Paterson Residence hits new high of $2,847 psf

A 1,658 sq ft, four-bedroom apartment on the 14th floor at Paterson Residence changed hands for $4.72 million, or $2,847 psf on Nov 21. The deal sets the highest recorded psf-price at Paterson Residence to date, and also topped the list of condo transactions that set psf-price highs over the week of Nov 18 to 25.

The new high at Paterson Residence came with the sale of a 1,658 sq ft unit for $4.72 million on Nov 21. (Photo: Samuel Isaac Chua/EdgeProp Singapore) 

The second-highest psf price transacted at Paterson Residence was 15 years ago, when a similar-sized four-bedroom unit on the 15th floor was sold for $4.6 million ($2,775 psf) in October 2010.

In terms of absolute price, the highest price transacted at Paterson Residence came from the sub-sale of a 4,812 sq ft, five-bedroom penthouse on the 23rd floor that fetched $12.03 million ($2,500 psf) in 2007.

Sitting on Paterson Road in prime District 9, Paterson Residence is a freehold condo that was completed in 2008. The development houses 110 units across a single 20-storey tower and a row of six strata-titled townhouses. The condo units are a mix of one- to four-bedroom units and penthouses, while the three-storey townhouses consist of terraces and semi-detached houses.

The luxury condo is close to the Orchard Road shopping belt, and is accessible via Orchard MRT station on the North-South and Thomson-East Coast Lines, as well as Great World MRT station on the Thomson-East Coast Line.

This year, the condo saw just five resale transactions at an average psf price of $2,684. This is marginally higher than last year, when it saw six transactions at an average of $2,391 psf.

Sky Eden@Bedok also recorded its highest psf price in this week’s list of condo transactions. A 689 sq ft two-bedder on the 15th floor was sold for $1.79 million, or $2,598 psf, on Nov 21. This marks the first sub-sale for the development since its launch in September 2022.

The previous psf-price high was set three years ago, when a similar-sized two-bedder on the 16th floor was sold by developers for $1.575 million ($2,286 psf). In terms of absolute price, the highest transaction recorded at Sky Eden@Bedok was for a 1,572 sq ft, four-bedroom unit that was sold for $3 million ($1,909 psf).

A 689 sq ft, two-bedder at Sky Eden@Bedok was sold for $1.79 million, or $2,598 psf on Nov 21. (Photo: Frasers Property)

Sky Eden@Bedok is a 99-year leasehold mixed-use development situated along Bedok Central. It consists of 158 residences, ranging from two- to four-bedroom units across two 16-storey towers, and 12 commercial units on the ground floor.

The property is close to the Bedok Integrated Transport Hub, which is connected to Bedok MRT station on the East-West Line and Bedok Mall. Bedok Reservoir MRT station on the Downtown Line is also a few minutes away by foot, with other amenities nearby such as Djitsun Mall Bedok and Heartbeat@Bedok.

Residential units at the condo are fully sold. In 2024, Sky Eden@Bedok saw an average psf price of $2,073 across 13 transactions. This is minimally higher compared to the year prior, where there were 23 transactions with a mean psf price of $2,096.

Meanwhile, freehold condo The Continuum saw its lowest psf-price this week, when a 560 sq ft single-bedder on the fourth floor was sold by developers for $1.38 million, or $2,465 psf on Nov 21. This is also the lowest absolute price ever transacted at The Continuum.

In terms of psf price, the latest transaction falls slightly below the previous record low in May 2023, when developers sold a 1,066 sq ft, three-bedroom unit for $2.74 million ($2,573 psf).

A 560 sq ft unit a The Continuum sold for $1.38 million on Nov 21, setting a new low of $2,465 psf (Photo: Hoi Hup Realty)

Situated between Tanjong Katong and Haig Road in District 15, The Continuum is slated for completion in 2027. Comprising six residential towers, the condo offers 816 residential units. These come in one- to five-bedroom configurations, with private lift access for bigger units.

The development is within walking distance of Dakota MRT (Circle Line) and close to Paya Lebar Interchange (Circle Line and East-West Line). Nearby amenities include Kinex Mall, City Plaza and Paya Lebar Quarters, while Tanjong Katong Girls’ School and Tanjong Katong Secondary School are within a 1km radius.

The condo was launched for sale in July 2023. Based on caveats lodged as of Dec 2, 631 units (77%) have been taken up at an average price of $2,810 psf.

Check out the latest listings for Paterson Residence properties