Market Math
$1.7M for an HDB Flat — What SkyTerrace @ Dawson Tells Us
Feb 13, 2026
The headline: A 5-room Premium Apartment Loft at Block 92 Dawson Road — SkyTerrace @ Dawson in Queenstown — just sold for $1.7 million, smashing the previous record of $1.66M set in June 2025. The unit spans 1,313 sqft across floors 19–21, working out to $1,295 psf. But the real story is what happens when the owner tries to upgrade. After 17 years of CPF usage, the clawback could be $400,000+.
The numbers
| Detail | Amount |
|---|---|
| Sale price | $1,700,000 |
| BTO price (2009) | ~$532,000 |
| Appreciation | +$1,168,000 (220%) |
| PSF | $1,295 |
| Flat type | 5-room Premium Apartment Loft |
| Location | Block 92 Dawson Road, Queenstown |
| Floor | 19th–21st storey |
| Size | 1,313 sqft |
| Lease remaining | ~82 years |
Transaction data from HDB resale records.
The part nobody talks about: CPF clawback
If the original buyer used CPF for the $532K purchase — say $150,000 down payment plus $1,200/month from OA over 17 years — the CPF clawback is eye-watering.
| Item | Amount |
|---|---|
| Sale price | $1,700,000 |
| CPF principal used (est.) | −$394,800 |
| CPF accrued interest (est.) | −$126,000 |
| Total CPF clawback | −$520,800 |
| Loan repayment (if any) | −$0 (likely paid off) |
| Cash in hand | ~$1,179,200 |
That's still a lot of cash. But the $520,800 going back to CPF isn't money you can spend — it sits in your OA. And if you're using it toward a condo, it only covers the non-cash portion of your down payment.
Calculate your own CPF clawback — plug in your actual numbers.
What could this buyer afford next?
With ~$1.18M in cash and $520K back in CPF OA, this seller has serious buying power. Assuming a combined household income of $15,000/month:
| Target Condo | Down (25%) | Monthly | Income Ratio |
|---|---|---|---|
| $1.5M | $375K | $6,270 | 42% |
| $2.0M | $500K | $8,360 | 56% |
| $2.5M | $625K | $10,450 | 70% |
Even with $1.7M from an HDB sale, a $2M+ condo starts to stretch on $15K/month income. The TDSR cap at 55% puts the realistic ceiling around $1.5M–$1.8M.
75% LTV, 25-year tenure, stress-tested at 4% for TDSR. BSD included in down payment estimates.
What this means for you
Your HDB probably didn't sell for $1.7M. But the same math applies at every price point. The CPF clawback is proportional to how much CPF you used and how long you've owned. A $550K flat with 10 years of CPF usage can still see a $200K+ clawback.
The question is always the same: after CPF takes its cut and you pay off your loan, how much cash do you actually walk away with? And is that enough to fund your next move?
Run your own numbers
Enter your HDB value, CPF usage, income, and target condo price. See exactly what you walk away with.
Run My NumbersRelated
Published Feb 13, 2026. Updated Feb 16, 2026 with corrected transaction price. Transaction data from HDB resale records. CPF estimates are illustrative — check my.cpf.gov.sg for your exact numbers.
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