Marina One Resales at S$1,680 Psf, 35% Below Launch: Is Marina Bay a Bargain or a Trap?
A 786 sq ft unit at Marina One Residences changed hands in May at S$1,680 psf, about 35% below the project’s 2014 launch average of around S$2,600 psf. A government land sale at Marina Gardens Lane also closed in late October with a single, lower-than-expected bid. Analysts agree Marina Bay should become more attractive as it develops, but warn that buyers need staying power.
Psf, Marina One Resale in May
Below 2014 Launch Average
Psf Ppr, Marina Gardens Lane Bid
One Marina Gardens Sold
What Has Happened to Prices
Over the past year, resale prices at Marina One Residences have ranged from about S$1,680 to S$2,227 psf. The project, developed by a joint venture of Temasek and Khazanah Nasional, sits above a mall, offices and an MRT station. It sold quickly at launch in 2014, when some units went for above S$3,000 psf.
Dr Lee Nai Jia, co-founder of Property Doctors, said roughly seven in ten resales from Marina One’s 2014 and 2015 buyers have been at a loss. For owners who bought on the resale market in 2020 and 2021, the share of loss-making sales could be as high as 89.7%.
Next door, One Marina Gardens was about 72% sold as at 26 October, but its average price has edged up only 0.5% since launch last year, from S$2,950 to S$2,965 psf. W Residences Marina View has sold about 15 units, at a median of S$2,660 psf.
| Project | Recent Deals | Psf Range |
|---|---|---|
| Marina One Residences | S$1.19m to S$3.2m, Sep to Oct 2026 | S$1,735 to S$2,121 |
| One Marina Gardens | S$2.05m to S$3.62m, Oct 2026 | S$3,024 to S$3,125 |
| W Residences Marina View | S$1.92m to S$3.36m, Mar to Aug 2026 | S$2,613 to S$2,811 |
Selected transactions. Source: URA, as compiled by Lianhe Zaobao.
Why Demand Is Uneven
The Marina Gardens Lane site drew a single bid from EL Development of about S$1,243 psf per plot ratio, below the S$1,400 to S$1,500 range the market expected and around 11.3% lower than the price paid for the neighbouring One Marina Gardens site more than three years ago. Dr Lee said the developer may have factored in the sales performance of recent city centre launches and the risk of a longer selling period.
Alan Cheong of Savills pointed to the 60% Additional Buyer’s Stamp Duty, which has sharply reduced foreign demand for prime homes. Many local families prefer to live within 1 km of a popular primary school and near neighbourhood amenities, and are less used to city centre living. Mohan Sandrasegeran of SRI said each project needs to be judged on its own positioning, pricing and target buyers.
Frequently Asked Questions
How low have Marina One Residences prices gone?
A 786 sq ft unit sold at S$1,680 psf in May 2026, about 35% below the 2014 launch average of around S$2,600 psf.
What was paid for the Marina Gardens Lane site?
EL Development was the only bidder, at about S$1,243 psf per plot ratio.
Why are foreigners buying less in Marina Bay?
Analysts point to the 60% Additional Buyer’s Stamp Duty for foreigners, which has cut demand for prime homes.
Are Marina Bay prices expected to rise?
The analysts interviewed expect the area to become more attractive over time, but say the change will take years and buyers must be able to hold.
Weighing a purchase in the city centre?
I can run the numbers on holding costs and compare Marina Bay with city fringe alternatives.