Earlier this month, a 2,056-sq ft unit at the 99-year leasehold Marina Bay Suites was sold at a loss of $2.057 million; the second million-dollar loss for the condo this year. The seller sold the four-bedroom unit for $4.08 million ($1,985 psf), having purchased it in December 2012 for $6.137 million ($2,985 psf).
We used our analytics tool, Is it a Good Deal?, 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, One Raffles Place, OUE Bayfront, Ocean Financial Centre, CapitaSpring, Republic Plaza, Hong Leong Building, and One Raffles Quay (see Map 1).
Source: EdgeProp LandLens (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: EdgeProp Is it a Good Deal (as at 19 June 2025)
Our tool also indicated that, despite the seller incurring a million-dollar loss, the transacted price of $1,985 psf is slightly above the average prices for Marina Bay Suites and District 1 (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 19 June 2025)
Five unprofitable transactions this year
Since its launch in 2009, Marina Bay Suites has recorded 47 unprofitable transactions, with losses ranging from approximately $7,000 to $3.25 million. The condo has also chalked up 10 profitable transactions, with gains ranging from approximately $27,000 to $1.014 million.
So far this year, only five resale transactions have taken place at Marina Bay Suites. Unfortunately for the sellers, all five proved to be unprofitable, with losses ranging from approximately $220,000 to $2.057 million (see Table 1). All nine resale transactions recorded last year also resulted in losses, ranging from approximately $40,000 to $2.05 million.
Source: EdgeProp Buddy (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).
Source: EdgeProp Buddy (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.
Source: EdgeProp Market Trends (as at 19 June 2025)
The subject unit is a four-bedder measuring 2,056 sq ft. It comprises an en-suite master bedroom, three additional bedrooms, and two common bathrooms. The unit also features a private lift and a long balcony that spans its entire width (see Floor Plan 1).
Source: EdgeProp Research
The seller of this year’s second most unprofitable unit incurred a loss of $1.148 million. The seller had bought the 1,625-sq ft unit in May 2012 for $4.248 million ($2,614 psf) and sold it in January for $3.1 million ($1,907 psf) (see Table 1). The seller was unable to turn a profit despite paying $2,614 psf; lower than the then-average price of $2,786 psf. Part of the reason could be because the unit was sold at $1,907 psf, which was below the prevailing average price of $1,952 psf.
The unit measures 1,625 sq ft. It comprises an en-suite master bedroom, two additional bedrooms, and a common bathroom (see Floor Plan 2). Similar to the subject unit, this three-bedder also features a private lift and a balcony that spans the width of the unit.
Source: EdgeProp Research
Unfortunately for these two sellers, they purchased their units in 2012; just before the average price of Marina Bay Suites peaked at $2,838 psf a year later (see Chart 1). Since 2013, the average price for the condo has fallen by 31.2%.
The silver lining is that the average resale price for Marina Bay Suites has inched up by 1.6% since 2020. In contrast, the average resale price for 99-year leasehold condos in District 1 has declined by 10.3% over the same period (see Chart 2).
Source: EdgeProp Market Trends (as at 19 June 2025)
Five leasehold neighbours
There are six condos, representing approximately 3,500 units, within a 500m radius of Marina Bay Suites. With the exception of Robinson Suites, all neighbouring condos are 99-year leasehold developments. Of the five leasehold neighbours, Marina Bay Residences and The Sail @ Marina Bay are nearest to Marina Bay Suites (see Map 2).
Source: EdgeProp LandLens (as at 19 June 2025)
Among the trio, Marina Bay Suites is the smallest, with 221 units, and the youngest, having obtained its TOP in 2013. In comparison, The Sail @ Marina Bay is not only the largest, with 1,111 units, but also the oldest, having obtained its TOP in 2008. Marina Bay Residences features 428 units and obtained its TOP in 2010. All three condos are a short walk from Downtown MRT Station.
Mixed results for nearest neighbours
Similar to Marina Bay Suites, Marina Bay Residences has also recorded more unprofitable than profitable transactions so far this year. Marina Bay Residences recorded three unprofitable and one profitable transaction this year. However, none of the three unprofitable transactions resulted in a loss exceeding $400,000, while the sole profitable transaction generated a profit of $30,000.
This year’s record-high loss of $386,000 for Marina Bay Residences occurred in January, when the seller sold the 1,130-sq ft unit for $2.1 million ($1,858 psf). The seller had bought the two-bedroom unit for $2.486 million ($2,200 psf) in November 2007.
Interestingly, the same unit was previously involved in a transaction that resulted in a profit of $753,500. The first owner purchased the unit from the developer in December 2006 for $1.733 million ($1,533 psf) and sold it in November 2007 for $2.486 million ($2,200 psf) (see Table 3).
Source: EdgeProp Buddy (as at 19 June 2025)
Sellers of units in The Sail @ Marina Bay fared better, with seven unprofitable and eight profitable transactions thus far this year. Profits range from approximately $40,000 to $1.205 million, while losses range from approximately $58,000 to $715,000.
This year’s record-high profit for The Sail @ Marina Bay involved a two-bedroom unit sold in February for $2.1 million ($2,242 psf). The seller had bought the 936-sq ft unit for $894,960 ($956 psf) in December 2004, meaning they held the property for approximately 21 years.
The transaction resulting in this year’s record-high loss of $715,000 also took place in February. However, the seller held the unit for a shorter period of 15 years, having bought it in May 2010 for $3.015 million ($2,918 psf) and sold it for $2.3 million ($2,226 psf).
The long holding period probably benefited the owner of the profitable unit, as the average price of The Sail @ Marina Bay has surged by 117.8% since its launch in 2004. Unfortunately for the seller of the unprofitable unit, they bought the unit in 2010; just before the average price of the condo reached its peak in 2011. To add to their woes, the average price of The Sail @ Marina Bay has fallen by 7.3% since 2010 (see Chart 3).
Source: EdgeProp Market Trends (as at 19 June 2025)
Average price for Marina Bay Suites fell below neighbours
Since 2021, the average resale price for Marina Bay Suites ($1,952 psf) has trended below that of Marina Bay Residences ($2,023 psf) and The Sail @ Marina Bay ($2,089 psf) (see Chart 4), despite Marina Bay Suites being the youngest among the trio.
Source: EdgeProp Market Trends (as at 19 June 2025)
The average resale price for Marina Bay Suites ($1,952 psf) is also trending below that of condos aged 11 to 20 years in District 1 ($1,993 psf) and the Central Region ($2,047 psf) (see Chart 5).
However, the average resale price for Marina Bay Suites has inched up by 1.6% since 2020. In contrast, the average resale price for 99-year leasehold condos aged 11 to 20 years in District 1 fell by 12.7% over the same period. Similar condos in the Central Region outperformed their peers with price growth of 8.2%.
Source: EdgeProp Market Trends (as at 19 June 2025)
Conclusion
The recent million-dollar loss for Marina Bay Suites is mainly driven by the condo’s price decline after hitting its peak of $2,838 psf in 2013. The average price for Marina Bay Suites fell below $2,000 psf in 2019 and has since remained under that threshold. The average price for Marina Bay Suites is also below that of its nearest neighbours and similar condos in District 1 and the Central Region.
Unsurprisingly, this year’s five resale transactions for Marina Bay Suites have all resulted in losses for their sellers, with the subject unit generating the highest loss of $2.057 million. The silver lining is that the condo’s average price has improved in recent years, growing by 1.6% since 2020. In contrast, similar condos in District 1 fell by 12.7% during the same the period.
To learn more about this transaction, and whether it is a good deal, click here.
