CapitaLand was inundated with new buyers for 31 of the 50 condos, just release for its Marine Blue freehold project. A penthouse suite, a one-bedroom-plus-study, and the remainder made up of 2 bedroom condos.
The median price of these units were between $1800 and $2000psf , which according to media sources was a 10% discount from Marine blues original listings.
Westwood Residences Westwood Avenue
In contrast, recent purchases of freehold condos in the immediate area in Westwood Residences, such as those in Corralis, SeaView, Parc Seabreeze, and 70 St. Patrick’s ranges from $1630-$1730psf. The rent in this area average between $3.20 and $4psf per month, SLP international’s Executive Director, Nicholas Mak was quoted as saying.
Comprising a total of 4 Strata Terrace houses and 120 condominiums, Marine Blue is a stone’s throw from the proposed Marine Parade MRT station near Westwood Residences and is adjacent to the Grand Mercure, Roxy Hotel in Marine Parade.
From the spokesperson at CapitaLand comes the following quote, “The project is expected to attract young professionals and families seeking a modern well-designed house in the mature Marine Park Estate. It is also close to the historically rich Katong area, its food belt, a transportation network, as well as amenities like schools and shopping malls.”
New Malls at Westwood Residences EC
The real estate experts agree that Marine Blues rental potential is good due to its close proximity to East Coast Park and malls such as Katong 112 and Parkway Parade.
“”The area is generally seen as robust generating much interest from expatriates living near Westwood Residences, who consider it a cost-effective option in upmarket locality””, said RST, research director Ong Kah Seng