Bank sale brings 99-year leasehold Marina Collection units to $1,269 psf low, with discounts of up to 56%

Gerine Tang Yi Qian11-06

According to a price list shown to City & Country, some units are priced at a whopping 50% discount from the launch price, which averaged $2,750 psf between 2007 and 2008.Units at Marina Collection in...

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leasehold Marina Collection units to $1,269 psf low, with discounts of up to 56%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-11-06 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/cityandcountry/residential/bank-sale-brings-99-year-leasehold-marina-collection-units-1269-psf-low?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Gerine Tang Yi Qian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>According to a price list shown to City & Country, some units are priced at a whopping 50% discount from the launch price, which averaged $2,750 psf between 2007 and 2008.Units at Marina Collection in...</p>\n\n<a href=\"https://www.theedgesingapore.com/cityandcountry/residential/bank-sale-brings-99-year-leasehold-marina-collection-units-1269-psf-low?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source 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ACC","BK4563":"昨日强势股","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","URA":"Global X Uranium ETF","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","SG9999014302.SGD":"RHB Singapore Income Fund SGD"},"translate_title":"银行出售将 99 年租赁 Marina Collection 单位降至 1,269 美元/平方英尺的低点，折扣高达 56%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SDC":1,"URA":1,"U11.SI":0.85},"content_text":"According to a price list shown to City & Country, some units are priced at a whopping 50% discount from the launch price, which averaged $2,750 psf between 2007 and 2008.Units at Marina Collection in Sentosa Cove have been put on the market at steep discounts, with some prices up to 56% below their original launch prices. \nA total of 38 units, comprising 17 three-bedroom and 21 four-bedroom apartments, are being offered through a bank sale, according to a price list dated Oct 26 by the development's sales and sole marketing agency PropNex.  \nThe three-bedroom units, ranging from 1,873 to 2,099 sq ft, are priced between $1,301 psf and $1,407 psf, with absolute pricing starting from $2,588,000.\nAccording to a price list shown to City & Country, some units are priced at a whopping 50% discount from the launch price, which averaged $2,750 psf between 2007 and 2008. The 2007-2008 data are downloaded from the Urban Redevelopment Authority's (URA) Realis platform. \nMeanwhile, four-bedroom units, ranging from 2,185 to 2,390 sq ft, are priced between $1,269 psf and $1,396 psf, with absolute prices starting at $2,948,000. The average psf price for these four-bedroom units during the launch period between 2007 and 2008 was $2,806, according to the same URA dataset. \nAccording to PropNex, the maintenance fee for the three-bedroom units is $1,734 (inclusive of goods and services tax) per month and $1,951 for four-bedroom units. The maintenance fee comprises contributions to the management fund, sinking fund and Sentosa Development Corporation (SDC) at $44.90 per share value. \nThe units are being sold on an \"as-is-where-is\" basis. Some units are tenanted, with tenant expiry expected between 4Q2026 and 4Q2028. The preview period for these units runs from Nov 6 to Nov 13, and the booking day is Nov 14.\nThe steepest discount among the units for sale is a 2,390 sq ft four-bedroom unit at #01-11, priced $1,282 psf or $3,064,0000, at about a 56% discount when compared to the previous purchase of the same stack, which was sold at $2,912 psf or $6,362,000 in January 2008. \nOther recent transactions include a three-bedroom unit at #02-26, which sold for $2.78 million, or $1,484 psf, in June 2026, and another three-bedroom unit at #03-27, which fetched $2.8 million, or $1,495 psf, in April 2026. \nDeveloped by Indonesian conglomerate Lippo Group and launched in 2007, Marina Collection in Sentosa Cove comprises 124 units across three four-storey blocks at 13, 15 and 17 Cove Drive. The 99-year leasehold development, completed in 2011, was developed by Lippo subsidiary Lippo Marina Collection (LMC).\nAccording to URA data, the developer sold 30 units between 2007 and 2008 at an average price of $2,748 psf across all unit types. The average price for three-bedroom units during the initial launch period was about $2,750 psf, while four-bedroom units averaged $2,806 psf. \nThe launch took place before Singapore introduced a series of property cooling measures following the Global Financial Crisis in 2008.\nThe first round of policy tightening began in September 2009 with the removal of the Interest Absorption Scheme (IAS) and Interest-Only Scheme (IOS). The former allowed buyers to defer instalments until units were fully completed, with banks requiring only interest payments, which developers would pay; while the latter is a home loan that does not require repayments on the loan principal.\nUOB is selling the units through a bank sale after Indonesian developer LMC was found liable for conspiring with property agents to mislead the bank into disbursing inflated housing loans to 38 purchasers of units in a condominium it developed. \nThe conspiracy led UOB to disburse about $182 million in inflated home loans, financing more than 100% of the purchase prices of the luxury homes in Sentosa Cove.\nAfter the buyers defaulted on their loan payments, UOB repossessed the properties and rented them out. \nIn late October this year, the High Court ordered LMC to pay $82.4 million, a $6.4 million increase due to interest accrued that was omitted when Justice Woo Bih Li raised UOB's award from $17.7 million to $76.1 million in August this year.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.53.0","shortVersion":"4.53.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2681892161","isCrawlerRequest":true}