A two-room flat at a premium area in Singapore has changed hands for SGD695,000 (US$549,000), marking a record high for this flat type.
The 47-square-meter unit, which has just fulfilled its minimum occupation period, is situated at the SkyParc @ Dawson development at Block 95 Dawson Road, based on data from the Housing and Development Board’s website. It carries a remaining lease of 94 years and nine months.
The transaction represents the highest officially recorded price for a two-room resale flat in Singapore, according to property listing platform 99.co.
The Housing and Development Board’s data shows that the previous two-room resale flat in the same block was sold for SGD540,000 last December.
Skyparc @ Dawson development in Singapore. Photo by Google Maps |
Prior to the recent SGD695,000 deal, the national record stood at SGD585,000. That benchmark was set by a unit in Ghim Moh in August 2023 and held the top spot for nearly three years.
Completed in December 2020, SkyParc @ Dawson is located near Queenstown and Commonwealth MRT stations.
The development, comprises 810 two-room flexi units along with three-, four- and five-room flats spread across three blocks.
Last May, National Development Minister Chee Hong Tat said resale flat prices could begin to ease from 2026, according to AsiaOne.
He noted that rising resale prices have been a concern for Singaporeans, adding that delays to build-to-order projects during the Covid-19 pandemic were one factor contributing to the increases.
Chee said he expects conditions to improve in 2026 as more flats completed in recent years meet their five-year minimum occupation period.
“Once we see more supply coming in and also coupled with more new build-to-order flats entering the market, I think we will see moderation,” he said.
Comments are closed.