HDB shophouse in Hougang for sale at $3.5 mil
An HDB shophouse at 698 Hougang Street 61 will be offered for sale on Sept. 28 in an owner’s auction organised by Singapore Realtor’s Inc (SRI). With a total floor area of 1,690 sq ft and a $3.5 million opening price, the 99-year leasehold shophouse, which has a remaining tenure of approximately 62 years, translates to $2,071 psf.
The 99-year leasehold shophouse, which has a remaining tenure of approximately 62 years, is located at Hougang Spring estate, a 37-year-old neighbourhood. Boasting convenient access to the Hougang MRT Station and the forthcoming Cross Island Line from 2029, the area is known for its numerous schools, community facilities, and the 500m-away Hougang Sports Centre.
The HDB shophouse has a ground-floor commercial space of 1,001 sq ft, and a 689 sq ft residential space on the second floor that is currently leased to a tenant. This opportunity presents a unique opportunity for portfolio diversification, and those seeking long-term rental returns, while the $3.5 million asking price appeals to newcomers.
Eric Liew, the manager (auction) at SRI and the marketing agent for the sale of the shophouse, states that the large amount of residents living in the area, along with schools located within 500m, generate regular footfall that supports businesses.
Based on population census data, compiled by Landlens, the majority of Hougang Spring residents are homeowners. A few schools located within 500m of 698 Hougang Street 61 are Montfort Junior School, Montfort Secondary School, and Yio Chu Kang Primary School. In the 1km radius, there are also Xinmin Primary School, Hougang Primary School and Punggol Primary School.
Residents of Havelock MRT Condo enjoy a variety of convenient road connections to get to their destinations within the city. Located near both the Outram and the Great World City MRT Stations, reach any part of Singapore quickly and easily. The MRT stations also offer various bus and rail connections, making it unnecessary to be dependent on one’s vehicle at all times. Besides, numerous buses provide connections to all parts of Singapore and beyond.
This property, which offers a great investment opportunity combined with a great location and an attractive price, will go up for auction on Sept. 28. An ideal asset for portfolio diversification, this shophouse could generate great long-term rental returns.