Marina One Residences

Overview & Key Facts

Marina One Residences is a 1,042-unit, 99-year leasehold luxury condominium at 21–23 Marina Way in District 1 — two 34-storey residential towers forming part of a 3.67-million-sqft mixed-use complex that includes two 30-storey Grade A office towers and a retail podium. Developed by M+S Pte Ltd, a joint venture between Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional Berhad, and designed by Ingenhoven Architects (Düsseldorf) with landscape by Gustafson Porter + Bowman, the development was completed in 2018 and won the MIPIM 2018 Best Innovative Green Building, CTBUH 2018 Award of Excellence for Best Tall Building (Asia & Australasia), and BCA Green Mark Platinum certification.

The architectural centrepiece is the “Green Heart” — a 65,000-sqft biodiversity garden carved into the centre of the four-tower complex, featuring over 386 species of tropical plants and trees, a cascading three-storey (13-metre) waterfall, reflecting pools, and a microclimate engineered through computational wind analysis. Inspired by Asian paddy-field terraces, the landscaped area is 125% larger than the original site footprint. It is the largest public landscaped space in Marina Bay’s CBD and earned global recognition as a landmark in biophilic “supergreen” architecture. At night, the Green Heart transforms into a dramatically lit tropical canyon between glass towers — one of Singapore’s most photographed residential spaces.

But the headline that every prospective buyer must confront is not the architecture — it is the profitability record. Marina One Residences recorded the highest number of unprofitable transactions of any Singapore condominium in 2024, with 30 loss-making deals out of 40 resale transactions. Only 25% of sellers turned a profit; 72.5% sold at a loss. The largest single loss was $1.154 million on a 4-bedroom unit purchased in 2018 at $2,406 PSF and sold at roughly $1,894 PSF. The average PSF has declined 19.9% from its 2018 peak of $2,539 to approximately $2,002 today. The profitability score of 13/100 is not a rounding error — it reflects a development where the vast majority of sellers who bought at launch or shortly after are underwater. This is a cautionary case study in what happens when a premium CBD development, priced for a global investor audience, meets a 60% foreign-buyer ABSD regime.

Location & Connectivity

Marina One Residences occupies the geographic heart of Singapore’s financial district — the narrow strip between Marina Bay Financial Centre and the future Marina South precinct. This is Singapore’s answer to Canary Wharf or La Défense: a purpose-built CBD extension master-planned by URA to house the next generation of financial institutions, technology firms, and professional services companies. The office towers within the Marina One complex itself house tenants including Meta (Facebook), Grab, and Bank Julius Baer. Residents are not commuting to the CBD — they are living inside it.

MRT connectivity is exceptional. Marina Bay MRT station — a triple-line interchange serving the North-South Line (NSL), Circle Line (CCL), and Thomson-East Coast Line (TEL) — is approximately 130 metres away, connected via underground linkways through the retail podium. Downtown MRT station (Downtown Line) is roughly 500 metres on foot. This gives residents practical access to four MRT lines within a 5–7 minute walk — a connectivity density matched by virtually no other residential address in Singapore. Raffles Place (NSL/EWL interchange) is one stop away. For drivers, the Marina Coastal Expressway (MCE) entrance is adjacent, providing direct access to the East Coast Parkway (ECP) and Ayer Rajah Expressway (AYE). Changi Airport is a 15-minute drive.

The immediate lifestyle radius, however, reveals the paradox of living in a financial district. Marina Bay Sands and The Shoppes (luxury retail, celebrity restaurants, ArtScience Museum) are a 10-minute walk via the Helix Bridge or underground linkway. Gardens by the Bay is similarly accessible on foot. But daily-life amenities — a proper wet market, a neighbourhood hawker centre, a paediatrician, a hardware store — are conspicuously absent. The nearest supermarket is within the retail podium (Cold Storage), which is adequate but not the full-service option families need. There are no primary schools within 1 km — the nearest is roughly 2 km away. For families with school-age children, this is a dealbreaker. For single professionals and couples working in the CBD, it is a non-issue.

The after-dark atmosphere is a legitimate concern that features prominently in resident reviews. When office workers leave at 6–7pm, the Marina Bay area becomes markedly quiet. There are no neighbourhood coffee shops, no elderly residents doing tai chi in the park, no children cycling to school. This is a curated, corporate environment — pristine but soulless after hours. Some residents find this serene; others find it isolating. Prospective buyers should visit on a Sunday evening to experience the neighbourhood at its quietest before committing.

