Recently, we shared news of the all-time highest transaction in Pinnacle@Duxton for S$1.515M. Barely a month later, this iconic HDB development is making headlines again with another record-breaking sale – the third highest in its history so far:
- The S$1,450,000 Pinnacle@Duxton sale
- Pinnacle@Duxton price appreciation since launch
- Million-dollar units at Pinnacle@Duxton
- Why is Pinnacle@Duxton so different from other HDBs?
- Pinnacle@Duxton: A high-value investment opportunity?
The S$1,450,000 Pinnacle@Duxton sale
You’ll find the unit situated in Block 1C, perched between the towering 46th to 48th floors. With an expansive 1,001 square foot interior, the S$1.45M residence commanded a S$1,448 per square foot (psf).
Adding to the allure, a considerable 85 years and 8 months remain on the 99-year lease tenure – which commenced in 2011.
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Pinnacle@Duxton price appreciation since launch
For those following Pinnacle@Duxton’s price trends, this recent sale might not come as a complete surprise. Just in January of this year, another unit sold for S$1.45 million – however, that particular unit was a larger 5-room unit (Type S2), resulting in a psf of S$1,283. When compared to the current 4-room unit sale, it seems like the psf for this month’s transaction is a significant 12.86% higher.
To put this into perspective, let’s rewind to the launch of Pinnacle@Duxton in 2004. During phase one, a total of 528 units across two blocks were offered, with two flat types available: Type S1 (ranging from 93 to 97 square metres) and Type S2 (ranging from 105 to 108 square metres). The launch prices for these units were between S$289,200 and S$439,400.
This means if the current unit launched at S$289,200, this would translate to a potential capital gain of approximately 401.38%. On the other hand, if the unit was purchased at the highest launch price of S$380,900, the capital gain would still be impressive at around 280.68%.
While these high price points are certainly noteworthy, it’s important to remember that HDB units come with a Minimum Occupation Period (MOP) of 5 years before they can be sold on the open market. And since Pinnacle@Duxton launched in 2011, this unit has likely changed hands at least once before the current sale. Therefore, the capital gain wouldn’t be solely for one owner but potentially split between two owners.
Looking for a property close to an MRT station of your choice? Check out 99.co’s MRT map here.
Million-dollar units at Pinnacle@Duxton
If the impressive capital gain figures we discussed piqued your interest, let’s take a closer look at the overall million-dollar transaction trends for Pinnacle@Duxton.
So far, there has only been one transaction that has surpassed the S$1.5 million mark. However, there have been several others that have come close, all exceeding the S$1.4 million mark:
| Block | Floor | Area (sqft) | Transaction price | Price per square foot (psf) | Flat type |
| 1C | 37-39 | 1,141 | S$1.515M | S$1,327 | 5-Room |
| 1D | 28-30 | 1,152 | S$1.48M | S$1,284 | 5-Room |
| 1C | 46-48 | 1,001 | S$1.45M | S$1,448 | 4-Room |
| 1A | 46-48 | 1,130 | S$1.45M | S$1,283 | 5-Room |
| 1C | 43-45 | 1,141 | S$1.439M | S$1,261 | 5-Room |
| 1C | 37-39 | 1,152 | S$1.425M | S$1,236 | 5-Room |
| 1B | 28-30 | 1,130 | S$1.42M | S$1,256 | 5-Room |
| 1C | 46-48 | 1,001 | S$1.411M | S$1,409 | 4-Room |
| 1B | 49-51 | 1,012 | S$1.41M | S$1,393 | 4-Room |
| 1C | 46-48 | 1,023 | S$1.4M | S$1,368 | 4-Room |
| 1G | 40-42 | 1,141 | S$1.4M | S$1,226 | 5-Room |
| 1F | 31-33 | 1,141 | S$1.4M | S$1,226 | 5-Room |
| 1G | 37-39 | 1,141 | S$1.4M | S$1,226 | 5-Room |
Moving down the pipeline, there are 21 transactions at S$1.3M, 50 at S$1.2M, and a staggering 144 units sold for over S$1M. This equals a total of 228 million-dollar transactions in Pinnacle@Duxton.
Looking for HDB flats that will MOP this year? Check out our article here: Full list of BTO projects hitting MOP in 2024/2025 & Our top picks near the MRT
Why is Pinnacle@Duxton so different from other HDBs?
Seeing Pinnacle@Duxton’s name associated with high price tags likely doesn’t come as a surprise to those following the Singapore property market. But what exactly makes this HDB development so unique?
Pinnacle@Duxton stands out due to its groundbreaking design and its role in Singapore’s urban renewal strategy. Here’s a closer look at its key features:
- International design competition: Back in 2001, the Urban Redevelopment Authority (URA) held an international design competition to commemorate the historical significance of the site and to push the boundaries of public housing design. The winning design, titled “Sky Houses: Flying Green,” prioritises high-density living with a focus on resident lifestyle and aspirations.
- Award-winning architecture: The iconic design features seven connected towers with sky gardens on the 26th and 50th floors, offering panoramic city views and green spaces for residents. This innovative concept earned Pinnacle@Duxton numerous awards, including “World’s Best Housing Development” at the World Architecture Festival in 2010.
- Condo-like features: Targeted at young couples and professionals, the units at Pinnacle@Duxton boast features typically associated with condominiums rather than standard HDB flats. Residents enjoy exclusive access to sky gardens, fitness stations, pavilions, and jogging tracks within the development.
- Prime location: Situated in Singapore’s city centre, next to the business district, Pinnacle@Duxton offers excellent accessibility and proximity to amenities. This prime location adds significant value to the development.
- Limited availability: With only 1,848 units across seven towers, Pinnacle@Duxton offers a limited selection compared to other HDB estates. This exclusivity contributes to its high demand and property values.
Interested in upcoming new launches for the year? Take a look at your options here: 8 new launches expected in Q2 of 2024
Pinnacle@Duxton: A high-value investment opportunity?
The string of million-dollar transactions at Pinnacle@Duxton raises the question: is it a good investment opportunity? While the high price points are undeniably attractive, it’s important to consider several factors:
- Future price trends: Our property market is known for its fluctuations. Predicting future price trends for Pinnacle@Duxton, or any property for that matter, can be challenging.
- Government regulations: HDB resale flats are subject to government regulations, including restrictions on who can buy and sell them. These regulations can impact liquidity and potential returns.
- High entry price: The high price point of entry for Pinnacle@Duxton units requires a significant initial investment.
- Long-term investment: Given the Minimum Occupation Period (MOP) and the potential for future regulations, Pinnacle@Duxton might be best suited for long-term investors.
That said, are you planning on purchasing a unit at Pinnacle@Duxton? Share your thoughts in the comments section below or on our Facebook page.
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