When it comes to unprofitable condo sales, Marina Bay is no stranger. Despite its status as one of Singapore’s most iconic luxury districts, not every owner has walked away with a profit. The latest case at Marina Bay Residences is especially striking — a spacious 4-bedroom unit lost over S$3 million in value within such a short period.
This condo resale is recorded to be the most unprofitable transaction in August 2025.
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4-bedder at Marina Bay Residences sold at a S$3.227 million loss
A 4-bedroom unit at Marina Bay Residences recently changed hands with the official transaction dated 15 August 2025. The 2,379-sqft unit, located on the 17th floor, fetched a price of S$5.1 million or S$2,144 psf. This figure is close to the project’s current average of S$2,131 psf.
Notably, this transaction is the first 4-bedder resale at Marina Bay Residences this year. Previous deals had only involved smaller 1 to 3-bedroom layouts, which typically command higher psf prices. That difference often helps push the overall project average upward.
Large 4-bedroom units within the project rarely change hands. In the last five years alone, only five such transactions have taken place. Two of them involved this same 17th-floor unit. Yes, the latest seller had held onto the property for just around three years before selling it at a S$3.227 million loss.
Marina Bay Residences is a 99-year leasehold development that obtained its Temporary Occupation Permit (TOP) in 2010. Since its lease began in 2005, the project currently has about 79 years remaining.
Interestingly, even with such a steep loss, the seller of this 4-bedder still managed to cash out above the market average for similar condos in the area. At S$2,144 psf, the sale price came in higher than the S$2,049 psf average for condos in Marina Bay with similar lease lengths.
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In other words, this development is still commanding a premium relative to other older leasehold condos in Marina Bay. The question then becomes: what exactly drove such a significant loss in August 2025?
Last two owners suffered capital losses
The seller originally purchased the 4-bedroom unit in June 2022 for S$8.327 million, or S$3,500 psf. At the time, the project’s average psf was S$2,275. This means the seller paid about 53.85% higher than the project average. It was also the only 4-bedder transaction in that year.
The gap between the 2022 entry price and the 2025 exit price amounted to a nearly 40% decline. This sharp drop over such a short holding period might reflect shifting buyer preferences in the Marina Bay area. Back in 2022, demand for large-format units appeared strong enough to justify a premium. By 2025, however, the appetite for 4-bedroom layouts seems to have waned, resulting in a big capital loss on the seller’s end.
It’s worth noting that this wasn’t the first unprofitable transaction for the same unit. The previous seller in 2022 had also taken a hit, exiting the property at a loss despite selling at a price 53.85% above the project’s average at the time.
Unit transaction history
This 4-bedder condo on the 17th floor has been changing hands four times since the original owner bought it from the developer in 2007.
| Transaction Date | Selling Price (S$) | PSF (S$) | Type | Profit |
| 15/08/25 | 5.1M | 2,144 | Resale | -3.227M |
| 06/06/22 | 8.327M | 3,500 | Resale | -713K |
| 05/06/13 | 9.04M | 3,800 | Resale | 1.308M |
| 05/04/10 | 7.732M | 3,250 | Sub Sale | 2.741M |
| 08/01/07 | 4.991M | 2,098 | New Sale | N/A |
The unit’s value began declining after its 2013 peak. By the 2022 resale — around 17 years into the 99-year lease — the seller already suffered a loss of about S$713,000. This result, however, is not unusual, as leasehold property is expected to gradually lose value as it gets older. Still, the S$3.227 million plunge in just three years of holding in its latest resale is pretty jaw-dropping.
On the flip side, earlier transactions told a very different story. The original owner made a massive S$2.741 million profit via a sub-sale in 2010, just 3 years after they first purchased the unit. To this day, this sale is among the most profitable condo transactions in Marina Bay Residences.
Before the project’s completion, some 4-bedder owners cashed out with enormous gains. In 2010, for instance, another seller exited with an even higher profit of S$3.315 million. Another earlier standout record came in late 2007, when one owner made S$3.067 million in profit after holding the unit for just 11 months. These eye-popping capital gains, however, are far less likely today due to stricter Seller’s Stamp Duty (SSD) rules introduced in 2025.
