Type

Units

Min Area

Price Range

1 BR

872 sqft

S$1.4M

Property Highlights

Condo development with 2 units currently available.
Prices currently start from S$1.4M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$282K on this acquisition.
Located 4 min (350 m) from EW15 Tanjong Pagar MRT Station.

Interested in this property?

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

Icon: Contemporary Apartment Living at Tanjong Pagar

Icon represents a compelling addition to the residential landscape of Tanjong Pagar, situated at the heart of Singapore's dynamic heritage and urban renewal corridor. Located at 10 Gopeng Street, this development capitalises on one of the island's most sought-after residential neighbourhoods, combining walkable neighbourhood character with immediate proximity to crucial transport infrastructure. The project's strategic positioning just 350 metres—approximately a four-minute walk—from EW15 Tanjong Pagar MRT Station positions it as an ideal choice for commuters and investors alike, with seamless connections across the East-West Line to Jurong and Changi destinations.

The neighbourhood surrounding Icon has undergone substantial transformation over the past decade, evolving from a purely industrial quarter into a vibrant mixed-use precinct. Gopeng Street itself has become synonymous with independent retailers, artisanal dining establishments, and creative enterprises, whilst the immediate vicinity retains important heritage shophouses and conservation areas that contribute to authentic urban character. This blend of new development and heritage preservation creates an increasingly desirable living environment for discerning homebuyers who value authenticity alongside contemporary amenities.

Design and Residential Offering

Icon's apartment configurations cater to diverse buyer profiles, from first-time purchasers and young professionals to experienced investors seeking entry into the city-core market. The development features thoughtfully designed units with practical floor plates and contemporary finishes, reflecting current expectations for residential comfort and functionality. With internal areas commencing around 872 square feet across various bedroom counts, each home offers sufficient space for comfortable daily living whilst maintaining the efficiency characteristics increasingly valued by urban dwellers and investors.

The unit mix supports flexible living arrangements, whether for singles, couples, or small families who prioritise location and accessibility over sprawling square footage. This versatility has proven attractive in Singapore's property market, where convenience of location frequently outweighs raw size, particularly within mature planning areas well-served by public transport and local amenities.

Transportation and Urban Connectivity

The proximity to Tanjong Pagar MRT cannot be overstated as a value driver for Icon residents. The East-West Line remains one of Singapore's busiest and most essential transport arteries, connecting the development's occupants directly to the Central Business District, Marina Bay, and extending eastward to Singapore Changi Airport. For daily commuters, this arrangement eliminates lengthy travel times and vehicle dependency, a factor that has consistently influenced property valuations across Singapore's core planning areas.

Beyond the MRT, the Tanjong Pagar precinct benefits from extensive bus connectivity, with multiple service routes covering local and cross-island destinations. The neighbourhood's pedestrian-friendly layout encourages walking and cycling, with dedicated paths linking to the city centre, Clarke Quay, and the Singapore River waterfront. This multimodal transport environment appeals particularly to younger demographics and professionals who value sustainable commuting options.

Neighbourhood Character and Lifestyle

Living at Icon places residents at the confluence of Singapore's most dynamic neighbourhood experiences. Tanjong Pagar has cultivated a reputation as a lifestyle destination, with an exceptional concentration of independent cafés, restaurants, bars, and boutique retail concentrated along Gopeng Street and its adjacent lanes. This authentic, grassroots commercial character distinguishes Tanjong Pagar from more corporate-oriented business districts, creating a genuine sense of community and neighbourhood identity.

The presence of Neil Road, Keong Saik Road, and Cantonment Road within walking distance further extends lifestyle options, encompassing everything from hawker centres serving traditional local cuisine to contemporary dining concepts. The area's cultural heritage is equally pronounced, with numerous conservation buildings housing galleries, museums, and heritage centres that contribute to the neighbourhood's intellectual and creative character.

Market Positioning and Investment Potential

Pricing for Icon units reflects the development's advantageous position within a maturing, highly desirable neighbourhood. At approximately S$1.41 million and upwards depending on configuration, the development competes directly with recent comparable sales across Tanjong Pagar's existing stock, where price per square foot has demonstrated consistent year-on-year appreciation. The locality's established infrastructure, strong transport connectivity, and ongoing urban renewal initiatives support the case for sustained capital value development.

For investors, the Tanjong Pagar rental market remains robust, supported by sustained demand from young professionals, expatriate assignees, and established families seeking inner-city convenience. The development's positioning within walking distance of office clusters in the CBD and Marina Bay creates a natural tenant pool, whilst the neighbourhood's lifestyle credentials appeal to a broader demographic seeking rental accommodation with genuine neighbourhood character.

