Type

Units

Min Area

Price Range

3 BR

1238 sqft

S$2.6M

Property Highlights

Condo development with 1 unit currently available.
Prices currently start from S$2.6M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$510K on this acquisition.
Located 8 min (680 m) from CC8 Dakota MRT Station.

Price Trends & Rental Yield

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The Waterina: Modern Living in Geylang

The Waterina stands as a residential development offering contemporary apartments in one of Singapore's most vibrant and well-established neighbourhoods. Situated at 67 Lorong 40 Geylang, the project presents an attractive proposition for owner-occupiers, upgraders, and savvy investors seeking exposure to a mature residential enclave with strong fundamentals and excellent transport links.

The development's location along Lorong 40 places residents within a thriving mixed-use district characterised by diverse residential communities, established F&B options, and accessible neighbourhood retail. This positioning reflects Geylang's enduring appeal as a neighbourhood that combines affordability with genuine livability, underpinned by decades of residential consolidation and infrastructure investment.

Transport Connectivity and Accessibility

Proximity to Dakota MRT Station on the Circle Line (CC8) represents a defining locational asset for The Waterina. At approximately 8 minutes' walking distance—roughly 680 metres—the station provides residents with rapid connectivity to central business districts, educational institutions, and tertiary healthcare facilities across the island. Circle Line commuters can reach Marina Bay and Raffles Place within 15–20 minutes, whilst connections to the broader MRT network via interchange stations remain equally fluid.

This accessibility directly influences capital appreciation trajectories and rental demand. Developments situated within 10 minutes of an MRT station consistently command premium valuations and maintain stronger tenant interest, particularly among young professionals and small families who prioritise commute efficiency. The Dakota station positioning therefore underpins both investment resilience and everyday lifestyle convenience for residents of The Waterina.

Unit Offerings and Space Standards

The Waterina delivers residential units across a range of configurations designed to accommodate different household compositions and lifestyle needs. Units at the development are generously proportioned, with gross floor areas extending well into four figures, allowing for functional living arrangements that incorporate separate zones for rest, work, and entertainment. This spatial generosity reflects contemporary expectations for residential comfort, particularly among upgraders transitioning from smaller units or those seeking dedicated home office capability.

The variety of layouts available ensures that buyers can select configurations aligned with their specific requirements, whether prioritising bedroom counts, open-plan kitchen integration, or secondary living spaces. This flexibility in offering strengthens the development's appeal across multiple buyer segments and supports sustained tenant demand for rental units.

Investment and Rental Yield Potential

As a development situated in a mature residential neighbourhood with robust underlying demand, The Waterina presents meaningful rental yield opportunities for portfolio-building investors. Geylang's established status as a residential locality with mixed-income demographics and strong tenant supply from both local workers and expatriate communities supports competitive achievable rents. Units at the development benefit from straightforward tenant sourcing pathways and historically stable occupancy rates typical of the wider district.

Estimated gross rental yields for residential apartments in comparable Geylang-proximate locations typically range between 3.5% and 4.5% annually, depending on unit configuration and exact positioning within the estate. These yields reflect a combination of the neighbourhood's established rental demand, relatively modest entry price points compared to central and eastern districts, and the stability associated with mature residential precincts. Investors purchasing units at The Waterina should model rental income conservatively, accounting for maintenance contributions, property tax, and periodic vacancy allowances, yet remain optimistic about medium-term yield realisation given the neighbourhood's fundamentals.

Pricing and Comparative Market Context

The Waterina's pricing reflects competitive positioning within the Geylang residential market. Per-square-foot transaction data across Lorong 40 and the surrounding streets indicates prevailing rates in the region of S$2,000–S$2,200 per square foot for established residential stock, with newer developments commanding modest premiums reflecting improved finishes and contemporary amenity offerings. The development's asking prices align logically with these benchmarks, suggesting fair value positioning relative to recent comparable transactions.

Buyers evaluating The Waterina should contextualise pricing against both district-wide data and competing developments within the same precinct. The neighbourhood's established infrastructure, mature tenant base, and circle-line connectivity provide objective justification for pricing that sits comfortably within historical range parameters. This transparency supports confidence in the investment thesis for both owner-occupiers and portfolio investors.

Suitability Across Buyer Profiles

The Waterina appeals to distinctly different buyer cohorts for substantively different reasons. First-time buyers seeking to enter the residential property market in a stable, accessible neighbourhood will find the development's pricing and location offering genuine value, coupled with uncomplicated exit opportunities should circumstances change. Upgraders from smaller HDB flats or condominium apartments will appreciate the spacious unit layouts and mature neighbourhood environment that feels established rather than pioneering.

