Wednesday, May 10, 2023
HomeProperty5-room Pinnacle@Duxton flat bought at S$1.4m, a file worth within the mission

5-room Pinnacle@Duxton flat bought at S$1.4m, a file worth within the mission

A 5-room resale flat at Pinnacle@Duxton was just lately bought at S$1.4 million. This makes it the most costly resale HDB flat within the mission, smashing the earlier file of S$1,388,888.88 set final March.

Flat was initially listed for S$1,488,888

Penny Lim from ERA Realty, the agent who brokered the deal, shared with that the preliminary asking worth was S$1,488,888.

“There’s good response to the itemizing as there’s restricted provide of 5-room flats. So greater than 10 enquiries and some presents had been acquired. However they had been all beneath expectation.”

Apart from its prime location within the coronary heart of the town, the nook unit is on the forty first flooring. It additionally options an open idea kitchen and a full-height window in the lounge.

pinnacle at duxton flat kitchen
The open idea kitchen of the flat. Picture credit score: Penny Lim

The District Division Director added that the sellers, who had been the primary homeowners of the unit, are transferring to be nearer to their children’ main college.

“So it is smart to maneuver.”

In the meantime, the patrons of the flat are PRs in search of city-living. Their youngsters’s faculties are close by as properly. They settled on this HDB resale flat as they’re in search of a much bigger area.

Pinnacle@Duxton flats should not topic to PLH restrictions

Positioned in Blk 1G Cantonment Street, the flat spans 106 sqm (1,141 sq ft). This works out to S$1,227 psf, which is manner larger than the worth psf of the earlier 5-room file holder at Pinnacle@Duxton (S$1,205 psf).

pinnacle at duxton flat living room
The 1,141 sq ft flat additionally contains a full-height window in the lounge. Picture credit score: Penny Lim

Lim famous that the worth psf of this transaction is as excessive as ECs and resale condos within the OCR. Alternatively, different high-end HDB resale transactions usually have a worth psf of S$1,0xx to S$1,1xx. 

She additionally identified the Prime Location Public Housing (PLH) mannequin, through which new public housing tasks in prime areas are actually topic to a 10-year Minimal Occupation Interval (MOP).

On high of that, resale PLH flats have an eligibility standards much like BTO flats. This contains an revenue ceiling of S$14,000 and at the very least one Singaporean purchaser. Compared, there is no such thing as a revenue ceiling for patrons of non-PLH resale flats. PR households are additionally allowed to purchase these HDB flats on the resale market.

pinnacle duxton view
Town view from the flat. Picture credit score: Penny Lim

Nonetheless, by way of worth psf within the growth, the file is at present held by a 4-room flat bought for S$1.37 million (S$1,369 sq ft) in October final yr. What’s notable is that additionally it is the best worth psf recorded for an HDB resale flat nationwide.

In the meantime, the present file worth for the most costly HDB resale flat is S$1.418 million, set by a 5-room flat at SkyTerrace @ Dawson bought final July.

Based on HDB’s resale flat worth portal, as of writing, 4 5-room flats have been bought at Pinnacle@Duxton this yr, with transaction costs starting from S$1.26 million to S$1.38 million. 

In the meantime, eight 4-room flats within the mission have modified palms this yr. Amongst them, seven had been bought for at the very least one million {dollars}, starting from S$1.032 million to S$1.29 million. 

Pinnacle@Duxton flats on the market


When you discovered this text useful, recommends Not too long ago MOP-ed 5-room HDB resale flat in Sengkang bought for S$928k and 7 must-do steps when promoting your home in Singapore.



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