Top 20 most expensive HDB resale transactions in Singapore

We often see all-time high (ATH) transactions, and we cover them regularly. However, most of the time, these sales set records only within their estates or for specific flat types — not on a national scale.

This time, though, a recent transaction has done more than just set a local record. It has landed itself among the top 20 most expensive HDB resale transactions in Singapore.

Record-breaking transaction at Pinnacle@Duxton

A 4-room flat at Pinnacle@Duxton recently sold for $1,518,000, setting a new record for the most expensive 4-room HDB resale in Singapore. This unit, located in Block 1C on Cantonment Road, spans 1,012 sq ft, translating to a price of $1,500 per square foot (psf).

Situated between the 49th and 50th floors of the 50-storey development, the flat offers residents excellent unblocked views of the cityscape. With its lease commencing in 2011, the property retains a good 85 years and 2 months remaining.

According to Shin Min Daily News, the sellers — a homeowner and her husband — originally purchased the unit 15 years ago for just $378,000. While it was initially listed at $1.52 million, the final sale price came in slightly lower at $1.518 million. Even with this minor adjustment, they walked away with an incredible $1,140,000 profit — a massive 301.59 per cent capital gain.

It's also worth noting that HDB's valuation for the flat was $1.41 million, which means the buyer had to fork out an extra $108,000 in cash to cover the difference.

Pinnacle@Duxton and what's special about it

If you haven't heard of Pinnacle@Duxton and its prime location, you might have been living under a rock — or you're just new to the market. Either way, here's what makes this development stand out.

First, its central location means you're within walking distance of both Outram Park and Tanjong Pagar MRT stations, making commuting a breeze. Daily essentials are covered too, with supermarkets like FairPrice at Tanjong Pagar Plaza and FairPrice Finest @ 100AM nearby for quick and easy grocery runs.

Families with young children will also appreciate the proximity to schools such as Cantonment Primary, Radin Mas Primary, and River Valley Primary School. And when it comes to entertainment and dining, you won't be short on options, with Singapore's Korea Town right at your doorstep and several nearby malls — 100AM, Icon Village, Guoco Tower, Chinatown Point, and Clarke Quay Central — just around the corner.

For working adults, Pinnacle@Duxton is conveniently located near the CBD, helping to minimise commute times.

Beyond convenience, Pinnacle@Duxton offers condo-like features that elevate its appeal. The development boasts stunning sky gardens on the 26th and 50th floors, giving residents access to breathtaking panoramic views of the city along with green spaces for relaxation. It also includes fitness stations, pavilions, and jogging tracks — amenities that make high-rise living feel more like an integrated lifestyle experience.

The project's award-winning design is another major highlight. Prioritising high-density living while focusing on resident well-being, Pinnacle@Duxton won the prestigious title of "World's Best Housing Development" at the World Architecture Festival in 2010. Its innovative concept blends urban living with modern aspirations, setting a benchmark for public housing worldwide.

Here's something unique you might not hear about often: the development even has a high-end food court, Essen @ Pinnacle, located in Block 1C. Unlike your typical hawker centre, Essen serves up a mix of Western, Mediterranean, and fusion cuisine — all at wallet-friendly prices. According to SethLui, if you're looking for restaurant-quality meals without the hefty price tag, this spot is a hidden gem.

This is the highest psf ever recorded for an HDB resale flat

Back in 2023, we covered how Pinnacle@Duxton set the record for the highest resale price psf at $1,393 psf. Now, the development has outdone itself, setting a new all-time high for HDB resale price psf in Singapore.

Looking at the highest recorded psf resale transactions, most of them come from 4-room units in Pinnacle@Duxton. It makes sense when you think about it. The project's resale prices are so high that they can compete with larger 5-room flats, DBSS units, and even HDB terrace houses. But since Pinnacle@Duxton units are smaller in size, this naturally pushes up their psf value even further.

In fact, if you take a look at the top 20 most expensive HDB resale transactions by psf, Pinnacle@Duxton dominates the list — except for one spot. The only other development to break into this ranking is Tiong Bahru View, which claims the 18th position with a 4-room resale.

