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Four-bedder at The Marq incurs record $7.75 mil loss


The four-bedroom unit at The Marq on Paterson Hill was sold for $13.38 million ($4,331 psf) on Sept 7.

SINGAPORE (EDGEPROP) - A new record loss occurred at The Marq on Paterson Hill when a 3,089 sq ft, four-bedroom unit on the 20th floor was sold for $13.38 million ($4,331 psf) on Sept 7. This unit had previously fetched $21.13 million ($6,840 psf) in November 2011. Thus, the seller suffered a loss of $7.75 million (36%), which translates to an annualised loss of 3.9% over almost 11 years.

This marks a new record loss at the luxury condo, as well as the highest loss among condos for the week of Sept 6 to 13. The previous record had been held by the sale of a 3,089 sq ft four-bedder on the eighth floor for $10.28 million ($3,328 psf), in December 2017. This unit had been bought for $15.2 million ($4,920 psf) in September 2012. As a result, the seller suffered a loss of $4.92 million ($32%), which translates to an annualised loss of 7.2% over five years.


The four-bedroom unit at The Marq on Paterson Hill was sold for $13.38 million ($4,331 psf) on Sept 7. (Picture: Samuel Isaac Chua/The Edge Singapore)

The Marq is one of several luxury condos in the Paterson Hill-Grange Road vicinity. However, according to transaction data compiled by EdgeProp Singapore, The Marq commands the highest average selling psf-price among condos in the vicinity, with an average selling price of about $4,600 psf.

No other developments in the area have seen their average selling price breach the $4,000 psf threshold. The closest is Tomlinson Heights at $3,808 psf. Meanwhile Grange 1866, The Paterson and Paterson Suites are going for about $2,988, $2,446 and 2,615 psf, respectively.


The Marq commands the highest average selling psf-price among all the condos in the Paterson Hill-Grange Road vicinity.

On the other hand, two resale transactions at the condo Camelot By-The-Water made it to the top of the most profitable resale list for the week in review.

The most profitable deal was the sale of a 2,745 sq ft, four-bedroom unit on the sixth floor for $5 million ($1,822 psf) on Sept 9. This unit had previously fetched $1.98 million ($721 psf) in June 2003. Thus, the seller earned a profit of $3.02 million (153%), which is an annualised profit of 4.9% over 19 years.

Also on Sept 9, a 3,240 sq ft, three-bedroom unit on the ground floor was sold for $5.2 million ($1,605 psf). This unit had been bought for $2.96 million ($914 psf) in March 2007. As a result, the seller walked away with a $2.24 million (76%) profit, which translates to an annualised profit of 3.7% over 15½ years.

Camelot By-The-Water is a 99-year leasehold condo in Tanjong Rhu in District 15. The development is located opposite the Singapore Sports Hub, and has an unblocked view of the Kallang Basin.


The two most profitable resales of the week were for units at Camelot By-The-Water. (Picture: Albert Chua/The Edge Singapore)

Camelot By-The-Water was completed in 2000. Units there have put up a stellar performance on the secondary market in recent years. According to data compiled by EdgeProp Singapore, resale prices at the condo recorded an uninterrupted increase over the past 15 years, from about $915 psf in August 2005 to $1,694 psf in August 2022.

The most profitable resale transaction so far at Camelot By-The-Water is for a 5,834 sq ft, duplex penthouse. This unit was sold for $9 million ($1,543 psf) in May 20010, after it had been bought for $3.73 million ($640 psf) in June 2000. Thus, the seller earned a record profit of $5.27 million (141%), which translates to an annualised profit of 9% over 10 years.

The third most profitable resale during the week occurred at The Esta, a freehold condo in the Amber Road residential neighbourhood in District 15. On Sept 6, a 1,399 sq ft, three-bedroom unit was sold for $2.86 million ($2,044 psf). The unit had been bought for about $946,000 ($676 psf) in August 2006. Thus, the seller earned a profit of $1.91 million (202%), or an annualised profit of 7.1% over 16 years.

The popularity of the area is due to its proximity to schools such as Tanjong Katong Primary School, Tanjong Katong Secondary School and Tanjong Katong Girls’ School. The Canadian International School (Tanjong Katong Campus) is also nearby. Amenities in the area include the Chinese Swimming Club and two MRT stations on the future Thomson-East Coast Line — Tanjong Katong and Marine Parade.

Check out the latest listings near The Marq on Paterson Hill, Tomlinson Heights, Camelot By-The-Water, The Esta, Marine Parade MRT station, Tanjong Katong Primary School, Tanjong Katong Secondary School, Tanjong Katong Girls’ School

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