Is it a Good Deal?: A four-bedder in Downtown Core sold at a loss of $2.057 million

Marina Bay Suites is located in the heart of Marina Bay. (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Earlier this month, a 2,056-sq ft unit at the 99-year leasehold , to determine whether the buyer secured a good deal.

In the heart of Marina Bay

Marina Bay Suites is located along Central Boulevard, within District 1 and the Downtown Core Planning Area. The 99-year leasehold condo obtained its Temporary Occupation Permit (TOP) in 2013. It comprises 221 units, featuring a mix of three-bedroom and four-bedroom units that range from 1,572 sq ft to 2,691 sq ft. The development also includes two five-bedroom units that exceed 5,000 sq ft.

Its location in the heart of the financial district makes Marina Bay Suites an ideal home for those working in the CBD. The condo is a short walk from numerous office towers, including Marina Bay Financial Centre, IOI Central Boulevard Towers, Asia Square,  (as at 19 June 2025)

Other amenities within a 500m radius include Marina Bay Link Mall, Lau Pa Sat, Market Street Hawker Centre, The Fullerton Bay Hotel and The Westin Singapore. The condo is also within close proximity of Downtown, Raffles Place, Shenton Way, Marina Bay, and Telok Ayer MRT Stations. Together, the five MRT stations gives residents convenient access to the East–West, North–South, Downtown, Circle, and Thomson–East Coast Lines (see Screenshot 1).

The main drawback of the condo is the lack of schools within a 1km radius. Furthermore, Cantonment Primary School is the only primary school within a 2km radius.

Source:  (as at 19 June 2025)

Meanwhile, the most recent profitable transaction was in March 2023, when a three-bedroom unit was sold for $3.18 million ($1,970 psf), resulting in a profit of $129,000. The seller had purchased the 1,615-sq ft unit in December 2009 for $3.051 million ($1,890 psf) (see Table 2).

Read also:  (as at 19 June 2025)

Subject flat is this year’s most unprofitable transaction

The resultant loss of $2.057 million for the subject unit is the largest recorded at Marina Bay Suites so far this year. This could be because the seller paid $2,985 psf for the unit in 2012; significantly higher than the then-average price of $2,786 psf. Fortunately for the seller, they managed to sell the unit at $1,985 psf, which was marginally above the prevailing average price of $1,952 psf (see Chart 1).

If the seller had sold the unit at the average price of $1,952 psf, they would have incurred a larger loss of approximately $2.124 million. On the other hand, if the seller had purchased the unit at the then-average price of $2,786 psf, the loss would have been smaller at approximately $1.647 million.

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