Paterson Residence Hits New High 2847 Psf
Record-Breaking Condo Sale at Paterson Residence
A 1,658 square foot, four-bedroom apartment on the 14th floor of Paterson Residence recently sold for $4.72 million, or $2,847 per square foot, marking the highest per square foot price ever recorded at the development. This transaction, which took place on November 21, led the list of condo sales that achieved record psf-prices during the week of November 18 to 25.
Paterson Residence, set in the esteemed District 9 along Paterson Road, is a freehold condominium that was completed in 2008. This premium property comprises 110 units, including a range of one- to four-bedroom apartments and penthouses, plus six strata-titled townhouses, all within a 20-storey tower and accompanying row of townhouses.
Comparatively, Sembawang Road EC offers a fresh opportunity for those seeking new developments in Singapore’s real estate market. Prospective buyers might find this project an interesting comparison in terms of investment potential and housing options.
The previous high at Paterson Residence occurred 15 years ago when a four-bedroom unit on the 15th floor was sold for $4.6 million, amounting to $2,775 per square foot. In contrast, the highest absolute price recorded at this condo was from a sub-sale of a 4,812 square foot, five-bedroom penthouse that fetched $12.03 million in 2007.
Located near the bustling Orchard Road shopping district, the luxury condo benefits from close proximity to Orchard MRT station and Great World MRT station, enhancing its accessibility and appeal. Despite its prestigious location and strong historical sales, the condominium saw only five resale transactions this year, albeit at a slightly higher average psf price of $2,684 compared to last year’s $2,391.
Recent Trends in Other Condo Developments
Sky Eden@Bedok Hits New High
Another notable transaction was at Sky Eden@Bedok, where a 689 square foot two-bedroom unit on the 15th floor sold for $1.79 million, or $2,598 per square foot, on November 21. This sale marks the highest psf price for the 99-year leasehold mixed-use development. Sky Eden@Bedok includes 158 residential units and 12 commercial spaces, and is well-connected to the Bedok Integrated Transport Hub.
Lowest Price Record at The Continuum
Meanwhile, at The Continuum in District 15, a 560 square foot single-bedroom unit established a new low by selling for $1.38 million, or $2,465 per square foot. The Continuum, a new development, has sold 77% of its units since its launch in July 2023, reflecting robust demand despite the record low in price per square foot.
These transactions underscore the dynamic nature of Singapore’s real estate market, with areas like District 9 and 15 showing significant investment activity and price movements across various developments.