Leasehold Considerations and Value Retention

Icon operates under leasehold tenure, a standard arrangement for residential developments in Singapore's mature planning areas. Properties at the Gopeng Street location benefit from Singapore's transparent leasehold depreciation framework, and given the district's ongoing regeneration and strong institutional interest in the Tanjong Pagar precinct, lease decay risk remains notably lower than in peripheral locations. The development's central planning area status and MRT proximity provide inherent safeguards against the valuation pressures that affect more remote leasehold properties as lease terms age.

Singapore's residential investment market has historically demonstrated that well-located leasehold apartments in established neighbourhoods retain substantial value even as lease terms progress beyond the mid-century mark. Tanjong Pagar's status as a primary urban centre, coupled with ongoing infrastructure investment and neighbourhood enhancement, positions Icon occupants favourably for long-term asset retention and appreciation.

Development Amenities and Community Features

Icon incorporates facilities and common areas designed to support resident wellbeing and community building. These amenities complement the exceptionally strong surrounding neighbourhood offer, which provides ready access to retail, dining, and entertainment without dependency on internal building facilities. The integration of public and private space in the Tanjong Pagar precinct means that Icon residents enjoy the practical benefits of both dedicated building amenities and the extensive community infrastructure present in this densely developed neighbourhood.

The development's positioning within an established, walkable precinct reduces the necessity for resort-style amenities that characterise suburban or fringe-city developments. Instead, residents have direct access to authentic neighbourhood services and experiences, a factor increasingly valued by property investors and owner-occupiers seeking genuine urban living rather than insulated residential enclaves.

Looking Forward: Icon Within Singapore's Property Market

Icon enters the market at a moment of significant momentum in the Tanjong Pagar precinct, as the neighbourhood consolidates its position as Singapore's premier mixed-use urban village. Institutional investment, heritage preservation initiatives, and continued private development activity all reinforce the location's fundamental appeal. For property purchasers seeking exposure to Singapore's core urban real estate with genuine neighbourhood character, walkable accessibility, and proven capital appreciation potential, Icon represents a compelling residential opportunity aligned with current market trends.

Frequently Asked Questions

What rental yield can investors realistically expect from Icon apartments purchased as an investment property?

Icon's position within the Tanjong Pagar precinct, immediately accessible to Tanjong Pagar MRT Station and surrounded by major CBD office clusters, creates favourable rental demand fundamentals. Recent comparable lettings in the Gopeng Street locality have achieved gross rental yields in the region of 3.5–4.5 per cent annually, depending on unit configuration and finishes, though yields vary considerably based on individual unit location within the building, floor level, and exposure. The development's neighbourhood appeal—characterised by independent dining, retail, and lifestyle amenities—attracts a broad tenant demographic including young professionals, corporate expats, and established families seeking authentic inner-city living, sustaining demand consistency even during weaker market cycles. Investors should model yields conservatively at the lower end of this range and account for property tax, maintenance costs, and potential landlord-funded upgrades to remain competitive in a neighbourhood where aesthetic and functional standards among competing rental stock continue to rise.

How does Icon's pricing per square foot compare to recent comparable sales and lettings in Tanjong Pagar?

Icon's pricing structure aligns closely with recent transaction activity across the Tanjong Pagar precinct, where established apartment blocks and new developments have transacted at price points broadly consistent with the S$1.41 million-plus range for well-configured units. On a price-per-square-foot basis, Icon reflects modest premiums relative to developments located further from Tanjong Pagar MRT Station, a differential that rationally reflects its four-minute proximity and the transport accessibility premium consistently observed across Singapore's leasehold apartment market. Recent comparable sales in adjacent Keong Saik Road and neighbouring conservation-district conversions have achieved similar or marginally higher psf valuations, suggesting Icon is competitively positioned for market uptake. The development's pricing must also be considered within context of broader Tanjong Pagar neighbourhood momentum—heritage preservation efforts, institutional retail investment, and ongoing cultural programming have generated measurable upward pressure on local property valuations over the past three to five years, favouring early purchasers who acquire before such momentum becomes fully reflected in valuations.

What is the Additional Buyer's Stamp Duty (ABSD) impact for Singapore Citizens purchasing Icon as a second residential property?

Singapore Citizens acquiring Icon as a second residential property incur Additional Buyer's Stamp Duty (ABSD) at the current rate of 20 per cent, calculated on the purchase price inclusive of the property's true value. For an Icon purchase at the S$1.41 million level, this represents approximately S$282,000 in ABSD liability alone, significantly elevating the effective purchase cost beyond the quoted price. This duty is payable upon completion and cannot be financed as part of the mortgage—it requires immediate cash settlement—making it a material consideration in purchase affordability modelling and overall investment returns. Second-property purchasers must factor ABSD into their total cost of ownership analysis and ensure financing headroom remains adequate after accounting for this substantial duty. Whilst ABSD can be refunded if the property is subsequently sold and the purchaser retains only one other property, the cash flow impact at purchase remains substantial and warrants careful tax planning consultation with a qualified adviser familiar with individual circumstances.

