Pinnacle @ Duxton unit fetches $1.393939 million, 2nd-highest psf for HDB flats

By EdgeProp Singapore

September 26, 2023 6:12 PM SGT

Pinnacle @ Duxton continues to defy expectations in terms of its resale HDB prices

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HDB projects with most expensive psf in Central Area

SINGAPORE (EDGEPROP) - The Pinnacle @ Duxton continues to be in the spotlight for its record-breaking resale transactions due to its sustained demand and prime location in Tanjong Pagar. Last month, a 4-room 1,011-sqft unit at block 1B Cantonment Road set a new record for the highest-ever per-square-foot (psf) price for a resale HDB flat, selling for $1,394 psf. The unit was sold for $1.41 million.

This month, another 4-room unit of equivalent size in block 1A Cantonment Road followed suit, achieving the second-highest PSF ever recorded at $1,378 psf. The unit was sold for the auspicious-sounding amount of $1.393939 million. Both units are located on high floors, between the 49th to 51st storeys, offering expansive views of the city.

Recent transactions at Pinnacle @ Duxton: EdgeProp Research

Constructed and completed in 2011, Pinnacle @ Duxton has consistently been at the forefront of high-value transactions in the HDB resale market. To date, a total of five transactions at this location have surpassed the $1,300 psf mark, underscoring the substantial appeal and value of properties in this development.

The average resale prices at Pinnacle @ Duxton have notably exceeded initial expectations, rising by 44% since it reached the Minimum Occupancy Period (MOP) in 2014. This increase surpasses the average nationwide resale HDB price growth of 33% in the same period, reflecting the exceptional value and high demand for properties in this iconic development.

Price trends for Pinnacle @ Duxton vs. resale HDBs nationwide: EdgeProp Market Trends

Pinnacle @ Duxton’s unique appeal is attributed to its central location, unique architectural design, and the quality of living it offers. Its location in Tanjong Pagar is highly coveted, being in close proximity to a plethora of amenities and the city center, making it an attractive choice for resale buyers.