UNDER THE HAMMER: Unit at Marina Bay Suites for sale at $5.8 mil

/ EdgeProp Singapore
June 17, 2019 8:39 AM SGT
Facilities at the development include a swimming pool, sauna, jacuzzi and gym (Credit: Knight Frank Singapore)
A 2,680 sq ft, four-bedroom unit at Marina Bay Suites along 3 Central Boulevard in District 1 will be put up for auction on June 19. This is a mortgagee’s sale with a guide price of $5.8 million ($2,164 psf), according to Knight Frank Singapore, which is handling the auction.
The 11th-floor unit overlooks the Marina Bay area and the sea, says Sharon Lee, senior director and head of auction and sales at Knight Frank. She believes the unit is more likely to attract owner-occupiers given that it has four bedrooms, as investors would typically go for one- or two-bedroom units.
The unit was first purchased at $7.18 million ($2,678 psf) in May 2010.
For price trends, recent transactions, other project info, check out the Marina Bay Suites project details page
Marina Bay Suites is near amenities and offices in Raffles Place (Credit: Knight Frank Singapore)
Marina Bay Suites, completed in 2013, comprises a 66-storey block of 221 residential units in total. Facilities include a swimming pool, sauna, jacuzzi and gym. The 99-year leasehold development is a two-minute walk to Downtown MRT Station on the Downtown Line. It is also within a 10-minute walk to food centres such as Amoy Street Food Centre and Market Street Interim Hawker Centre. In addition, it is near amenities and offices in Raffles Place as well as the Marina Bay Link Mall.
Monthly rentals for similar-sized units at the development have ranged between $9,700 and $12,500, based on caveats lodged with URA from January to April 2019.
The highest psf price fetched at Marina Bay Suites was for a 5,694 sq ft, penthouse unit on the 64th floor, at $3,389 psf, or $19.3 million. The sale was transacted in October 2012. To date, the average psf price attained at the development is $2,469, based on caveats lodged with URA.
The latest transaction at the development was for a 1,625 sq ft, three-bedroom unit on the 62nd floor. The unit changed hands at $3.38 million ($2,080 psf) on March 25. This unit was originally purchased for $4.4 million ($2,718 psf) in May 2012.
For the latest listings near Marina Bay Suites, click here