Pinnacle@Duxton five-room flat sold for record S$1.63 million amid rising resale demand
A five-room flat at Pinnacle@Duxton has been sold for a record S$1.63 million, surpassing the previous benchmark set in 2025 as demand for premium public housing in Singapore’s city fringe remains strong.
- A Pinnacle@Duxton five-room flat set a new resale record at S$1.63 million.
- The high-floor unit achieved about S$1,442 psf with 84 years remaining on its lease.
- Price growth at the project continues to outpace nearby resale HDB developments.
SINGAPORE: A five-room flat at Pinnacle@Duxton has been sold for S$1.63 million, setting a new resale price record for a five-room unit at the landmark Housing and Development Board (HDB) project.
According to property portal 99.co, the transaction involved a unit at Block 1B Cantonment Road and was recorded within the past week.
The sale surpassed the previous record of S$1.6 million set by another five-room unit in the same development in August 2025.
High-floor unit commands premium
HDB resale records showed the latest transaction involved a unit located between the 43rd and 45th storeys.
The flat spans around 1,130 sq ft, translating to approximately S$1,442 per square foot (psf).
The unit still has around 84 years remaining on its lease, which began in 2011.
The latest benchmark has again placed Pinnacle@Duxton in focus as one of Singapore’s most recognisable public housing developments.
The project has long attracted attention for its central location, distinctive architecture and growing list of million-dollar resale transactions.
Strong appreciation since launch
According to 99.co, Pinnacle@Duxton was launched in 2004 under the tagline “The Peak of City Living”.
Higher-floor five-room units were initially estimated to cost between S$555,000 and S$560,000 at launch.
Owners who purchased units during the initial launch period could now potentially see gains exceeding S$900,000.
Demand for the development has remained resilient due to its relatively young lease profile and location near Singapore’s central business district.
The project is situated near several MRT stations and expressways, further boosting accessibility.
The 1,848-unit development also features condominium-style facilities uncommon in public housing projects.
These include sky gardens, fitness facilities, sports courts, childcare services and the project’s public sky bridge overlooking the city skyline.
Pricing gap widens sharply
99.co noted that average psf prices for five-room units at Pinnacle@Duxton have risen by almost 38% over the past five years.
The pricing gap between the project and surrounding resale HDB developments has also widened considerably.
In 2021, average psf prices for five-room units at Pinnacle@Duxton were around 9% higher than the Central Area average.
Compared with other five-room units within District 2, the premium stood at roughly 14%.
By 2026, the premium had expanded significantly.
Five-room units at Pinnacle@Duxton are now commanding prices approximately 24% higher than the Central Area average.
The gap compared with other District 2 resale flats has also widened to around 34%.
According to 99.co, the growing price divergence suggests buyers increasingly view Pinnacle@Duxton as a distinct housing category rather than a conventional resale HDB project.
Buyer profile may be shifting
The property portal suggested that buyers entering the project at prices above S$1.4 million or S$1.5 million may differ from the traditional HDB upgrader profile.
Some buyers may instead be comparing such units with Executive Condominiums or private residential properties.
Despite the new record for Pinnacle@Duxton, the transaction remains below Singapore’s overall HDB resale record.
The national benchmark currently stands at S$1.73 million for a unit at SkyOasis @ Dawson, which was sold in June 2024.
More recently, a five-room unit at City Vue@Henderson along Henderson Road changed hands for S$1.728 million in April 2026.
Million-dollar deals continue to rise
Despite a slight decline in overall HDB prices, high-value transactions have continued to increase.
HDB resale prices fell by 0.1 per cent quarter-on-quarter in the first quarter of 2026. However, the number of million-dollar deals rose during the same period.
Data from PropNex showed that at least 412 resale flats were sold for S$1 million or more in Q1 2026.
This marked an increase of nearly 18 per cent compared with the 350 such transactions recorded in the previous quarter.
The transactions included 190 four-room flats, 143 five-room flats, 78 executive flats and one multi-generation unit.
Approximately 15 per cent of these sales involved flats with a remaining lease of 94 years or more. This suggests that many of these units had only recently met the five-year minimum occupation period requirement.
Such flats were located in developments including Northshore StraitsView in Punggol, SkyParc @ Dawson and projects in the Bidadari estate.
Chee Hong Tat: Around 6% of HDB resale flats crossed S$1m in 2025
During the Parliamentary sitting on 7 April, National Development Minister Chee Hong Tat said about 6 per cent of HDB resale flats were transacted at above S$1 million in 2025, in response to query filed by Workers’ Party MP Abdul Muhaimin Abdul Malik.
Abdul Muhaimin asked whether the Ministry is concerned that million-dollar resale flat transactions surged by 54.7% to 1,594 units in 2025, even as overall price growth moderated to 2.9%, and what measures the Government is considering to moderate such transactions and safeguard public confidence in public housing affordability.
Chee emphasised that resale flat prices are determined by market forces, based on agreements between buyers and sellers and influenced by location and flat attributes.
He added that despite the rise in million-dollar transactions, the resale market continues to offer a wide range of options catering to different budgets and needs.
