JUST SOLD: Three-bedder at Marina Bay Residences sold for $1.9 mil profit
By Tan Chee Yuen
/ The Edge Property |
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A 1,636 sq ft unit at Marina Bay Residences condominium was sold in August 2015 for a profit of $1.9 million, according to recent caveats lodged with the URA. This translates into a profit margin of 76% or annualized return of 8.9%. The seller had purchased the property back in January 2009 for $2.5 million ($1,528 psf) and resold it for $4.4 million ($2,683 psf) this year.
Marina Bay Residences is a luxurious condominium which was completed in 2010. It was jointly developed by Hongkong Land Limited, Keppel Land International Limited and Cheung Kong Holdings Limited. This condominium comprises 428 homes, consisting 1-, 2-, 3- and 4-bedroom units. It sits on a site with a balance of 89 years in its leasehold tenure. Standing at 55-storey tall, it offers panoramic view of the city including the Marina Bay Sands.
The nearest MRT station is the Downtown station of the Downtown Line. Marina Bay Residences is also within walking distance from the Bayfront station of the Circle Line and Raffles Place, which is an interchange station of the North-South and East-West Lines
Nearby amenities include Marina Bay Link Mall as well as shop and F&B outlets at The Sail @ Marina Bay and Marina Bay Financial Centre. Marina Bay Link Mall is a subterranean mall housing a wide range of retail and F&B units with multiple entry points on street level and below ground. They allow convenient access from various developments such as One Raffles Quay, Marina Bay Residences as well as Marina Bay Suites.
Marina Bay Link Mall
Source: Marina Bay Link Mall homepage
A new retail amenity, which is part of the high-profile Marina One development, will come on-stream next year or in 2017. The retail space in Marina One is expected to have a net lettable area of approximately 139,000 sq ft.
Based on the past six months’ transactions, prices in Marina Bay Residences range from $2,186 to $2,683 psf and rents range from $ 4.26 to $ 8.00 psf per month. This translates into an implied rental yield of 3.11%.
Editor: To real estate agents – if you have concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
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