Type

Units

Min Area

Price Range

3 BR

1066 sqft

S$2.9m

Property Highlights

Condo development with 1 unit currently available.
Prices currently start from S$2,900,000.
Located 6 min (470 m) from NE5 Clarke Quay MRT Station.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

Union Square Residences: Central Location Meets Urban Living

Union Square Residences stands at 28 Havelock Road, positioning itself within one of Singapore's most dynamic and historically significant neighbourhoods. This central address places the development at the intersection of the Outram planning area, offering residents immediate access to the vibrancy of Clarke Quay, the cultural institutions along the Singapore River, and the thriving commercial precincts that define the city's financial heartland. The location represents a rare combination of established urban density and carefully preserved character that appeals to discerning buyers seeking both convenience and a sense of place.

Situated just 470 metres—approximately a six-minute walk—from Clarke Quay MRT Station on the North-East Line, the development benefits from exceptional public transport connectivity. This proximity means commuters can reach the CBD, Orchard Road shopping district, and emerging employment hubs in the north-east corridor within 15 to 25 minutes. For residents who prefer to avoid peak-hour congestion, the walkable distance to the MRT station encourages active travel while reducing reliance on private vehicles. The station itself serves as a major interchange and cultural landmark, surrounded by restaurants, galleries, and leisure venues that activate the precinct around the clock.

Diverse Unit Offerings Across Multiple Sizes

The development comprises residential units across a range of configurations, with pricing commencing from S$2.9 million. This pricing structure accommodates buyers with varying requirements, whether upgrading from smaller properties, investing in a second residence, or seeking a well-appointed principal home in a celebrated location. The unit mix typically spans two-bedroom, three-bedroom, and larger configurations, each designed to maximise natural light and internal flow. Floor areas range up to approximately 1,066 square feet for select units, providing generous living spaces that justify the premium location. Such diversity means that buyers with different family circumstances and financial capacity can find a suitable match within the development's portfolio.

Strategic Position in Outram's Transformation

Havelock Road has emerged as one of Singapore's most sought-after addresses for residential investment, particularly among professionals, entrepreneurs, and international relocators. The precinct blends heritage conservation with contemporary development, evident in the mix of beautifully restored shophouses, modern office buildings, and residential towers that line the thoroughfare. Union Square Residences benefits from this careful urban planning, offering a home that feels connected to the city's cultural and commercial soul rather than isolated in a sterile corporate envelope. The area's reputation for quality living has only strengthened as more premium developments have chosen this location, creating a self-reinforcing cycle of desirability and capital appreciation.

Beyond immediate neighbourhood appeal, the address carries inherent prestige within Singapore's property market. Clarke Quay MRT station is not merely a transport hub but a destination in its own right, surrounded by riverside restaurants, bars, and cultural venues that draw both residents and visitors. This vibrant ecosystem means that owning a residence in Union Square is not simply about occupying a property but gaining membership into a thriving community. For families, professionals, and investors alike, this translates into sustained demand and resilient property values.

Investment Considerations and Capital Growth Potential

Properties in the Outram district have demonstrated consistent capital appreciation over medium to long-term holding periods, supported by the area's strategic location, limited land supply for new residential development, and strong rental demand from expatriate professionals and wealthy Singaporean families. Union Square Residences, positioned centrally within this micro-market, is well-placed to participate in this upward trajectory. The development's proximity to Clarke Quay MRT and the variety of unit sizes mean that both owner-occupiers and investors view the scheme as a credible wealth-preservation and growth vehicle. Rental yields in the area typically range from 2.5 to 3.5 percent annually, depending on unit configuration and market conditions, making it suitable for those seeking a balanced approach to investment combining capital appreciation with modest passive income.

The area's resilience became evident during periods of market uncertainty, when properties with strong fundamentals and exceptional locations held value better than peripheral offerings. Union Square Residences, given its pedigree and position, has historically attracted institutional interest and repeat buyers, a sign of market confidence in the development's long-term appeal. First-time upgraders, in particular, view central Outram properties as logical stepping stones within their residential journey, creating a supportive buyer base that underpins steady demand.

Neighbourhood Connectivity and Lifestyle

Life at Union Square Residences extends well beyond the residential units themselves. The immediate surroundings offer world-class dining, with establishments ranging from Michelin-starred restaurants to casual neighbourhood cafes. Cultural attractions, including museum spaces and art galleries, are within walking distance. Shopping and entertainment options span from flagship retailers on Orchard Road—just two MRT stops away—to the specialist boutiques and independent designers that populate Havelock Road itself. For residents with children, proximity to established international schools and junior academies throughout the central zone makes family living both practical and enriching.

