The Marq

On September 7, a 3,089 square foot, four-bedroom condo of The Marq on Paterson Hill was sold for a price that equated to $4,331 per square foot, which caused the development to suffer a new record loss. In November 2011, this property sold for $21.13 million, which works out to $6,840 per square foot. As a result, the seller incurred losses of $7.75 million (or 36%), which is equivalent to a loss of 3.9% on an annualized basis spread out over roughly 11 years.

This is not just a new low for the luxury condo, but also the highest low for the whole category of condominiums for the week of September 6 to 13. The previous record had been established by the selling of a 3,089 square foot, four-bedroom apartment located on the eighth floor for a price of $10.28 million ($3,328 per square foot) in December of 2017. In September of 2012, this property was acquired for a total price of $15.2 million ($4,920 psf). As a consequence of this, the seller incurred a loss of $4.92 million (or 32%), which is equivalent to a loss of 7.2% on an annualized basis over the course of five years.

The Paterson Hill-Grange Road area is home to a number of high-end condominium communities, including The Marq. Nevertheless, The Marq commands the highest average selling psf-price among condos in the neighborhood, with an approximate selling price of $4,600 psf on average for each square foot of living space. This is the case because The Marq has the largest number of units available.

There have not been any other projects in the region that have had their average selling price surpass the barrier of $4,000 psf. Tomlinson Heights is the one that’s closest to you, and it costs $3,808 psf. In the meanwhile, the price per square foot at Grange 1866, The Paterson, and Paterson Suites is around $2,988, $2,446 and 2,615, respectively.

On the other hand, two resale deals that took place in the condominium complex Camelot By-The-Water made it to the top of the list of the most lucrative resales for the week under consideration.

The purchase and sale of a four-bedroom, 2,745 square foot apartment on the sixth floor for $5 million ($1,822 per square foot) on September 9 was the most lucrative transaction. In June of 2003, this apartment sold for $1.98 million, which works out to $721 per square foot. Therefore, the seller made a profit of $3.02 million (153%), which works out to a profit of 4.9% on an annualized basis over the course of 19 years.

Also on September 9, a ground-floor property that was 3,240 square feet in size and had three bedrooms sold for $5.2 million ($1,605 per square foot). In March of 2007, this dwelling was acquired for a price of $2.96 million, which equated to a price per square foot of $914. As a consequence of this, the seller was able to walk away with a profit of $2.24 million (76%); this is equivalent to an annualized profit of 3.7% over a period of 1512 years.

Camelot By-The-Water was built in the year 2000. Over the last several years, the secondary market performance of the units there has been nothing short of spectacular. Resale prices at the condo have recorded an uninterrupted increase over the past 15 years, going from approximately $915 psf in August 2005 to $1,694 psf in August 2022. This is a significant increase from the $915 psf that was recorded in August 2005.

A duplex penthouse that is 5,834 square feet in size has been the subject of the most lucrative sales transaction that has taken place so far at Camelot By-The-Water. After having been purchased in June of 2000 for $3.73 million (about 640 psf), this particular apartment was subsequently sold in May of 2010 for $9 million (1,543 psf). Therefore, the seller made a record profit of $5.27 million (141%), which corresponds to a profit that was 9% on an annualized basis over the course of 10 years.

The Esta, a freehold condo located in the Amber Road residential neighborhood in District 15, was the third most lucrative transaction over the last week. This property is located in District 15. On September 6, a 1,399 square foot apartment with three bedrooms sold for $2.86 million ($2,044 per square foot). In August of 2006, the flat had been purchased for close to $946,000, which is equivalent to $676 per square foot. Therefore, the seller made a profit of $1.91 million, which is equivalent to a return of 202%, or an annualized return of 7.1%, over the course of 16 years.

Schools such as Tanjong Katong Secondary School, Tanjong Katong Girls’ School and Tanjong Katong Primary School are located in close proximity to the region, which contributes to the neighborhood’s attractiveness. Additionally located in the area is the Canadian International School’s Tanjong Katong Campus. Tanjong Katong and Marine Parade are two MRT stations that will be built as part of the proposed Thomson-East Coast Line. Other amenities in the neighborhood include the Chinese Swimming Club.