# Where To Find HDB Executive Maisonettes Under $900K In 2026

- **Source:** Stacked Homes
- **Published:** 2026-08-17T12:32:04.000Z
- **Author:** Ryan J. Ong
- **Original:** https://stackedhomes.com/where-to-find-hdb-executive-maisonettes-under-900k-2026/
- **Topics:** HDB & Public Housing, Private Residential, Government & Policy

## Featured rationale

The concentration of affordable and actively traded EMs in fringe towns signals location-driven demand and may steer budget-conscious buyers away from scarcer central options.

## AI summary

As of August 2026, Executive Maisonettes averaged $978,000, while six towns recorded sub-$900,000 prices, led by Jurong West at $803,000.

## Original article

Prior to the Executive Condominium (EC) scheme, Singapore had Executive Flats. Among these, the most famous are probably the Executive Maisonettes (EMs). Introduced in 1983, these double-storey flats were a massive 1,400 to 1,600 sq ft; and they indicated a major advancement in housing policy. The creation of these duplex units marked the point when HDB moved from the urgent, bare-bones housing of the post-Colonial era, to offering quality housing across different economic backgrounds.

The EM scheme only lasted little over a decade though, ending in 1995. At that point, there was also some consideration of “subvention creep” – the tendency of public welfare budgets to balloon if unchecked. In the end, a compromise was made to tilt “sandwich” or aspirational housing toward the free market, in the form of the EC, which replaced the EM.

Today though, the remaining EMs are a particularly scarce and desirable form of HDB housing. While many are getting on in years, most are million-dollar assets; and they’re snapped up fast on the rare occasions they appear on the resale market.

This week, we present a quick update on EM transactions over the past year, and the overall trends we’re seeing:

A Snapshot of EM Prices Today

*The following is based on recorded EM transactions from January 2025 to August 2026

HDB towns | Size range (sqm) | Current age range | Average resale price | No. of tnx done

ANG MO KIO | 147 – 156 | 30 | $1,103,250 | 8

BEDOK | 141 – 173 | 30 – 42 | $1,017,164 | 46

BISHAN | 141 – 151 | 34 – 39 | $1,257,378 | 5

BUKIT BATOK | 139 – 154 | 28 – 42 | $887,233 | 52

BUKIT PANJANG | 125 – 151 | 23 – 39 | $848,545 | 82

BUKIT TIMAH | 142 – 142 | 37 | $1,390,000 | 1

CHOA CHU KANG | 125 – 153* | 23 – 37 | $806,204 | 105

CLEMENTI | 154 – 154 | 41 – 41 | $1,033,000 | 1

GEYLANG | 144 – 148 | 39 | $1,115,200 | 5

HOUGANG | 135 – 151 | 26 – 40 | $935,004 | 47

JURONG EAST | 140 – 173 | 28 – 41 | $989,249 | 38

JURONG WEST | 125 – 155 | 24 – 38 | $785,601 | 152

KALLANG/WHAMPOA | 140 – 158 | 32 – 40 | $1,155,689 | 10

PASIR RIS | 141 – 169 | 30 – 34 | $909,011 | 200

PUNGGOL | 128 – 130 | 22 – 23 | $815,612 | 43

QUEENSTOWN | 142 – 150 | 31 – 33 | $1,281,417 | 6

SEMBAWANG | 125 – 142 | 24 – 28 | $749,719 | 108

SENGKANG | 125 – 144 | 23 – 28 | $840,014 | 141

SERANGOON | 139 – 150 | 28 – 41 | $1,080,410 | 26

TAMPINES | 137 – 153 | 29 – 42 | $963,714 | 113

TOA PAYOH | 144 – 146 | 33 – 37 | $1,172,000 | 4

WOODLANDS | 130 – 192 | 25 – 41 | $940,938 | 207

YISHUN | 141 – 195 | 34 – 39 | $942,955 | 48

*While it’s not visible here, the largest EMs are actually in Choa Chu Kang. Blocks 639 to 641 Choa Chu Kang Street 64 contain a handful of 215 sqm (around 2,314 sq ft) premium maisonettes. They can be considered unique designs though, as only around eight such units reportedly exist in the cluster. Part of the high square footage is due to the inclusion of terrace-like spaces. None of these transacted in the past year, hence the table shows a maximum of only 157 sqm.

