In a landmark transaction that underscores the robust nature of Singapore's real estate market, a four-room flat at Pinnacle@Duxton has been sold for a record S$1.518 million. The sellers, who purchased the unit 15 years ago for S$378,000, have realized a remarkable profit of S$1.14 million.
Property Details and Sale Highlights
- Location: 49th floor of Block 1C, Pinnacle@Duxton
- Size: 94 square meters
- Original Purchase Price (2005): S$378,000
- Resale Price (2025): S$1.518 million
- Profit Realized: S$1.14 million
The unit's high-floor location offers panoramic views of Chinatown and the city, contributing to its premium resale value.
Expert Insights on the Sale
Real estate analysts attribute the record-breaking sale to several key factors:
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Prime Location: Situated in Singapore's city center, Pinnacle@Duxton is in close proximity to the Central Business District, enhancing its appeal to buyers seeking convenience and accessibility.
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Unique Architectural Features: The development boasts two skybridges and offers panoramic city views, distinguishing it from other HDB projects.
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Limited Supply: The scarcity of similar high-floor units in mature estates contributes to higher demand and competitive pricing.
Christine Sun, Chief Researcher and Strategist at property agency OrangeTee & Tie, noted that the strong prices of nearby private residences also helped maintain the flat’s value.
Market Trends and Future Outlook
This transaction is emblematic of a broader trend in Singapore's HDB resale market. In 2024, HDB resale prices experienced a 9.7% increase, with a record 1,035 flats sold for at least S$1 million. However, analysts anticipate a moderation in price growth for 2025, projecting an estimated 4% to 6% increase due to a tightening supply of flats reaching their Minimum Occupation Period (MOP).
Key Takeaways:
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Record-Breaking Sale:
- A four-room flat at Pinnacle@Duxton sold for S$1.518 million, setting a new benchmark in the HDB resale market.
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Significant Appreciation:
- The sellers achieved a profit of S$1.14 million over 15 years, highlighting the potential for substantial returns in Singapore's real estate sector.
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Market Dynamics:
- While high-value transactions are notable, they represent a small fraction of total resale activities, indicating a diverse and resilient market.
If you're considering capitalizing on the current market dynamics, now is an opportune time to explore your options. Whether you're looking to buy, sell, or simply gain insights into the real estate landscape, professional guidance can make all the difference. Reach out today to discuss how you can navigate and benefit from Singapore's evolving property market.