High-net-worth individuals may view The Waterina as part of a broader residential portfolio strategy, leveraging the neighbourhood's rental demand and the development's location accessibility to achieve diversified exposure across multiple price points and geographies. Investors focused on yield generation will respond to the combination of achievable rents, moderate acquisition costs, and neighbourhood stability that characterises Geylang residential markets. Each buyer segment finds distinct value propositions embedded in the development's positioning.

Financing and TDSR Implications

The Waterina's pricing trajectory—with entry points around S$2.55 million—places units within reach of owner-occupiers pursuing HDB-to-private transitions or upgraders downsizing from larger landed properties. Mortgage lending against units at this price point typically assumes Loan-to-Value (LTV) ratios of 75–80%, supported by the development's location and established market comparables. For a S$2.55 million purchase with 80% LTV, buyers would require approximately S$510,000 in equity, with the balance financed at prevailing mortgage rates.

Total Debt Service Ratio (TDSR) headroom becomes material for most purchasers. Assuming a 3.5% mortgage rate, the annual debt servicing obligation on an S$2.04 million loan would approximate S$110,000, or roughly S$9,200 monthly. For household incomes of S$25,000 monthly, this commitment occupies approximately 36.8% of TDSR capacity, leaving meaningful headroom for existing commitments and future financial flexibility. Buyers should engage directly with mortgage brokers or their banks to confirm exact financing parameters, as interest rate environments and personal credit profiles significantly influence achievable terms.

Additional Buyer's Stamp Duty and Tax Implications

Singapore Citizens purchasing The Waterina as a second residential property will incur Additional Buyer's Stamp Duty (ABSD) at 20% of the purchase price, calculated on the transaction value. For a S$2.55 million unit, this equates to S$510,000 in ABSD liability, payable at the point of execution. This represents a material cost component that requires explicit factoring into total acquisition expense. Foreign investors and permanent residents face different ABSD rates; buyers should confirm their residency classification before committing to financial planning.

Property tax on residential apartments in Geylang typically ranges between 0.08% and 0.12% of annual value, calculated based on HDB valuation schedules. Annual property tax obligations for The Waterina units would therefore approximate S$2,040–S$3,060 annually for a S$2.55 million unit, alongside mandatory sinking fund contributions ranging from S$150–S$200 monthly depending on block size and amenity scope. These recurrent costs should be incorporated into investment modelling and budgeting exercises.

Neighbourhood Character and Amenities

Geylang as a residential locality offers genuine convenience and amenity density. The neighbourhood accommodates supermarkets, traditional hawker centres, contemporary dining establishments, and neighbourhood shopping facilities within walkable distances. Healthcare services including polyclinics and private medical practices sit comfortably within the precinct, whilst primary and secondary schools serving diverse academic pathways operate throughout the district. This amenity ecosystem supports both owner-occupier lifestyle satisfaction and tenant retention for investors.

The Dakota MRT connection amplifies neighbourhood appeal by enabling rapid access to centralised cultural, entertainment, and shopping destinations whilst maintaining local residential character. This balance—between neighbourhood self-sufficiency and broader connectivity—characterises Geylang's enduring residential appeal and explains persistent buyer interest across income levels and residential profiles.

Future Supply and Market Evolution

Geylang's residential pipeline reflects established neighbourhood consolidation rather than extensive redevelopment activity. Most housing supply in the immediate vicinity comprises HDB flats undergoing gradual refurbishment or private condominium developments competing for similar buyer cohorts. This moderate pipeline intensity supports pricing stability and sustained rental demand, as neighbourhood supply dynamics remain balanced rather than oversupplied. Investors evaluating The Waterina can expect relatively contained future competition from new residential launches, reducing risks of value dilution from excessive neighbourhood supply growth.

The district's zoning and land-use patterns suggest continued focus on residential and neighbourhood retail uses rather than large-format commercial or industrial development. This planning context provides confidence in neighbourhood character preservation and the residential amenity retention that underlies buyer and tenant satisfaction.

Lease Tenure and Long-Term Value Retention

The Waterina units are offered on established lease terms reflecting Singapore residential property conventions. Buyers should confirm exact lease duration during legal due diligence, as tenure structures (freehold or long-term leasehold) significantly influence long-term value trajectories and future marketability. Properties with leases exceeding 99 years typically face minimal lease decay concerns over 20–30 year holding periods, whilst shorter-tenure properties merit conservative valuation assumptions as lease expiry approaches in later decades.

Geylang's established neighbourhood status and general lack of large-scale redevelopment pressure suggest that long-term resale demand will remain robust regardless of lease duration, provided the development maintains physical condition and the neighbourhood retains residential vitality. Buyers should nonetheless review lease documentation carefully and factor tenure implications into multi-decade financial planning.

Frequently Asked Questions

What rental yield can I realistically expect if I purchase a unit at The Waterina as an investment?

