Queenstown 5-room HDB flat with 94 years left on lease sold for record S$1.818 million

A five-room resale flat at SkyParc @ Dawson in Queenstown has been sold for S$1.818 million in October 2026, setting a new record resale price for the flat type in Singapore.

The unit at Block 96 Dawson Road is located between the 40th and 42nd floors, according to the Housing and Development Board (HDB) website for checking resale flat prices.

It has a remaining lease of approximately 94 years.

The unit spans approximately 1,195 sq ft, which means the sale was about S$1,522 per square foot.

The previous sale record was a five-room HDB flat at City Vue @ Henderson in Redhill, which was sold for S$1.728 million in April 2026.

The unit spans 1,216 square foot, which means the sale was about S$1,421 per square foot.

SkyParc @ Dawson

SkyParc @ Dawson was completed in 2020, in the mature estate of Queenstown.

It was built as a dedicated replacement housing site under the Selective En bloc Redevelopment Scheme (SERS).

The estate is within walking distance from Queenstown MRT station.

Redhill MRT station is also nearby.

It has 810 residential units across three blocks, which are 34 to 43 storeys high.

HDB flats with very high resale prices 'a minority'

In an April 2026 parliamentary reply, the Ministry of National Development (MND) said about 6 per cent of resale flats transacted above S$1 million in 2025.

Based on the flash estimate for the first quarter of 2026, resale prices declined slightly by 0.1 per cent.

MND added that the resale market continues to provide a wide range of flats at different price points, catering to different budgets and needs.

In 2025, there were four-room resale flats with leases of 70 years or longer in Tampines and Punggol going for around S$650,000 to S$700,000.

In Sembawang and Yishun, such flats were available below S$600,000, MND added, while in Jurong West and Woodlands, there were options below S$550,000.

Eligible first-time resale buyers can get housing grants of up to S$230,000, further reducing the amounts they need to pay, MND said.

Previously, at a media briefing on Aug. 20, 2024, then-National Development Minister Desmond Lee shared that HDB flats with very high resale prices make up "a very small proportion of all transactions", even though record HDB resale prices have frequently made headlines.

Lee added at the time that such transactions made 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 then that flats that cross the million-dollar mark made up about 2 per cent of all resale transactions over the last 1.5 years at the time.