A one-bedroom unit at Marina One Residences was sold for $1.3 million, or $1,702 psf, setting a new psf low for the 1,042-unit development.

The unit is a Type 1B layout, with floor areas for this configuration ranging from 700 sq ft to 775 sq ft, depending on balcony size. Based on the floor plan, the 764 sq ft apartment has a regular one-bedroom configuration, with the living and dining area opening out to a balcony. The kitchen is positioned along one side of the unit and comes with a gourmet servery, while the master bedroom includes a walk-in wardrobe.

The $1,702 psf transacted price stands out as it is 12.4% below the project’s average price of $1,943 psf over the past 12 months, based on EdgeProp’s “Is it a Good Deal?” tool.

Read also: Is it a good deal? This Ang Mo Kio 4-room flat sold for a record $1.15 mil

The seller also incurred a loss on the transaction. The unit was previously purchased on April 12, 2021, at $1,943 psf. It was sold on May 28, 2026, at $1,701 psf, resulting in a loss of $185,000 over a holding period of 1,872 days. This translates to an annualised loss of 2.6%, excluding transaction costs and financing costs.

The transaction also came in below the average price of resale leasehold condominiums in District 1. Resale leasehold condos between 750 sq ft and 1,200 sq ft in District 1 averaged $1,868 psf in the latest quarter. At $1,702 psf, the Marina One Residences unit was 8.9% below the district average.

Compared with nearby developments, Marina One Residences’ average price of $1,943 psf is lower than The Sail @ Marina Bay, which averaged $2,127 psf, and W Residences Marina View, which averaged $2,981 psf. It is slightly higher than V on Shenton and One Shenton, which averaged $1,932 psf and $1,879 psf respectively.

The low psf was recorded despite Marina One Residences’ location in the Marina Bay area. Completed in 2017, the development has a 99-year lease from July 2011, leaving about 84 years on its lease. The project is within 800m of Downtown, Marina Bay and Shenton Way MRT stations, giving residents access to multiple MRT lines within the CBD.

For investors, the rental numbers are slightly more encouraging. The unit shows an estimated rental yield of 4.1%, based on average rents over the past 12 months. Rentability at Marina One Residences is also shown at 42%, which is relatively high.  Rentability looks at the total number of units rented over the total number of units available.

The overall price trend for Marina One Residences has also softened in recent years.  The average prices at the development has declined by 21% since 2021.  There are also limitations from an owner-occupier's perspective. There are no primary schools within 1km and no other schools within 2km. This is unlikely to be a major drawback for a one-bedroom CBD unit, which may appeal more to investors, singles or tenants working in the city centre.

Read also: Is it a Good Deal?: Leedon Residence unit sold for record $5.2 mil profit

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