Paterson Residence Hits New High 2847 Psf
Record-Breaking Condo Sales in Singapore
On November 21, a noteworthy sale was made at Paterson Residence, where a 1,658 sq ft, four-bedroom apartment on the 14th floor sold for $4.72 million. This sale price translates to $2,847 per square foot (psf), marking the highest psf price achieved at this location to date. This transaction led the week’s condominium sales, surpassing previous records set for psf prices.
Paterson Residence, situated on Paterson Road in the prime District 9, is a freehold development completed in 2008. It comprises a 20-story tower and six strata-titled townhouses, totaling 110 units. These range from one- to four-bedroom apartments and penthouses, in addition to three-story terraced and semi-detached townhouses. Its proximity to the Orchard Road shopping belt and accessibility via Orchard and Great World MRT stations enhance its appeal.
Singapore Condo provides insights into various properties similar to Paterson Residence, offering potential buyers detailed comparisons and options in Singapore’s vibrant real estate market.
Previously, the second-highest psf price at Paterson Residence was set back in October 2010, when a similar four-bedroom unit on the 15th floor fetched $4.6 million, or $2,775 psf. Notably, the highest absolute price was for a 4,812 sq ft, five-bedroom penthouse on the 23rd floor, which sold for $12.03 million ($2,500 psf) in 2007.
Other Notable Condo Transactions
In the same week, Sky Eden@Bedok also saw a record-setting transaction. A 689 sq ft two-bedroom unit on the 15th floor was sold for $1.79 million, or $2,598 psf, representing the highest psf price for the development since its launch in September 2022. Sky Eden@Bedok, a 99-year leasehold mixed-use development, features 158 residential units and is well-situated near Bedok MRT station and various amenities.
Conversely, The Continuum experienced its lowest psf price transaction recently. A 560 sq ft single-bedroom unit sold for $1.38 million ($2,465 psf) on November 21. Located between Tanjong Katong and Haig Road in District 15, this upcoming development promises a variety of residential options, with completion expected in 2027.
These transactions highlight the dynamic nature of Singapore’s real estate market, reflecting the high demand and value attributed to strategically located and well-facilitated properties.