Geylang-area residential apartments typically achieve gross rental yields between 3.5% and 4.5% annually, depending on unit size and exact positioning. For a S$2.55 million unit, this suggests annual rental income of approximately S$89,250–S$114,750 gross. However, investors must deduct sinking fund contributions (approximately S$1,800–S$2,400 yearly), property tax (S$2,040–S$3,060), and allowances for periodic vacancy or maintenance costs. Net yields after these deductions typically settle between 2.8% and 3.5%, making The Waterina appealing as part of a diversified portfolio rather than a high-yield specialist investment. Rental demand in Geylang remains steady due to the neighbourhood's established residential character, proximity to employment hubs via Dakota MRT, and mixed-income community composition that attracts both local and expatriate tenants.

How do The Waterina's prices compare to recent per-square-foot sales in Geylang?

Recent arm's-length transactions across Lorong 40 and surrounding Geylang streets indicate prevailing per-square-foot rates of S$2,000–S$2,200 for established residential units, with newer developments commanding modest premiums of 5–10% reflecting improved finishes and contemporary specifications. The Waterina's pricing aligns competitively within this benchmark range, suggesting fair-value positioning relative to recent comparable transactions. Buyers evaluating units here should verify exact psf pricing against their own research into district comparables, as transaction timing, unit condition, and exact floor positioning create minor variance around district-wide averages. The neighbourhood's mature infrastructure, stable tenant base, and circle-line connectivity provide objective support for pricing that sits comfortably within historical range parameters, instilling confidence in the transaction's fairness for both owner-occupiers and portfolio investors.

What is the Additional Buyer's Stamp Duty (ABSD) implication if I'm purchasing The Waterina as a second property?

Singapore Citizens purchasing The Waterina as a second residential property incur Additional Buyer's Stamp Duty at 20% of the purchase price. For a S$2.55 million unit, this equates to S$510,000 in ABSD liability, payable upon execution of the contract. This represents a substantial cost that must be incorporated into total acquisition budgeting and financing calculations. The 20% rate applies specifically to second residential properties owned by Singapore Citizens; foreign investors and permanent residents face different ABSD treatment and should confirm their exact liability with legal advisors. Beyond ABSD, first-time buyers of any citizenship are exempt from these duties, whilst subsequent purchases trigger progressively higher ABSD bands. Buyers should engage conveyancing solicitors to model exact duty liabilities before committing to purchase, as ABSD substantially influences the true cost of acquisition and return-on-investment calculations for property portfolios.

What lease decay risk should I consider for The Waterina, and how does this affect resale value?

The Waterina's lease tenure structure—which buyers must confirm during legal due diligence—critically influences long-term resale value and marketability. Properties with leases exceeding 99 years face minimal lease decay concerns over 20–30 year holding periods, as lease expiry remains a distant consideration. However, as leases approach 80–90 years from expiry, mortgage lending criteria tighten, tenant demand softens, and achievable valuations compress due to finite remaining utility. Geylang's established neighbourhood status and lack of large-scale redevelopment pressure suggest robust long-term resale demand will persist regardless of lease duration, provided the development maintains physical standards and the neighbourhood retains residential vitality. Investors should nonetheless model conservative long-term value trajectories for shorter-tenure properties and prioritise freehold or 999-year lease acquisitions where available, as these structures eliminate future lease decay concerns and simplify intergenerational wealth transfer.

How does proximity to Dakota MRT Station affect capital appreciation and rental demand for The Waterina?

Developments within 10 minutes' walking distance of an MRT station consistently command premium valuations and maintain stronger tenant interest compared to non-MRT-proximate competitors. Dakota MRT Station (CC8) positions The Waterina residents within 15–20 minutes of central business districts and educational hubs, creating material commute savings versus private vehicle or bus alternatives. This accessibility directly supports capital appreciation by broadening buyer appeal across young professionals, working families, and downsizers who prioritise transport efficiency. Rental demand similarly strengthens, as tenants actively seek locations minimising daily commute times and maximising career flexibility. Historically, MRT-proximate residential developments in Singapore have outperformed non-MRT peers by approximately 20–30% in value growth over 10-year cycles, largely attributable to improved commute efficiency and lifestyle convenience driving sustained buyer competition. The Waterina's Dakota MRT positioning therefore represents a structural advantage supporting both medium-term appreciation and stable rental yields.

Which buyer profiles are best suited to purchasing at The Waterina?

First-time buyers seeking to enter the residential property market will find The Waterina's established Geylang location and moderate pricing offering genuine value, coupled with uncomplicated exit opportunities should circumstances change. Upgraders transitioning from smaller HDB flats or condominium apartments appreciate the spacious unit layouts and mature neighbourhood environment that feels established rather than pioneering. High-net-worth individuals may view The Waterina as part of a diversified residential portfolio, leveraging the neighbourhood's rental demand and development location accessibility to achieve exposure across multiple price points. Investors focused on yield generation respond to the combination of achievable rents (3.5–4.5% gross), moderate acquisition costs relative to central districts, and neighbourhood stability that has characterised Geylang residential markets for decades. Empty-nesters downsizing from larger suburban properties find the neighbourhood's convenience, walkable amenities, and MRT connectivity appealing. Each buyer segment discovers distinct value propositions embedded in The Waterina's positioning, explaining the development's appeal across diverse purchasing motivations.