Some observations from the above

For those on the hunt for EMs, here are a few things to note:

Pricing generally falls into three broad bands

Tampines and Hougang have the most active markets

The narrow construction window limits age-based differences

The layout of most EMs should be carefully considered by older buyers

1. Pricing generally falls into three broad bands

Overall, ten of the 22 towns now have average prices above $1 million. We can say that Tampines is effectively at that level too, with an average of $999,611.

As of August 2026, the average quantum of an EM across the entire dataset is $978,000.

The most affordable EMs are found mainly in the north and west. HDB towns in these general areas still have EMs that fall below the $1 million mark, at around $800,000 to $900,000. The most affordable EMs seem to be found in Jurong West, Choa Chu Kang, Bukit Batok, Jurong East, Woodlands and Bukit Panjang.

The following towns still see EMs at below $900,000:

Jurong West: $803,000

Choa Chu Kang: $859,000

Bukit Batok: $872,000

Jurong East: $882,000

Woodlands: $887,000

Bukit Panjang: $888,000

The majority of EMs sit within the second price band of pricing, around $900,000 to $1.1 million. These locations include Yishun, Pasir Ris, Tampines, Hougang, Bedok, Toa Payoh, Clementi and Serangoon.

Unsurprisingly, the most expensive EMs are in the more central and highly mature areas. At Ang Mo Kio, Bishan, Bukit Timah and Queenstown, you should expect even the cheaper options to still be above $1.1 million.

Thart said, the averages for Ang Mo Kio and Queenstown are not too representative, as we’ve only seen two and three transactions respectively.

2. Tampines and Hougang have the most active markets

Tampines and Hougang account for over a quarter (28%) of all the transactions in the data. The largest transaction volumes came from:

Tampines: 146

Hougang: 118

Woodlands: 72

Bukit Batok: 63

Jurong West: 61

Yishun: 60

Pasir Ris: 59

Bishan: 54

Serangoon: 53

We should note, however, that Tampines is an exceptionally large town – so it’s statistically likely to have the most transactions.

Nonetheless, we can see that central area EMs are not just expensive; they’re far scarcer on the market. Most EM transactions take place in the larger fringe areas, and you may have better luck looking there.

That said, there are a few other micro-location details to note:

For Bedok, a substantial portion of Bedok’s EM stock is found around Bedok Reservoir and Kaki Bukit; not near Bedok Central. Blocks 716, 721 and 725 Bedok Reservoir Road, where you can find EMs, are near Bedok Reservoir MRT (DTL),

For Hougang, Kovan is something of a premium “submarket.” Kovan Green at Hougang Street 21 is within walking distance of Kovan MRT (NEL). A 148 sqm maisonette there reportedly sold for $1.45 million in December 2025, far above Hougang’s approximately $1.01 million town average.

Serangoon Central and Serangoon North unsurprisingly see big divergences in price as well. EMs around Blocks 417, 418, 423 and 424 (Serangoon Central) have transacted for approximately $980,000 to $1.23 million. By comparison, 148-to-155 sqm EMs at Block 125 Serangoon North Avenue 1 have recently sold for around $880,000 to $975,000.

Be aware that prices you see above are town averages only, and that the most convenient parts of a given town can diverge significantly.

3. The narrow construction window limits age-based differences

Because EMs were constructed within a relatively narrow window, we see less in the way of price differences by age.

The earliest EMs appeared around 1983, with EMs rolled out more widely through the mid-to-late 1980s. HDB subsequently phased out the format during the 1990s, and the final EM blocks completed around 1998 to 2000.

This means the EMs in the dataset span almost the entire production cycle. In 2026, even the youngest are already approaching 30 years old, while the oldest have only around 57 years remaining on their leases.

However, location matters much more than age. For example:

Sengkang’s 27-year-old EMs average $971,571.

Bishan’s 34-to-41-year-old EMs average $1.27 million.

Clementi’s 41-to-42-year-old EMs average $1.06 million.

