Surfing the Sea‑Side Gold: Singapore’s First Million‑Dollar HDB Hit
Living next to East Coast Park is absolutely dreamy, but it comes with a hefty price tag that might make your wallet cough. Even the bottom‑tier public housing (HDB) is getting into the million‑dollar club, and the newest record settler is blowing the roof off the market.
Block 28 Marine Crescent: The headline‑maker
- $1,010,888 for a five‑room board‑room‑sized flat in a 25‑storey block.
- First time a resale HDB in Marine Parade crossed the million‑dollar threshold.
- Only 51 years of lease left – shorter than most people’s college terms.
Agent Colin Wong from Propnex has the inside scoop.
“It was a fast‑lane sale”
Colin says the unit disappeared faster than burgers at a hawker stall – sold within a week of the first viewing. “Sensational demand,” he tells the press.
Why this place is a crowd‑puller
- Every room looks out over the sea, including the kitchen (yes, even the fridge can see the waves).
- Only two groups actually saw the 126‑sqm gem before the sellers offered an option.
- In the meantime, over 30 frantic enquiries flooded in. The drama was real.
Meet the buyers
Two retirees from Singapore finally snagged the home. They’re dreaming of a sunset‑lit retirement, with the beach just a skip away. “The views are endless and the park is right next door,” they gush.
Marine Parade Resale Quest: Buyers Love the Charm, Sellers Play Hard to Get
Colin chatted with AsiaOne and let us in on a secret: old‑school HDB flats in Marine Parade are a hot ticket—not because of the short lease, but because buyers are looking to trade their landed or condo lifestyle for a retirement haven by the sea.
“I’ve met a lot of folks who say the lease‑time isn’t the worst thing in the world when they’re chasing a beach‑side nest.” Colin says.
He explains that although a few buyers were warned they might end up shelling out well over a million dollars (the price tag for a comparable HDB unit that just sold), most shrugged it off. “If the place fits, the price isn’t the end of the world,” they told him.
On the other side of the market, Colin admits “I’ve knocked on doors a few times, but I still haven’t found another seller willing to toss their Marine Parade unit onto the market.” The supply of resale flats in that estate is tighter than a punch‑drunk tea cup.
What do the numbers look like?
- Last July’s highest price for a 5‑room unit in Marine Parade was $960,000.
- That 122 sqm unit at Block 1 Marine Terrace was sold back in October.
- Today, PropertyGuru lists at least three 5‑room units in Marine Parade above the $1 million mark.
Take the Block 28 unit: a Singaporean couple with three kids originally bought it about 11 years ago for around $870,000. They’re still standing by the unit’s view, size, and proximity to Tao Nan School (less than a kilometer away) as the reasons they’ll fetch a great price now. “We believed in our unit from day one and knew it would hold its value,” one of the sellers said.
Beyond Marine Parade: The $1 Million Market Sprint
Bang, bang—other HDB neighborhoods are also buzzing. From Tiong Bahru to Woodlands and Pasir Ris, units are changing hands for over a million bucks. Even Yishun’s executive apartments have crossed the $1 million threshold.
So, if you’re hoping to make a splash in Singapore’s property pool, let’s keep an eye on Marine Parade: buyers are ready, sellers are guided by a stubborn “no” to the short lease, and the market is keeping its eye on things.