Facilities

Marina One Residences’ facilities are anchored by the Green Heart — and rightly so, because this is not a standard condominium garden. Designed by Christoph Ingenhoven and Gustafson Porter + Bowman, the 65,000-sqft biodiversity canyon houses 386 plant species, 700 trees, a 13-metre cascading waterfall, reflecting pools, and a microclimate that is measurably cooler than the surrounding CBD streets. The interplay between tower geometry and garden topography promotes natural ventilation through computational wind channelling — a genuine engineering achievement, not marketing copy. At ground level, residents walk through what feels like a tropical ravine between glass cliffs. On the upper podium terraces, the planting creates stepped garden rooms overlooking the waterfall. This is the facility that defines Marina One and distinguishes it from every other CBD residential development in Singapore.

The conventional amenities are well-specified but not extravagant for a 1,042-unit development. The centrepiece is a 50-metre lap pool — a proper competition-length pool with spa seats and poolside cabanas, dramatically positioned with views toward the CBD skyline. Supporting water facilities include a jacuzzi, aquatic gym pool, and children’s pool. The 200-sqm gymnasium is fitted with current-generation equipment. A sauna, steam room, and wellness sanctuary provide recovery options. Entertainment facilities include a private dining room with full kitchen, teppanyaki terrace, BBQ terrace, wine room, residents’ lounge, and relaxation cabanas. A children’s playground rounds out the family amenities.

The integrated retail podium below the residential towers adds another amenity layer: Cold Storage supermarket, F&B outlets, and specialty retailers are accessible via lift without leaving the building. This is a genuine advantage for daily convenience — residents can pick up groceries, grab a coffee, or eat out without stepping outside. The concierge service handles parcel collection, dry cleaning, and other practical needs. For a CBD development, this integrated convenience partially compensates for the neighbourhood’s lack of traditional amenities.

Parking is generous by CBD standards: a multi-storey car park with two wide entrances, spacious lots, and a car wash bay. Bicycle parking is also provided. Monthly season parking is paid separately and is not allocated to specific units — a common arrangement for CBD developments but worth budgeting for (approximately $300–$400/month).

Unit Sizes & Layout

Marina One Residences offers 22 floor-plan configurations across 1,042 units in two 34-storey towers. The unit mix is heavily weighted toward smaller configurations: 1-bedroom (657–775 sqft, 229 units — 22%), 2-bedroom (969–1,130 sqft, 144 units — 14%), 2-bedroom+study (1,141–1,216 sqft, 29 units — 3%), 3-bedroom (1,507–1,539 sqft, 86 units — 8%), 4-bedroom (2,045–2,250 sqft, 29 units — 3%), and penthouses (6,491–8,568 sqft, 4 units). The 1-bedroom and 2-bedroom types account for approximately 39% of all units — an investor-oriented mix that was designed to appeal to the foreign-buyer and corporate-tenant market that existed before the 60% ABSD era. This mix is now a structural headwind: the development has too many small units competing for a shrinking pool of foreign buyers and a rental market that, while deep, cannot sustain launch-era pricing.

Unit sizes are generous relative to newer CBD launches. The 1-bedroom at 657–775 sqft is substantially larger than the sub-500-sqft shoeboxes that dominate new CCR launches. The 3-bedroom at 1,507–1,539 sqft offers genuine family-scale living space. Layouts are squarish and regular, maximising useable area — a characteristic of Ingenhoven’s European design sensibility rather than the elongated, corridor-heavy layouts common in Singapore. Ceiling heights are 3 metres standard and 3.4 metres in penthouses. Finishes include Miele kitchen appliances, Poggenpohl cabinetry, and Villeroy & Boch bathroom fittings — a specification tier that was premium at launch and still presents well eight years later. Private lift lobbies are provided for all units except 1-bedrooms and the smallest 2-bedroom type.

Outward-facing units capture impressive CBD panoramas: north-facing stacks overlook Marina Bay Sands, the bay, and the city skyline; south-facing stacks look toward the future Marina South precinct and eventually the sea. Higher floors command significant view premiums. The balconies feature Marina One’s distinctive woven-pattern railing — an architectural signature that photographs beautifully but, per some residents, creates cleaning challenges due to the intricate metalwork. Sound insulation between units is reported as good (“walls are thick so you don’t hear sounds from neighbours”), which is a notable positive compared to many developments of this era.

Pricing & Market Position

Across 221 recorded transactions (all-time), sale prices range from $1,200,000 to $19,888,000, averaging $2,671,322.

