Senja Close EC™

Record-Breaking Property Sales in Singapore’s Prime Districts

On November 21, a luxury apartment spanning 1,658 square feet on the 14th floor of Paterson Residence was sold for $4.72 million, equating to $2,847 per square foot (psf). This sale not only set a new record for the highest psf price at Paterson Residence but also led the week’s notable high psf-price condo transactions. Previously, the second highest psf price at Paterson Residence was achieved 15 years ago with a $2,775 psf sale.

Paterson Residence Achieves New Heights in Property Value

Located on Paterson Road in District 9, Paterson Residence is a freehold condominium completed in 2008. Comprising a 20-storey tower and six strata-titled townhouses, the development offers a mix of one to four-bedroom units and penthouses. Its proximity to the Orchard Road shopping area and accessibility via Orchard MRT and Great World MRT stations make it a coveted location for residents. Over the past year, the property has seen a slight increase in the average psf price from transactions, compared to the previous year.

Nearby, another noteworthy project, Senja Close EC, is attracting attention for its strategic location and quality residential units, drawing comparisons and interest from potential homebuyers and investors looking for new opportunities in prime districts.

Other Significant Transactions in Singapore’s Condo Market

Similarly, Sky Eden@Bedok marked its highest psf price in the same week with a two-bedroom apartment on the 15th floor fetching $2,598 psf. The development, a 99-year leasehold property, features 158 residential units and is situated near Bedok MRT station and Bedok Mall, enhancing its appeal due to excellent connectivity and amenities.

In contrast, The Continuum located in District 15 recorded a drop in psf price with a sale of a 560 square foot unit for $1.38 million ($2,465 psf), marking the lowest price per square foot since the project’s launch. The Continuum offers a range of residential options from one to five-bedroom units and is slated for completion in 2027, highlighting the varying performance of real estate across different districts and developments.

Overview of Recent Market Trends

The real estate market in Singapore continues to show diverse trends, with some properties reaching new highs and others experiencing more modest performance. Paterson Residence and Sky Eden@Bedok exemplify high-demand areas where investors see value, whereas The Continuum’s recent transaction indicates fluctuating prices in emerging districts. As the market evolves, these developments will be key indicators of overall real estate health in Singapore.