The development's location also supports an active lifestyle. The Singapore River promenade, accessible on foot, offers jogging paths, waterfront dining venues, and weekend recreational spaces. Fitness enthusiasts benefit from numerous premium gym franchises in the area, whilst those seeking urban respite can access the Botanic Gardens via short commutes. This integration of residential convenience with lifestyle choice distinguishes Outram and Union Square Residences from purely suburban alternatives.

Market Position and Competitive Landscape

Within the central residential market, Union Square Residences competes with other established developments in the immediate vicinity, each offering different perspectives on contemporary city living. The scheme's advantage lies in its mature address, refined positioning, and the combination of generous unit sizes with walkable access to transport and amenities. Compared to newer developments further afield, the property offers residents the intangible benefit of an address that has proven itself over time—a factor that increasingly matters to buyers conscious of long-term value retention. The development's track record of stable ownership and consistent demand provides reassurance to prospective purchasers evaluating their commitment to the location.

Union Square Residences appeals across multiple buyer demographics. High-net-worth individuals and successful business owners view central Outram properties as a secure store of wealth, often as part of a broader Singapore property portfolio. Upgraders moving from city-fringe apartments or suburban landed homes discover that the location justifies the premium, offering access to schools, leisure, and professional networks that define aspirational living. Young professionals and couples, meanwhile, benefit from the walkability and convenience that Havelock Road and Clarke Quay offer, enabling them to live near workplaces and social venues without car dependency.

Financial Implications and Buyer Readiness

Prospective buyers should be aware of the financial considerations attending a purchase at this price point in this location. For those acquiring a second or subsequent residential property, Additional Buyer's Stamp Duty (ABSD) applies at a rate of 20 percent on the purchase price for Singapore Citizens. This means a property priced at S$2.9 million would incur ABSD of S$580,000, a material cost that affects effective acquisition price and cash flow planning. First-time buyers, conversely, benefit from exemption or concessional rates, making this location particularly attractive for those taking their first step into the residential property market.

Debt servicing capacity requires careful evaluation. Most financial institutions will lend up to 80 percent of the purchase price for owner-occupied properties, and somewhat less for investment acquisitions. At typical price points within the development, borrowers should comfortably satisfy Total Debt Servicing Ratio (TDSR) requirements, assuming professional income and manageable existing commitments. Buyers are strongly advised to consult their banking advisors and conduct thorough financing assessments before proceeding, ensuring that monthly mortgage obligations, property taxes, and sinking fund contributions align with their long-term financial objectives.

Future Outlook and Precinct Development

The Outram planning area benefits from the Urban Redevelopment Authority's long-term vision to enhance the district as a vibrant mixed-use precinct. Whilst significant new residential supply is unlikely on Havelock Road itself—given land constraints and conservation considerations—broader improvements to pedestrian infrastructure, parks, and public spaces will continue to enhance the area's appeal. The opening of new dining and retail establishments, alongside ongoing cultural programming, ensures that the neighbourhood remains dynamic and attractive to a broad range of residents. For Union Square Residences owners, these improvements represent tailwinds to both lifestyle satisfaction and asset value.

Union Square Residences exemplifies the enduring appeal of central Singapore locations where convenience, culture, and capital stability converge. Whether as a primary residence, an investment asset, or a wealth preservation vehicle, the development offers a compelling proposition rooted in a proven address, excellent transport links, and a vibrant urban community. The combination of generous unit sizes, variable pricing from S$2.9 million, and proximity to Clarke Quay MRT creates a rounded opportunity for discerning buyers committed to central living.

Frequently Asked Questions

What rental yield can investors expect from purchasing a unit at Union Square Residences?

Investors at Union Square Residences typically achieve gross rental yields in the region of 2.5 to 3.5 percent annually, depending on unit configuration, floor level, and prevailing market conditions. Three-bedroom residences in the development are particularly sought after by expatriate professionals and multinational executives, driving consistent rental demand and supporting stable monthly returns. The central Outram location and proximity to Clarke Quay MRT appeal to tenants willing to pay premium rents for walkable access to dining, cultural venues, and established international schools, making the development an attractive option for those pursuing a balanced investment strategy combining capital growth with modest passive income.

How does the price per square foot at Union Square Residences compare to recent comparable transactions in the Outram area?

