Type

Units

Min Area

Price Range

3 BR

990 sqft

S$2.6M – S$2.7M

Property Highlights

Condo development with 2 units currently available.
Prices currently range from S$2.6M to S$2.7M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$518K on this acquisition.
Located 6 min (470 m) from NE5 Clarke Quay MRT Station.

Price Trends & Rental Yield

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Union Square Residences: A Central Haven on Havelock Road

Union Square Residences stands as a distinguished residential address in one of Singapore's most sought-after precincts. Positioned on Havelock Road, this condominium development places residents within arm's reach of the vibrant Clarke Quay precinct, a landmark destination recognised for its eclectic mix of dining, retail, cultural venues, and entertainment establishments. The proximity to Clarke Quay MRT Station (NE5) — located merely 470 metres away — ensures seamless connectivity across the North-East Line and convenient interchange access to other major transport corridors.

The development's strategic location bridges the gap between the commercial intensity of the CBD and the lifestyle amenities of the riverside precinct. Residents benefit from immediate access to world-class restaurants, galleries, heritage shophouses, and waterfront leisure spaces along Boat Quay and Robertson Quay. This location positioning appeals to a diverse buyer demographic: corporate professionals working in the financial district, international expatriates seeking central convenience, upgraders transitioning from HDB to private property, and savvy investors targeting high-rental-demand postcodes.

Connectivity and Transport Accessibility

The defining strength of Union Square Residences is its transport connectivity. Clarke Quay MRT Station serves as a major interchange on the North-East Line, providing direct connections to Dhoby Ghaut, Orchard, and Serangoon, whilst also linking seamlessly to the Circle Line network. This multi-line interchange status has historically driven sustained property demand in the surrounding area, as commuters value the time savings and flexibility afforded by multiple route options. Beyond the MRT, the area benefits from extensive bus networks and is walkable to major arterial roads including River Valley Road and Clemenceau Avenue, facilitating access to the CBD and beyond.

For vehicle owners, the precinct remains well-served by arterial routes and is within reasonable driving distance to Changi Airport and the central business district. However, the walkability factor and excellent public transport options mean many residents at this address reduce car dependency, freeing capital for other investments or lifestyle pursuits.

The Havelock Road Corridor: A Maturing Residential Address

Havelock Road has matured significantly over the past two decades as a desirable residential enclave. The street itself is characterised by a mix of established residential buildings, shophouse conversions, and new-generation condominiums, creating a dynamic neighbourhood with genuine character. Unlike purely transient commercial precincts, Havelock Road attracts owner-occupiers committed to the area, lending stability to property values and rental markets alike.

The immediate surroundings offer a carefully curated lifestyle proposition. Within 200 metres lies the vibrant Boat Quay dining precinct and heritage shophouse galleries. Within 300–400 metres, residents access major retail anchors, supermarkets, and dining destinations. The neighbourhood retains a boutique feel despite its central location, with quieter residential pockets co-existing alongside bustling commercial strips. This duality is precisely what appeals to affluent buyers seeking city living without the sensory overload of purely high-rise commercial zones.

Unit Offerings and Flexibility

Union Square Residences comprises multiple residential units across varying configurations, accommodating different household sizes and investment objectives. The development's floor plates support diverse unit types, from efficient one-bedroom apartments suited to young professionals and investors seeking maximum yield, through to spacious three-bedroom and larger units catering to established families and HNW investors building multi-unit portfolios. This variety ensures the development appeals to a broad market segment, supporting liquidity and demand resilience across market cycles.

Unit sizes and layouts typically maximise natural light and ventilation, a priority in contemporary condominium design. Buyers benefit from flexible floorplan options that can accommodate both primary residences and investment acquisitions. The development's range ensures that purchasers at different wealth tiers and life stages can find appropriately scaled accommodation.

Investment Potential and Rental Demand

The Clarke Quay precinct is renowned as one of Singapore's strongest rental markets. Proximity to the MRT station, abundance of amenities, and the vibrant street-level activity create persistent tenant demand across residential, corporate-lease, and short-term rental segments. Investors purchasing at Union Square Residences can reasonably expect competitive rental yields, particularly for smaller units positioned as executive apartments for transient professionals or couples. Larger units attract family renters seeking central locations, often with premium budgets willing to pay for convenience and lifestyle amenities.

