$1.818M at SkyParc @ Dawson: Singapore’s Most Expensive HDB Resale Flat, and Is $2M Next?

Key takeaways

• The October 2026 sale at SkyParc @ Dawson is the highest HDB resale price on record, at $1,818,000.
• It beat the previous record, $1.728 million at City Vue @ Henderson in April 2026, by about 5.2%.
• A 5-room flat on a low floor in the same block sold for $318,000 less in the same month. Floor level, size and condition move prices a great deal.
• The wider market is calmer. HDB’s Resale Price Index fell 0.1% in Q3 2026, the third straight quarterly decline, even as resale volumes rose. See our Q3 2026 HDB resale price flash estimate.
• Record prices are outliers. They are not a guide to what most flats in the estate will fetch.

Background

SkyParc @ Dawson was completed in December 2020 and sits near Queenstown and Commonwealth MRT stations. Its flats carry a 99-year lease that began in 2021, so they have about 94 years left, one of the longest remaining leases available in a city-fringe resale flat.

A property analyst interviewed by AsiaOne attributed the record to the unit’s high floor, its location close to the city and its size. At about 111 sqm, it is relatively large for a newer 5-room flat, which makes it a rare offering on the resale market.

This is the latest in a run of high-value HDB transactions we have tracked this year, including the Pinnacle@Duxton record, the $1.54M 5-room sale at Bedok South Horizon and September 2026’s million-dollar resale records.

The policy backdrop: the 15-month wait-out is gone

From 28 July 2026, private property owners and former owners buying a non-subsidised HDB resale flat without an HDB housing loan no longer need to serve the 15-month wait-out period, which was introduced in 2022 as a temporary measure. Our article on the removal of the 15-month HDB wait-out period explains who qualifies.

The same analyst told AsiaOne that the change could encourage more private homeowners to right-size to HDB resale flats. The wait-out still applies to buyers who take an HDB loan; HDB loan vs bank loan covers how the financing choice affects this. Other HDB eligibility rules remain, so check your own position with HDB before committing.

My view from the ground

This section is my personal view as an agent working in this market. It is based on what I observe while serving clients, not on official data, and it is not a forecast or a guarantee of future prices.

More activity since the wait-out was removed

Since the 15-month wait-out was lifted, I have been accompanying buyers who are looking at this area. At almost every viewing we attended, there were plenty of other viewing groups. My read is that part of this interest comes from private property owners who can now move directly into an HDB resale flat without the waiting period.

Dawson sells itself

The Dawson name carries weight on its own: the location, the design of these projects and their track record of high transactions. Add a long remaining lease and a well-kept flat, and you have the conditions for a strong price.

Sellers anchor on the latest record

This is a common mentality of any seller, and I understand it. When you own a similar unit, you look at the latest transaction and try to achieve a bit more. Each new record tends to become the starting point for the next round of asking prices.

Is $2 million coming?

In my personal view, an HDB flat reaching the $2 million mark looks more a matter of when than if. Two forces are at play: HDB prices have appreciated gradually over time, and private property owners who sell and right-size often come in with a bigger budget. There have already been listings with asking prices above $2 million that caused a stir in the market and were eventually adjusted. An asking price is not a transaction, and those adjustments are a reminder that buyers still decide where the ceiling is.

We have seen this before

I remember when a $1 million HDB price tag was first talked about and many people thought it unrealistic. It happened, and today flats above $1 million are increasingly common. That is why I do not dismiss the $2 million conversation, while still recognising that it would be an exceptional unit, not the norm.

What remains unchanged

• Each flat is priced on its own floor, facing, size, condition and remaining lease.
• A record sale does not raise the value of every flat in the block or estate.
• The 15-month wait-out still applies to buyers who take an HDB loan.
• HDB eligibility rules for resale flat buyers continue to apply.
• No resale price, timeline or outcome is guaranteed.

Planning considerations

1. If you are selling a similar flat, price against true comparables

A headline record is a useful data point, but the same-block comparison above shows how far price can move with floor level and size. Start from recent transactions of the same flat type, storey band and size. A property valuation based on comparables is a sensible first step.

2. Expect the sale process, not just the price, to matter

Once offers come in, timelines and cash over valuation shape the outcome. Our guides on how long it takes to sell an HDB flat and cash over valuation explain what to expect.

3. If you are buying, look past the headline

Check the transacted range for your target block and flat type in HDB’s resale data before you make an offer. For the wider picture, read our overview of the HDB resale market in 2026.

4. If you are a private owner thinking of right-sizing

The removal of the wait-out makes the move easier for cash and bank-loan buyers, but the sequence of selling and buying, timelines and eligibility still need careful planning. The property planning page and the guide to selling your private property are good starting points.

5. Get a frank read on your own flat

If you would like an honest view of what your flat could realistically achieve, the HDB selling page explains how Melvin approaches pricing and the sale process. You can also get in touch directly.

FAQ

This article provides general information only and is not financial, legal or property advice. Past transaction prices do not indicate future prices. The views in “My view from the ground” are the personal opinion of the author. Melvin Tan, ERA Realty Network Pte Ltd, CEA Reg No. R026686A.