Over the last 12 months, transactions averaged $1,920 psf.

Rents range from $2,000 to $60,000 per month across 2,648 rental transactions. Current rental yield sits at approximately 3.8%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at MARINA ONE RESIDENCES typically rent harder per dollar of purchase price:

Price Appreciation

From 2021 to 2026, the average PSF has declined by 22.8% (from $2,447 to $1,888 psf).

Neighbourhood Comparison

One Marina Gardens ($2,956 PSF, 937 units, new launch 2025) is the most direct competitor — the first residential launch in the adjacent Marina South precinct, developed by Kingsford Group. At a 48% PSF premium over Marina One ($2,956 vs $2,002), One Marina Gardens offers a fresh 99-year lease, modern specifications, and first-mover positioning in URA’s master-planned “garden district.” However, unit sizes are significantly smaller: the 3-bedroom at One Marina Gardens is 904 sqft versus Marina One’s 1,507–1,539 sqft. For buyers choosing between them, the trade-off is clear: One Marina Gardens offers a new lease and modern finishes at a higher PSF with smaller units; Marina One offers substantially more space, an established address, and a 48% PSF discount — but with a depleting lease (84 years remaining) and the documented profitability headwinds. Cash-flow-oriented investors will favour Marina One’s yield; capital-preservation buyers will favour One Marina Gardens’ fresh lease.

The Sail @ Marina Bay ($2,008 PSF, 1,111 units, TOP 2008) is the veteran Marina Bay residential address — the twin-tower icon that defined the precinct before Marina One existed. At nearly identical PSF ($2,008 vs $2,002), The Sail offers a similar value proposition but with key differences: a freehold-equivalent 99-year lease from 2004 (77 years remaining vs Marina One’s 84), older specifications, but a higher overall profitability track record (67.6% profitable transactions vs Marina One’s 25%). The Sail has had longer to find its market-clearing price, while Marina One is still unwinding its launch premium. For rental yield, both developments compete for the same CBD tenant pool; Marina One’s newer finishes and Green Heart give it an edge with premium tenants willing to pay more.

Union Square Residences ($3,187 PSF, new launch) represents the ultra-premium end of the CBD residential market. At a 59% premium to Marina One, Union Square targets a buyer profile that values brand-new construction and flagship positioning above value. The comparison illustrates how far Marina One’s secondary-market pricing has fallen below new-launch CBD benchmarks — and reinforces the case that Marina One at $2,000 PSF represents genuine relative value for those willing to accept resale status.

The broader market context is perhaps the most telling comparison. New suburban (OCR) launches like Parktown Residence in Tampines debuted at $2,360 PSF; ELTA entered at $2,537 PSF; Springleaf Residence in Upper Thomson averaged $2,175 PSF on launch weekend. Marina One Residences — a District 1, Green Mark Platinum, Ingenhoven-designed, triple-MRT-interchange address — now trades below all of them. This price inversion between CCR resale and OCR new launch is historically unusual and represents either a generational buying opportunity at Marina One or a structural repricing that reflects the CBD’s fundamental limitations as a residential neighbourhood. The answer is probably both.

Lease Decay Analysis

The 99-year lease runs from 2011, meaning approximately 15 years have already been consumed. Roughly 84 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~74 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates MARINA ONE RESIDENCES across multiple dimensions.

What Residents Say

“The 50m pool is great for swimming laps. Connectivity to all major MRT lines is excellent. And we’re walking distance from some of the best cocktail bars in Singapore.”

— Resident review via PropertyGuru

“Units facing inward receive almost no natural sunlight, making the living space dark and damp. The opposite building is so close that there is a complete lack of privacy — you can literally see into your neighbour’s home. Mould develops easily due to poor ventilation and low sunlight.”

— Resident review via PropertyGuru

“Fire alarms go off far too often, including during the night — sometimes at 3 or 4am — which is disruptive and shows poor management.”

— Resident review via PropertyGuru

“Management has improved after changing service providers. The iCondo app means issues are tended to more quickly now.”

— Resident review via PropertyGuru

“Walls are thick so you don’t hear sounds from neighbours, and overall the quality of living is very high. Beautiful exterior — but overpriced rent.”

— Resident review via 99.co

The resident feedback at Marina One Residences splits cleanly along two axes: unit orientation and lifestyle expectations. Residents in outward-facing units with city and bay views are overwhelmingly positive — they praise the pool, the MRT connectivity, the Green Heart ambiance, and the convenience of having retail and dining directly below. The “cocktail bars” comment captures a lifestyle that genuinely works for young professionals and couples who chose this address precisely because they want to live at the centre of Singapore’s nightlife and dining scene.

