Marine Parade HDB - Review on 5room flat at Blk 1 Marine Terrace
Updated: 5 days ago
Happy new year!
The past year has been one that is most eventful. The Washington Post asked their readers to describe 2020 in one word or phrase. Not surprising these are the top 3 words.
Exhausting. Lost. Chaotic.
A 9-year old Clarke Smith summarizes 2020 as follows:
Like looking both ways before crossing the street and then getting hit by a submarine.
Indeed, 2020 had been one of the craziest years we have ever witnessed.
Thankfully the year is over and we are now into 2021!
Today we are going to review on a 5room flat that I am marketing. This is located in Blk 1 Marine Terrace.
Before that, let's take a look at how the HDB market has been performing and the market outlook for 2021.
HDB Resale Market Performance & Outlook
The HDB resale market presented an impressive report card for 2020.
Despite the pandemic and rising flat supplies, prices of HDB resale flat rose 2.9% in Q4 2020. This is the biggest quarterly rise in almost 10 years - since Q3 2011!
For the whole year of 2020, prices of HDB resale flat rose 4.8%, compared to a 0.1% growth in 2019, and a 0.9% decline in 2018.
What attributes to the recovery of the HDB resale market?
Firstly, a slew of policy changes was made over the past 2 years.
These include higher grants for first-time HDB buyers and raising the income ceiling of eligible buyers. This improves the affordability for Singaporeans to own HDB flats.
There were also changes made to the CPF usage and HDB loan. This increases the attractiveness of older flats.
Secondly, because of the pandemic, the completion period for BTO flats has become longer. This diverted some demand towards the resale market as those with immediate housing needs will prefer resale to BTO flat.
Thirdly, there are still much uncertainties and weak employment market. Families may want to downgrade to HDB flats.
Due to the above reasons, the resale volume for 2021 may rise from 3 to 5%. Prices may also continue to rise 2 to 5%. (Ref to chart below).
With a clear picture of how the HDB resale market has performed in the year 2020, let's now proceed to review this new listing that I am marketing - A 5room flat at Blk 1 Marine Terrace.
About This Unit
The 5room units in Marine Parade are located in a point block. A point block has 25 levels, and 4 units on each level. Each unit is located at the corner of each level.
Marine Parade is a small estate with only about 7,900 units.
This precinct is divided into 3 areas - Marine Terrace (circled in green), Marine Crescent (circled in red) and Marine Drive (circled in black).
Blk 1 is a point block located at the edge of Marine Terrace.
For more details on amenities in Marine Terrace, please read my article: What To Look Out For When Buying A HDB Flat In Marine Parade
As mentioned, there are a total of 25 levels. This unit is located on the mid-floor.
You can get a good view of the sea from this level.
As the 5room units in Marine Parade are all located in a point block, each unit being at a corner of each level, will have different facing.
For those who are familiar with flats in Marine Parade, you will know that units facing the South will be facing the sea direction. If there are no taller buildings blocking the view and you are on a level high enough to clear the trees, you will get the sea view.
Due to the layout of a 5room in a point block, owners will get a double frontage view.
The main view comes from the living room and 2 common bedrooms, which is either the South or North facing. The second view comes from the balcony and the master bedroom, which is either the East or West facing.
Buyers are sometimes concerned with units facing west as the afternoon sun might cause the unit to be warm.
Due to the shape of our coastline and the way the blocks are built, the 5room units with balcony facing east generally get a good view of the sea too.
This unit is most suitable for someone who is planning to do a full renovation.
The owners have kept the place well, and there are not many built-in furnitures. Buyers will not need to spend a huge sum of money on hacking.
What I like most about this unit is the feeling when you step in. It feels peaceful and there is a sense of tranquility in the unit.
What I Like Most About This Unit
(1) Full seaview
Units with living room faces south, and balcony faces east are the most popular.
You get full seaview from this unit, starting from the living room, bedrooms, balcony and even the kitchen!
P/s: As Blk 1 Marine Terrace is located next to Victoria JC, you get a good unblocked view of the stadium from the balcony too!
(2) Minimal noise from ECP
Blk 1, 2 and 3 are staggered from one another, so units facing south offer unblocked view of the sea.
However, as they are facing the ECP, they also get the traffic noise.
Like what I always tell buyers: Seaview and traffic noise comes in a package. You want the view, you get the noise.
Some buyers are very sensitive to traffic noise.
Blk 1 is set back furthest from the ECP. You get the panoramic seaview but the traffic noise is much lower as compared to other blocks.
(3) Unit is in its original condition
I have worked with many buyers in Marine Parade.
Many of them have their own idea of how they want their flat to be like, and are therefore looking for unit which allows them to do a full renovation.
This unit is in its original condition. It does not have many built-in furnitures.
Best for such buyers!
Recent Transacted Price
The price range for 5room flats in Marine Parade is very wide.
There are units transacted at the lower range of $700,000. There are also units which were transacted at more than $900,000.
Factors like level, facing, view and renovation etc affect the pricing of the units.
5room flats in Marine Parade have always been popular.
The location is accessible. It takes only 10 minutes' drive to reach the city and 10 minutes to reach the airport. With the Thomson-East Coast Line (TEL) ready in 2023, it will bring more convenience to residents living here.
Amenities are plentiful. Shopping malls, wet markets, hawker centers, schools etc are all within walking distance. East Coast Park is also within minutes' walk.
Flats in Marine Parade have been upgraded and are very well-maintained.
If you are interested in this flat at Blk 1 Marine Terrace, or looking to buy a unit in Marine Parade, do drop me a whatsapp message so I can place you in my database for new listings preview.
If you are an owner living in Marine Parade and looking to explore plans for your next home, let me share with you the options you can consider and the strategies for Property Wealth Planning.
Hope to see you soon!
About The Author
Vivian is an experienced real estate agent who has been in the industry since 2002.
Over the years, she has transacted numerous property deals including HDB & private properties. She is well-versed in policies and regulations involving the sale and purchase of residential properties. She has also handled many transactions involving complicated situations like contra, divorce, administration/probate cases, and decoupling / part-share purchase.
Vivian is also a mother to 2 boys. Being a real estate mom allows her to spend much time with her children as they were growing up. Both boys are avid footballers representing their schools and clubs. She loves watching their games and hardly misses a game whenever they play.
Vivian is an active real estate salesperson and team leader. Call her at 98577714 for your real estate matters, or if you are looking to join the real estate industry.