Queenstown seems to be on a roll. Just last Friday, we covered how a 5-room flat in the town crossed the S$1.7 million mark, setting a new national benchmark. Now, only days later, another record has been broken – this time for a much smaller flat type.
In February 2026, a 2-room resale flat was sold for S$695,000. With that, the most expensive 2-room HDB resale transaction in Singapore has officially been recorded. Clearly, demand in this mature estate remains strong. At the same time, buyers are showing that size is no longer the only driver of price.
Table of contents
- The most expensive 2-room HDB resale in Singapore to date
- A closer look at SkyParc @ Dawson’s location
- Schools and childcare options nearby
- Inside SkyParc @ Dawson: Design and layout
- The first 2-room transaction to break a nearly three-year record
- A rapid climb within the same project
- Smaller, yet more expensive
- Public housing versus private entry prices
- The next milestone: S$2 million?
The most expensive 2-room HDB resale in Singapore to date
The record-setting unit is located at Block 95 Dawson Road, within SkyParc @ Dawson.
The 506-square-foot flat changed hands for S$695,000, which works out to about S$1,373 per square foot. This marks the highest price ever achieved for a 2-room unit in both the project and the wider Queenstown resale market.
The unit sits on a high floor, between the 34th and 36th storeys. From this height, residents enjoy wide, unblocked views of the surrounding area. For many buyers, that sense of openness carries real weight.
Importantly, the development’s lease began in 2021. As a result, the buyer secured a home with around 94 years left on the lease. In mature estates like Queenstown, older flats often come with significant lease decay. Here, however, the buyer secured what is essentially a near-new lease in a central location.
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A closer look at SkyParc @ Dawson’s location
Location plays a key role in Dawson’s appeal.
The nearest train station is Queenstown MRT station, which is about a 10 to 15-minute walk away along Commonwealth Drive. Meanwhile, Commonwealth MRT station is also within a similar walking distance.
For shopping and dining, Great World City can be reached by bus or on foot. There, you will find supermarkets such as FairPrice Xtra, along with many eateries and retail shops. In addition, IKEA Alexandra, Anchorpoint Shopping Centre, and Queensway Shopping Centre are all nearby.
Daily essentials are also covered within the estate. A 7-Eleven, coffeeshops, and a wet market serve residents conveniently.
Schools and childcare options nearby
For families with young children, several childcare centres are located within a few minutes’ walk.
These include:
- E-Bridge Pre-School (95A Dawson Road, about 17m away)
- My First Skool (Strathmore Avenue, about 389m away)
- Little Paddington Preschool Tanglin Park (around 368m away)
- MindChamps Preschool @ Tanglin (around 317m away)
- PCF Sparkletots Preschool @ Henderson-Dawson (about 346m away)
When it comes to primary schools, Queenstown Primary School is the only one within the 1km priority enrolment range. Between 1km and 2km, you will find:
- Alexandra Primary School
- Gan Eng Seng Primary School
- New Town Primary School
- Zhangde Primary School
For outdoor activities, an Eco-Corridor park connector runs along the development. So, cycling and evening walks can easily become part of daily life.
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Inside SkyParc @ Dawson: Design and layout
SkyParc @ Dawson is known for its strong green design concept.
At ground level, an Eco-Corridor frames the estate. Above that, a roof garden sits atop the multi-storey carpark and is linked by bridges. Throughout the blocks, sky terraces and sky gardens are placed at various levels. For example, Block 94 features gardens on levels 8, 16, 33 and 39.
Facilities include 3G fitness corners, playgrounds, a precinct pavilion, retail spaces such as a 7-Eleven, and sheltered walkways. Educational mosaic panels featuring native insects can also be found around the estate.
The flats here are classified as Premium Apartments. Compared to standard BTO units, higher specifications and more thoughtful layouts are offered.
For the 2-room configuration, the 506-square-foot space has been planned carefully. A master bedroom with an attached bathroom is included. There is also a household shelter, which often doubles as storage. Meanwhile, the living and kitchen areas are connected in a way that makes the unit feel more spacious.
