Pinnacle @ Duxton’s four-room HDB flat sold for S$1.41 million

SINGAPORE: The spotlight is once again on Pinnacle @ Duxton, as a recent resale of a four-room unit has broken records, fetching an astounding S$1.41 million (approximately US$1.05 million).

This transaction not only sets a new benchmark for Pinnacle @ Duxton but also marks the first time a resale HDB flat in this location has surpassed the S$1,400 per square foot mark.

Veroy Chua, associate district director at PropNex Realty, facilitated this notable sale, according to Edgeprop.

The buyer reportedly finalized the purchase of the 1,001 sq ft unit located on the 46th floor on 29 Oct, amounting to $1,409 per square foot based on the floor area.

In September of this year, EdgeProp Singapore reported the sale of a 1,011 sq ft four-room flat, which previously set the psf-price record in the development at $1,394 psf, equating to an absolute price of $1.41 million.

Toa Payoh’s five-room resale flat sets Singapore’s price record at S$1.56 million

In Singapore, the record for the priciest resale flat in Singapore is held by a five-room flat in Toa Payoh, which was sold for S$1.56 million in November.

ERA, a real estate agency reported that the unit is situated at The Peak, a Design, Build, and Sell Scheme development situated along Lorong 1A in Toa Payoh.

Meanwhile, the record-holder for 4-room HDB units remains with a property in Tiong Bahru.

The unit in Blk 50 Moh Guan Terrace in Tiong Bahru was sold for a record-breaking S$1.5 million in June this year, marking it the most expensive HDB resale flat ever sold.

Despite being a 50-year-old property, with its lease commencing in 1973 and a remaining lease of 48 years and 8 months, the flat’s high price tag is unexpected considering that demand and prices are typically lower for homes with a shorter remaining lease.

In 2020, there were 321 transactions for 4-room HDB units, which marginally decreased to 310 in 2021 and 309 in 2022.

As of the current year, 295 transactions have been recorded, suggesting a potential stabilization in the market—although it should be noted that these numbers might still increase in the remaining two months.

Pinnacle @ Duxton reigns supreme in million-dollar HDB resale transactions

Since its completion in 2011, Pinnacle @ Duxton has consistently been at the forefront of high-value transactions within the HDB resale market, setting the benchmark for million-dollar deals.

Nestled along Cantonment Road in the Tanjong Pagar area, Pinnacle @ Duxton enjoys a prime, central location, and its close proximity to the Central Business District fuels the unwavering demand for its available units.

Pinnacle@Duxton is the first 50-storey public housing project in Singapore, and also the first in the world with two sky bridges linking seven towers.

There are 1,848 units in total – 1,232 4-room (Type S1) units and 616 5-room (Type S2) units.

The flats were released for sale – with the tagline “The Peak of City Living” – under the HDB’s Build-to-Order scheme on 29 May 2004.

Smaller flats measuring 93 to 97 sq m were priced from S$289,200 to S$380,900, while bigger ones measuring 105 to 108 sq m were priced between S$345,100 and S$439,400.

A relaunch of the remaining 111 units, with higher prices of S$545,000 to S$645,800, took place in September 2008.