by OrangeTee & Tie Pte Ltd.

Five-room Marine Parade flat sold for $1.01m; first million-dollar flat in estate


Singapore, 06 Jul 2022

This month's (July) $1,010,888 sale of a five-room Housing Board apartment at Block 28 Marine Crescent was the estate's first million-dollar HDB resale deal.

The Marine Crescent flat is the last and smallest unit on the list at 126 sq m. But it could be seen as value for money given the good sea views, said Ms Christine Sun, senior vice-president of research and analytics at OrangeTee and Tie. 

“There are very few housing units facing the sea at East Coast Park. A new freehold condo of around the same size that commands such sea views can cost above $2.5 million,” said Ms Sun. However, the shorter lease may sit well with only a specific group of buyers, she added.

They include those who are prepared to forgo mass-market condominiums in favor of HDB flats with desirable features and those who want to retire and occupy the apartments for the remaining term of their leases.

Meanwhile, the Urban Redevelopment Authority's long-term plan, published last month, calls for a combination of private and public housing to be built in the Bayshore neighborhood near East Coast Park.

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