Paterson Residence Hits New High 2847 Psf
Record-Breaking Condo Sale at Paterson Residence
On November 21, a four-bedroom apartment at Paterson Residence, measuring 1,658 square feet and located on the 14th floor, was sold for $4.72 million, marking a price of $2,847 per square foot. This transaction not only set a new record for the highest price per square foot at Paterson Residence but also led the week’s condo transaction records from November 18 to 25.
For comparison, the Telok Blangah Road Condo GLS project is generating interest for its strategic location and promising development prospects similar to Paterson Residence, which is known for its prime location in District 9 and luxury living.
Previous Records and Condo Details
The last highest per square foot price at Paterson Residence before this was back in October 2010, when a similar four-bedroom unit on the 15th floor fetched $4.6 million, or $2,775 per square foot. The impressive freehold property, completed in 2008, comprises 110 units within a 20-storey tower and includes a mix of one to four-bedroom units and penthouses, along with six strata-titled townhouses.
Located on Paterson Road, the residence is conveniently close to the Orchard Road shopping district and accessible via Orchard and Great World MRT stations. This year, the building has seen a slight increase in resale transactions, with five sales averaging $2,684 per square foot, compared to six transactions at $2,391 per square foot last year.
Other Notable Transactions
Sky Eden@Bedok also saw a record-setting price per square foot this week. A 689 square foot two-bedroom unit on the 15th floor sold for $1.79 million, or $2,598 per square foot, marking it as the first sub-sale since its launch in September 2022. In terms of larger units, the highest absolute price at Sky Eden@Bedok was for a 1,572 square foot four-bedroom unit, priced at $3 million.
Concurrently, The Continuum experienced its lowest per square foot price in recent transactions. A 560 square foot single-bedroom unit on the fourth floor sold for $1.38 million, or $2,465 per square foot on November 21. The Continuum, a freehold development under construction in District 15, is expected to complete in 2027 and will offer units ranging from one to five bedrooms across six residential towers.
These diverse transactions highlight the dynamic nature of Singapore’s real estate market, reflecting varying consumer preferences and market conditions across different districts and developments.