Saturday, September 22, 2012

Pinnacle@Duxton residents won't sell, even for S$3 million

With all the news of resale HDB flats being sold at record prices, the majority of homeowners at Pinnacle@Duxton (pictured) have come forward to say they’re reluctant to sell their units, The New Paper reported. 

Eight out of 10 residents said they are unwilling to sell. Similar sentiments were also expressed by residents living near the top floor.

For instance, C.M. Foo, a resident on the 49th floor, said she would not sell her flat for S$1 million, or even S$3 million, because of the view available from the unit.

She and her husband, Foo Soo Lim, acquired the five-room flat in 2004 for S$450,000. The unit is on the highest residential level of the building and there is a sky garden on the 50th floor.

However, unit owners could change their mind come 2014 when the five-year Minimum Occupation Period (MOP) expires.

Units at Pinnacle@Duxton could reach record-level prices since it is the first 50-storey project in Singapore. It comprises 1,848 units spread over seven blocks.

Even National Development Minister Khaw Boon Wan said that there would be “many millionaires” when the flats at Pinnacle@Duxton enter the resale market.

View the original article here

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