The $1.518m sale isn't the most expensive sale from the project

While the recent $1.518 million sale set a record for the most expensive 4-room flat in Singapore, it's not actually the priciest transaction ever recorded at Pinnacle@Duxton. That title belongs to a 5-room unit that changed hands for $1.55 million in November 2024.

Located in Block 1D on a high floor — somewhere between the 43rd and 45th storeys — this 1,141 sqft unit was sold at $1,358 psf. In comparison, the $1.518 million 4-room flat falls just $32,000 short of this record, a difference of only 2.11 per cent.

That said, just as this 4-room transaction isn't the most expensive at Pinnacle@Duxton, the $1.55 million 5-room flat isn't the priciest HDB resale in Singapore either.

20 most expensive HDB resale transactions in Singapore

With how often Pinnacle@Duxton makes headlines for its record-breaking transactions, you might assume it tops the list of Singapore's priciest HDB resales. But surprisingly, there are several flats that have sold for even more.

Below is a list of the 20 most expensive HDB resale transactions in Singapore:

Looking at the table, one transaction stands out — the recent $1.518 million sale at Pinnacle@Duxton. It is the only 4-room flat to make it into the top 20, ranking 18th overall. The rest of the list is dominated by larger 5-room units, DBSS flats, and executive apartments.

What do these record-breaking flats have in common?

It's not just one factor but a combination of key elements that drive demand and push HDB flat prices to record highs.

First, size plays a major role. Larger flats, such as 5-room units, DBSS flats, and even HDB terraces, frequently top the list of most expensive resale transactions. The recent $1.518 million 4-room sale at Pinnacle@Duxton is an exception, but its status as a landmark project likely contributed to its high value.

Then, there's the uniqueness factor. Buyers want to feel like their money is well spent on something rare or prestigious. Owning a DBSS flat — part of a discontinued public housing scheme — adds exclusivity.

Similarly, buying a unit in an iconic development like Pinnacle@Duxton or securing a landed HDB property, even with a shorter lease, gives buyers a sense of prestige and differentiation from standard flats.

Another key trend is floor level. In land-scarce Singapore, high-floor units come at a premium. Buyers are willing to pay more for unblocked views, enhanced privacy, and a better living experience away from street-level noise and congestion.

Location is another major factor. Flats in central areas or mature estates tend to command higher prices due to their accessibility and proximity to essential amenities. Being near MRT stations, shopping malls, and reputable schools within a 1km radius makes daily life more convenient.

Lease tenure also matters. Buyers are looking for long-term value, and a flat with a longer lease offers greater security. Among the 20 most expensive HDB resale transactions in Singapore, only HDB terraces tend to have significantly shorter leases — but the trade-off is the larger space and prestige that come with them.

As for flats, Pinnacle@Duxton and Natura Loft have the shortest remaining leases among the top-tier sales, yet even these still have a healthy 85 years left, making them solid long-term investments.

Finally, there's appreciation potential. Many of the projects that frequently set new all-time highs have seen substantial price growth over the past four years.

The Peak @ Toa Payoh leads the pack with a 38 per cent increase in average prices, followed by Natura Loft, Pinnacle@Duxton, Tiong Bahru View, and City Vue @ Henderson. All of these projects have experienced at least a 23 per cent rise in average prices over this period.

Estates without million-dollar HDB resale flats - who's next?

We have 27 HDB towns, and nearly all of them have recorded million-dollar resale transactions — except for three. Choa Chu Kang, Jurong West, and Sembawang are the only towns yet to see an HDB flat cross the million-dollar mark.

Among the three, Jurong West is the closest, with its highest transaction to date reaching $980,000. With ongoing developments in the area, including the future Jurong Region Line and the continued transformation of Jurong Lake District into Singapore's second Central Business District, it's only a matter of time before a transaction tips past the million-dollar mark.

Choa Chu Kang follows closely behind with a record resale price of $938,000. While this town is traditionally seen as a more affordable option, increasing demand for larger flats and upcoming developments — such as improved connectivity from the North-South Corridor and ongoing estate rejuvenation efforts - could support future price growth.

Sembawang, on the other hand, remains the furthest behind, with its highest transaction standing at $878,000. While the estate has seen more interest in recent years due to developments like Bukit Canberra and the Canberra MRT station, it may take a while before a resale flat in the area reaches seven figures.

This article was first published in 99.co.