Residents in inward-facing units tell a starkly different story. The mould issue is the single most damaging complaint: multiple residents across PropertyGuru, EdgeProp, and 99.co describe recurring wall mould caused by minimal sunlight and poor natural ventilation in units facing the Green Heart courtyard. The irony is painful — the development’s signature architectural feature, the biodiverse tropical garden, creates the humidity and shade conditions that breed mould in the adjacent units. The fire alarm complaints are the second most frequent issue: false alarms at 3–4am are described by multiple residents, suggesting a systemic maintenance or sensor-calibration problem. Lift reliability has improved after a major overhaul, though motor noise is now audible in some units.

The value-for-money sentiment is nuanced. Several residents describe the rent as “overpriced” and “not worth it,” while others consider the location premium justified. Notably, residents who have lived through the management transition (to a new service provider with the iCondo app) report meaningful improvement in response times and maintenance quality. This suggests the operational issues are being addressed, even if the structural issues (mould in inward-facing units, fire alarm systems) require more fundamental solutions. Overall, Marina One attracts residents who prioritise CBD access and architectural prestige — and those who stay long-term tend to be those in outward-facing units with natural light.

Strengths & Weaknesses

Verdict

Marina One Residences is an architectural landmark and a financial cautionary tale, packaged in the same 34-storey glass towers. The Ingenhoven-designed Green Heart is genuinely world-class — a biophilic engineering achievement that earned global recognition and creates a living environment unmatched by any other CBD residential address in Singapore. The connectivity (130 metres to a triple-line MRT interchange, four lines within walking distance) is essentially the best in the country. The unit finishes (Miele, Poggenpohl, Villeroy & Boch) remain premium. The M+S Pte Ltd (Temasek/Khazanah) developer pedigree is sovereign-grade.

And yet, 72.5% of resale transactions in 2024 resulted in losses. The profitability score of 13/100 is the lowest we have recorded for any major CCR development. The PSF trend — $2,474 → $2,297 → $2,098 → $2,026 → $1,996 — has been relentlessly declining for five consecutive years. The largest single loss was $1.154 million. These are not cherry-picked outliers; they represent the dominant seller experience at Marina One Residences. The development that was supposed to be the crown jewel of Singapore’s new downtown has instead become the poster child for what happens when cooling measures collide with foreign-buyer-dependent pricing.

The root causes are structural, not cyclical. First, the 60% ABSD for foreign buyers (introduced at 30% in 2022, doubled to 60% in 2023) eliminated the global investor demand that supported launch-era PSF levels of $2,400–$2,500+. Nearly 30% of Marina One buyers were foreigners — a cohort now effectively priced out of the market. Second, the CBD location lacks family-friendly infrastructure (no schools within 1 km, no neighbourhood amenities), limiting the local buyer pool to singles and couples. Third, the heavy 1-bedroom and 2-bedroom unit mix means intense internal competition among sellers of similar units, creating a race to the bottom on pricing. Fourth, the incoming supply from One Marina Gardens ($2,956 PSF) and future Marina South launches will add competing inventory in the same micro-market.

The rental story is different — and it is where the investment case, such as it exists, is strongest. With 2,451 rental transactions and an average rent of $6,452/month, Marina One has enormous rental depth driven by CBD professionals, expatriates working at the office tenants directly below (Meta, Grab, Julius Baer), and the sheer convenience of living atop a triple-MRT interchange. The 3.71% gross yield is solid for a CCR address. For a buyer entering today at $2,000 PSF — which is, remarkably, on par with or below many new OCR (suburban) launches like Parktown Residence ($2,360 PSF) and ELTA ($2,537 PSF) — the rental income proposition is genuinely attractive. You are buying a CCR Green Mark Platinum address at OCR prices with above-average yield.

The honest verdict: Marina One Residences is a buy for rental income at today’s reset prices, not a buy for capital appreciation. Buyers entering at $1,900–$2,100 PSF are buying at a fundamentally different risk level than those who entered at $2,400+ PSF during launch. The Green Heart, the MRT connectivity, and the rental depth are real and durable advantages. But anyone expecting the PSF to recover to 2018 levels is betting against the ABSD regime, the school desert, the unit-mix headwinds, and the incoming Marina South supply — all at once. The smart play is to capture the yield, enjoy the world-class architecture, and accept that this is a rental-income asset rather than a capital-gains trade.