SINGAPORE - A five-room flat at the iconic Pinnacle @ Duxton has become the most expensive public flat ever in Singapore, after it was sold for a record $1.12 million in September.
According to data on the Housing and Development Board (HDB) website, the high-floor unit is located between the 43rd and 45th storeys of Block 1G, which was the first block to be completed at the Tanjong Pagar development.
The "S2" unit has an area of 1,140.97 square feet, meaning that the price tag works out to approximately $981.62 per square foot.
The sale is believed to represent the most expensive transaction of a five-room HDB flat in Singapore, breaking the previous record held by another Pinnacle @ Duxton unit that changed hands for $1,088,000 in November last year.
Chinese evening daily Lianhe Wanbao reported that the buyer is believed to be a professional, who was attracted to the unit for its unobstructed sea view.
The buyer also liked the flat's convenient location at the fringes of the central business district.
Mr Lim Yong Hock, key executive officer of PropNex Realty, told Wanbao that both public and private five-room flats today attract no shortage of interested buyers as long as they were centrally located and close to an MRT station.
There are a total of 1,848 units across seven blocks at the Pinnacle @ Duxton. When the project was launched in 2004, four-room flats were sold for between $288,400 and $392,100, while five-roomers fetched between $343,100 and $451,500, Wanbao reported.