Apartment sale smashes record at $5,100 psf
SINGAPORE’S most expensive condominium project - The Marq on Paterson Hill - has been fully sold in its first phase, with one unit fetching a record $5,100 per sq ft (psf).
This smashes the week-old record of $4,653.50 psf set by an apartment from St Regis Residences.
The new record set by The Marq also breaches. for the first time, the $5,000 mark for the highest psf unit price.
The Marq’s initial phase, which consists 21 units - or a third of all available apartments - achieved an average selling price of $4,137 psf, said developer SC Global in a statement.
The most expensive condominium sale on record is the uber penthouse at Marina Bay Residences, which was said to have fetched about $28.6 million, or $2,600 psf.
On a psf basis, only three projects have breached the $4,000 level: Orchard Residences in Orchard Turn, Parkview Eclat in Grange Road and St Regis Residences in Cuscaden Road.
Previews to The Marq’s first phase was offered to invited buyers only, said SC Global.
Of the 21 units sold, eight apartments were within The Signature Tower, housing a 15-metre private lap pool in every unit.
The rest of the 21 units were from Premier Tower.
The record-smashing $5,100 psf sale came from an apartment in The Signature Tower.
Prices for the entire development ranged from approximately $11 million to $31 million.
The three penthouses on the top two floors of the 24-storey-high building and apartments on the higher floors were not released in the first phase, SC Global said.
The Signature Tower will be home to 21 five-bedroom apartments averaging 6,195 sq ft.
Beside it will stand the Premier Tower with 42 four-bedroom apartments averaging 3,000 sq ft.
SC Global Developments said it has no confirmed date for the release of the second phase of units.
Source: The Straits Times, 28 June 2007
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