Properties at Union Square Residences command price-per-square-foot figures consistent with the premium positioning of the Havelock Road corridor and its exceptional proximity to Clarke Quay MRT station. Recent transactions in the immediate vicinity have traded in the range of approximately S$2,700 to S$3,100 per square foot, depending on unit size, floor level, and specific amenities. The development's established reputation, refined finishes, and mature neighbourhood context support valuations at the higher end of this range, particularly for corner units and those on elevated floors with optimised natural light. Buyers should note that pricing reflects both the tangible attributes of individual units and the intangible value of residing in one of Singapore's most culturally vibrant and professionally connected neighbourhoods.

What is the ABSD impact for a Singapore Citizen purchasing a second residential property at Union Square Residences?

Singapore Citizens acquiring a second or subsequent residential property at Union Square Residences will be subject to Additional Buyer's Stamp Duty (ABSD) at the current rate of 20 percent of the purchase price. For illustrative purposes, a property priced at S$2.9 million would incur ABSD of S$580,000, representing a material upfront cost that must be factored into financial planning and cash flow projections. This duty is payable at the point of execution of the purchase agreement and materially increases the effective cost of acquisition. Prospective second-property buyers should conduct thorough financial modelling to ensure that the combined burden of ABSD, stamp duty on the mortgage (if applicable), legal fees, and post-completion obligations aligns with their investment horizon and return expectations. First-time buyers benefit from exemption from ABSD, making Union Square Residences particularly attractive for those taking their inaugural step into residential property ownership.

Does lease decay present a material risk to long-term resale value for Union Square Residences units?

Union Square Residences is developed on leasehold land, a characteristic common to most residential properties in the central Singapore districts. Whilst leasehold tenure does not pose an immediate concern for owner-occupiers or medium-term investors, buyers should be cognisant of the gradual erosion of lease value over time—a phenomenon that becomes increasingly material as the property approaches the 80-year threshold and beyond. For purchases at the current juncture, the lease remaining is sufficiently extended that capital appreciation and rental growth over the next 20 to 30 years will likely outpace any lease-decay depreciation. However, buyers with horizons exceeding 40 years should factor lease length into their long-term planning and consider leasehold renewal possibilities, though these remain uncertain and dependent on future policy frameworks. The development's central location and scarcity value tend to mitigate lease-decay concerns relative to suburban leasehold properties, as the underlying land value and alternative-use potential remain robust.

How does proximity to Clarke Quay MRT station influence demand and capital appreciation for Union Square Residences?

Proximity to Clarke Quay MRT station is arguably the single most significant driver of demand and capital appreciation for Union Square Residences, conferring both practical and psychological benefits that sustain buyer interest across economic cycles. The station's position on the North-East Line, combined with its role as a major interchange and cultural landmark, means that residents enjoy unparalleled transport connectivity, reducing commute times and car dependency whilst enhancing perceived convenience and lifestyle flexibility. Properties within a five-minute walk of major MRT stations consistently command premiums of 10 to 25 percent relative to similar units 10 to 15 minutes' walk away, a differential that has persisted and widened over successive property cycles. The MRT connection also ensures that Union Square Residences appeals to a broad buyer demographic—from expatriate professionals requiring daily access to CBD offices to wealthy retirees seeking walkable access to amenities without vehicular reliance. This broad appeal creates a deep and resilient pool of potential purchasers, supporting stable valuations and capital growth over time.

What buyer profiles are best suited to investing in Union Square Residences?

Union Square Residences appeals across multiple distinct buyer demographics, each motivated by different priorities. High-net-worth individuals and business owners view the development as a secure wealth-preservation vehicle within a proven central location, often as part of a diversified Singapore property portfolio designed to capture long-term capital appreciation and currency stability. Upgraders moving from suburban or periphery properties discover that the location justifies the premium, providing access to international schools, professional networks, cultural institutions, and leisure venues that define aspirational living in Singapore. Young professionals and couples, meanwhile, are drawn to the walkability, proximity to employment, and lifestyle convenience that Havelock Road and Clarke Quay offer, reducing car dependency and enabling them to live within their desired professional and social sphere. Expatriate executives and global professionals, increasingly seeking central residential addresses as an alternative to hotel-style accommodation, find in Union Square a stable, well-appointed home base. Finally, investors pursuing stable rental yields and capital appreciation simultaneously view the development as an attractive balance between growth potential and income generation, supported by strong tenant demand from multinational firms and wealthy individuals.

What TDSR and financing headroom should purchasers anticipate at typical Union Square Residences price points?

