Couple makes S$1.14M profit from sale of 4-room Pinnacle@Duxton flat purchased 20 years ago

Pinnacle@Duxton unit purchased 20 years ago for S$378,000 sold for S$1.518 million to family of 3

In 2005, Wu Yuping (name transliterated from Mandarin) and her then-boyfriend, now-husband spent just S$10 to try their luck and apply for a unit at the newly launched The Pinnacle@Duxton.

Source: Heritage Collection

Thanks to a favourable queue number, they secured a four-room flat on the 49th floor, purchasing it for only S$378,000.

When they received the keys in 2010, the couple tied the knot and moved into their new home.

They lived in the unit for five years before relocating to Jurong to care for their parents, renting out the flat that they had invested thousands in renovating.

Recently, the couple sold the unit to a family of three for S$1.518 million, setting a new record high and netting an impressive S$1.14 million profit.

Pinnacle@Duxton transaction sets new resale record

According to data on the Housing & Development Board (HDB) website, the unit is located in Block 1C, spans 94 sqm, and has 85 years and two months remaining on its lease.

Source: Housing & Development Board

This sale marks the highest resale price ever for a four-room flat, surpassing even the price of a five-room unit in the same block, which sold for S$1.515 million last May.

In an interview with Shin Min Daily News, Ms Wu, a 49-year-old hardware store salesperson, explained that she initially listed the unit for S$1.55 million on the HDB website last September, drawing interest from multiple potential buyers.

Ultimately, the flat was sold to a 41-year-old Singaporean couple with a 12-year-old son.

Source: Shin Min Daily News

The deal was initially set at S$1.52 million, but the buyers requested a S$2,000 discount for “good luck” — a request Ms Wu agreed to, bringing the final sale price to S$1.518 million.

Ms Wu also revealed that the final sale price of S$1.518 million is actually S$108,000 higher than HDB’s estimated value of S$1.41 million.

“There are six households on this floor, and as the neighbours gradually moved out, the resale price has now aligned with the market standard, so I decided to sell,” she explained. “In fact, my husband had suggested selling the house years ago, but I kept postponing it.”

She will hand over the keys to the new owners in May.

Excellent location & high floor boost flat’s appeal

Experts consulted by Shin Min Daily News pointed to several key factors that contributed to the high resale price of the unit, including its prime location, high demand, and its position on a high floor offering excellent views.

Christine Sun, Chief Researcher and Strategist at property agency OrangeTee & Tie, noted that the strong prices of nearby private residences also helped maintain the flat’s value.

Additionally, the area’s limited government housing supply and the absence of newly built estates nearby further add to its appeal.

With similar-sized private homes in the vicinity often priced above S$2 million, buyers may have felt they were getting good value for money in a high-density residential unit near the city centre.

Nicholas Mak, Chief Research Officer at Mogul.sg, added that the unit’s top-floor location offers unobstructed views — something many buyers are willing to pay a premium for.

Given Singapore’s consistently hot and humid climate, proper ventilation is also a highly desirable feature.

Also read: 4-room Toa Payoh flat sold for S$1.201M, becomes most expensive in the estate

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Featured image adapted from Wikimedia Commons and Shin Min Daily News.