Table of contents:
- About SkyOasis @ Dawson
- About the S$1,725,888 ATH transaction
- General insights and analysis
- Conclusion
A premium 5-room HDB flat at SkyOasis @ Dawson, located on Margaret Drive, has achieved a record all-time high (ATH) of S$1.73 million, making it the most expensive transaction in the HDB resale market. Spanning 1,195 sqft, the unit was sold on June 26 at S$1,444 psf. Notably, this sale, facilitated by Faith Wong, senior marketing director at ERA Realty, has surpassed the previous record set by a unit at City Vue @ Henderson just last month.
About SkyOasis @ Dawson
SkyOasis @ Dawson is an HDB development located on Margaret Drive in District 3, Singapore. Constructed in 2021, it features six residential blocks ranging from 26 to 45 stories, offering a variety of two- to five-room flats. The estate is conveniently situated within walking distance of the Queenstown MRT station on the East-West Line and adjacent to Queenstown Primary School, making it a practical choice for families.
The recent sale of a five-room flat at SkyOasis @ Dawson for S$1.73 million has drawn attention to the development. The transaction, equating to S$1,444 per square foot, indicates the premium value of units within this estate. The flat on the 45th floor was sold after being on the market for just under a month, reflecting the demand for such properties.
Below, we take a look at the most recent transactions from SkyOasis @ Dawson:
| Date | Address | Unit | Size (sqft) | Price (S$) | Price (S$ psf) | Type |
| 05/2024 | 39A Margaret Drive | Floor 34-36, Unit 274 | – | 1.188M | – | 4R |
| 05/2024 | 40A Margaret Drive | Floor 43-45 | 678 | 795,000 | 1,172 | 3R |
| 01/2024 | 43A Margaret Drive | Floor 28-30, Unit 314 | – | 1.109M | – | 4R |
| 11/2023 | 40A Margaret Drive | Floor 19-21, Unit 332 | – | 990,000 | – | 4R |
| 10/2023 | 39A Margaret Drive | Floor 40-42, Unit 276 | – | 1.6M | – | 5R |
| 08/2023 | 41A Margaret Drive | Floor 19-21, Unit 290 | 678 | 745,000 | 1,098.82 | 3R |
There is a pattern of increasing prices. For example, in May 2024, a four-room unit at 39A Margaret Drive was sold for S$1.188 million, while a one-bedroom unit at 40A Margaret Drive was sold for S$795,000. In January 2024, another four-room unit at 43A Margaret Drive was sold for S$1.109 million. These figures suggest a strong resale market within the estate, with prices reflecting the desirable location and modern amenities.
Read this: Yet another S$1,500,000 ATH for Bishan HDB in the same month
Over time, larger units tend to command higher prices in the market. For instance, in October 2023, a five-room unit at 39A Margaret Drive was sold for S$1.6 million. Even smaller units, such as the one-bedroom flat (41A Margaret Drive) sold in August 2023 for S$745,000, demonstrate the market value of properties within SkyOasis @ Dawson. This consistent appreciation highlights the estate’s appeal to buyers and investors seeking quality housing in a desirable location.
About the S$1,725,888 ATH transaction
This sale, a record-breaking S$1,725,888, surpassed the highest HDB transactions in Singapore: a 5-room flat at City Vue @ Henderson that fetched S$1,588,000 in June 2024 and another 5-room flat at 9B Boon Tiong Road at the same price point, both from Bukit Merah. The property, located near the prime Dawson estate, spans 1,194.79 sqft and boasts a higher ceiling and a corner unit with a balcony.
The property, which is three and a half years old with 96 years remaining on its lease, attracted significant attention in the market and was sold within less than a month of being listed. The initial asking price was set at S$1.838 million. Despite the high asking price, the property received competitive bids from two buyers and was sold for S$1,725,888.
The corner unit at SkyOasis @ Dawson, on the 45th floor, was sold after being listed on the market for under a month. The buyers were a family with young children attracted to the unit’s spaciousness, modern amenities, and strategic location.
