Pinnacle@Duxton’s first record of the year comes in at S$1.63M, setting town & district benchmarks

A new benchmark has just been set in Singapore’s HDB resale market. On 26 May 2026, a resale flat in the Central Area changed hands for S$1.63 million, making it not only the highest-priced resale transaction in the town, but also the most expensive HDB resale recorded in District 2 (Chinatown/Tanjong Pagar) so far.

The S$1.63M flat at Pinnacle@Duxton

The latest record-setting transaction involved a 5-room unit at Pinnacle@Duxton. The flat was located somewhere between the 43rd and 45th storeys, and measured around 1,130 square feet in size.

Given the height of the unit, buyers are likely paying a premium for the open and elevated views. Depending on the stack orientation, residents may enjoy panoramic scenes overlooking the CBD skyline, Chinatown shophouses, the port area, Mount Faber, and even parts of Sentosa.

Based on the resale price, the transaction worked out to roughly S$1,442 psf. Even so, this is still not the highest psf transaction recorded in the Central Area. That distinction continues to belong to another 4-room unit at Pinnacle@Duxton, which previously sold for S$1.518 million, translating to approximately S$1,500 psf.

Of course, this is far from the first time Pinnacle@Duxton has broken records. In fact, the development spent much of last year setting and resetting its own benchmarks.

Date	Record price
February 2025	S$1.55M
May 2025	S$1.568M
June 2025	S$1.58M
August 2025	S$1.6M
May 2026	S$1.63M

From this progression, a gradual but steady climb in pricing can clearly be seen. Compared to the previous S$1.6 million record, the latest transaction is higher by around S$30,000.

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How much was the flat originally bought for?

When Pinnacle@Duxton was first launched under HDB’s BTO scheme on 29 May 2004, the project was marketed with the tagline “The Peak of City Living”. At the time, 5-room units measuring around 105 square metres were priced from approximately S$345,100 before grants. 

Typically, prices during BTO launches increase based on floor height, and higher-floor units often command significantly larger premiums. Since this resale unit was located on one of the higher storeys, its original launch price would likely have fallen somewhere around the S$555,000 to S$560,000 range.

That said, there is no way to confirm whether the current seller was the original owner. Since the project has already crossed its 16th year, and because every buyer must fulfil a 5-year Minimum Occupation Period (MOP), it is entirely possible that the flat changed hands one or even two times before this latest transaction.

Still, regardless of ownership history, the capital appreciation has been substantial. Even after accounting for expenses such as agent commissions, legal fees, HDB administrative charges, and valuation-related costs, which likely stayed below S$35,000 in total, the seller may still have walked away with a very sizeable gain.

If this happened to be an original owner unit, the estimated capital gain could roughly fall between S$923,000 and S$929,000. Naturally, this estimate should be taken with a grain of salt since the complete purchase and sale details were not publicly disclosed.

A relatively young lease still helps support demand

Another reason behind the project’s continued pricing strength is its remaining lease. The lease for Pinnacle@Duxton started in 2011, meaning buyers today still enjoy around 83 years remaining. Compared to older mature-estate HDB flats, this gives owners a much longer runway for future occupation and resale.

For many buyers, especially younger families or upgrader households, that remaining lease becomes an important factor when purchasing a high-value HDB property.

 

Why Pinnacle@Duxton continues to command such strong prices

A major reason behind the project’s continued popularity is undoubtedly its location. Situated right within the CBD fringe, Pinnacle@Duxton enjoys excellent connectivity to both the city centre and surrounding business hubs.

Residents are within walking distance to Maxwell MRT Station and Tanjong Pagar MRT Station, providing access to the Thomson-East Coast Line and East-West Line respectively.

Within roughly a 1km radius, residents also gain access to several additional MRT stations. These include Outram Park MRT Station, Chinatown MRT Station, and Telok Ayer MRT Station, collectively connecting residents to the Thomson-East Coast, North-East, East-West, and Downtown Lines. 

Additionally, the upcoming Cantonment and Prince Edward Road MRT stations on the Circle Line are expected to begin operations in July this year, which may further improve accessibility in the area.