Does Icon face lease decay risk given its Tanjong Pagar location, and how will remaining lease length affect resale values?

Icon operates under leasehold tenure as is standard for residential developments in Singapore's mature planning areas, and the Gopeng Street location's status as a primary urban centre provides inherent protection against the valuation pressures that disproportionately affect peripheral leasehold properties as lease terms progress. Singapore's residential investment market has demonstrated robust retention of value for well-located leasehold apartments within established urban neighbourhoods, particularly those with strong MRT connectivity and institutional interest—characteristics Icon possesses in abundance. The Tanjong Pagar precinct's ongoing regeneration, heritage preservation initiatives, and continuing infrastructure investment all support the thesis that lease decay risk remains lower here than across outlying areas, as the neighbourhood's fundamentals suggest institutional buyers and long-term owner-occupiers will continue to value these locations even as lease terms extend beyond mid-century. Prospective purchasers should anticipate that, consistent with Singapore market practice, lease length will gradually influence valuation as years accumulate, but Icon's location fundamentally mitigates this risk compared to suburban or fringe-city leasehold stock where similar lease-age effects translate to sharper valuation penalty.

How significant is the four-minute MRT proximity to Icon's long-term capital appreciation and rental demand?

MRT proximity ranks among the most powerful and persistent value drivers in Singapore's residential property market, and Icon's position just 350 metres from Tanjong Pagar Station confers material competitive advantage over developments located beyond convenient walking distance. The East-West Line's status as one of Singapore's busiest and most essential transport arteries means that Icon residents benefit from immediate, reliable access to the CBD, Marina Bay, Jurong, and beyond—a convenience that surveys consistently identify as the primary consideration for owner-occupiers choosing residential locations. This proximity translates directly into rental demand fundamentals, as tenant pools seeking accommodation within the Tanjong Pagar precinct prioritise walk-to-MRT accessibility, and Icon's four-minute walk duration sits well within the threshold where transport convenience meaningfully influences housing choice. Historical analysis of Singapore's property markets demonstrates that developments within 300–400 metres of major MRT stations command consistent valuation premiums relative to comparable stock at greater distances, with capital appreciation trends in such locations outpacing broader market indices during most market cycles, supporting the expectation that Icon's capital growth potential is structurally enhanced by its transport positioning.

Is Icon suitable for first-time homebuyers, upgraders, investors, and HNW purchasers, or does it cater to specific buyer profiles?

Icon's configuration and positioning within Tanjong Pagar create appeal across multiple distinct buyer profiles, though each evaluates the opportunity through different valuation frameworks. First-time buyers appreciate the development's convenience, walkable neighbourhood character, and accessibility to CBD workplaces without the sprawling space commitments typical of suburban developments—though such purchasers must carefully model affordability, as Tanjong Pagar's inner-city positioning naturally commands valuations beyond emerging residential precincts. Upgraders—typically established owner-occupiers trading up from HDB or smaller apartment stock—find Icon particularly attractive for its neighbourhood authenticity and lifestyle amenities that justify moving costs and potential equity realisation. Property investors view Icon through a rental yield and capital appreciation lens, evaluating the development against competing city-core opportunities and peripheral growth zones, with the former favouring locations like Icon where transport accessibility supports both rental demand consistency and valuation resilience. High-net-worth purchasers may find Icon's inner-city positioning and neighbourhood character compelling for personal residence purposes, though such buyers typically evaluate Tanjong Pagar stock within broader portfolio diversification frameworks that include secondary-location investments, estate planning, and legacy considerations. Icon's appeal is notably broad rather than specialised, reflecting its location within Singapore's most diversely appealing neighbourhood.

What is the mortgage financing headroom at Icon's typical price point, and how does TDSR affect borrowing capacity?

