Marina Bay Residences penthouse sold for $12 mil, seller incurs $3.58 mil loss after 19 years
View from the main pool at Marina Bay Residences
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A five-bedroom penthouse at Marina Bay Residences was sold for $12 million in May 2026, resulting in a $3.58 million loss for the seller, or 23% capital loss after holding the unit for more than 19 years.
The unit, located at 18 Marina Boulevard on the 48th floor, spans 4,478 sq ft, which works out to $2,680 psf. The seller had purchased the unit subsale for $15.58 million, or $3,480 psf, in April 2007. The loss would be higher once other ownership costs are included, such as buyer’s stamp duty, legal fees, maintenance fees, property tax, financing costs and agent commission.
Last 3 transactions of the unit at #48-01
Based on the floor plan, the unit has a private lift lobby, five bedrooms, a family area, dry and wet kitchens, utility space and multiple balconies. The layout is designed more like a large private residence than a standard city apartment, with separate living, dining, family and service zones.
Floorplan for the transacted unit at level 48 at Marina Bay Residences
However, the size of the unit also means the absolute quantum is high. At $12 million, the pool of potential buyers is naturally narrower, even though the psf price is below what the seller had paid in 2007.
The deal at $2,680 psf is 16.6% higher than the project’s average price psf. Over the last 12 months, prices at Marina Bay Residences ranged from $2,053 psf to $2,725 psf, with an average of $2,298 psf. This places the latest deal close to the higher end of the project’s recent resale range.
At $2,680 psf, the deal is at the higher end of transacted prices at Marina Bay Residences
The deal is also 21.8% higher than the average psf price for resale leasehold condominiums above 1,200 sq ft in District 1, which stood at $2,200 psf last quarter. This suggests that while the seller suffered a significant capital loss, the buyer still paid a premium relative to the wider district benchmark.
Price trends at Marina Bay Residences vs. neighbouring condos of similar sizes
Great amenities and connectivity, but school is an issue
Marina Bay Residences is a 428-unit, 99-year leasehold condominium completed in 2010. It is located along Marina Boulevard in District 1 and is within walking distance of Downtown and Bayfront MRT stations. The project’s current strengths remain its central location, proximity to the CBD and access to the Marina Bay/Raffles Place office cluster.
The project has an average rental yield of 4% based on average rents over the last 12 months, while rentability (% of total units rented in one year) stands at 34.6%, which is relatively high. This suggests tenant demand remain relatively healthy, even if resale prices have not fully recovered to past peak levels.
Rental rates remain healthy at Marina Bay Residences
While connectivity is a major strength, with Bayfront, Downtown, Marina Bay, Raffles Place and Shenton Way MRT stations within 800m, the development’s main drawback is the lack of primary schools nearby.
To learn more about this transaction and whether it is a good deal, click here.
At $12 milion and $2,680 psf, is this a good deal?
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