, EdgeProp Singapore’s Landlens tool has identified three schools which lie within 500m, including Montfort Junior School, Montfort Secondary School and Yio Chu Kang Primary School. Alternatively, Hougang Primary School, Punggol Primary School and Xinmin Primary School all lie within 1km of the block.
According to Landlens’ population census data, Hougang Spring residents are mainly homeowners (90%) and the remaining 10% of occupants are tenants and commercial shop proprietors. Eric Liew, Manager (Auction) at SRI and the marketing agent for the sale of the shophouse, believes the area’s large catchment of residents and proximity to several schools could generate regular footfall to support commercial businesses.
The HDB Shophouse is an investment opportunity for portfolio diversification. In particular, the asking price could appeal to newcomers aiming to capitalise on potential long-term rental returns from the asset.