A four-room flat at Pinnacle@Duxton recently sold for $1.518 million β a record-breaking price for public housing. While many are amazed by the figure, this sale holds important lessons for HDB homeowners who are thinking about selling.
Source: https://www.tnp.sg/news/pinnacle-duxton-flat-bought-378k-15-years-ago-sold-15m?
As a real estate agent, I’ve worked with many homeowners in similar situations. Here’s my perspective on what this sale means and how you can prepare for your own property journey.
1. Timing Is Everything in Property Sales
Ms Wu, the seller, held onto her flat for 15 years before deciding to sell. Although her husband wanted to sell earlier, she waited until the market aligned with her price expectations.
π This shows how patience and good timing can help you maximise your sale. Monitoring property trends and knowing when to enter the market can make a big difference. If you are unsure about your timing, a Property Analysis Report can help you understand if now is the right time to sell.
2. Unique Features Can Push Up Your Property Value
The unit sold was on the 49th floor, offering stunning city views and a cool breeze β something many buyers value but not every flat offers.
π If you’re planning to sell, think about what makes your home special. High floors, unblocked views, privacy, and recent renovations can all add value to your flat. Highlight these features in your listing to attract more serious buyers.
3. Price Your Flat Right to Attract Serious Buyers
Ms Wu priced her unit near market value — she asked for $1.52M and sold for $1.518M. Because her price was realistic, she had many buyers coming to view her flat.
π Setting the right price is key to attracting buyers and closing fast. Overpricing can turn buyers away, while underpricing leaves money on the table. A Property Analysis Report can help you see recent sales in your block and set a competitive price.
4. Watch What’s Happening Around You
Ms Wu mentioned that other families on her floor had already moved out. This made her think seriously about selling. While she still secured a great price, sometimes waiting too long can reduce demand.
π If you notice neighbours selling or moving out, it may be time to consider your options. Acting while demand is still high can help you get a better price.
5. Know What You’ll Really Walk Away With
Selling for $1.5M sounds great, but remember that outstanding loans and CPF refunds (with accrued interest) must be repaid. Whatβs left in cash proceeds is often less than the sale price.
π Before you decide to sell, know how much money you’ll actually get. Use a Sales Proceeds Calculator to estimate your cash proceeds after deductions. This will help you plan your next home purchase, investment, or retirement savings.
Final Thoughts
The Pinnacle@Duxton sale teaches us that the right home, sold at the right time, and priced correctly, can achieve amazing results. But it also shows that planning and understanding the process are crucial.
If you’re thinking of selling your HDB flat — whether this year or later — don’t guess your home’s value or your expected cash proceeds.
π Get a free Property Analysis Report or try our Sales Proceeds Calculator today to see where you stand.
Contact Zaidean now for personalised advice and confidently plan your next move.