Just weeks after a 4-room flat at 50 Moh Guan Terrace made headlines after changing hands for S$1.53 million, the record has already been overtaken once again. This time, however, the latest benchmark comes from none other than Pinnacle@Duxton, a project that has become almost synonymous with record-breaking HDB resale prices over the years.
The newest transaction involved a 4-room flat that was sold for an eye-watering S$1.55 million, officially making it the most expensive 4-room HDB resale transaction in Singapore to date. At the same time, the sale also matched the highest price per square foot (psf) ever recorded for an HDB resale flat nationwide at S$1,500 psf.
Table of contents
- The S$1.55M Pinnacle@Duxton unit
- The nationwide record S$1,500 psf
- Pinnacle@Duxton briefly lost the crown before taking it back again
- Space has become a luxury on its own
- Heritage appeal is outweighing lease decay concerns
- Scarcity continues to drive value
- Buyer profiles are likely changing too
- Yet, this still isn’t the most expensive HDB resale in Central Area
The S$1.55M Pinnacle@Duxton unit
The latest record-setting deal involved a 4-room flat located at Block 1C Cantonment Road within Pinnacle@Duxton. The unit was situated somewhere between the 40th and 42nd floors and spans approximately 1,033 square feet.
Naturally, a major part of the premium likely comes from the unit’s height. High-floor homes within Pinnacle@Duxton are well-known for offering expansive, unblocked views across different parts of Singapore. Depending on the facing of the unit, owners may enjoy sweeping views of the CBD skyline, the historic Chinatown shophouses, the southern port area, Mount Faber, and even parts of Sentosa.
Beyond the views, the development’s location remains one of its biggest strengths. Situated right in the heart of the Central Area, residents enjoy close proximity to the CBD, multiple MRT stations, retail offerings, eateries, and lifestyle amenities. As a result, the project continues to attract both owner-occupiers and affluent buyers looking for a rare public housing asset within the city centre.
At the same time, lease decay is also far less of a concern here compared to older mature-estate flats. The lease for Pinnacle@Duxton only began in 2011, which means buyers today still enjoy roughly 83 years remaining on the lease. Compared to many older central HDB flats that may already be approaching the halfway mark of their lease tenure, Pinnacle@Duxton still offers buyers a considerably longer runway for both future occupation and resale potential.
3
1
3
2
3
2
3
2
3
1
3
1
3
2
3
2
3
2
3
2
The nationwide record S$1,500 psf
The latest S$1.55 million sale does not just break the national 4-room resale record. It also ties the nationwide highest HDB resale psf ever recorded at S$1,500 psf. What makes this even more notable is that the project sharing this title is, once again, Pinnacle@Duxton itself.
Back in March 2025, another 4-room flat at Block 1C Cantonment Road was sold for S$1.518 million. That particular unit measured around 1,012 square feet, which similarly translated to S$1,500 psf.
The earlier transaction involved a unit located between the 49th and 50th floors of the 50-storey development. Much like the latest S$1.55 million sale, buyers were likely drawn to the exceptionally high floor level and the unobstructed city views that come with it.
According to reports by Shin Min Daily News, the sellers had originally purchased the flat approximately 15 years ago for just S$378,000. Although the home was initially marketed at S$1.52 million, the final agreed price eventually settled slightly lower at S$1.518 million. Even so, the sellers likely walked away with a profit of around S$1.14 million, representing a capital gain exceeding 300%.
Another noteworthy detail from that transaction was the valuation gap involved. At the time, HDB’s valuation for the flat reportedly stood at around S$1.41 million. This suggests that the buyer may have had to fork out an additional S$108,000 in Cash Over Valuation (COV) to complete the purchase.
Curious if your home could be a million-dollar resale? Find out now with X-Value
Pinnacle@Duxton briefly lost the crown before taking it back again
For regular followers of the HDB resale market, Pinnacle@Duxton has become an extremely familiar name. Over the past several years, the project has repeatedly broken and reset national resale records, particularly within the 4-room segment.
Although a handful of other developments have occasionally interrupted Pinnacle’s dominance, the project still continues to occupy the overwhelming majority of Singapore’s highest-priced 4-room resale transactions.
| Date | Address | Floor | Size (sqft) | Price | Price (psf) |
| 05/2026 | Pinnacle@Duxton | 40 – 42 | 1,033 | S$1.55M | S$1,500 |
| 05/2026 | 50 Moh Guan Terrace | 01 – 03 | 1,615 | S$1.53M | S$947 |
| 03/2025 | Pinnacle@Duxton | 49 – 51 | 1,012 | S$1.518M | S$1,500 |
| 06/2023 | 50 Moh Guan Terrace | 04 – 06 | 1,894 | S$1.5M | S$791 |
| 01/2026 | Pinnacle@Duxton | 37 – 39 | 1,023 | S$1.5M | S$1,466 |
| 09/2025 | Pinnacle@Duxton | 46 – 48 | 1,001 | S$1.49M | S$1,488 |
| 10/2025 | Pinnacle@Duxton | 43 – 45 | 1,001 | S$1.48M | S$1,478 |
| 05/2026 | Pinnacle@Duxton | 43 – 45 | 1,023 | S$1.46M | S$1,427 |
| 04/2024 | SkyParc@Dawson | 40 – 42 | N/A | S$1.459M | N/A |
| 09/2025 | Pinnacle@Duxton | 22 – 24 | 1,001 | S$1.45M | S$1,448 |
When examining the 10 highest-priced 4-room HDB resale transactions in Singapore, eight of them come from Pinnacle@Duxton itself. The only exceptions are units from 50 Moh Guan Terrace and SkyParc@Dawson.
