{"id":55723,"date":"2022-07-05T17:00:43","date_gmt":"2022-07-05T09:00:43","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=55723"},"modified":"2022-07-14T20:21:10","modified_gmt":"2022-07-14T12:21:10","slug":"47-year-old-marine-parade-flat-sold-1-01-m","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/47-year-old-marine-parade-flat-sold-1-01-m\/","title":{"rendered":"47-year-old Marine Parade flat sold for S$1.01m"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p><a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/marine-parade\" target=\"_blank\" rel=\"noreferrer noopener\">Marine Parade<\/a> is the latest HDB town to have a million-dollar flat. This month, a five-room resale flat at Blk 28 Marine Crescent was sold for S$1,010,888. With a floor area of 1,356 sq ft, this translates to a price psf of S$745.49.&nbsp;<\/p>\n\n\n\n<p>According to a <a href=\"https:\/\/www.straitstimes.com\/singapore\/housing\/five-room-hdb-flat-in-marine-parade-sold-for-101-million-in-one-week-first-million-dollar-hdb-in-the-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Straits Times article<\/a>, the flat comes with a panoramic view of East Coast Park from all windows, including the utility room.&nbsp;<\/p>\n\n\n\n<iframe src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m18!1m12!1m3!1d3988.786002665126!2d103.9134021!3d1.3033981999999997!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x31da1875e90a6fb7%3A0xceaaae4503f796e3!2s28%20Marine%20Cres%2C%20Block%2028%2C%20Singapore%20440028!5e0!3m2!1sen!2ssg!4v1657010305248!5m2!1sen!2ssg\" width=\"600\" height=\"450\" style=\"border:0;\" allowfullscreen=\"\" loading=\"lazy\" referrerpolicy=\"no-referrer-when-downgrade\"><\/iframe>\n\n\n\n<p><\/p>\n\n\n\n<p>In fact, the flat is just around an 18-minute walk from the park, with East Coast Parkway running between the block and the park.&nbsp;<\/p>\n\n\n\n<p>Notably, Tao Nan School is around a three-minute walk from the flat. The ST article also quoted one of the sellers as saying that this was one of the selling points they believed would help them get a good price for the flat.&nbsp;<\/p>\n\n\n\n<p>More importantly, the upcoming <a href=\"https:\/\/www.99.co\/singapore\/mrt-stations\/marine-terrace-mrt\" target=\"_blank\" rel=\"noreferrer noopener\">Marine Terrace MRT<\/a> (opening in 2024) on the Thomson-East Coast Line will be around a seven-minute walk away from the flat.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-balance-lease-of-less-than-52-years\"><strong>A balance lease of less than 52 years&nbsp;<\/strong><\/h2>\n\n\n\n<p>With the lease starting in 1975, the flat has 51 years and 9 months left when it was sold.&nbsp;<\/p>\n\n\n\n<p>Nevertheless, this was not a concern for the buyers, who were reportedly a Singaporean couple planning to live out their retirement years in the flat.&nbsp;<\/p>\n\n\n\n<p>The deal was brokered by Colin Wong and Brian Ying of Propnex. Ying had told ST that the buyers had paid a <a href=\"https:\/\/www.99.co\/singapore\/insider\/cash-over-valuation-cov-hdb\/\" target=\"_blank\" rel=\"noreferrer noopener\">cash over valuation (COV)<\/a> of slightly less than S$100,000.&nbsp;<\/p>\n\n\n\n<p>According to Wong, the unit was initially <a href=\"https:\/\/www.99.co\/singapore\/sale\/property\/28-marine-crescent-hdb-9cQBLbzWuw9DR5jiimU6ip\" target=\"_blank\" rel=\"noreferrer noopener\">listed<\/a> for S$999,000, \u201cwith the intention of negotiating upwards\u201d.&nbsp;<\/p>\n\n\n\n<p>The sellers also revealed to ST that they would only sell the flat with an offer price of more than a million dollars.&nbsp;<\/p>\n\n\n\n<p>They were the second owners of the flat, having bought it in 2011 for around S$870,000.&nbsp;<\/p>\n\n\n\n<p>According to our Researcher data, 5-room flats at Marine Crescent Ville, had sold at an average price of between S$774,000 to S$865,000 over the past five years, with prices increasing at 3.94%.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/07\/marine-crescent-ville-price-trend.png\" alt=\"Marine Crescent Ville price trend\" class=\"wp-image-55724\" width=\"600\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/07\/marine-crescent-ville-price-trend.png 780w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/07\/marine-crescent-ville-price-trend-150x154.png 150w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-do-you-think-of-this-million-dollar-flat-transaction-let-us-know-in-the-comments-section-below\"><strong>What do you think of this million-dollar flat transaction? Let us know in the comments section below.&nbsp;<\/strong><\/h2>\n\n\n\n<p>If you found this article helpful, 99.co recommends <a href=\"https:\/\/www.99.co\/singapore\/insider\/first-million-dollar-flats-sold-pasir-ris-woodlands-may-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">First million-dollar flats sold in Pasir Ris, Woodlands in May 2022<\/a> and <a href=\"https:\/\/www.99.co\/singapore\/insider\/million-dollar-4-room-hdb-resale-flats-what-where-why-and-when\/\" target=\"_blank\" rel=\"noreferrer noopener\">Million-dollar 4-room HDB resale flats: What, Where, Why and When?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marine Parade is the latest HDB town to have a million-dollar flat. This month, a five-room resale flat at Blk 28 Marine Crescent was sold for S$1,010,888. With a floor area of 1,356 sq ft, this translates to a price psf of S$745.49.&nbsp; According to a Straits Times article, the flat comes with a panoramic&hellip;<\/p>\n","protected":false},"author":111,"featured_media":55725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"50320,33210,3181,52287,6799,44041","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53631,53643,57131],"tags":[57186,56274,53680],"persona":[57126],"class_list":{"2":"type-post","14":"entry","15":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - 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