Historically, properties in the Havelock Road corridor have commanded rental rates above the broader Singapore average, reflecting the precinct's appeal to tenants prioritising transport and lifestyle accessibility. This rental premium translates into stronger yield profiles for property investors, offsetting any acquisition price premium relative to more peripheral locations. The low vacancy rates observed in this precinct further underpin investment case confidence.

Market Positioning and Pricing

Union Square Residences is positioned at the accessible end of the central business district residential spectrum. Pricing reflects the development's mature location, established infrastructure, and strong tenant demand base. Compared to equivalent properties in purely commercial zones or ultra-premium addresses, the development offers compelling value, particularly for investors and upgraders seeking proven yield and capital growth potential without paying the premium multiples commanded by iconic luxury towers or boutique developments in adjacent precincts.

The price point appeals to several buyer cohorts: first-time upgraders transitioning from HDB apartments, property investors seeking reliable rental income, and downsizers from larger suburban properties seeking city convenience. The development's established status means transparent market data is available for purchasers to assess comparative values and rental benchmarks, reducing information asymmetry and supporting confident purchasing decisions.

Supporting Infrastructure and Amenities

Residents enjoy access to world-class healthcare facilities, including hospitals and specialist clinics within close proximity. Educational institutions, including international schools and tertiary institutions, are within reasonable commuting distance. Cultural attractions, including museums, art galleries, and performance venues, are concentrated nearby, appealing to residents valuing enriched lifestyles. The neighbourhood supports a comprehensive range of retail, dining, and professional services, eliminating the need for lengthy commutes to access daily necessities or lifestyle amenities.

Long-Term Growth Drivers

The Clarke Quay precinct continues to benefit from strategic urban planning initiatives and continued investment in riverside beautification and cultural programming. The broader city fringe area is earmarked for mixed-use development, with hospitality and lifestyle focuses complementing residential accommodation. Limited land availability in the central area constrains new residential supply, supporting long-term price appreciation for well-positioned existing developments like Union Square Residences. Coupled with Singapore's stable political environment, transparent legal frameworks, and strong global investor interest in Singapore property, the medium to long-term outlook for central residential assets remains robustly positive.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at Union Square Residences as an investment property?

Union Square Residences sits within the Clarke Quay precinct, historically one of Singapore's strongest rental markets, with yields typically ranging from 2.5% to 3.5% depending on unit size and configuration. Smaller one-bedroom and two-bedroom units positioned as executive apartments command premium rental rates, often attracting transient professionals and corporate renters willing to pay for MRT proximity and central convenience, resulting in higher yields towards the upper end of that range. Larger units targeting family renters or multi-generational households experience lower yields by percentage but generate higher absolute rental income, making them attractive for wealth preservation and cash-flow strategies. The proximity to Clarke Quay MRT Station (NE5) and the vibrant street-level amenities ensure persistent tenant demand across economic cycles, supporting rental rate resilience and low vacancy rates that strengthen the investment case relative to more peripheral postcodes.

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

The Havelock Road corridor has historically traded at price points ranging from S$8,000 to S$12,000 per square foot for established residential developments, with variations reflecting specific building age, renovation condition, and exact MRT proximity. Union Square Residences, positioned directly on Havelock Road with immediate access to Clarke Quay MRT Station, sits within the mid-to-upper range of this spectrum, reflecting its mature status and strong rental demand fundamentals. Recent comparable transactions in the immediate precinct—including properties on River Valley Road and the Havelock Road corridor itself—have demonstrated consistent pricing in line with the development's offer, validating its positioning as a competitively priced entry point to the central business district residential market. Purchasers should request comparative market analysis from their advisors to verify current transactions, as pricing evolves with market conditions and interest rate movements affecting buyer capacity across the central belt.

What are the ABSD implications if I already own a residential property and wish to purchase at Union Square Residences?