Drivers also benefit from relatively quick access to major expressways such as the Ayer Rajah Expressway (AYE) and Central Expressway (CTE).

Amenities within the development

Originally aimed at younger couples and families, the 1,848-unit project was planned with features commonly associated with condominiums.

One of its most recognisable elements is its sky gardens, which connect the seven residential towers at both the 26th and 50th storeys. The sky garden on the 26th floor is reserved for residents, while the 50th-storey sky bridge is open to the public and has since become a well-known viewing spot in Singapore.

Within the development itself, residents also have access to fitness corners, green spaces with benches and pavilions, a jogging track, basketball courts, a childcare centre as well as a food court. There is also an outdoor gallery that showcases the historical significance of the Duxton area.

Pinnacle@Duxton’s price gap is growing wider

Given all these factors, it may not be particularly surprising that Pinnacle@Duxton continues achieving such strong resale prices.

Over the past five years alone, average psf prices for 5-room units in the project have grown by almost 38%. At the same time, the pricing gap between Pinnacle@Duxton and other resale HDB projects in the surrounding area has widened considerably as well. Back in 2021, the average psf for 5-room units in Pinnacle@Duxton was only around 9% higher than the Central Area average. Compared to other 5-room units within District 2, the gap stood at roughly 14%.

However, by 2026, that difference has expanded much more significantly. Today, 5-room units at Pinnacle@Duxton are commanding prices around 24% higher than the Central Area average, while the gap versus District 2 has widened further to approximately 34%.

This growing divide suggests that buyers are increasingly viewing Pinnacle@Duxton as a unique product category of its own rather than simply another resale HDB development in the area.

Who are these buyers?

Although prices above S$1.4 million or S$1.5 million may appear extremely expensive within the HDB market, the buyer profile here may actually differ from the typical HDB upgrader. In many ways, these homes appear to be attracting buyers who may otherwise consider Executive Condominiums or even private homes.

For households wanting to stay close to the Downtown Core while still needing family-sized space, alternatives in Districts 1 and 2 can become significantly more expensive. A private 3-bedroom condominium in these locations can easily cost anywhere between S$2.5 million and S$4 million. Against that backdrop, a large 5-room HDB flat in a prime central location may start looking comparatively more affordable. As a result, projects like Pinnacle@Duxton may continue seeing strong price support from this group of buyers.

Recent Executive Condominium (EC) policy adjustments could further indirectly contribute to demand for standout resale HDB projects, like Pinnacle. Changes announced for EC Government Land Sales sites with tender closings from 8 May 2026 onwards include updates to privatisation timelines, MOP requirements, payment structures, and first-timer benefits. While we can’t directly attribute future Pinnacle@Duxton price growth solely to these changes, the revisions may encourage some buyers to re-evaluate centrally located resale HDBs with strong remaining leases and immediate liveability.

Read more: Last chance to buy an EC with DPS: 5 upcoming executive condo launches to watch

Still, for buyers searching for more affordable 5-room homes within the Central Area, options do remain available, with listings on 99.co currently beginning from around S$749,000.

This still isn’t Singapore’s most expensive HDB resale

Despite the eye-catching S$1.63 million transaction, this is still not Singapore’s most expensive HDB resale flat. That title currently belongs to a unit at  City Vue @ Henderson.

The record transaction there involved a high-floor 5-room unit located between the 46th and 48th storeys. The flat measured approximately 1,216 square feet, making it slightly larger than the 1,130-square-foot Pinnacle@Duxton unit. The transaction was completed at around S$1,421 psf.

Similar to Pinnacle@Duxton, the appeal of the unit likely came from its height, surrounding views, as well as location. Residents there may enjoy panoramic scenes of the city skyline, greenery pockets nearby, and even the Greater Southern Waterfront.

From a lease standpoint, City Vue @ Henderson is even younger than Pinnacle@Duxton. Since its lease began in 2019, buyers there still have around 92 years remaining, giving owners a notably longer lease runway compared to many older Bukit Merah flats.