What TDSR and financing headroom should I expect when purchasing a unit at The Waterina?

The Waterina's pricing trajectory—with entry points around S$2.55 million—positions units within reach of owner-occupiers pursuing HDB-to-private transitions or substantial upgraders. Mortgage lenders typically assume Loan-to-Value (LTV) ratios of 75–80% for established residential properties in Geylang, meaning a S$2.55 million purchase would require approximately S$510,000–S$637,500 in equity, with the balance financed at prevailing mortgage rates. Assuming an 80% LTV and 3.5% interest rate, the annual debt servicing obligation on a S$2.04 million loan approximates S$110,000, or roughly S$9,200 monthly. For household incomes of S$25,000 monthly, this commitment occupies approximately 36.8% of Total Debt Service Ratio (TDSR) capacity—well within the regulatory ceiling of 60%—leaving meaningful headroom for existing commitments and future financial flexibility. Buyers should engage mortgage brokers to confirm exact financing parameters and model stress scenarios at higher interest rates (e.g. 4.5–5%) to ensure long-term affordability, particularly if combined with existing property obligations or consumer debt.

How does The Waterina compare to competing developments in the Geylang precinct?

Geylang's residential landscape comprises a mix of HDB flats, established private condominiums, and newer apartment developments all competing for similar buyer cohorts. Competing private-sector developments in the immediate vicinity typically offer comparable unit sizes, similar floor-plate configurations, and analogous transport connectivity via Dakota or adjacent MRT stations. The Waterina's competitive positioning rests on contemporary finishes, spacious floor plates, and pricing that aligns with district-wide per-square-foot benchmarks rather than commanding significant premiums. Buyers evaluating The Waterina against competing Geylang developments should compare unit floor areas, amenity specifications, sinking fund contribution levels, and exact MRT walking distances to ensure they understand relative value. The neighbourhood's moderate new-supply pipeline (compared to central districts like Bukit Timah or Orchard) suggests that pricing competition will remain relatively contained, supporting value retention for early purchasers. Investors should verify whether comparable developments have achieved sustained tenant demand and achievable rents, as this evidence strengthens confidence in The Waterina's rental yield assumptions.

Which unit stack or floor level at The Waterina offers the best value proposition?

Mid-tier floor units (approximately levels 5–20) typically offer the best value-to-quality ratio across residential developments, balancing premium positioning against prices that avoid the substantial premiums commanded by penthouses or highest-floor units. These levels enjoy natural ventilation and light superior to ground-level units, whilst remaining substantially cheaper than upper-floor equivalents where developers and buyers apply premium pricing based on views or perceived prestige. Geylang's mature neighbourhood context and absence of dramatic skyline vistas mean that upper-floor premiums remain modest compared to central-district developments, making mid-tier positioning particularly attractive from a value perspective. Investors should likewise prioritise mid-tier levels, as tenant preferences align closely with owner-occupier demand—tenants actively seek natural light, ventilation, and mid-range pricing that reflects broader market willingness-to-pay. Ground and basement levels merit careful evaluation, as outdoor exposure limitations and increased ambient noise may constrain both resale demand and achievable rental rates. Buyers should inspect floor plates across multiple levels to verify space planning consistency and unit-to-unit amenity equivalence.

What is the future supply pipeline outlook for residential development in Geylang, and how does this affect The Waterina's long-term value?

Geylang's residential pipeline reflects established neighbourhood consolidation rather than extensive redevelopment activity anticipated in emerging precincts. Most current housing supply comprises HDB flats undergoing gradual refurbishment or private condominium developments competing for similar buyer cohorts, with limited large-format new launches likely to substantially alter neighbourhood character or supply balance. This moderate pipeline intensity supports pricing stability and sustained rental demand for The Waterina, as neighbourhood supply dynamics remain balanced rather than oversupplied—a structural advantage compared to districts like Jurong or Tampines where multiple concurrent launches intensify buyer competition and compress achievable valuations. Geylang's zoning and land-use patterns suggest continued focus on residential and neighbourhood retail uses rather than large-scale commercial or industrial development, preserving neighbourhood residential character and the amenity foundations supporting buyer and tenant satisfaction. Investors evaluating The Waterina can therefore expect relatively contained future competition from new residential launches, reducing risks of value dilution from excessive neighbourhood supply growth over medium-term holding periods of 7–10 years.

[For Sale] The Waterina — From S$2.6M