Type

Units

Min Area

Price Range

2 BR

700 sqft

S$1.8M – S$2.2M

4 BR

1518 sqft

S$4.2M – S$4.2M

Property Highlights

Condo development with 7 units currently available.
Prices currently range from S$1.8M to S$4.2M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$360K 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: Premium Riverside Living Near Clarke Quay

Union Square Residences stands as a distinguished residential development on Havelock Road, one of Singapore's most sought-after addresses for those balancing urban convenience with riverside character. Situated just six minutes' walk from Clarke Quay MRT Station (NE5 line), the project positions residents within easy reach of the Central Business District, Outram's dynamic hospitality scene, and the cultural landmarks that define Singapore's heritage quarters. The development's strategic location has established it as an attractive proposition for owner-occupiers, upgraders, and investment-focused buyers alike.

The development comprises thoughtfully designed residential units across a range of configurations, with unit sizes extending to approximately 1,500 square feet and beyond. This scale allows families to enjoy generous living spaces without sacrificing the convenience of a city-centre address. Current available units carry price points commencing from the S$4 million mark, reflecting the substantial appeal of Havelock Road's established status and connectivity to Singapore's key commercial and cultural hubs.

Location and Connectivity

Clarke Quay MRT Station's proximity is a defining advantage of Union Square Residences. The North East Line connection provides direct access to Orchard, Dhoby Ghaut, and the wider island network, ensuring that working professionals can reach major employment centres within fifteen to twenty minutes. Beyond the MRT, Havelock Road itself benefits from excellent bus connectivity, and the river-facing precinct encourages cycling and walking infrastructure that appeals to health-conscious residents. The pedestrian environment around the development fosters a sense of community whilst maintaining the urban energy that characterises Singapore's riverside zones.

Neighbourhood Character and Amenities

The Outram and Clarke Quay precincts have undergone significant revival in recent years, transforming into vibrant mixed-use destinations. Residents of Union Square Residences enjoy immediate access to fine dining establishments, casual cafés, craft breweries, and cultural venues that line the Singapore River. The redeveloped riverfront itself provides recreational walking trails, public seating, and photography spots that enhance quality of life without requiring travel. Shopping and grocery facilities cluster nearby, including traditional wet markets and contemporary retail, ensuring everyday convenience for all household members.

Education facilities, healthcare providers, and recreational amenities form concentric rings around the development. Nearby schools serve families at primary and secondary levels, whilst private medical practices and clinics operate throughout Outram. For leisure, residents have access to public parks, the Singapore River's recreational zones, and cultural institutions that reflect the district's heritage focus.

Investment Potential and Market Demand

Union Square Residences benefits from sustained investor interest driven by consistent rental demand in the Clarke Quay precinct. The development's central location attracts expatriate tenants, corporate relocations, and business professionals seeking short-term or long-term accommodation with proximity to Raffles Place and the CBD. Rental yields in comparable nearby developments typically range between 2.5% and 3.5% gross annual yield, depending on unit configuration, floor level, and market conditions at the time of leasing. The strong transient population in the immediate area—hotels, hostels, and service apartments cluster throughout Clarke Quay—demonstrates the neighbourhood's appeal to temporary residents, indirectly supporting sustained rental demand for residential units.

Capital appreciation potential remains supported by land scarcity in central Singapore and the development's irreplaceable riverside address. Historical data from the Central Business District fringes shows consistent appreciation over five to ten-year holding periods, particularly for units commanding premium floor levels and unobstructed views. Buyer profiles have historically included upgraders from suburban districts seeking first-time central living, international business figures relocating to Singapore, and portfolio investors diversifying into prime locations.

Regulatory and Financial Considerations

Prospective purchasers should be aware of Additional Buyer's Stamp Duty (ABSD) implications. Singapore Citizens acquiring a second residential property will incur ABSD at a rate of 20% on the purchase price, substantially impacting total acquisition costs beyond the base price of units available at Union Square Residences. First-time buyer Singapore Citizens and permanent residents purchasing their first residential property enjoy ABSD exemption, making the development particularly attractive for those cohorts. Foreign investors are subject to ABSD at 20% regardless of ownership history.

