One Marina Gardens sells 38% of condo units at weekend launch

It is among two launches that have done reasonably well amid cautious sentiment: Observers

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Prime residential project One Marina Gardens sold 38 per cent of its 937 units at an average selling price of $2,953 per sq ft (psf), while Bloomsbury Residences in Media Circle sold 25.1 per cent of its 358 units at $2,474 psf, on the first weekend of sales.

Market watchers said that both project launches have done reasonably well, despite concerns about a trade war and potential global recession intensifying.

The launches came shortly after the US unveiled sweeping tariffs on April 2 in a move expected to significantly impact Singapore's growth.

In comparison, seven major residential projects launched in the first three months of 2025 had an average sales percentage of 71.2 per cent, said Mr Nicholas Mak, chief research officer at Mogul.sg.

The Business Times understands some 863 cheques were collected for One Marina Gardens but, with uncertainty in the air, some buyers chose to stay on the sidelines and wait before they committed to purchasing units.

Huttons Asia's chief executive Mark Yip said: "The on-and-off tariffs created uncertainties and unease, leading to a temporary pullback among a small group of buyers."

One Marina Gardens is the first residential development in Marina South.