Bedok’s 30-to-42-year-old EMs average $1.05 million.

This is not to say lease decay isn’t a factor. Rather, our point is that there are no genuinely “young EMs” against which the older ones can be compared. Location, scarcity and demand matter more than the 10-to-15-year age gaps.

If you want a relatively younger EM, you can look in places such as Sengkang, Bukit Panjang or Woodlands. One of the youngest EM clusters is at Block 310 Canberra Road in Sembawang. These EMs have a lease that commenced in 1998. Even so, the lower cost is more due to the location than the remaining lease.

4. The layout of most EMs should be carefully considered by older buyers

The standard EM layout places all three bedrooms on the upper floor, together with the master bathroom and common bathroom. The lower floor usually holds the living and dining areas, kitchen, balcony, utility or study, and a common toilet. This is an old layout philosophy that separates communal from private spaces.

This is problematic with older residents however, as it means getting to and from the bedroom requires the use of the stairs. Some EM variants have a study or utility room downstairs that owners convert into a small bedroom. In some cases, you may find an EM where the previous owners have already renovated it this way. But you should check that it’s not small or poorly ventilated, which would be unpleasant for long-term use. Also, note that the downstairs toilet may not contain a shower.

As of 2026, EMs make more sense as an end-point for owner-occupiers

This is even more likely to be the dominant role of the EM, as we move forward. Buyers today are paying close to, or above, $1 million for these flats that are already between 23 and 42 years old. Over a long holding period, the remaining lease will continue to shorten, eventually affecting financing, CPF usage, and the size of the prospective buyer pool.

We would also note that, as of August 2025, the Government confirmed it had no plans for further SERS projects. The first VERS exercises are expected only in the 2030s, when selected flats approach around 70 years old. The scheme is expected to be less generous than SERS, which should be a concern for owners and buyers of older flats (this by default includes EMs).

As such, buyers of EMs today shouldn’t depend on the sale proceeds of the property to fund a second move, or to significantly boost a retirement fund. Bear in mind the layout issues as well: if the stairs eventually become unmanageable, you could be forced to sell when the flat is older, and harder for prospective buyers to finance.

## Chinese translation

> Translation model: grok_cli

### 2026年何处可找到90万新元以下的HDB行政式排屋

并非每套行政式排屋在2026年都超过100万新元。Stacked梳理了全部22个组屋市镇的行政式排屋平均价格，从北区和西区最亲民的地段，到中部地区最昂贵的地址。

在执行共管公寓（EC）计划推出之前，新加坡曾有行政式组屋。其中最著名的大概就是行政式排屋（Executive Maisonettes，EMs）。这类双层单位于1983年推出，面积高达约1,400至1,600平方英尺；它们标志着住房政策的重大进步。这些复式单位的出现，标志着建屋发展局从后殖民时期紧迫、简陋的住房供给，转向为不同经济背景的家庭提供优质住房。

不过，行政式排屋计划只延续了十多年，于1995年结束。当时也有人顾虑“补贴膨胀”——即若不加约束，公共福利预算往往会不断膨胀。最终达成妥协，将“夹心层”或具有上进心的住房需求推向自由市场，以执行共管公寓（EC）取代行政式排屋。