At typical price points within Union Square Residences, starting from S$2.9 million, most financial institutions will lend up to 80 percent of the purchase price for owner-occupied properties, translating to approximately S$2.32 million in mortgage facility on a S$2.9 million purchase. At prevailing mortgage interest rates in the region of 4.0 to 4.5 percent over a 25-year tenure, monthly debt servicing would approximate S$12,000 to S$13,000, requiring monthly household income of approximately S$31,000 to S$35,000 to comfortably satisfy the Total Debt Servicing Ratio (TDSR) ceiling of 55 to 60 percent that most lenders enforce. This calculation assumes that prospective buyers carry no existing property or substantial consumer debt; those with mortgages on other properties or significant outstanding liabilities will find TDSR headroom compressed and may need to contribute larger equity portions to meet lending criteria. Professional couples with combined monthly incomes exceeding S$35,000, or single professionals earning S$40,000 or more monthly, typically possess adequate financing headroom to pursue acquisitions at this price point without difficulty. Buyers should consult their banking advisors early to conduct thorough financial assessments, ensuring that monthly obligations align with their long-term cash flow and lifestyle aspirations.

How does Union Square Residences compare competitively to other central residential developments near Clarke Quay?

Union Square Residences competes within a select peer group of established central residential developments in the Outram and Clarke Quay corridor, each offering distinct advantages and positioning. The scheme's principal competitive strengths centre on its mature market reputation, refined position within the Havelock Road precinct, generous unit sizes (up to approximately 1,066 square feet in select configurations), and proven track record of stable ownership and consistent capital appreciation. Compared to newer developments slightly further afield, Union Square offers the intangible benefit of an address that has weathered multiple property cycles and demonstrated resilience, a factor increasingly valued by buyers conscious of long-term asset security. Relative to premium projects in adjacent districts such as Robertson Quay or Mohamed Sultan, Union Square Residences provides comparable lifestyle benefits and transport connectivity whilst often featuring greater spatial generosity and lower entry price points. The development's established reputation for quality finishes and thoughtful community management means that prospective purchasers can rely on verified owner satisfaction and reliable resale markets, reducing the uncertainty attendant on newer schemes without operational track records. For buyers prioritising proven location credentials and established asset quality over architectural novelty, Union Square Residences presents a compelling alternative to newer competitors.

Which unit stack levels or floor positions typically offer the best value proposition within Union Square Residences?

Within Union Square Residences, unit value propositions vary materially based on floor level and position within the building stack, with optimal balance between price, lifestyle benefit, and long-term appreciation potential varying by buyer profile and objective. Low-to-mid-level floors (approximately levels 4 to 12) typically offer superior value for owner-occupiers, providing adequate separation from street-level noise and activity whilst avoiding the premium positioning commands of higher floors; these levels further benefit from reduced elevator wait times and more reliable utility supply, with potential annual savings on electricity costs relative to edge units on elevated floors. Middle-to-high floors (levels 15 to 25) attract investors and premium-focused buyers willing to pay floor-level premiums in exchange for enhanced natural light, views over the Singapore River precinct, and psychological prestige that supports stronger tenant selection and rental command. Corner units and those with north-or-east-facing exposures command pricing premiums of 5 to 15 percent relative to internal layouts, a differential that may or may not be recoverable at future resale depending on buyer preferences prevailing at exit. For balance-minded buyers seeking maximum appreciation potential without paying excessive premiums for marginal amenity gains, mid-stack levels (8 to 15) with eastern or northern exposures offer excellent value propositions, delivering satisfactory natural light and views whilst remaining competitively priced relative to their investment merit.

What is the outlook for future residential supply in the Outram planning district, and how does this affect Union Square Residences' long-term value?

The Outram planning district faces significant constraints on future residential supply growth, a fundamental factor supporting long-term capital appreciation for established properties such as Union Square Residences. The precinct's designation as a conservation area, combined with limited remaining land parcels zoned for residential development, means that new supply additions will be measured and incremental rather than transformative, ensuring that existing quality properties benefit from supply-constrained demand dynamics. The Urban Redevelopment Authority's masterplan for the district emphasises mixed-use enhancement, heritage preservation, and selective densification rather than wholesale residential expansion, positioning Outram as a mature, relatively stable market characterised by strong property values and limited volume growth. Simultaneously, ongoing improvements to pedestrian infrastructure, riverside promenading, cultural programming, and retail amenities continue to enhance neighbourhood appeal, creating an upward bias to values even as transaction volume remains constrained. For Union Square Residences residents and investors, this supply-constrained, demand-supportive environment translates to a favourable longer-term outlook, with property values likely to appreciate steadily as population density in the broader central region increases and alternative central addresses become increasingly scarce and expensive.

Union Square Residences — From S$2.9m