A 4-Room Queenstown HDB Just Sold For A Record $1.388M — On A Lower Floor Than The Previous High

A four-room flat at SkyParc @ Dawson has set a record resale price for this unit type in Queenstown. The 980 sq ft unit between the 19th and 21st floors at 94 Dawson Road changed hands for $1.388 million ($1,417 psf) when it was sold last week.

This is a marginal increase of $8,000 over the previous record for a resale four-room flat in Queenstown. The runner-up is a 1,023 sq ft four-room flat, between the 34th and 36th floors, at SkyTerrace @ Dawson which sold for $1.38 million ($1,350 psf) in August 2024.

But what makes the latest deal noteworthy is the floor of the current record-holding unit, compared to the previous high-floor record holder. The difference in terms of the floors gives us a hint about where buyer conviction in this cluster of prime HDB developments lies today.

What makes this 4-room flat at SkyParc @ Dawson stand out

SkyParc @ Dawson is a Build-To-Order (BTO) project that was a Selective En bloc Redevelopment Scheme (SERS) replacement for the former owners of Tanglin Halt. 

Completed in 2021, we spoke highly about the project when we reviewed it back in 2021. Since then, several resale flats at SkyParc @ Dawson, as well as the neighbouring developments of SkyVille @ Dawson and SkyOasis @ Dawson, have set record resale prices.

In May, we wrote about a three-room flat at SkyParc @ Dawson that fetched a record price of $900,000.

The 810-unit SkyParc @ Dawson comprises three residential blocks of 34 to 43 storeys, with a unit mix that consists of two- to five-room flats. At Block 94, the 43-storey block contains 270 units with a mix of 122 three-room and 148 four-room flats.

The block’s tenure started in October 2021 and has about 94 years left on its lease. This makes the flats in SkyParc @ Dawson among the youngest batch of resale flats in Queenstown to hit the market.

For buyers taking a bank loan to support their million-dollar purchase of a resale HDB flat there, that lease length is well within the threshold for calculating the loan quantum based on the maximum loan tenure.

The $1,417 psf is also notably higher than the previous record of $1,350 psf, given the minor difference in size between the units. Overall, it matches a steady price progression at SkyParc @ Dawson, as well as within Block 94, over the past year.

In March 2026, a four-room 947 sq ft unit between the 10th - 12th floors was sold for $1.23 million. It was followed by the sale of a four-room 980 sq ft unit between the 28th - 30th floors that changed hands at the same price when it was sold in June 2026.

In August 2026, a four-room 893 sq ft unit between the 28th and 30th floors was also sold for $1.158 million.

The latest record represents a step change from preceding sales. The jump from the next-highest in-block transaction is a price difference of $158,000, and we believe this is a significant leap in the price gap within a short span of time.

Other Top Sales in Block 94 Dawson Road

Block	Street	Month	Storey	Size (sq ft)	Price
94	DAWSON RD	2026-09	19 TO 21	980	$1,388,000
94	DAWSON RD	2026-03	10 TO 12	947	$1,230,000
94	DAWSON RD	2026-06	28 TO 30	980	$1,230,000
94	DAWSON RD	2026-08	28 TO 30	893	$1,158,888
94	DAWSON RD	2026-07	16 TO 18	893	$1,111,000
94	DAWSON RD	2026-06	13 TO 15	893	$1,090,000

When we took a look at the transaction history at SkyParc @ Dawson, some interesting trends stood out. Such as the sale of a flat between the 28th to 30th floors - and matching size 980 sq ft - fetched $1.23 million when it was sold in June 2026. That unit is nine floors higher than the record-setting flat.

In short, this means the record-setting buyer paid $158,000 more for a unit nine floors lower in the same block.

That so-called inversion, where a lower floor commands a higher price, echoes what we have seen at other high-demand BTO clusters, where the usual floor premium seems to disappear in the face of timing, specific facing, and overall market sentiment.

Recent Transactions in Queenstown

To put the new record in context, here are the five highest four-room resale transactions recorded in Queenstown.

