A five-room flat just sold for S$1.63 million. Let that sink in. We’re talking about an HDB flat — public housing — fetching a price that would make some private condo owners sweat.
Pinnacle@Duxton has done it again. In May 2026, a five-room unit on a high floor — somewhere between the 45th and 51st storey — traded hands at S$1.63 million, smashing the development’s own previous record of S$1.515 million set just a year earlier.
That’s not a small jump. That’s the kind of price movement you see with COE premiums — sudden, sharp, and impossible to ignore.
The numbers tell a clear story. At approximately S$1,460 per square foot across 1,130 sq ft, this unit is now Singapore’s second-most expensive HDB resale ever, trailing only the S$1.659 million Dawson Road flat sold in June 2025.
And here’s the kicker — that Dawson Road unit was bigger *and* had a longer lease, yet its price per square foot was only S$1,263 psf. Pinnacle@Duxton commanded more per square foot. That’s the location premium doing heavy lifting.
Why does this place command such prices? Think about it like a prime hawker stall with a perpetual queue. The location — walking distance to Tanjong Pagar MRT, right on the CBD fringe, another MRT line coming by 2027 — creates demand that doesn’t cool down. Cantonment MRT Station on the Circle Line is expected to complete next year, adding yet another layer of connectivity to an already well-served address. The development itself is no small operation — 1,848 total units spread across a 50-storey estate completed in 2009, yet available resale units remain scarce enough to keep prices climbing.
The unit also carries roughly 85 years of remaining lease, which buyers treat like gold. Short leases make banks nervous. Long leases make buyers confident.
The HDB valuation sat at about S$1.41 million. The buyer paid S$220,000 above that. Voluntarily. That’s not desperation — that’s conviction.
This pattern mirrors trends seen across other mature estates, where scarcity of available units continues to push resale prices to levels once thought impossible for public housing.
Key takeaways worth remembering:
- High floor + long lease + central location = premium pricing
- The gap between HDB resale and private condo is quietly shrinking
- Lease decay is real — buyers are paying up now to avoid buying a depreciating asset later
Records like this don’t happen in a vacuum. They signal where the market’s head is at.
