The Paterson hits new price high of $2,800 psf
A resale deal at The Paterson has topped the list of transactions that set new condo psf-price highs over the week of Feb 24 to March 3. The condo recorded a new high of $2,800 psf when a 1,421 sq ft three-bedder on the 10th floor changed hands for $3.98 million on March 3. This is the first time the development has hit the $2,800 psf threshold.
A 1,421 sq ft three-bedder at The Paterson changed hands for $3.98 million, or $2,800 psf, on March 3 (Photo: Google Maps)
Previously, the record psf price at the development belonged to a 1,464 sq ft, three-bedroom apartment on the 15th floor. It was sold in February last year for $3.85 million, translating to $2,630 psf. Meanwhile, the record for absolute price is held by a 3,068 sq ft, four-bedroom penthouse on the 20th floor, which changed hands for $5.75 million, or $1,875 psf, in 2010.
Last year, the development saw two resale transactions, at an average of $2,491 psf. The price is marginally higher than in 2024, which saw six deals at a mean psf-price of $2,426.
Located in District 9, The Paterson is a freehold boutique condo that was completed in 2004. It houses 88 units in a 22-storey tower, with apartments ranging from two- to four-bedroom units and penthouses measuring 1,206 to 3,283 sq ft. The Orchard MRT interchange on the Thomson-East Coast and North-South lines is within walking distance, with amenities along the Orchard Road shopping belt nearby.
Another condo that saw its highest psf-price during the week in review was Parc Esta. A 1,119 sq ft three-bedder on the seventh floor was sold for $2.95 million, or $2,635 psf, on March 3.
Parc Esta saw its highest psf-price when a three-bedroom unit was sold for $2.95 million, or $2,635 psf, on March 3 (Photo: Google Maps)
Prior to this deal, the top transaction occurred when a 926 sq ft, three-bedroom unit on the 13th floor changed hands for $2.42 million, amounting to $2,612 psf, on Feb 6. In the same month, the development also recorded its peak quantum price, when a 1,399 sq ft five-bedder on the 16th floor fetched a price tag of $3.6 million, or $2,573 psf.
In terms of average prices, the development saw 127 resale deals last year, at $2,304 psf. This is minimally higher than the year prior, when 107 transactions were recorded at an average price of $2,238 psf.
Situated along Sims Avenue, Parc Esta is a 99-year leasehold condo that was completed in 2022. It has 1,399 units spread across nine 18-storey blocks, offering one- to five-bedroom layouts spanning 420 to 1,604 sq ft.
Sitting across the road from Eunos MRT Station on the East-West Line, the condo is a few minutes’ walk away from amenities at City Plaza, Kinex Mall, Paya Lebar Quarter, SingPost Centre and Paya Lebar Square. Haig Girls’ School is also within a kilometre.
Read also: Goodwood Grand lands new high of $2,934 psf
Sky@Eleven is another development that charted its highest psf-price during the period in review when a 2,271 sq ft, three-bedroom apartment on the 37th floor changed hands for $5.75 million, or $2,532 psf, on Feb 26.
On Feb 26, a three-bedroom apartment on the 37th floor of Sky@Eleven changed hands for $5.75 million, or $2,532 psf (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This is the first time the development has seen a transaction surpass $2,500 psf. The latest deal trumps the previous psf-price high of $2,343 psf, set on Jan 9, when a 1,851 sq ft, three-bedroom unit on the 14th floor fetched $4.34 million.
Based on caveats lodged, the freehold condo’s peak quantum price was recorded in 2010, when a 5,597 sq ft penthouse on the 42nd floor was sold in a sub-sale transaction for $8.75 million ($1,563 psf).
Completed in 2010, Sky@Eleven has 273 units in four 42-storey towers. These range from three- to four-bedroom units of 1,851 to 2,820 sq ft, alongside four- and five-bedroom penthouses of 3,757 to 5,598 sq ft.
The development is within proximity to Toa Payoh MRT Station on the North-South Line, and Caldecott MRT Station on the Circle and Thomson-East Coast lines. F&B and retail options at Balestier Hill Shopping Centre and HDB Hub are a short drive away. Within 1km are CHIJ Toa Payoh Primary and Secondary schools, Kheng Cheng School and Marymount Convent School.
No condo psf-price lows were recorded during the period in review.
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