Icon purchases at the S$1.41 million level sit comfortably within the parameter ranges where standard residential mortgage financing remains readily available through major Singapore banks, with loan-to-value ratios typically available at 80 per cent for owner-occupiers and 75 per cent for investors. This translates to financing requirements in the region of S$280,000–S$350,000 depending on individual borrowing capacity and down-payment preferences, well within reach for professional purchasers seeking properties in the Tanjong Pagar precinct. The Total Debt Service Ratio (TDSR) framework, which caps debt servicing obligations at 60 per cent of gross monthly income, becomes increasingly constraining for Icon purchasers at higher price points or where existing debt obligations already consume material portions of income capacity—a particularly important consideration for second-property purchasers who must service both mortgage and ABSD from existing cash reserves. Purchasers should undertake detailed affordability modelling with their mortgage advisers, as TDSR calculations typically assume interest rates higher than current prevailing levels, creating headroom for rate normalisation whilst ensuring ongoing serviceability. Professional purchasers with stable employment and documented income typically encounter minimal financing obstacles at Icon's price points, though the development's location makes it increasingly attractive to more marginal borrowers whose TDSR capacity requires careful stress-testing against interest rate scenarios.

What competing developments exist near Icon within Tanjong Pagar, and how does Icon differentiate itself?

The Tanjong Pagar precinct, particularly the Gopeng Street locality, hosts several residential developments across various age cohorts and ownership structures, including heritage conservation conversions, earlier-vintage apartment blocks, and new-release projects, creating a competitive set where Icon must establish distinctive positioning. Nearby existing stock includes established apartments on neighbouring streets and converted conservation shophouses that offer authentic neighbourhood integration but with potentially smaller unit sizes and older building systems—contexts where Icon's contemporary design, modern amenities, and full-service building infrastructure provide material advantages. Competing new-release projects elsewhere in Tanjong Pagar typically trade off neighbourhood walkability and heritage character for larger unit formats and more resort-style amenities, a differentiation where Icon favours those prioritising location convenience over sprawling configurations. Icon's competitive positioning is fundamentally underpinned by its exceptional MRT proximity, which several competing developments cannot match at equivalent walking distances, and its location within the Gopeng Street commercial-cultural precinct rather than within more isolated blocks. For purchasers evaluating Tanjong Pagar opportunities holistically, Icon's differentiation rests on combining contemporary living standards with authentic neighbourhood integration, a positioning that appeals particularly to owner-occupiers and investors valuing lifestyle authenticity over amenity resort functionality.

Are certain floor levels or unit stacks within Icon likely to command superior value retention and capital appreciation?

Within Icon, mid-to-upper floor levels typically command valuation premiums relative to lower floors, a pattern consistent across Singapore's apartment market where elevated units benefit from improved privacy, noise insulation from street-level activity, and enhanced natural lighting—factors particularly important in the Tanjong Pagar precinct where commercial vibrancy generates considerable ambient street-level activity. Units positioned with preferred exposure—typically east and north-facing aspects offering morning light and reduced afternoon heat gain—command measurable premiums relative to west-facing or south-facing alternatives, especially in Tanjong Pagar's climate context. Corner units and those with dual-aspect exposure typically achieve superior resale values relative to comparable single-aspect units on identical floors, a dynamic reflecting purchaser preferences for natural ventilation, light, and perceived spaciousness. Units positioned higher within mid-to-upper-tower portions of Icon likely offer the most robust value-retention profile, combining desirable elevation benefits with escape from any potential noise transmission from immediate street-level commercial activity below, though purchasers should physically inspect unit locations and assess individual building layouts rather than relying solely on floor-level generalisation. Conversely, ground-floor and lower basement-level units, whilst potentially attractive to certain purchaser cohorts, typically show weaker capital appreciation trajectories and softer rental demand, making them less strategically positioned for investors prioritising long-term value growth.

What future housing supply pipeline exists in Tanjong Pagar and surrounding Outram planning areas, and could new supply pressure Icon valuations?

Tanjong Pagar and the broader Outram planning area remain subject to ongoing urban regeneration and development initiatives, with several sites in the intermediate planning phase that could introduce incremental residential supply across the next five to ten years. Singapore's Urban Redevelopment Authority (URA) has identified portions of the broader Tanjong Pagar precinct as renewal opportunity areas, though the presence of heritage conservation designations on numerous buildings constrains new supply to specific identified sites and conversion projects rather than wholesale redevelopment. The Outram area more broadly—encompassing Tanjong Pagar, Keong Saik, and neighbouring blocks—remains fundamentally supply-constrained by heritage protections, limited ground availability, and the URA's deliberate strategy of preserving neighbourhood character, factors that inherently limit the quantum of new supply that could realistically emerge. This supply constraint, relative to sustained institutional and owner-occupier demand for inner-city living, provides structural support for Icon valuations—new supply in the locality is unlikely to be sufficiently voluminous to materially depress capital values or rental yields for well-positioned developments. Investors should therefore approach Icon within a framework acknowledging that the Tanjong Pagar precinct's fundamental scarcity of new-release opportunities supports valuation resilience, with Icon positioned beneficially relative to the broader East-West Line corridor where new supply density is considerably higher in less constrained planning areas.

[For Sale] Icon — From S$1.4M