In many ways, SkyParc@Dawson’s presence on this list is not particularly surprising. After all, the project enjoys a highly desirable Queenstown location while also benefiting from a relatively long remaining lease. However, Moh Guan Terrace stands out for an entirely different reason.
The fact that a decades-old walk-up flat in Tiong Bahru is now competing directly with one of Singapore’s most iconic 50-storey HDB developments is arguably one of the most fascinating stories in today’s resale market.
When comparing the transactions at Pinnacle@Duxton and Moh Guan Terrace more closely, a very interesting shift in buyer priorities starts to emerge.
Space has become a luxury on its own
Although both developments crossed the S$1.5 million mark, they achieved these prices through completely different formulas.
For Pinnacle@Duxton, buyers are paying a substantial premium on a psf basis. Most of these flats are standard-sized 4-room units measuring around 1,000 square feet, yet they continue to transact at roughly S$1,450 to S$1,500 psf. In essence, buyers are paying heavily for the project’s height, modernity, skyline views, and prestigious city-centre location.
Meanwhile, Moh Guan Terrace achieves similar overall transaction prices through sheer floor area instead.
These adjoined jumbo-style flats measure between roughly 1,615 and 1,894 square feet, which is significantly larger than a typical HDB flat today. As a result, while the total transaction prices are extremely high, the psf figures remain far more modest at roughly S$790 to S$940 psf.
Heritage appeal is outweighing lease decay concerns
Under normal circumstances, conventional property wisdom would suggest that older HDB flats with shorter remaining leases should experience heavier price pressure over time. Yet, Moh Guan Terrace appears to be defying that expectation entirely.
Read more: A 39-year lease and still in demand – Why are these HDB flats still selling so well?
Despite having around 45 to 50 years remaining on its lease, buyers continue to pay record-setting prices for these units. Much of this likely comes down to the unique character of the surrounding Tiong Bahru neighbourhood itself.
Today, Tiong Bahru is no longer viewed purely as a standard public housing estate. Instead, many buyers increasingly see it as a heritage lifestyle enclave filled with conserved architecture, trendy cafes, independent shops, markets, and a low-rise residential environment that has become extremely difficult to replicate in modern Singapore.
Scarcity continues to drive value
Another key factor supporting Moh Guan Terrace’s pricing strength is rarity. Large jumbo-style HDB flats in central areas were built decades ago, and similar low-rise projects are highly unlikely to ever be developed again in today’s land-scarce environment.
As such, buyers searching for a 1,600 to 1,900 square foot home near the city centre face extremely limited options. The alternative would often involve purchasing a luxury private condominium unit nearby, which could easily cost several million dollars more. Viewed through that lens, some buyers may actually see these jumbo HDB flats as relatively attractive value propositions despite their shorter remaining leases.
4
2
4
4
4
4
4
4
5
4
4
4
4
3
4
4
4
4
4
4
Buyer profiles are likely changing too
Because older HDB flats with shorter remaining leases face tighter CPF usage rules and stricter loan limitations, many average buyers could find such purchases difficult to finance fully.
As a result, buyers purchasing these record-setting Moh Guan Terrace units are likely very different from the typical HDB upgrader profile. These could include affluent cash-rich households, older buyers who have already accumulated substantial housing equity, or even multi-property owners who are rightsizing from larger private homes. In other words, these transactions may increasingly reflect lifestyle-driven purchases rather than purely affordability-based public housing decisions.
Yet, this still isn’t the most expensive HDB resale in Central Area
Despite the latest S$1.55 million benchmark for 4-room flats, it is worth noting that this still does not hold the title for the most expensive HDB resale transaction within the Central Area.
Just a day earlier, on 26 May, another resale transaction in District 2 reportedly changed hands for S$1.63 million, setting a new benchmark for the area. Interestingly, that unit also came from Pinnacle@Duxton.
The transaction involved a 5-room flat located between the 43rd and 45th storeys. The unit measured around 1,130 square feet, and based on the resale price, the deal worked out to approximately S$1,442 psf.
Taken together, these back-to-back transactions continue to reinforce Pinnacle@Duxton’s position as one of Singapore’s strongest-performing HDB developments. More importantly, they also highlight how buyer demand for rare, centrally located public housing remains exceptionally resilient, even at price levels that would have once seemed almost unimaginable for HDB flats.
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Facebook | Instagram | TikTok | Telegram | YouTube | Twitter
Leave a comment