Top 5 Highest Four-Room Resale Transactions in Queenstown

Block	Street	Month	Storey	Size (sq ft)	Price
94	DAWSON RD	2026-09	19 TO 21	980	$1,388,000
90	DAWSON RD	2024-08	34 TO 36	1,023	$1,380,000
92	DAWSON RD	2025-06	40 TO 42	1,044	$1,370,000
91	DAWSON RD	2025-09	37 TO 39	1,023	$1,350,000
90	DAWSON RD	2026-01	37 TO 39	1,044	$1,330,888

A closer examination of the resale data suggests a pattern where each of the previous top five four-room resale transactions in Queenstown has come from the handful of prime BTO developments in the Dawson Road cluster - specifically from Blocks 90, 91, and 92 at SkyParc.

Now that Block 94 has entered the picture, the sales there are pushing the price ceiling of this cluster even higher.

It is also worth noting the floor distribution among the previous top five sales. Those transactions ranged from the 34th to 42nd floors, with prices between $1.33 million and $1.38 million. But the $1.388 million record deal was for a unit on the 19th to 21st floors, and well below every prior record-setter in this cluster.

Most Recent Four-Room Resale Transactions in Queenstown (September 2026)

Block	Street	Month	Storey	Size (sq ft)	Price
94	DAWSON RD	2026-09	19 TO 21	980	$1,388,000
33	GHIM MOH LINK	2026-09	22 TO 24	1,001	$1,246,000
87	DAWSON RD	2026-09	40 TO 42	893	$1,210,000
31	GHIM MOH LINK	2026-09	34 TO 36	1,001	$1,200,000
33	GHIM MOH LINK	2026-09	28 TO 30	1,001	$1,185,000
89	DAWSON RD	2026-09	25 TO 27	893	$1,180,000

The most recently registered four-room transactions in Queenstown this month suggest the emergence of a two-tier nature of the market. Before the latest transaction, popular BTO developments at Dawson Road and Ghim Moh Link already dominated the top of the price table, with transactions ranging from $1.18 million to $1.246 million.

Over the past 12 months, the median resale price for four-room flats across Queenstown was $1.02 million, based on 324 transactions. The record-setting flat therefore managed to command a price that is $368,000 above the median price for this flat type in Queenstown.

What attributes led to the sky-high prices at SkyParc @ Dawson?

With about 94 years left on their land tenures, the flats at SkyParc @ Dawson offer resale units with some of the longest remaining leases among four-room flats in Queenstown. Most of the existing four-room flats in this mature estate consist of older flats with significantly shorter remaining leases, which may lead to financing issues for some younger buyers.

SkyParc @ Dawson is also among the newer HDB developments in Queenstown. Hence, the newer flats with modern layouts and near-full lease tenure appeal to buyers who want to remain in Queenstown without inheriting the lease concerns of older blocks.

In addition, the unit mix at SkyParc @ Dawson, and within Block 94, contributes to the buoyant price growth. With 148 four-room units across a 43-storey tower, scarcity has helped to support price growth and hand the initiative to sellers at the negotiating table. 

There are also desirable lifestyle and design factors that make this development all the more appealing. A highlight of living at this estate are its sky terraces and roof gardens, which offer unblocked views of the neighbouring Ridley Park Good Class Bungalow (GCB) area and the lifestyle cluster along Dempsey Road.

SkyParc @ Dawson also enjoys good connectivity, with most blocks located within a 10-minute walk to Queenstown MRT station, and several established schools - including Queenstown Primary School - within 1km. Other schools in the vicinity include Alexandra Primary School and Gan Eng Seng Primary School which are within 2km.

The relatively new housing estate at Dawson has established a network of amenities including eateries, clinics, childcare centre and a 24-hour supermarket, a student care centre, a senior activities centre and an RC centre. SkyParc @ Dawson features a minimart, childcare centre, and retail shops.

All of these help us to contextualise the broader price trajectory taking shape at the BTO projects in the Dawson Road cluster. Across the top five prior four-room records in Queenstown - which all involved blocks along this road corridor - prices climbed from $1.3 million in July 2024 to $1.38 million in August 2024. This was before the new record of $1.388 million set the bar even higher.

Thus, what distinguishes the latest record is not just the absolute price of the sale, but what it implies about where price expectations have been set. If a mid-floor unit at Block 94 can clear $1.388 million, it suggests that upper-floor units in the same block and surrounding blocks may reach higher benchmarks in the months ahead.