Earlier this month, a five-room HDB flat at 1D Cantonment Road was sold for $1.58 million ($1,398 psf). The 1,130-sq ft flat is part of The Pinnacle@Duxton, which comprises seven 50-storey blocks with a total of 1,848 flats. The Pinnacle@Duxton is located in District 2, within the HDB town of Central Area. As its lease commenced in 2011, the project has a remaining lease of approximately 85 years.
We used our analytics tool, Is it a Good Deal?, to assess the transaction and determine whether the buyer of this five-room flat secured a bargain.
Excellent location drive up prices
The main factor driving up prices for flats in The Pinnacle@Duxton is its excellent location in the CBD. Both Maxwell and Tanjong Pagar MRT Stations are within walking distance of the HDB project, giving residents access to the Thomson-East Coast and East-West Lines (see Map 1).
Expanding the distance to 1km reveals even more nearby MRT stations, including the triple-line Outram Park MRT Station, the dual-line Chinatown MRT Station, and Telok Ayer MRT Station. Together, these three stations provide residents with access to the Thomson-East Coast, North-East, East-West, and Downtown Lines. Cantonment and Prince Edward Road MRT Stations also fall within the 1km radius; but these two Circle Line stations are expected to begin operations only next year.
Source: EdgeProp LandLens (as at 26 June 2025)
Amenities such as a food court, childcare centre, jogging track, and sky gardens can be found within The Pinnacle@Duxton. Other amenities within a 500m radius include Tanjong Pagar Plaza, 100AM, Icon Village, Guoco Tower, International Plaza, Amara Singapore, Orchid Hotel, Carlton City Hotel Singapore, and Oasis Hotel Downtown Singapore (see Screenshot 1).
Another plus point for The Pinnacle@Duxton is its relatively long remaining lease of approximately 85 years, as the lease for the HDB project commenced in 2011.
Source: EdgeProp Is it a Good Deal (as at 26 June 2025)
Cantonment Primary School is the only primary school within a 1km radius, which is the main drawback of The Pinnacle@Duxton. Expanding the radius to 2km brings CHIJ (Kellock), Radin Mas Primary School, and Zhangde Primary School within range.
Our tool also indicated that the transacted price of $1.58 million ($1,398 psf) is higher than the average prices of neighbouring projects and the district (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 26 June 2025)
Six million-dollar deals recorded for five-room flats from The Pinnacle@Duxton this year
According to resale data from HDB, six five-room flats at The Pinnacle@Duxton have been sold so far this year, and all fetched at least $1 million for their sellers. Transacted prices for these six flats range from $1.43 million to $1.58 million.
In comparison, 15 five-room flats at The Pinnacle@Duxton were sold last year, with transacted prices ranging from $1.379 million to $1.543 million.
The subject flat at 1D Cantonment Road fetched this year’s record-high price of $1.58 million ($1,398 psf) for The Pinnacle@Duxton. The second-highest price of $1.568 million ($1,362 psf) was achieved last month for another five-room flat at 1G Cantonment Road (see Map 2).
The flat at Block 1G is slightly larger at 1,152 sq ft, compared to the subject flat, which measures 1,130 sq ft. It is also located on a higher floor—between the 37th and 39th storeys—compared to the subject flat, which is on the 34th to 36th storeys.
Source: EdgeProp LandLens (as at 26 June 2025)
Million-dollar deals have also been concluded for four-room flats at The Pinnacle@Duxton. So far this year, 19 four-room flats from the HDB project have been sold at prices ranging from $1.15 million to $1.518 million. Similarly, 30 four-room flats were sold last year, with prices ranging from $1.13 million to $1.45 million.
So far this year, eight five-room flats in Central Area have changed hands, and only two of them are not from The Pinnacle@Duxton. A flat at 639 Rowell Road was sold for $1.032 million ($689 psf) last month, while another at 634 Veerasamy Road fetched $958,000 ($685 psf) in March. Both flats are larger than those at The Pinnacle@Duxton but have shorter remaining leases of less than 60 years.
The proximity of the flat at 639 Rowell Road to many amenities likely contributed to its million-dollar price tag. Amenities within a 500m radius include City Square Mall, Centrium Square, Mustafa Centre, Jalan Besar Plaza and Jalan Besar MRT Station (see Map 3). The main drawback of the flat at Rowell Road is its relatively short remaining lease of approximately 58 years.
Source: EdgeProp LandLens (as at 26 June 2025)
Subject flat sold for higher price than similar flats
The average resale price of five-room flats ($1,154 psf) in Central Area consistently surpasses that of three-room ($770 psf) and four-room ($1,027 psf) flats (see Chart 1). Notably, the transacted price of $1,398 psf for the subject flat is significantly higher than the average resale price of $1,154 psf for similar flats in the same HDB town.
The higher price for five-room flats in Central Area could be attributed to their limited supply. According to the latest HDB annual report, there are only 904 five-room flats in Central Area, compared to 4,205 three-room and 3,424 four-room flats.
However, four-room (43.2%) flats chalked up a higher price growth since 2020, compared to their three-room (31.6%) and five-room (41.8%) counterparts.
Source: EdgeProp Market Trends (as at 27 June 2025)
Unsurprisingly, five-room flats that are between 11 and 20 years old in Central Area ($1,324 psf) command a significantly higher average resale price compared to their counterparts in the Central Region ($1,050 psf) and islandwide ($841 psf) (see Chart 2).
Despite having the highest average resale price, five-room flats in Central Area (39.8%) recorded the weakest price growth since 2020. In comparison, similar flats in the Central Region (43.2%) and islandwide (41.3%) achieved stronger price growths of over 40%.
Source: EdgeProp Market Trends (as at 27 June 2025)
Seven 99-year leasehold condos within walking distance
There are 12 completed condos within walking distance of The Pinnacle@Duxton. Of these, seven have tenures of 99 years, while the remaining five are freehold developments. Among the seven leasehold condos, The Beacon is the nearest to The Pinnacle@Duxton (see Map 4).
Located along Cantonment Road in District 2, The Beacon obtained its Temporary Occupation Permit (TOP) in 2008; making it three years older than The Pinnacle@Duxton. The Beacon comprises 124 units, offering a mix of two-bedroom and three-bedroom units, with majority ranging from 807 sq ft to 1,485 sq ft.
Source: EdgeProp LandLens (as at 27 June 2025)
The average resale price of The Beacon ($1,945 psf) has trended closely with that of 99-year leasehold condos islandwide ($1,689 psf) that are 11 to 20 years old. However, both average resale prices are significantly below the average recorded for similar condos in District 2 ($2,346 psf) (see Chart 3).
So far this year, four transactions have taken place at Wallich Residence, chalking up an average resale price of $3,335 psf, which has boosted the overall average resale price for leasehold condos in District 2.
Source: EdgeProp Market Trends (as at 27 June 2025)
Conclusion
The eye-watering price of $1.58 million ($1,398 psf) paid for the subject flat is a record high for The Pinnacle@Duxton but is still below the $1.659 million recently paid for a five-room flat at SkyTerrace@Dawson.
The Pinnacle@Duxton has consistently commanded high prices in the resale market due to its central and well-connected location. However, the government recently announced that more public and private homes will be built in central locations near Monk’s Hill, Paterson Hill, and Newton Circus under the Draft Master Plan 2025.
Given that more homes are planned for central locations, demand and price growth for The Pinnacle@Duxton might gradually ease. Moreover, The Pinnacle@Duxton is already 14 years old, so some effects from lease decay can be expected.
To learn more about this transaction, and whether it is a good deal, click here.