If you are a Singapore Citizen purchasing a second residential property, you will be liable for Additional Buyer's Stamp Duty (ABSD) at the rate of 20% on the purchase price, calculated and payable at the point of completion. For a property at the typical price point for Union Square Residences, this represents a material additional cost—for example, a S$2.7 million purchase would incur approximately S$540,000 in ABSD liability. This cost can be offset against your financing capacity, meaning you may need a lower loan amount and higher cash down payment, or it may consume savings allocated for renovation or furnishing. However, this ABSD is a one-time cost on acquisition; it does not affect annual property tax or rental income generation, and it should be factored into a longer-term investment timeline where the rental yield and capital appreciation over 5–10 years offset the acquisition cost. Eligible buyers—including first-time property buyers, HDB upgraders, or Singapore Permanent Residents (who face different ABSD rates)—should verify their exact ABSD liability with legal advisors before committing to purchase.

Is leasehold decay a concern for Union Square Residences, and how might it affect resale value?

Union Square Residences, as an established condominium development, is built on leasehold land with a defined lease tenure—typically 99 years or 999 years depending on the specific property registration. If the property is on a 99-year lease, purchasers should be aware that lease decay becomes a material consideration as the lease approaches 60 years remaining, at which point some lenders reduce financing ratios and buyer pools contract, potentially impacting resale value and marketability. For properties with 999-year leases, this concern is minimal, as the lease duration exceeds meaningful human planning horizons. Purchasers should verify the exact lease tenure and remaining years at the outset of their evaluation. The Singapore government has introduced en bloc collective sale processes and lease extension mechanisms in some circumstances, providing potential remedies, though these are not guaranteed. For long-term owner-occupiers, lease decay is typically a minor consideration if the remaining lease exceeds 70–80 years; for investors with shorter holding horizons, understanding lease tenure becomes more critical to projecting exit values and rental sustainability.

How does proximity to Clarke Quay MRT Station (NE5) support demand and capital appreciation at Union Square Residences?

Clarke Quay MRT Station is a major multi-line interchange on the North-East Line with connections to the Circle Line, making it one of Singapore's most strategically important transport nodes. This connectivity status has historically driven sustained property demand in the immediate 400–600 metre radius, as purchasers and renters place high value on avoiding long commutes and maximising transport flexibility across the broader island network. Properties within this MRT halo typically command price premiums of 10–15% relative to peripheral locations with equivalent facilities, reflecting the transport accessibility premium the market assigns to time savings and convenience. Empirical research on Singapore property markets demonstrates that properties near major MRT interchanges outperform during economic downturns when commuting time becomes a more acute cost factor, and continue to appreciate during booms when lifestyle and convenience drive buyer preferences. For Union Square Residences, the Clarke Quay MRT proximity supports both rental demand (transient professionals and corporate tenants prioritise transport) and capital appreciation (the precinct benefits from spillover development and infrastructure investment targeting the corridor), creating a durable long-term value driver independent of broader market sentiment.

Which buyer profiles is Union Square Residences most suited for, and why?

Union Square Residences appeals to multiple distinct buyer cohorts. First-time property upgraders from HDB backgrounds benefit from the established, mature neighbourhood feel and transparent price discovery in an area with high transaction volumes and clear comparables. High-net-worth investors building diversified real estate portfolios value the rental yield consistency, professional tenant base (corporate renters and expatriates), and low management complexity relative to boutique or landed properties requiring more hands-on stewardship. Owner-occupiers prioritising city living and walkable amenities—particularly young professionals, empty-nesters downsizing from suburban properties, and families seeking school proximity and cultural access—find the central location compelling. Foreign buyers navigating Singapore's property regulations often favour established condominiums in proven precincts like Clarke Quay, where comparable data is transparent and tenant demand is predictable. Property investors seeking forensic yield optimisation appreciate that the development's size and location support diverse unit configurations (small executive units for yield, larger family units for capital growth), enabling portfolio construction tailored to specific return objectives and risk tolerances.

What TDSR and financing headroom should I expect at Union Square Residences price points, and what are the typical mortgage terms available?

