A four-room HDB flat at The Pinnacle@Duxton measuring 93 sqm (approx. 1,000 sq ft) was recently sold for $990,000, making it the most expensive four-room resale flat to date, reported Shin Min Daily News.
Situated on the 43rd to 45th storey, the unit was sold in September.
Despite the property cooling measures, 20 four-room flats were sold this year, five of which went for $950,000, while seven five-room flats were sold for at least $1 million each.
Charles Chua, Head of Investment Sales at PropNex Realty, noted that it is only a matter of time before four-room Pinnacle@Duxton flats are sold for $1 million.
“Pinnacle@Duxton flats are benchmarked against private property prices, not public housing. If a buyer has a budget of $1 million, instead of buying a private property in Pasir Ris, he might find a unit near the city to be more attractive,” he said.
Meanwhile, a five-room flat has emerged as the most expensive unit sold at the Pinnacle@Duxton this year at $1.06 million.
Transactions at the said development have set new records this year following the fulfillment of the five-year minimum occupation period in December 2014 by the first batch of owners.
Prices of new four-room flats ranged from $289,200 to $380,900 during the project’s launch in 2004, while five-room flats were priced from $345,100 to $439,400, reported The Straits Times.
Image: The Pinnacle@Duxton. (Photo by ProjectManhattan: Wikimedia Commons)