A Standout Transaction in Marina South’s First Residential Project
While Singapore’s cooling measures have significantly reduced foreign purchases, a recent deal at One Marina Gardens shows that certain buyers will still enter the market—if the right product appears.
Two units were transacted in October for $5.12M and $5.13M, both around $3,100 psf.
But what drew attention: one buyer was a Cambodian national who paid 60% ABSD, adding over $3.07M to the bill. His total outlay exceeds $8.19M.
Commentary:
This is one of those cases where the property—not the tax—makes the decision.
Buyers at this level prioritise:
- Safety of assets
- Currency strength of the SGD
- Rarity of the unit layout and size
- Confidence in long-term city planning (Marina South being the next big precinct)
Mark Yip, CEO of Huttons Asia, notes that Singapore remains a safe haven amid global uncertainty—a recurring theme among high-net-worth buyers globally.
What Makes These Units Irresistible?
The project’s four-bedroom premium units (1,647 sq ft) are the star.
Out of the 937 total units, only 40 are of this size and layout—and only 13 remain unsold.
Another similar unit on the 17th floor sold in November at $5.11M to a Singaporean buyer.
These homes stand out because they offer:
- Larger family-sized layouts
- Unblocked views of Gardens by the Bay
- A high-floor position within the 44-storey tower
- A position in Marina South—District 1 address, RCR classification
As of today, One Marina Gardens is 68% sold, with an average price of $2,960 psf.
This project also marks the first-ever residential development in Marina South, which is planned as a sustainable, mixed-use, community-focused district—a major reason buyers believe the area has long-term potential.
Infographic (Bullet-Point Format with Emojis)
🔹 Key Highlights of the Transaction
- 🌏 Foreign buyer pays 60% ABSD on a Marina South unit
- 💰 Total outlay exceeds $8M after taxes
- 🏙️ Unit sits in Marina South’s first residential development
- 🏢 Larger 4-bedroom premium units: only 40 units in the project
- 🔭 Unblocked views of Gardens by the Bay
- 📈 Project now 68% sold after recent transactions
🔹 Why These Units Attract High-Net-Worth Buyers
- 🧭 Singapore’s reputation as a safe haven
- 💱 Strong Singapore Dollar
- 🏗️ Low supply of large-format city homes
- 🌳 Marina South planned as a future lifestyle district
- 🔒 Limited remaining stock of premium layouts
Summary
Key Takeaways
- ✅ A rare foreign buyer paid a substantial ABSD due to the unit’s uniqueness
- ✅ Only a handful of large 1,647 sq ft units remain available
- ✅ One Marina Gardens continues to gain traction, now 68% sold
- ✅ The deal reinforces confidence in Marina South’s long-term transformation
If you’re exploring similar city-fringe or Marina South opportunities—especially limited-supply large-format layouts—reach out anytime. I’ll help you navigate the options and find the right fit.
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