Pinnacle@Duxton 5-room HDB flat sold for record S$1.58 million

A five-room Housing and Development Board (HDB) flat located at The Pinnacle @ Duxton was sold for S$1.58 million in June 2025.

According to 99.co, the transaction set "a fresh record for the highest resale price ever" in the central region.

The unit, located at Block 1D Cantonment Road, is 1,130 sq ft.

This translates to S$1,398 per sq ft.

At the time of the transaction, the unit had 84 years and eight months left on its lease.

Factors behind transaction price

According to 99.co, one factor that might have contributed to the unit's record transaction price was its high-floor position.

Situated between the 34th and 36th floors of the 50-storey block, the flat is said to offer "sweeping, unblocked views of the city skyline" for its residents.

Additionally, The Pinnacle @ Duxton has been one of the most popular HDB estates in Singapore, thanks to its central location and unique design.

Besides offering amenities, such as fitness stations, jogging tracks, and communal pavilions, the estate also allows residents to enjoy panoramic views of the city on its sky gardens, located on the 26th and 50th floors.

In March 2025, the estate made headlines after a four-room flat at Block 1C Cantonment Road was sold at a record-breaking S$1.518 million.

At the time, the flat's owner told Shin Min Daily News that she and her husband bought the unit, which spans 94 sq m (1,011 sqft), 15 years ago at S$378,000.

HDB flats with very high resale prices 'a minority'

At a media briefing on Aug. 20, 2024, then National Development Minister Desmond Lee shared that while record HDB resale prices frequently made headlines, public housing with very high resale prices are "a very small proportion of all transactions".

Lee added that such transactions make up only 0.5 per cent of all four-room or smaller flats transacted in the last two years, are very central, and are well served by transport connectivity and comprehensive amenities.

Lee noted that more than half of them are also located on very high floors, above 30 storeys, and have good views.

However, they have caused Singaporeans to be concerned about "the affordability of resale flats as a whole":

"Flat sellers who are reading such news raise their expectations about how much the flat could bring, while flat buyers become anxious to secure flats before prices get higher.

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."

Lee also noted that flats that cross the million-dollar mark make up about 2 per cent of all resale transactions over the last 1.5 years.

Top image via Google Maps