In April 2023, a four-room unit at Pinnacle@Duxton has sold for a record-breaking $1.4 million, surpassing the previous record set by a five-room unit at the same development less than a month ago.
The 95 square metre (1,023 square feet) unit is located on the 46-48th floor of Block 1C Cantonment Road, making it the most expensive four-room Housing and Development Board (HDB) resale flat in Singapore based on both price and price per-square-foot (psf).
The previous most expensive 4-room flat is a 1,001 sqft 4-room (Type S1) flat at the 46-48th floor of Blk 1D of Pinnacle@Duxton sold for S$1.37 million (S$1,369 psf) in October 2022.
In the Budget 2023, Deputy Prime Minister and Finance Minister Lawrence Wong announced the housing grants for first-time families buying resale flats would increase by up to S$30,000.
If the buyer is a first-time buyer, the family would probably pay the same as the family who bought in October last year if we factor in the increased grant by the Government.
According to HDB’s data, 4-room flats above 24 floors at Pinnacle@Duxton have all been sold above the S$1 million mark, and those below 24 floors are sold at S$850k-S$995k in the past year.
While the 5-room flats at Pinnacle@Duxton were sold for about the same price.
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.
