Queenstown HDB Resale Smashes Records: $1.66M Loft Sale Signals Booming Market

Hot News

The Singapore HDB resale market continues to break barriers, with Queenstown emerging as the hottest spot for premium public housing transactions. The latest headline-grabbing deal? A stunning five-room loft unit at SkyTerrace @ Dawson that just changed hands for an eye-watering $1,658,888 - setting a new benchmark for five-room flats in Singapore's public housing landscape.

Prime Location Meets Premium Price Tag

Nestled between the 22nd and 24th floors of Block 92 Dawson Road, this spacious 1,313 sq ft loft unit commanded a price per square foot of $1,263. What makes this transaction particularly noteworthy is the property's relatively young age - with its lease commencing in 2016, buyers are securing a home with nearly 90 years remaining on its tenure.

A Million-Dollar Profit Story

The numbers behind this sale tell a remarkable tale of property appreciation. Originally purchased as a BTO flat in December 2009 for approximately $532,000, the seller stands to pocket an astonishing profit of about $1.13 million after just nine years - representing an impressive capital gain exceeding 100% before accounting for agent fees or government subsidies.

For the buyer though, this premium purchase likely came with substantial cash outlay - industry estimates suggest they may have paid nearly $230,000 above valuation to secure this coveted unit.

Why Buyers Pay Top Dollar in Dawson

The SkyTerrace development offers more than just bragging rights:

Unbeatable Connectivity: Just an eight-minute stroll from Queenstown MRT via scenic park connectors puts CBD workplaces within easy reach
Culinary Convenience: From neighborhood malls like Dawson Place to SkyParc's two-story hawker center with 40 stalls
Educational Excellence: Multiple preschools within walking distance plus Queenstown Primary School within coveted 1km radius
Tranquil Living: The Dawson Community Eco-Corridor transforms former road spaces into lush green retreats