According to Shin Min Daily News, Singapore has just seen its most expensive HDB sale yet - a 4 room HDB flat at The Pinnacle@Duxton, measuring only 93 sqm or 1,000sq ft, was recently sold for $990,000, which makes it the most expensive 4 room flat in Singapore history.
The unit was sold in September this year. The prices are despite much touted property cooling measures by the government.
To make matters worse, 20 units of 4 room flats were sold this year. 5 of these units were sold for above $950,000, while 7 of the units were sold above $1 million.
PropNex Realty, a real estate broker, estimates that it is only a matter of time before Pinnacle@Duxton flats are sold at $1 million per piece.
“Pinnacle@Duxton flats are benchmarked against private property prices, not
public housing. If a buyer has a budget of $1 million, instead of buying a
private property in Pasir Ris, he might find a unit near the city to be more
attractive,” he said.