Record-breaking $1.38 million set by a 5-room HDB at Marine Drive Gardens in D15

On May 6th, 2024, based on a record in RealInsight, a 5-room HDB flat on a middle floor at Block 64 Marine Drive (Marine Drive Gardens HDB) was sold for a record $1.38 million, joining the list of million-dollar HDB in 2024. With a total area of 1,496 sqft, this translates to $922 per square foot (PSF). This transaction marks a significant milestone as the first HDB unit in District 15 to surpass the $900 PSF mark, overtaking a 5-room flat at Marine Crescent Ville HDB that recorded $840 PSF in April 2024. 

This sale also represents the 10th million-dollar HDB transaction and is the most expensive to date in D15 Marine Parade, priced 27.78% higher than the previous record, which occurred in December 2022 at Marine Terrace Walk HDB, where a 5-room unit on a high floor was sold for $1.08 million, or $822 PSF. 

Marine Drive Gardens is a 99-year leasehold HDB development located along Marine Drive in District 15, Marine Parade. Completed in 1976, it consists of 9 blocks with a total of 1,326 units, ranging from 3 to 5 rooms. The average transacted price in the past 3 years has ranged from $597 to $685 PSF. The project is conveniently located within 10-minute walk from Marine Parade and Marine Terrace MRT Station (Thomson-East Coast Line), which are projected to be completed within 2024.

In the past 3 years, D15 Marine Parade has seen an average of 4% year-on-year increase in average transacted PSF of HDB flats. As we come closer to the completion of Marine Parade and Marine Terrace MRT Stations, it is expected that property prices surrounding these 2 MRT stations will continue to rise. 

Chart: Average Transacted PSF of HDB flats in District 15 from RealInsight

*Data is accurate as of the published date of this article.

*Disclaimer: Our real-time database is updated every time a transaction is submitted by an agency. While we strive to maintain the accuracy and completeness of the data, please note that transactions may not always be completed, and information provided may be subject to change or error.

All analytical and visually interpreted data in this report is powered by RealInsight, a powerful tool for property developers, investors and institutions. It offers a complete solution for development planning or portfolio building by providing access to real-time data regarding properties, developers, land sales and data analytics tool for market research and reports. Find out more about RealInsight here.

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