时至今日，现存的行政式排屋已成为特别稀缺且备受追捧的组屋类型。尽管许多单位楼龄已高，但多数已是百万新元级资产；一旦罕见地出现在转售市场，往往很快被抢购一空。

本周，我们快速更新过去一年的行政式排屋交易情况，以及我们观察到的整体趋势：

今日行政式排屋价格速览

*以下数据基于2025年1月至2026年8月录得的行政式排屋交易

组屋市镇 | 面积范围（平方米） | 当前楼龄范围 | 平均转售价 | 成交宗数

宏茂桥 | 147 – 156 | 30 | 新币1,103,250元 | 8

勿洛 | 141 – 173 | 30 – 42 | 新币1,017,164元 | 46

碧山 | 141 – 151 | 34 – 39 | 新币1,257,378元 | 5

武吉巴督 | 139 – 154 | 28 – 42 | 新币887,233元 | 52

武吉班让 | 125 – 151 | 23 – 39 | 新币848,545元 | 82

武吉知马 | 142 – 142 | 37 | 新币1,390,000元 | 1

蔡厝港 | 125 – 153* | 23 – 37 | 新币806,204元 | 105

金文泰 | 154 – 154 | 41 – 41 | 新币1,033,000元 | 1

芽笼 | 144 – 148 | 39 | 新币1,115,200元 | 5

后港 | 135 – 151 | 26 – 40 | 新币935,004元 | 47

裕廊东 | 140 – 173 | 28 – 41 | 新币989,249元 | 38

裕廊西 | 125 – 155 | 24 – 38 | 新币785,601元 | 152

加冷/黄埔 | 140 – 158 | 32 – 40 | 新币1,155,689元 | 10

巴西立 | 141 – 169 | 30 – 34 | 新币909,011元 | 200

榜鹅 | 128 – 130 | 22 – 23 | 新币815,612元 | 43

女皇镇 | 142 – 150 | 31 – 33 | 新币1,281,417元 | 6

三巴旺 | 125 – 142 | 24 – 28 | 新币749,719元 | 108

盛港 | 125 – 144 | 23 – 28 | 新币840,014元 | 141

实龙岗 | 139 – 150 | 28 – 41 | 新币1,080,410元 | 26

淡滨尼 | 137 – 153 | 29 – 42 | 新币963,714元 | 113

大巴窑 | 144 – 146 | 33 – 37 | 新币1,172,000元 | 4

兀兰 | 130 – 192 | 25 – 41 | 新币940,938元 | 207

义顺 | 141 – 195 | 34 – 39 | 新币942,955元 | 48

*虽然此处看不出来，但最大的行政式排屋其实在蔡厝港。蔡厝港第64街第639至641座有少数215平方米（约2,314平方英尺）的高端排屋。不过它们可视为独特设计，据报该片区仅约有八个这样的单位。高面积部分来自类似露台的空间。过去一年这些单位均无成交，因此表中显示的最大面积仅为157平方米。

上述数据的若干观察

对正在寻觅行政式排屋的买家而言，以下几点值得注意：

价格大致分为三个大区间

淡滨尼与后港市场最为活跃

狭窄的建造时间窗口限制了楼龄带来的差异

多数行政式排屋的格局对年长买家需仔细考量

1. 价格大致分为三个大区间

总体来看，22个市镇中已有十个平均价格超过100万新元。可以说淡滨尼实际上也接近该水平，平均价为新币999,611元。

截至2026年8月，整个数据集中行政式排屋的平均总价为新币978,000元。

最亲民的行政式排屋主要集中在北区和西区。这些大体区域内的组屋市镇仍有低于100万新元的行政式排屋，大约在80万至90万新元。最亲民的行政式排屋似乎出现在裕廊西、蔡厝港、武吉巴督、裕廊东、兀兰和武吉班让。

以下市镇仍可见低于90万新元的行政式排屋：

裕廊西：新币803,000元

蔡厝港：新币859,000元

武吉巴督：新币872,000元

裕廊东：新币882,000元

兀兰：新币887,000元

武吉班让：新币888,000元

多数行政式排屋处于第二价格带，约在90万至110万新元。这些地点包括义顺、巴西立、淡滨尼、后港、勿洛、大巴窑、金文泰和实龙岗。

不出所料，最昂贵的行政式排屋位于更靠近市中心且高度成熟的地区。在宏茂桥、碧山、武吉知马和女皇镇，即便较便宜的选择，预期仍会高于110万新元。

话虽如此，宏茂桥和女皇镇的平均值并不太具代表性，因为我们分别只看到两宗和三宗交易。

2. 淡滨尼与后港市场最为活跃

淡滨尼与后港合计占数据中全部交易的逾四分之一（28%）。成交量最大的来自：

淡滨尼：146

后港：118

兀兰：72

武吉巴督：63

裕廊西：61

义顺：60

巴西立：59

碧山：54

实龙岗：53

不过需要指出，淡滨尼是特别大的市镇——因此从统计上看，最容易录得最多交易。

尽管如此，我们可以看到中部地区的行政式排屋不仅昂贵，市场上也更为稀缺。多数行政式排屋交易发生在更大的外围区域，在那里寻觅或许更有机会。

话虽如此，还有一些微观地段细节值得注意：

就勿洛而言，其行政式排屋存量有相当一部分位于勿洛蓄水池和加基武吉一带，而非靠近勿洛中心。可找到行政式排屋的勿洛蓄水池路第716、721和725座，靠近勿洛蓄水池地铁站（滨海市区线），

