Pinnacle @ Duxton hits new HDB resale high with S$1.58 million 5-room flat in Central Area

SINGAPORR: The Pinnacle @ Duxton has once again broken new ground in the HDB resale market, setting a fresh record in Singapore’s Central Area. A 5-room unit at Block 1D Cantonment Road was sold for S$1.58 million, according to a report by 99.co on 23 June 2025. The transaction marks the highest recorded resale price for a public housing unit in the Central Area to date. The flat, located between the 34th and 36th storeys of the 50-storey development, spans 1,130 square feet and commands sweeping, unblocked views of Singapore’s skyline. Based on its floor area, the sale works out to S$1,398 per square foot — a new national record for a 5-room HDB flat in terms of price per square foot (psf). The unit, with its 99-year lease starting in 2011, still has approximately 84 years and 8 months remaining. All the top psf resale prices for 5-room HDB units nationwide are currently held by flats at The Pinnacle @ Duxton. However, in terms of absolute price, the national record remains a S$1.73 million unit at SkyOasis @ Dawson, sold in June 2024. That is followed by a S$1.658 million 5-room loft unit in Queenstown, which changed hands in early June 2025. Other transactions at The Pinnacle @ Duxton in 2025 have remained strong. In June alone, another 5-room unit at Block 1F was sold for S$1.47 million. Between February and May, three additional 5-room flats fetched between S$1.43 million and S$1.55 million.

Iconic city-centre development maintains strong resale appeal

Four-room flats at the development have also seen high prices. In March 2025, a 49th-floor unit at Block 1C sold for S$1.518 million. The seller had originally purchased the flat 15 years earlier for S$378,000. In January and February 2025, two other 4-room flats were each sold for S$1.33 million. December 2024 saw eight similar units transacted at prices ranging from S$1.25 million to S$1.43 million. The Pinnacle @ Duxton, completed in 2011, is a landmark 99-year leasehold HDB project situated in Tanjong Pagar. Its prime location, unique design including two skybridges, and proximity to the Central Business District continue to drive its status as one of Singapore’s most desirable public housing developments.

Minister: high-value resale flats still a minority

At a media briefing on 20 August 2024, then-National Development Minister Desmond Lee addressed growing public concern about rising resale flat prices. He noted that flats transacting at such high prices make up only 0.5 per cent of all four-room or smaller flat sales over the past two years. “These flats are usually in central locations, high floors, and close to MRT stations and amenities,” Lee said. Lee warned that such headline-grabbing prices could distort public expectations. “Flat sellers who are reading such news raise their expectations, while flat buyers become anxious to secure flats before prices get higher,” he said during the 5 March 2025 Parliamentary budget debate. “If we are not careful, such market dynamics can cause the resale market to run out of line with economic fundamentals and cause a bubble.”

2024 saw record HDB resale activity and price growth

According to HDB data released on 24 January, resale flat prices rose by 9.7% in 2024. This increase follows a 4.9% rise in 2023 and a 10.4% surge in 2022. Despite strong demand, resale transactions in the last quarter of 2024 fell by 21.1%, though the total number of units sold for the year reached 28,986. A record 1,035 resale flats crossed the million-dollar mark in 2024, indicating strong interest in well-located, high-specification units.