Let’s compare this new record with previous ones in the table below:
| Date | Address | Unit | Size (sqft) | Price (S$) | Price (S$ psf) | Type |
| 06/2024 | 9B Boon Tiong Road | Floor 34-36 | 1,206 | 1.588M | 1,316 | 5R |
| 06/2024 | 96A Henderson Road | Floor 46-48 | 1,216 | 1.588M | 1,316 | 5R |
| 01/2024 | 139A Lorong 1A Toa Payoh | Floor 40-42 | 1,259 | 1.569M | 1,246 | 5R |
| 07/2024 | 275A Bishan Street 24 | Floor 37-39 | 1,292 | 1.568M | 1,213 | 5R |
| 01/2024 | 138C Lorong 1A Toa Payoh | Floor 31-33 | 1,259 | 1.54M | 1,223 | 5R |
| 06/2024 | 139A Lorong 1A Toa Payoh | Floor 31-33 | 1,259 | 1.54M | 1,223 | 5R |
| 06/2024 | 275A Bishan Street 24 | Floor 28-30 | 1,292 | 1.538M | 1,190 | 5R |
| 05/2024 | 1C Cantonment Road | Floor 37-39 | 1,141 | 1.515M | 1,327 | 5R |
| 06/2024 | 138C Lorong 1A Toa Payoh | Floor 34-36 | 1,227 | 1.504M | 1,225 | 5R |
| 06/2023 | 50 Moh Guan Terrace | Floor 4-6, Unit 52 | 1,894 | 1.5M | 791 | 4R |
The most recent transaction in the HDB resale market has set a new record, surpassing previous highs. The last record was set in June 2024 with the sale of a five-room flat at City Vue @ Henderson for S$1,588,000. Before that, another five-room flat at 9B Boon Tiong Road was transacted at the same price. Additional notable transactions include a five-room flat at 275A Bishan Street 24, sold for S$1,568,000 in July 2024, and a five-room flat at 139A Lor 1A Toa Payoh, which fetched S$1,568,888 in January 2024.
The recent transactions reflect a consistent price increase for premium HDB flats in prime locations. The sale at Margaret Drive, which surpassed S$1.7 million, indicates strong market demand and buyer willingness to invest in high-quality HDB properties. These record-breaking sales consistently demonstrate the growing value and desirability of HDB flats in Singapore’s competitive real estate market.
Read this: S$1,515,000 ATH for a unit at Pinnacle @ Duxton, highest ever so far
The property transaction is worth noting due to its status under the Selective En bloc Redevelopment Scheme (SERS), which allows owners to sell after seven years from registration.
ERA’s Key Executive Officer Eugene Lim stated, “The buyers have the unique opportunity to acquire a resale HDB flat with more than 96 years remaining lease because this was a SERS replacement flat and the homeowners could sell their unit seven years from the date of selection of the replacement flat, or five years from the date of key collection – whichever is earlier.” This aspect highlights the strategic advantage and value of acquiring SERS replacement flats in the resale market.
General insights and analysis
The recent sale at SkyOasis @ Dawson has set a new record for premium HDB units in Singapore. Buyers recognise the value of well-located, high-quality HDB flats, which will likely keep the demand for such properties robust. The increasing willingness to pay top dollar for units in prime locations suggests a shift in buyer preferences towards properties that offer modern amenities, strategic locations, and superior living environments. This trend is expected to drive prices higher for similar premium HDB units as the market continues to evolve.
Read this: Serangoon and Queenstown properties share a 1.2 million ATH title
The increase in high-priced transactions leads to more homeowners in premium estates entering the resale market, potentially resulting in an increased supply of desirable properties. However, this could also create a more competitive landscape for buyers looking for these premium units. As the high-end HDB flats market develops, it will be important for buyers and sellers to stay informed about market trends and valuations to make well-informed decisions. Recent sales at estates like SkyOasis @ Dawson emphasise the significance of strategic investment in HDB properties, especially in prime areas with superior attributes.
Conclusion
The recent sale of a five-room HDB flat at SkyOasis @ Dawson for S$1,725,888 has set a new benchmark in Singapore’s HDB resale market. The property at Margaret Drive was sold in under a month, reflecting the demand for premium HDB flats in Singapore.
The recent surge of high-value transactions reflects the increasing demand for premium HDB units. Prices for well-located, high-quality flats have been consistently rising, indicating a strong market preference for properties that offer superior living environments. This trend is expected to continue due to the growing recognition of the value provided by these premium units.
The HDB market is expected to witness an increase in high-priced transactions as buyers and sellers adapt to the changing market dynamics. Recent successful sales, such as the one at SkyOasis @ Dawson, are expected to motivate more homeowners in prime estates to list their properties, potentially leading to a rise in the supply of desirable units.
This may, however, lead to heightened competition among buyers interested in premium HDB flats. Overall, the future outlook for the HDB market appears promising, with strategic investments in prime locations expected to fuel market growth and establish new benchmarks for property values.
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This article is a product of 99.co and is based on information gathered from various sources, including ERA Realty’s press release. These sources are used in good faith to provide valuable insights. The source of the referenced content is duly credited, and we recommend that readers refer to it for a comprehensive understanding of the topic. 99.co is not responsible for errors, omissions, or consequences from using this information.
About Azhann Rosmin
Azhann Rosmin is a writer who has 6 years of professional forte. He specialises in writing about real estate and lifestyle topics. His coverage mostly focuses on HDBs, condos, BTOs, and landed houses while also favouring topics of food, nightlife, and technology. He has worked in multiple writing positions that include cryptocurrency, fintech, e-commerce, fashion, and cosmetics. Azhann graduated with a bachelor's degree in Applied Linguistics and also writes poetry.
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