While setting a new benchmark in Singapore’s premium public housing market, a four-room flat at the iconic Pinnacle@Duxton has sold for an impressive S$1.518 million, just S$2,000 below its initial asking price of S$1.52 million. The high-floor unit, situated on the 49th story of Block 1C with 85 years and two months remaining on its lease, commands panoramic views of Chinatown and Singapore’s central business district skyline.
The transaction represents a substantial return on investment for the seller, who purchased the property 15 years ago for S$378,000, yielding a capital appreciation of approximately 301%. The new owners, a 41-year-old local couple with a 12-year-old son, cited the continuous cool breeze flowing through the apartment as a significant factor in their purchasing decision. The property’s location near one of the two unique skybridges that connect all seven blocks of the development offers residents exceptional community amenities and access.
The 301% profit margin delivers life-changing returns while the new family enjoys the luxury of natural ventilation.
The buyers paid S$108,000 above the official Housing Development Board valuation of S$1.41 million, requiring an additional cash outlay of S$18,000 beyond typical financing arrangements. This record-setting transaction reflects the broader trend of rising household incomes expanding the pool of potential property buyers across market segments.
This record-setting sale occurs within a robust resale market context, where eight comparable units traded between S$1.25 million and S$1.43 million in December 2024, while two similar properties sold for S$1.33 million each in early 2025. The 50-story residential development has consistently established price benchmarks in Singapore’s million-dollar public housing segment, which constituted approximately 2% of all HDB resale transactions in 2024. The Pinnacle@Duxton’s unique appeal stems partly from its status as the world’s tallest public residential buildings with seven interconnected towers.
The broader HDB resale market experienced a 9.7% price increase in 2024, following a more moderate 4.9% rise in 2023, down from the 10.4% surge recorded in 2022. According to Singapore’s National Development Minister, the price escalation stemmed partially from construction delays caused by the COVID-19 pandemic, prompting the implementation of tighter financing restrictions and additional buyer stamp duties.
Market analysts anticipate price stabilization as supply increases, with 8,000 HDB flats reaching minimum occupation period in 2025, followed by 13,500 units in 2026 and 19,500 units projected for 2028. The keys to the record-setting Pinnacle@Duxton unit will be handed over to the new owners in May 2025.
