While Singapore is an island, there are surprisingly few beachfront residential precincts around. Which is why Marine Parade, a quaint coastal town in the East, is such a gem.
The first housing estate to be built on reclaimed land, Marine Parade is today a self-sufficient neighbourhood that is best known for its various recreational and leisure facilities, and its proximity to the East Coast Park.
A coveted address that offers sea views, white sandy beaches, and a wide range of leisure opportunities on and off the water, it is no wonder that Marine Parade is now amongst the most sought-after locations to live in.
Originally named after a promenade near the sea along the East Coast Road, this popular residential enclave offers a relaxing, laidback respite from the hustle and bustle of the city.
With its main attractions being the beach and the sea, the neighbourhood offers an eclectic mix of outdoor activities that include fishing, kayaking, cycling and rollerblading.
Yet, it is conveniently located just a 15 to 20-minute drive to the city centre. By 2024, the Marine Parade estate will also be served by 2 MRT stations along the new Thomson-East Coast Line (TEL), making travelling to and fro the estate more convenient than ever.
There is an abundance of amenities in the Marine Parade area, including malls like 112 Katong Shopping Centre and Parkway Parade. Plenty of eateries and restaurants offering multicultural cuisine can also be found in the neighbourhood.
For families with young children, schools for every stage ranging from preschools to tertiary institutions are also easily accessible in the area. They include Ngee Ann Primary School, Tanjong Katong Primary School and Tao Nan School.
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Land reclamation works began in 1966, and the first housing blocks were built on Marine Parade in 1972. By March 1975, over 7,000 units of flats had been completed.
Today, the vibrant housing estate is home to about 21,600 HDB residents, living in an estimated 7,862 flats.
Meanwhile, popular new condos in the area include the freehold projects, Amber 45 and One Meyer. Based on URA caveats, the projects transacted at an average of $2,363 psf and $2,674 psf respectively in the first three months of 2019.
Resale condos in Marine Parade also continue to be popular with homebuyers and investors, with prices holding steady despite the higher Additional Buyer’s Stamp Duty (ABSD) rates from last year’s property cooling measures.
Based on URA data, we observed a continuous uptrend of average transacted prices for non-landed private residential properties within the planning area despite the sharp decline in transaction volume in 2018 from the previous year.
Given the area's proximity to the East Coast Park, reputable schools and some of Singapore's best known eateries, we expect homes in the neighbourhood to appeal to homebuyers and investors, particularly for families with young children or those seeking an active lifestyle with various outdoor recreational opportunities.
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