The Most Expensive Resale Flat Just Sold for $1.7M in Queenstown — Is There No Limit to What Buyers Will Pay?

The record price for the most expensive resale HDB flat in Singapore has just crossed the $1.7 million threshold, with the sale of a 1,313 sq ft five-room flat at SkyTerrace @ Dawson. The Premium Apartment Loft unit, which is between the 19th and 21st floors, transacted for $1,295 psf this week.

Check out our insider tour of SkyTerrace @ Dawson here.

The record-breaking deal comes nearly eight months after the previous price high was set, which also involved the sale of a five-room flat at SkyTerrace @ Dawson. That unit fetched $1.659 million ($1,263 psf) when it was sold last June.

Both million-dollar flats are located in the same block – 92 Dawson Road, but the unit which sold for $1.659 million is located between the 22nd and 24th floors.

Separately, a record resale price for a five-room flat in Punggol was also set this week, when a 1,582 sq ft five-room flat transacted for $1.47 million this week. The unit is a Premium Apartment Loft between the 16th and 18th floors at TreeLodge @ Punggol, on Punggol Drive.

Read our exclusive review of TreeLodge @ Punggol here.

This deal trumps the previous price high for a five-room resale flat in Punggol, which involved a 1,603 sq ft five-room flat at Punggol Sapphire that changed hands for $1.23 million ($767 psf) when it was sold in April 2025. The unit is also a Premium Apartment Loft between the 16th and 18th floors.

Is the sky the limit at SkyTerrace @ Dawson?

Prominent resale flats at SkyTerrace @ Dawson have repeatedly made headline news in recent years for setting ever-higher resale prices within the Queenstown area, as well as the resale HDB market.

We’ve previously covered some of the most eye-watering deals at SkyTerrace @ Dawson, such as this article, when the record price back in July 2022 was $1.418 million. And we wrote about someone’s buying journey to purchase a flat there in 2021.

But with the latest record price of $1.7 million now set at the development, the big question is how much higher could we see resale prices rise in that project?

It’s worth noting that the recent record deal also involved a unit between the 19th and 21st floors, and it fetched a higher price compared to the $1.659 million that a seller paid for a higher floor unit (between the 22nd and 24th floors) less than a year ago.

I think enough ink has been spilt explaining the merits of SkyTerrace @ Dawson, as well as its neighbouring developments – the 810-unit SkyParc @ Dawson and 960-unit SkyVille @ Dawson. All three developments overlook the low-rise bungalows and Good Class Bungalows on Ridley Park, a view that is nearly unbeatable elsewhere in Singapore.

There are good reasons why the award-winning SkyTerrace @ Dawson is held in high acclaim; it clinched the Design of the Year award at the 2016 President’s Design Award. Designed by local architects SCDA Architects, the development features five residential towers of 40-43 stories with sky bridges within a landscaped environment.

It is the kind of housing project we typically associate with luxury private residential developments, in terms of the architecture, landscaping, and holistic living experience.

The units in block 92 at SkyTerrace @ Dawson have some of the best vantages without being blocked by the neighbouring SkyParc @ Dawson. This is likely why we repeatedly see prices climbing much faster there compared to the other four blocks.

For example, the highest resale price at block 93 is $1.27 million when a 1,022 sq ft four-room flat between the 28th and 30th floors transacted for $1,242 psf this month. Meanwhile, the highest resale price at block 91 is $1.35 million, which was set when a 1,022 sq ft four-room flat between the 37th and 39th floors changed hands for $1,321 psf last September.

I think a likely situation that will play out in the coming months is that the record $1.7 million price at SkyTerrace @ Dawson might embolden some owners to test the waters and list their properties for sale, but they might realise that a higher degree of price resistance has set in among most prospective buyers.

News of the latest price high might also embolden the owners of SkyParc @ Dawson to set higher asking prices and be much more firm in their price negotiations, given the newbenchmark price set within their locale.

Punggol

Meanwhile, in Punggol, some homeowners still seem eager to pay top-dollar for some of the choicest units in that town.

The record for a five-room resale flat was smashed when a 1,582 sq ft five-room flat at TreeLodge @ Punggol was sold for $1.47 million ($929 psf) this week. The unit, in block 306D Punggol Drive, is a Premium Apartment Loft between the 16th and 18th floors.

It trumps Punggol’s previous record for a resale five-room flat of $1.23 million, which involved a 1,603 sq ft five-room flat at Punggol Sapphire that changed hands for $767 psf when it was sold in April 2025.

According to resale transaction data, this is the first time that a resale unit at block 306D in TreeLodge @ Punggol has changed hands for more than a million dollars. The previous price high at that HDB development was $780,000 when a 1,044 sq ft four-room flat was sold for $747 psf back in May 2024. That unit was a Premium Apartment between the fourth and sixth floors.

Meanwhile, another Premium Apartment Loft unit at the neighbouring block 306C transacted for $1.22 million ($770 psf) earlier this month. This is also the first million-dollar resale unit in this block.

All the recent million-dollar resale transactions at TreeLodge @ Punggol have involved loft units, which are a rare unit type in the public housing market. In fact, there are just 37 loft units across all the HDB developments in Punggol, and TreeLodge houses 14 of these rare flats.

But TreeLodge also boasts attractive locational attributes that have become more apparent now that most of the services, amenities, community developments, and public transport links are more evident. For example, the project fronts the expansive green area of the Punggol WaterwayPark, and next to the HDB estate is Punggol View Primary School.

Other nearby amenities include the upcoming Punggol Sports Centre, which is due to open this year, SAFRA Punggol, and One Punggol Community Club. The nearest MRT station is Punggol Interchange on the North-East Line and Punggol LRT.

We should expect to see deals for more million-dollar flats closing this year as demand for larger units grows in tandem with the housing needs of a maturing resident population in Punggol. Although the availability of five-room flats across many HDB developments in the town might apply some price resistance among buyers.

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