One Marina Gardens sets new record PSF price as luxury market heats up

One Marina Gardens Hits New High, with psf Price Breaching S$3,290 for the First Time

Located in Marina South, One Marina Gardens recently recorded its highest transacted price per square foot (psf) since launch.

According to the latest transaction records, a 1,647 sq ft four-bedroom unit on the 28th floor changed hands for approximately S$5.42 million on 17 June. This translates to S$3,290 per square foot (psf), setting a fresh record high for the development.

This also marks the first time a unit at One Marina Gardens has broken through the S$3,200 psf threshold, further underscoring the market's growing recognition of residential offerings in Marina South.

Resetting the Project's Record

This latest transaction not only marks a new high, but also surpasses the previous record benchmark set within the development.

The previous high was registered on 17 January this year, when a 657 sq ft two-bedroom unit was transacted for around S$2.07 million, or approximately S$3,160 psf.

Just months later, the project's record psf price has advanced by roughly S$130 psf, highlighting the sustained buyer interest in high-floor, large-format units.

The First Residential Development in Marina South

Comprising two residential towers, One Marina Gardens offers a total of 937 units on a 99-year leasehold tenure. It is also the pioneer residential development launched within the Marina South planning area.

Unit configurations range from one- to four-bedroom layouts, with one- and two-bedroom apartments making up more than half of the total supply, spanning sizes from 420 to 732 sq ft.

As the maiden residential launch in Marina South, One Marina Gardens has garnered considerable market attention since its debut.

Exceptional Connectivity and Lifestyle Amenities

The project sits directly adjacent to the upcoming Marina South MRT station, offering residents seamless connectivity along the Thomson-East Coast Line (TEL) to major commercial and lifestyle hubs across the city.

Furthermore, One Marina Gardens directly faces Gardens by the Bay, and is in close proximity to established retail and leisure landmarks, including:

Marina Bay Sands

Marina Square

Suntec City

All accessible within a 7- to 10-minute drive, ensuring a comprehensive and vibrant urban living experience.

As Marina South continues to evolve, the precinct's residential environment and commercial amenities are poised to become even more well-established.

Approximately 68% of Units Sold Since Launch

One Marina Gardens officially launched for sale in April last year.

Over its initial launch weekend, the project moved approximately 38% of its total units at an average selling price of around S$2,953 psf.

As of 30 June this year, URA caveat data reveals that a cumulative total of 640 units have been sold, representing around 68% of the total inventory.

The overall average transacted price stands at approximately S$2,966 psf.

Compared to the newly minted benchmark of S$3,290 psf, premium high-floor units have clearly begun commanding substantial price premiums.

The development is slated to attain its Temporary Occupation Permit (TOP) in the third quarter of 2028.

Marina South's Value Proposition Taking Shape

As the pioneer residential project in Marina South, One Marina Gardens has consistently been regarded as an important bellwether for the entire precinct's growth trajectory.

With an increasing number of homebuyers turning their attention to the future development of Marina Bay, coupled with the project's doorstep MRT access, panoramic views of Gardens by the Bay, and proximity to the Core Central Business District (CBD), its intrinsic value is increasingly being reflected in transacted prices.

Setting a new all-time high psf price further illustrates that buyers are prepared to pay a premium for high floors, panoramic vistas, and prime core locations.

As more infrastructure works and future residential developments take shape across Marina South, the precinct remains one to watch closely.