Five-room flat at Pinnacle@Duxton goes for record $1.06m

SINGAPORE - Resale prices for units at The Pinnacle@Duxton premium HDB project have set a new record, with two five-room units being sold for more than $1 million each in transactions completed this month.

One unit on the 28th to 30th floor was sold for $1.06m, while the other on the 46th to 48th floor fetched $1.05m, according the Housing Board website. The size of each unit is 107 sq m.

There were at least four other five-room units which were sold between $1m and $1.04m this year, according to Shin Min Daily News.

Four-room units are also popular, said the evening daily. At least six such units were each sold for $910,000 and above this year.

Units there are prized for their central location, and those on higher floors are known for their views, say property agents.

Transactions at The Pinnacle@Duxton have set new records after the first batch of owners fulfilled the five-year minimum occupation period in December last year and were allowed to sell their flats.

At the project's launch in 2004, new four-room flats were priced from $289,200 to $380,900, and five-roomers from $345,100 to $439,400.

As this is a unique, premium project, experts do not expect its sky-high prices to have much effect on the overall HDB resale market.