The Marq on Paterson Hill has sold a four-bedroom unit for $13.38 million

A new record-breaking loss took place in The Marq on Paterson Hill in which the 3,089 square feet, four-bedroom apartment located on 20th Floor went on sale at $13.38 million ($4,331 per square foot) on the 7th of September. The unit had previously sold for $21.13 million ($6,840 per square foot) in November 2011. This means that the seller suffered the loss in the amount of $7.75 millions (36%), which amounts to an annualized decline that was 3.9% over almost 11 years.

Terra Hill launch price is equivalent to a land rate of $1,355 psf ppr and $1,318 psf ppr, including a 7% bonus balcony area in the GFA.

This is a record-breaking loss for the luxury condominium in addition to the largest loss of condos in the week from September 6 to 13. The previous record was set by the sale of three-bedroom apartment of 3,089 square feet on the eighth floor , for $10.28 million ($3,328 per square foot) in December of 2017. The property was bought at $15.2 million ($4,920 per square foot) on September 12, 2012. In the end, the seller was able to recover $4.92 millions ($32%), which is equivalent into an annual loss in the range of 7.2% over five years.

The Marq is among the luxurious condos located situated in Paterson Hill and Grange region. But, according to the transaction records collected from EdgeProp Singapore, The Marq has the highest average selling price psf-psf among condos within the area, having an average of $4,600 per square foot.

None of the developments in the area have had their median selling prices surpass the threshold of $4,000 per square foot. The nearest is Tomlinson Heights at $3,808 psf. In addition, Grange 1866 and Paterson and the Paterson as well as Paterson Suites are priced at approximately $2,988, $2,446 and 2,615 psfrespectively.

However, two resales at the condominium Camelot By The-Water placed at high on the list of most profit-making resales report for the week in our review.

The highest-profitable deal was the 2,745 sq. ft. four-bedroom apartment located at the top of the six floors, for $5 million ($1,822 per sq ft) on September 9. The unit had previously earned $1.98 million ($721 per square foot) during June of 2003. The seller made the seller $3.02 millions (153%), which represents an annualized gain in the range of 4.9% over 19 years.

Also on September 9th on the 9th of September, a 3,240 square feet three-bedroom apartment in the basement was offered to a buyer for $5.2 million ($1,605 per square foot). The unit was purchased at $2.96 million ($914 per square foot) on March 7, 2007. In the end, the seller made the $2.24 million (76%) profit, that’s an annual gain in the range of 3.7% over 15 1/2 years.

Camelot By-The-Water is a 99-year leasehold condo located in Tanjong Rhu in District 15. The development is located next to that of the Singapore Sports Hub, and offers an unobstructed view of The Kallang Basin.

Camelot By The Water was completed in the year 2000. The condo has had excellent numbers when it comes to the market for secondhand units over the last few years. Based on data from EdgeProp Singapore, resale prices at the condo have experienced an increase that has been continuous over the last 15 years, rising from $915 per square foot in August 2005 to $1,694 by August 20, 2022.

The most lucrative resale deal thus far in Camelot By-The-Water is for a 5,834 square foot duplex penthouse. The unit was sold for $9 million ($1,543 per sq ft) at the end of May in 2001 after having been purchased at $3.73 million ($640 per square foot) during June of 2000. The seller made an all-time high profits in the amount of $5.27 millions (141%), which is equivalent to an annualized gain of nine% over the course of 10 years.

The third-highest profit resale of the week took place on the Esta Freehold condo located in The Amber Road residential neighbourhood in District 15. On the 6th of September the 1,399 square feet three-bedroom apartment was sold to a buyer for $2.86 million ($2,044 per square foot). The property was purchased for $946,000 ($676 per square foot) at the end of August. The seller made an income in the amount of $1.91 million (202%), or an annualized gain that was 7.1% over 16 years.

The area’s popularity has to do with its close proximity to schools, such as Tanjong Katong Primary School, Tanjong Katong Secondary School and Tanjong Katong Girls’ School. There is the Canadian International School (Tanjong Katong Campus) is also within the vicinity. There are numerous amenities in the area, including The Chinese Swimming Club and two MRT stations along the upcoming Thomson East Coast Line -the Tanjong Katong and Marine Parade.