Paterson Suites Condominium 402 views

Near MRT stations: Great World MRT, Havelock MRT, Orchard Boulevard MRT

District: D9 - Orchard/ River Valley

Paterson Suites condominium is a development located along 55 Paterson Road Singapore 238550 District 9. Completed in 2010. Standing 22 storeys  consisting of 102 units in total. MRT stations Orchard, Great World, Havelock along various public transportation other are within walking distance providing residents convenient access to commute around Singapore. Basic facilities include a swimming pool, barbeque area, gymnasium, among many more. Nearby supermarkets and shopping areas within 1 kilometre include FairPrice Orchard Grand Court, CS Fresh Great World, Cold Storage Takashimaya and just a short 4 minute drive away to Orchard Road which is one of Singapore’s most popular shopping area. View details at buycondo.sg

Paterson Suites Current Sale Prices

Based on active listings as of December 7, 2024, Paterson Suites offers three and four-bedroom configurations. Three-bedroom units of 1,679 square feet are listed between $5,100,000 to $5,200,000, while another three-bedroom layout of 1,722 square feet is available at $5,108,000. A larger four-bedroom unit of 2,164 square feet is listed at $6,000,000.

Paterson Suites Current Rental Prices

Current rental listings show strong demand with various configurations available. Three-bedroom units of 1,679 square feet command monthly rentals between $9,500 to $11,000. Larger four-bedroom units of 2,228 square feet are listed between $15,500 to $16,500 per month.

Paterson Suites URA Transactions

Recent URA verified transactions show:

• February 2024: 4-bedroom (2,164 sqft) sold for $5,951,000 ($2,751 psf)
• December 2023: 3-bedroom (1,679 sqft) sold for $4,400,000 ($2,620 psf)
• April 2023: 3-bedroom (1,679 sqft) unit transacted
• March 2023: 3-bedroom (1,679 sqft) sold for $4,650,000 ($2,769 psf)

Paterson Suites Location Advantage

Situated at 55 Paterson Road, Singapore 238550, Paterson Suites enjoys a prime District 9 location. The development offers exceptional connectivity to Singapore’s premier shopping and entertainment district. Its position provides residents with immediate access to the Orchard Road shopping belt and the Central Business District.

Paterson Suites Market Analysis

Current Market Position:

• Recent transactions averaging $2,751 psf (February 2024), above District 9 average range of $2,630 to $2,780 psf
• Consistent transactions above $2,600 psf throughout 2023-2024
• Market resilience despite broader market 0.7% decline in Q3 2024

Price Trends & Capital Appreciation:

• February 2024: $2,751 psf (4-bedroom)
• December 2023: $2,620 psf (3-bedroom)
• March 2023: $2,769 psf (3-bedroom)
• Current asking prices ($5,100,000 to $6,000,000) indicate seller confidence

Rental Market Performance:

• 3-bedroom (1,679 sqft): Annual rental income $114,000 to $132,000
• 4-bedroom (2,228 sqft): Annual rental income $186,000 to $198,000
• Competitive rental yield: 2.8% to 3.0%

Facilities

Paterson Suites offers comprehensive facilities including a 50-meter lap pool, fully-equipped gymnasium, and landscaped gardens. The development features a grand lobby with concierge services, tennis court, children’s playground, and function rooms for private events. Security is ensured through 24-hour surveillance and card access systems. The basement parking provides ample lots for residents and their guests.

Surrounding Amenities

The location offers proximity to premium shopping destinations including ION Orchard, Ngee Ann City, Paragon Shopping Centre, and 313 Somerset. Educational institutions nearby include Chatsworth International School, River Valley Primary School, and Anglo-Chinese School (Junior). Medical facilities within reach include Mount Elizabeth Hospital and Paragon Medical Centre.

Paterson Suites Nearby Condos

The development is surrounded by prestigious properties including Paterson Linc, The Paterson Edge, One Sophia Residences, and The Marq on Paterson Hill. These developments collectively establish the area as one of Singapore’s most exclusive residential enclaves.

Investment Outlook

Key Advantages:

• Prime District 9 freehold status
• Walking distance to Orchard MRT
• Strong rental demand from expatriate tenants
• Limited new supply in District 9
• Upcoming Orchard Road rejuvenation plans

Risk Considerations:

• Higher interest rates affecting buying sentiment
• Recent cooling measures (April 2023)
• Overall private housing prices declined 0.7% in Q3 2024

Disclaimer: All data and analyses are based on URA verified transactions and current market listings as of December 7, 2024. This information is for reference only and should not be taken as financial advice. Actual transaction prices may vary. Walking distances and times are approximate based on Google Maps data. Investors should conduct their own due diligence and seek professional advice before making any investment decisions.