{"id":8142,"date":"2016-03-15T12:01:26","date_gmt":"2016-03-15T05:01:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/pinnacleduxton-prices-unlikely-to-climb-much-higher\/"},"modified":"2016-03-16T21:08:24","modified_gmt":"2016-03-16T14:08:24","slug":"pinnacleduxton-prices-unlikely-to-climb-much-higher","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pinnacleduxton-prices-unlikely-to-climb-much-higher\/","title":{"rendered":"Pinnacle@Duxton prices unlikely to climb much higher"},"content":{"rendered":"


\nThree flats at the landmark project have been sold for over $1 million in 2016.
\nThe Pinnacle@Duxton in Tanjong Pagar has recorded three transactions of above $1 million so far this year for its 5-room flats, similar to the four deals seen in the first three months of 2015.
\nThe development has regularly made headlines in recent months. For example, a unit was sold for $1.08 million ($945 psf) in November 2015, the most expensive sale ever for a 5-room flat in Singapore. In January this year, a unit changed hands for approximately $1.07 million.
\nAccording to Eugene Lim, Key Executive Officer of ERA Realty, which helped to broker both deals, these flats commanded sky-high prices due to their unblocked, panoramic views of the city, and the Pinnacle\u2019s status as a landmark project.
\nAside from its proximity to MRT stations, another key selling point is the scarcity of such units. \u201cNot everyone at the Pinnacle wants to sell. Those who have decided to sell are leveraging to get the maximum premium for their units,\u201d Lim said.
\nBased on statistics from ERA, the two said transactions were three percent higher than the average transacted price of $977,846 for a 5-room flat at the project. But compared to older flats in the area, such as those at Smith Street and Tanjong Pagar Plaza, this translates to a premium of 25 percent to 46 percent.
\nThe current resale prices are also a far cry from the original selling price range of between $345,100 and $439,000 for the 5-roomers during the project\u2019s launch in 2004.
\nNevertheless, Lim noted that these record flat prices are unique to the Pinnacle. \u201cThey do not represent the majority of resale HDB transactions, which are trading at around valuation in the current market environment.\u201d
\nIt\u2019s also unlikely that prices of 5-room flats there will rise significantly higher or reach the $2 million mark, as home buyers could easily purchase a private apartment within the area for the same price, he said.
\nLooking ahead, prices of HDB resale flats are expected to remain stable, while transaction volume is expected to pick up as the reduced focus on cash-over-valuation (COV) premiums would attract buyers in immediate need of housing, or those who do not qualify for Build-To-Order (BTO) flats, added Lim.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Pinnacle@Duxton prices unlikely to climb much higher<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Three flats at the landmark project have been sold for over $1 million in 2016....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-8142","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-27k","jetpack-related-posts":[{"id":90768,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-1m-setting-new-record-for-5-room-flats-outside-pinnacle-duxton\/","url_meta":{"origin":8142,"position":0},"title":"Queenstown HDB flat sold for $1.1m, setting new record for 5-room flats outside Pinnacle @ Duxton","date":"June 7, 2018","format":false,"excerpt":"\r View of Block 18C Holland Drive. An HDB resale flat at Holland Drive in Queenstown has been sold for a sky-high price of $1.1 million in June, setting a new record for the most expensive 5-room unit sold outside the iconic Pinnacle @ Duxton housing project. The record also\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86150,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-08m-more-record-breaking-deals-expected\/","url_meta":{"origin":8142,"position":1},"title":"Queenstown HDB flat sold for $1.08m, more record-breaking deals expected","date":"April 23, 2018","format":false,"excerpt":"\r The 1,615 sq ft high-floor unit is close to Queenstown MRT station and Anchorpoint mall. (Photo: Mohamed Ameen) A HDB resale executive apartment at Block 148 Mei Ling Street in Queenstown, which has a balance lease of about 76 years, was sold this month for an eye-popping $1.08 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-hdb-flats-resold-for-over-1mil\/","url_meta":{"origin":8142,"position":2},"title":"3 HDB flats resold for over $1mil","date":"November 13, 2017","format":false,"excerpt":"\r Despite a steady drop in HDB resale prices, at least three units in Holland Village and Commonwealth have been sold for more than $1 million so far this year, reported the Straits Times. According to PropNex, one of them is a 36th-floor unit at Block 18D in Holland Drive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-million-dollar-hdb-flats-becoming-the-norm\/","url_meta":{"origin":8142,"position":3},"title":"Are million-dollar HDB flats becoming the norm?","date":"August 26, 2016","format":false,"excerpt":"\r The iconic Pinnacle @ Duxton has led to an uptick in million dollar flats sold per quarter. As we see recurring headlines of sky-high resale HDB transactions, should Singaporeans worry that such prices are becoming mainstream? We take a look in this issue of the Guru View. By Chang\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/GV-104-01.png?fit=530%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":22688,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-sold-for-over-1-million\/","url_meta":{"origin":8142,"position":4},"title":"Clementi flat sold for over $1 million","date":"August 12, 2016","format":false,"excerpt":"\r Clementi Towers is the first HDB project to be integrated with a bus interchange and shopping mall. Source: chinaconstruction.com.sg An 18th-storey flat in Clementi Avenue 3 was sold for $1,005,000 on the resale market earlier this month \u2013 a record for a 5-room Housing Board flat outside the iconic\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42513,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbss-flat-in-bishan-sold-for-record-1-18m\/","url_meta":{"origin":8142,"position":5},"title":"DBSS flat in Bishan sold for record $1.18m","date":"February 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Natura Loft, a DBSS project in Bishan. Source: ADDP Architects A five-room flat in Natura Loft, a Design, Build and Sell Scheme (DBSS) project in Bishan, has made headlines for becoming the most expensive resale transaction in a public housing development so far, reported The New\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8142"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=8142"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8142\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=8142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=8142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=8142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}