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

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

September 22, 2022

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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.

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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 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.

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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.

Read more at: https://www.edgeprop.sg/property-new...d-775-mil-loss