SINGAPORE - A Pinnacle@Duxton flat was sold earlier this month (September) for $1.12 million - possibly the highest price ever fetched by a Housing Board unit.
The five-room flat, spanning 106 sq m, is located somewhere on the 43rd to 45th storey of the premium public housing project.
At the project's launch in 2004, it was well-received partly because of its prime location in Tanjong Pagar. Then, new five-room flats were priced from $345,100 to $439,400.
Many flat owners there have since reaped handsome profits since December 2014, when they began to meet their five-year minimum occupation period.
Since a year ago, at least 10 Pinnacle flats have sold for over $1 million, including the latest transaction. These have all been five-roomers and mostly located on high floors.
Other HDB flats in mature housing estates have also broken the million-dollar mark on the market.
In April last year, for instance, a 28-year-old executive maisonette in Bishan, measuring 149 sq m, changed hands for $1.05 million.
More recently in August this year, a flat at Clementi Towers in Clementi Avenue 3 fetched $1,005,000. The 18th storey flat measured 116 sq m.