The first 2-room transaction to break a nearly three-year record
To understand how significant the S$695,000 deal is, it helps to look at the top 2-room transactions in recent years.
Here are the top 2-room resale transactions recorded in recent years:
| Date | Street | Floor | Area (SQM) | Resale price | Lease commence |
| February 2026 | Dawson Rd | 34 – 36 | 47 | S$ 695,000 | 2021 |
| August 2023 | Moh Guan Ter | 1 – 3 | 67 | S$ 585,000 | 1973 |
| June 2025 | Moh Guan Ter | 1 – 3 | 67 | S$ 578,000 | 1973 |
| March 2022 | Moh Guan Ter | 1 – 3 | 64 | S$ 560,000 | 1973 |
| February 2025 | Kim Tian Rd | 22 – 24 | 47 | S$ 550,000 | 2013 |
| July 2022 | Moh Guan Ter | 1 – 3 | 64 | S$ 550,000 | 1973 |
| September 2025 | Margaret Dr | 7 – 9 | 47 | S$ 545,000 | 2022 |
| June 2025 | Margaret Dr | 25 – 27 | 47 | S$ 540,000 | 2022 |
| December 2023 | Henderson Rd | 25 – 27 | 47 | S$ 540,000 | 2019 |
| December 2025 | Dawson Rd | 7 – 9 | 47 | S$ 540,000 | 2021 |
Before the recent S$695,000 transaction, the national record for a 2-room resale flat stood at S$585,000. That unit, located at Ghim Moh Valley in August 2023, had held the top spot for nearly three years.
Now, the latest sale at SkyParc @ Dawson has exceeded that benchmark by S$110,000, or 18.8%. This is not a small adjustment. Instead, it is a clear break from past pricing levels.
A rapid climb within the same project
What makes this even more striking is how quickly prices have moved even within the same development.
In December 2025, just two months earlier, another 2-room unit at Dawson Road on a lower floor (7th to 9th storeys) was sold for S$540,000. This works out to a S$155,000 difference in a short span of time. Clearly, elevation and unblocked views are commanding a strong premium. Buyers are placing real value on height, openness, and privacy.
Smaller, yet more expensive
Another interesting point lies in size comparisons.
Several of the earlier record transactions at Moh Guan Terrace measured 67 sqm. That is roughly 42% larger than the 47 sqm Dawson unit. Yet, those larger flats were sold for between S$560,000 and S$585,000.
So, despite offering much more space, they achieved lower prices.
This difference likely comes down to lease and specifications. The Moh Guan Terrace flats have about 50 years of lease remaining, whereas the Dawson unit comes with around 94 years left. In addition, the newer Premium Apartment finishes at SkyParc @ Dawson are seen as more attractive than the older fittings found in ageing blocks.
In short, buyers today appear willing to pay more for a longer lease and modern design, even if it means accepting a smaller floor area.
Public housing versus private entry prices
Nearby private projects such as Queens Peak and Alexis often see compact units transacting at much higher entry prices, between S$ 948,000 and S$960,000. Against that backdrop, choosing a premium 2-room flat at SkyParc can be viewed as a calculated decision where buyers are able to secure a central address, modern design, and strong connectivity while avoiding the higher quantum typically required for private property.
That said, not every 2-room flat in Queenstown commands record prices. According to 99.co’s research tools, the average 2-room unit in the town is priced at around S$370,000, or roughly S$730 psf. In fact, listings can still be found from about S$284,000. So, while this S$695,000 deal is striking, it remains an outlier.
The next milestone: S$2 million?
With 5-room flats already exceeding S$1.7 million, attention has naturally turned to the next milestone. The S$2 million mark for an HDB flat no longer feels impossible.
Many observers believe Dawson is the most likely location for such a breakthrough. Its central setting, limited supply of loft and premium units, and strong architectural identity create scarcity. At the same time, the price gap between public and private housing in the area continues to narrow.
For 2-room and 3-room flats, the trend is also clear. The S$695,000 transaction sets a new benchmark for high-end, small-format HDB homes. As more buyers focus on convenience, connectivity, and lifestyle, demand for high-floor units with open views in projects like SkyParc @ Dawson is expected to stay resilient.
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