就后港而言，高文可算是一个溢价“子市场”。位于后港第21街的Kovan Green步行可达高文地铁站（东北线）。据报，那里一套148平方米的排屋在2025年12月以145万新元成交，远高于后港约101万新元的市镇均价。

实龙岗中心与实龙岗北的价格分歧同样不足为奇。第417、418、423和424座（实龙岗中心）一带的行政式排屋成交价约在新币980,000元至123万新元。相较之下，实龙岗北第一大道第125座148至155平方米的行政式排屋，近期售价约在新币880,000元至新币975,000元。

请注意，以上价格仅为市镇平均值，而同一市镇中最便利地段的价格可能出现显著偏离。

3. 狭窄的建造时间窗口限制了楼龄带来的差异

由于行政式排屋建造于相对狭窄的时间窗口内，我们看到的楼龄价格差异较少。

最早的行政式排屋约在1983年出现，并在1980年代中后期更广泛推出。建屋发展局随后在1990年代逐步淘汰这一户型，最后的行政式排屋组屋座约于1998至2000年竣工。

这意味着数据集中的行政式排屋几乎覆盖了整个生产周期。到2026年，即便最年轻的单位也已接近30年楼龄，而最老的单位地契仅剩约57年。

不过，地段远比楼龄更重要。例如：

盛港楼龄27年的行政式排屋平均价为新币971,571元。

碧山楼龄34至41年的行政式排屋平均价为127万新元。

金文泰楼龄41至42年的行政式排屋平均价为106万新元。

勿洛楼龄30至42年的行政式排屋平均价为105万新元。

这并非说地契折损不是因素。我们的重点是：并不存在真正意义上的“年轻行政式排屋”可与较老单位作比较。地段、稀缺性和需求，比10至15年的楼龄差距更重要。

若想找相对较新的行政式排屋，可关注盛港、武吉班让或兀兰等地。最年轻的行政式排屋集群之一位于三巴旺坎贝拉路第310座。这些单位的地契始于1998年。即便如此，较低成本更多是因地段，而非剩余地契年限。

4. 多数行政式排屋的格局对年长买家需仔细考量

标准行政式排屋格局将全部三间卧室放在上层，连同主人浴室和普通浴室。下层通常设有客厅与餐厅、厨房、阳台、杂用间或书房，以及一个普通厕所。这是一种将公共空间与私人空间分开的旧式布局理念。

但对年长住户而言，这会带来问题，因为进出卧室必须使用楼梯。部分行政式排屋变体在楼下设有书房或杂用间，业主会将其改造成小卧室。有时你可能找到前屋主已经这样装修过的单位。但应检查房间是否过小或通风不良，否则长期居住会不舒服。此外还要注意，楼下厕所可能没有淋浴设施。

截至2026年，行政式排屋更适合作为自住者的终点居所

随着时间推移，这更有可能成为行政式排屋的主导角色。今日买家为这些楼龄已在23至42年之间的单位支付接近或超过100万新元。在较长持有期内，剩余地契会持续缩短，最终影响融资、公积金使用，以及潜在买家群体的规模。

我们还注意到，截至2025年8月，政府已确认没有进一步选择性整体重建计划（SERS）项目的计划。首批自愿早期重建计划（VERS）预计要到2030年代才会展开，届时选定组屋楼龄将接近约70年。该计划预计不如SERS优厚，这对较老组屋（默认包括行政式排屋）的业主和买家应是一个顾虑。

因此，今日的行政式排屋买家不应依赖该物业的售房所得来资助二次搬迁，或显著充实退休金。也要顾及格局问题：若楼梯最终变得难以应付，你可能被迫在单位更老、潜在买家更难融资时出售。