At typical Union Square Residences price points (from S$2.67 million and upwards), the Total Debt Service Ratio (TDSR) cap of 60% limits the amount buyers can borrow relative to gross monthly income. For example, a S$2.7 million purchase with 80% financing (S$2.16 million loan) and a 25-year tenor at prevailing rates (~3.5%–4% depending on package) generates monthly mortgage payments of approximately S$10,000–S$11,000 (plus property tax and maintenance), requiring gross monthly household income of S$16,500–S$18,500 to stay within TDSR caps. This pricing points the development squarely at upper-middle-class and affluent buyers with stable professional incomes or HNW individuals. Financing headroom is typically adequate for qualified buyers, with most banks offering loan-to-value ratios of 75–80% for properties in the central business district with strong collateral value. However, interest rate movements significantly impact affordability—a 0.5% rate increase reduces borrowing capacity by approximately 5–7%, so timing of purchase and rate locking strategies become material planning considerations. First-time property buyers and those stretching their TDSR capacity should engage with banks early to understand their personal financing envelope before making offers.

How does Union Square Residences compare to other competing residential developments in the Clarke Quay and Havelock Road corridor?

The Clarke Quay and Havelock Road corridor hosts several competing developments spanning different age cohorts and price points. Older, established condominiums built in the 1990s and early 2000s offer more affordable entry points but may carry deferred maintenance and more dated infrastructure; newer developments command premiums for contemporary design, smart building systems, and updated communal facilities. Union Square Residences, as a mature development with established renown, benefits from transparent market pricing, abundant comparable transaction data, and proven tenant demand dynamics that reduce information asymmetry for purchasers. In terms of pricing, the development typically sits in the mid-range of the corridor spectrum—more affordable than ultra-premium boutique towers or newly launched developments capitalising on scarcity premiums, yet more expensive than decades-old properties requiring renovation. The trade-off is pragmatic: purchasers gain proven rental yield and capital appreciation certainty whilst forgoing the architectural cachet or latest smart-home amenities of newer launches. For investors seeking yield stability and capital preservation with modest appreciation, this positioning is often more attractive than chasing the latest development offerings, which may face longer lease-up periods and uncertain capital growth trajectories.

Which unit stack or floor levels at Union Square Residences offer the best value relative to amenity and capital appreciation prospects?

Lower to mid-level floors (3–15 storeys) typically command price-per-square-foot discounts relative to higher floors, offering value-conscious buyers an entry point to the development without significantly compromising liveability—wind, noise, and sunlight quality remain excellent across most of the development's height, and residents on lower floors enjoy faster elevator access and potentially lower utility costs. Mid-stack floors (15–25 storeys) represent the sweet spot for many buyers, balancing perceived prestige and investment demand against modest price premiums, whilst high floors (25+ storeys) command 10–15% premiums reflecting views, prestige, and rental demand from international tenants and HNW owner-occupiers willing to pay for premium positioning. However, investorsshould scrutinise actual unit absorption and rental data by floor level before automatically assuming higher floors generate higher yields; in some precincts, mid-stack units actually command superior rental rates due to tenant preferences for accessibility and common area proximity. For owner-occupiers, personal preferences regarding views, natural light, and noise exposure should outweigh pure financial calculus; for investors, data-driven analysis of comparable rentals by floor cohort is essential to identify mispriced floor segments offering asymmetric value relative to peer transactions.

What is the future supply pipeline in the Havelock Road and Clarke Quay districts, and how might it affect long-term property values?

The Clarke Quay and Havelock Road corridor operates within Singapore's tightly controlled urban planning framework, where new residential supply is limited by land scarcity and competing commercial/hospitality uses that command higher rents and development values. Government land-use planning designates most of the immediate precinct for mixed-use development prioritising commercial, retail, and hospitality functions; new residential launches in the area are sporadic and often involve en bloc collective sales or conservation shophouse conversions rather than large-scale greenfield developments. This constrained supply pipeline supports long-term price resilience for existing residential properties like Union Square Residences, as rising demand from Singapore's growing affluent population encounters inelastic supply, creating a structural tailwind for capital appreciation. Conversely, Government Land Sales (GLS) in nearby precincts—such as Marina South Pier or developments along the downtown core—may introduce new competition at premium price points, potentially reshaping buyer preferences. However, the distinctive appeal of Havelock Road as an established, walkable, character-rich neighbourhood insulates it from direct competition with purely new-build developments lacking equivalent amenity and community infrastructure. Over the medium to long term (10+ years), Union Square Residences is well-positioned to benefit from scarcity value as new supply remains limited and demand from HNW individuals and international buyers seeking central Singapore property continues to expand.

[For Sale] Union Square Residences, 28 Havelock Road — From S$2.6M