First official 5-room resale unit at this Margaret Drive HDB flat transacts for $1.4m

SkyOasis @ Dawson has recorded its first five-room resale transaction in July 2026. 

While there were reports of a five-room flat changing hands for $1.73 million in 2024, the deal never appeared in HDB's publicly available resale records. 

As such, the recent sale marks the first official transaction for the project. The transacted price, however, is notably lower than the previously reported figure.

First 5-room resale at SkyOasis @ Dawson hits $1.4m

In early July 2026, a five-room flat at SkyOasis @ Dawson was officially transacted. The 1,163 sqft unit, located between the 13th and 15th storeys of Block 40A Margaret Drive, changed hands for S$1.39 million, translating to around S$1,195 psf.

The Premium Apartment is one of the replacement flats built under the Selective En bloc Redevelopment Scheme (Sers). 

With its lease commencing in 2022, the flat still has approximately 94 years and seven months remaining, making it one of the newest HDB developments on the resale market.

Although $1.4 million is a sizeable sum for a resale HDB flat, the transaction is relatively modest compared with other recent five-room resale deals in the Dawson estate. 

So far in 2026, eight five-room resale transactions have been recorded across the Dawson cluster at an average of $1,244 psf.

At $1,195 psf, the SkyOasis transaction is around 3.9 per cent lower than the neighbourhood average on a per-square-foot basis.

About SkyOasis @ Dawson

SkyOasis @ Dawson is one of the Sers replacement projects for the former Tanglin Halt estate. 

The 1,192-unit development comprises six residential blocks ranging from 26 to 45 storeys and offers a mix of two-room Flexi, three-room, four-room and five-room flats.

The HDB project is located within walking distance of Queenstown MRT station on the East-West Line and sits next to Queenstown Primary School and Margaret Drive Hawker Centre, making it an attractive option for families seeking a centrally located HDB estate.

Residents of SkyOasis @ Dawson have access to a range of communal and recreational facilities centred around the estate's open green spaces. 

These include children's playgrounds, fitness corners for adults and seniors, a jogging track, as well as rest shelters and precinct pavilions that provide spaces for residents to gather and unwind.

Meanwhile, publicly accessible sky terraces on the 14th and 35th storeys of selected residential blocks offer elevated green spaces with panoramic views, while the rooftop garden above the multi-storey car park includes a community garden where residents can enjoy gardening or simply relax.

Beyond the estate, residents can easily access the adjacent Alexandra Canal Linear Park, which provides additional opportunities for walking, jogging, cycling and rollerblading.

What happened to the reported $1.73m resale in 2024?

Back in 2024, reports emerged that a 1,195 sqft 5-room flat at the development had been sold for $1.73 million, or roughly $1,444 psf. Had it been completed, the deal would have set a new record for Singapore's most expensive HDB resale, surpassing the previous benchmark of $1.59 million achieved by a five-room flat at CityVue @ Henderson a month prior.

However, as the $1.73 million transaction never appeared in HDB's resale database, it is possible that the deal was never completed. 

And as HDB has not publicly commented on the matter, the reason remains unknown.

Recent national record-breaking sale in the Dawson estate

Interestingly, the $1.7 million benchmark for an HDB flat has since been achieved elsewhere in the Dawson estate. In February 2026, a 1,313-sqft, five-room flat at SkyTerrace @ Dawson was officially recorded selling for $1.7 million.

At the time, it became the most expensive HDB flat ever sold in Singapore, before the record was surpassed just two months later by a Bukit Timah flat that transacted for $1.73 million.

Located between the 19th and 21st storeys, the $1.7 million transaction at SkyTerrace worked out to approximately $1,294 psf — around 8.3 per cent higher than the $1,195 psf achieved by SkyOasis @ Dawson's first recorded five-room resale.

These transactions suggest that while million-dollar HDB sales have become increasingly common in Dawson, pricing can still vary meaningfully depending on various factors. 

As a result, buyers may still find relatively better value within the precinct despite its reputation as one of Singapore's priciest HDB estates.

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This article was first published in 99.co.