A five-room flat at The Pinnacle @ Duxton has broken records as the most expensive resale HDB unit in Singapore’s Central Area, selling for $1.701 million this week. The 1,151 sq ft property, located between the 28th and 30th floors of 1B Cantonment Road, achieved a price of $1,477 per sq ft, exceeding the previous Central Area record by $71,000. The prior record-holder—a smaller unit in the same block—sold for $1.63 million in May 2026.
Mid-tier floors now command record prices
The transaction stands out because the unit sits on mid-level floors rather than near the top of the 50-story tower. The previous record in this block belonged to a unit on the 43rd to 45th floors, yet the new record flat is only 22 sq ft larger (1,151 vs. 1,130 sq ft). That additional space added $71,000 to the price, equating to roughly $3,249 per sq ft—a premium even by Singapore’s most expensive HDB standards.
Price differences between floors at The Pinnacle @ Duxton have shrunk over time. A 1,130 sq ft unit on the 28th to 30th floors sold for $1.42 million in December 2023, while a similar unit fetched $1.55 million in October 2025—a $130,000 increase in just 21 months. The latest sale indicates that factors like unit size, orientation, or buyer urgency now outweigh traditional floor-level discounts.
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Scarcity and location outweigh height in pricing
The Pinnacle @ Duxton, completed in 2009, has long been an anomaly in Singapore’s HDB resale market. Its 88 five-room flats in Block 1B represent fewer than half the four-room units in the same block, and the entire development retains 83 years of lease remaining. This lease length preserves financing flexibility, avoiding restrictions that apply when leases fall below 60 years.
The shortage of five-room flats in the Central Area has driven demand to the point where all five highest-priced five-room resale transactions in the district originated from The Pinnacle @ Duxton. The latest sale marks the fifth-highest in the area and the first to exceed $1.7 million. The previous four records, ranging from $1.58 million to $1.63 million—were set between 2025 and 2026, with floors spanning from the 28th to the 51st. This price compression across such a wide floor range demonstrates that location and unit quality now matter more than height.
This trend extends beyond The Pinnacle @ Duxton. Older flats in the Central Area, such as those on Rowell Road or Veerasamy Road, sold for $1.12 million to $1.15 million in August 2026, despite similar sizes. The median resale price for five-room flats in the area over the past year stands at $1.473 million, but The Pinnacle @ Duxton units consistently trade above this benchmark, often by $200,000 or more. The premium reflects both the development’s prestige and the limited supply of comparable flats.
Market shifts and future developments
Singapore’s HDB resale market has seen a rise in million-dollar transactions this year, partly due to the government removing the 15-month wait-out period for private homeowners looking to downgrade. The $1.701 million sale may signal more private property owners cashing out into centrally located HDB flats, particularly in areas like Cantonment or Tanjong Pagar, where demand for space and proximity to amenities remains strong.
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A new 60-story BTO project at Pearl’s Hill, set to become Singapore’s tallest HDB development, will soon enter the market. While it will not include five-room flats, a trend in recent BTO launches, its scale and location could divert buyers from resale options like The Pinnacle @ Duxton. For now, though, the development’s 83-year lease and limited five-room supply ensure it remains a top-tier choice for buyers willing to pay premium prices.
The broader trend is evident: at The Pinnacle @ Duxton, floor level no longer determines value. Instead, scarcity, location, and timing dictate pricing. The latest sale confirms that even mid-tier units can achieve record prices when demand exceeds supply, and when buyers anticipate long-term value in a development with decades of lease remaining.
New projects introduce trade-offs
The upcoming Pearl’s Hill BTO will introduce a new consideration: height without the lease certainty of older developments. While its units may start at $218,000 for a two-room flexi, buyers face a 10-year minimum occupation period (MOP), locking them into a longer commitment. For those prioritizing flexibility or avoiding MOP restrictions, The Pinnacle @ Duxton remains an alternative, despite its rising prices.