Most unprofitable sale at Marina Bay Residences
The recent S$3.227 million loss is also the biggest capital loss ever recorded in Marina Bay Residences. So far in 2025, three other units have also sold at a loss within the development, ranging from S$219,000 to S$496,169, though all were held for much longer periods of 15 to 17 years. At the same time, four profitable sales have also been recorded this year.
All in all, the staggering unprofitable resale in August looks to be an isolated fire sale rather than a sign of the project’s overall weakness.
Average psf has been up by over 5% since 2020
Since 2020, the average psf has risen 5.53%, climbing from S$2,019 psf to today’s S$2,131 psf across 10 transactions. However, the project’s average psf has slipped by around 5% since 2024. If this downward trend continues, more unprofitable transactions could emerge by year-end.
Looking further back, prices at Marina Bay Residences peaked in 2013 at S$2,978 psf and have since fallen by about 28.45% as of August 2025.
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Comparison to other leasehold condos in District 1
At the beginning of this article, we mentioned that the seller of this 4-bedder unprofitable transaction still managed to exit above the average of similar units in the area. To further compare, we looked at two nearby developments: The Sail @ Marina Bay (TOP: 2008) and One Shenton (TOP: 2011).
In addition to the similar TOP, all three developments share a prime location within walking distance to Marina Bay, Downtown, and Shenton Way MRT stations, giving residents access to the Downtown Line, Thomson-East Coast Line, North-South Line, and Circle Line.
Marina Bay Residences / The Sail @ Marina Bay / One Shenton
Looking at the price growth over the last 5 years, Marina Bay Residences has actually lagged behind its neighbours. The Sail @ Marina Bay led with a 15.44% growth, while One Shenton recorded a 13.76% upside since 2020.
As of now, the average psf stands at:
- Marina Bay Residences: S$2,131 psf
- The Sail @ Marina Bay: S$2,122 psf
- One Shenton: S$1,870 psf
For buyers eyeing Marina Bay, One Shenton appears more attractive given that the resale units here are currently priced below S$2,000 psf. On the other hand, the price growth recorded in the last 5 years, which has outpaced some of the projects in the area, can be an additional assurance for future capital upside at One Shenton.
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District 1’s overall leasehold condo market
Across District 1 (Marina, Boat Quay, Raffles Place), the leasehold condo market has grown by 28.59% since 2020. Much of this momentum came after new launches entered the scene in 2024, including One Marina Gardens along Marina Gardens Lane and Union Square Residences on Havelock Road.
New condo launches in District 1
At One Marina Gardens, units have transacted at an average of S$2,950 psf in 2025, about 5.52% above the District 1 average of S$2,787 psf. With 523 transactions so far this year, the 937-unit development is already 56% sold.
Union Square Residences, meanwhile, is priced higher at S$3,223 psf, over 13% above the district average. The steeper price tag, above the S$3,000 psf mark, may explain why the 366-unit new launch has seen a slower pace. The project has moved around 37% of its units as of today.
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Before these launches, the District 1 market had been sluggish. A high 60% Additional Buyer’s Stamp Duty (ABSD) on foreign buyers, an oversupply of investor-driven units, and a lack of family-friendly amenities have held demand back.
Looking forward, the upcoming Marina South precinct could reshape the area. Planned as a mixed-use neighbourhood with parks, shops, dining, and recreational facilities all within a 10-minute walk, it aims to attract more local families. One Marina Gardens new launch is the first one to tap into this vision.
Wrapping up
The S$3.227 million loss at Marina Bay Residences shows how timing and entry price can make or break an investment. Even in a prime district, paying far above the market average can backfire, especially when buyers’ behaviour is known to shift within just a few years.
Buyers eyeing District 1, especially the Marina Bay area, should weigh not only prestige and location but also lease decay concern, evolving buyer demand, and how new launches might redefine the area’s property landscape.
Enjoying this in-depth analysis? 99.co Condo Cash or Crash covers monthly notable transactions in Singapore’s private property market.
About Ananda Bayu
Ananda has been wrangling Singapore's complex real estate trends into readable bites since 2020. She writes like she's explaining it to a friend over kopi — because who has time for jargon? When off the clock, she’s probably doom-scrolling through cat memes on X, convincing herself it's the highest tier of "creative inspiration".
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