The much anticipated Marina One Residences will be launched on October 11.
Developer M+S plans to release 150 to 200 units which will be priced from $1,960 to $3,100 psf.
A one-bedroom unit starts from $1.4 million, while two-bedrooms will be above $2 million. A penthouse is expected to cost more than $20 million.
“I think our prices are on par with the transactions that has occurred in the Marina Bay area and our prices reflect the intrinsic value of the project,” M+S COO Kemmy Tan said.
70 percent of the units at Marina One Residences are one and two-bedders. Only eight penthouses are available, each offering spectacular views and measuring from 6,000 to 9,000 sq ft.
Units are expected to garner a rental yield of two to three percent and could improve significantly in future.
Buyers are likely to be seasoned property investors who are looking to capitalise on the project’s investment potential in the long term, CEO of DTZ Research Ong Choon Fah said. Some may also be looking for city pads while other buyers may be downsizing from their landed homes.
Only one of its two towers will be released. “Our other tower will not be released for sale until after TOP because we take a long term view of the market and we want to be invested in Singapore’s future where it continues to be a city that attracts global investors looking for luxury properties,” Tan explained.
When completed in 2017, Marina One will be the only new integrated development in the next few years. It received good response during its private viewing last month and units have been oversubscribed.
DTZ is the lead marketer for Marina One Residences.
There is also a sales gallery in Kuala Lumpur and the project will be launched concurrently in Singapore and Malaysia.
Credits: Property Guru