Financing considerations for purchasers should account for typical total debt servicing ratios (TDSR) limits of 60%, meaning that a property priced in the S$4 million range typically requires household monthly income of approximately S$18,000 to S$22,000 depending on existing debt obligations. Most major Singapore banks offer mortgages covering 75% to 80% of purchase price for established developments, requiring down payments of 20% to 25% from buyers. Stamp duty on purchase (separate from ABSD) applies at progressive rates ranging from 1% to 4% of purchase price, constituting an additional cost layer that prospective buyers must incorporate into financial planning.

Unit Configurations and Living Spaces

The available units within Union Square Residences span configurations designed to accommodate diverse household compositions. Larger units approaching 1,500 square feet typically feature four bedrooms with multiple bathroom facilities, allowing space separation for families with children or professionals requiring home office areas. These layouts reflect contemporary expectations for privacy and functionality within a central residential setting. Finishing standards across the development incorporate modern kitchen and bathroom fixtures, allowing immediate occupancy without substantial renovation outlay.

Floor selection carries material implications for both lifestyle enjoyment and long-term value retention. Lower-to-mid stack units typically command accessible pricing and may suit primary residence purchasers prioritising affordability, whilst higher floors command premium pricing due to enhanced views across the Singapore River and reduced noise exposure from Havelock Road traffic. Mid-to-high stack units (levels 12–25 approximately) often provide optimal value balance between price appreciation and amenity enjoyment, as these levels maintain excellent views whilst avoiding extreme premiums associated with the topmost floors.

Competitive Landscape and District Supply

Union Square Residences competes within a relatively constrained supply environment. The central locations commanding river views and MRT proximity have witnessed limited new residential launches in recent years, with most available stock comprising resale units or older developments. This supply-demand imbalance has historically supported stable pricing and capital appreciation across the Outram-Clarke Quay corridor. Competing developments remain predominantly those completed ten to fifteen years prior, meaning Union Square Residences' more recent construction timeline, modern building systems, and refreshed interior standards provide tangible differentiation for purchasers prioritising contemporary living.

Future supply in the immediate district appears modest, with Urban Redevelopment Authority (URA) Master Plan amendments focused on heritage preservation and mixed-use densification rather than greenfield residential expansion. This supply constraint bodes well for long-term value retention for Union Square Residences purchasers, as the scarcity premium associated with central Singapore residential stock continues strengthening relative to suburban alternatives.

Suitability for Different Buyer Profiles

Owner-occupier families seeking a central base benefit from Union Square Residences' proximity to schools, recreational facilities, and lifestyle amenities that reduce commute times and enhance daily convenience. Upgraders from suburban developments view the address as a lifestyle enhancement, with the riverfront location and urban energy providing qualitative improvements over suburban configurations. First-time buyers with sufficient financial capacity find the development appealing for its established neighbourhood character, modern building management, and lower maintenance burden relative to landed properties. Portfolio investors recognise the stable rental yields, diversification benefits of central holdings, and historical capital appreciation trajectory that central Singapore residential stock has demonstrated across market cycles.

Frequently Asked Questions

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

Units at Union Square Residences have historically attracted gross rental yields between 2.5% and 3.5% per annum, depending on unit configuration, floor level, and market conditions at the time of leasing. The development's proximity to Clarke Quay and the CBD creates sustained demand from expatriate tenants, corporate relocations, and professionals seeking furnished or unfurnished central accommodation. Rental rates for comparable units in the immediate precinct have remained resilient even during market downturns, supported by the limited supply of residential stock in prime central locations and consistent inbound corporate relocation flows to Singapore. However, individual yields vary substantially based on unit size, position within the building, and lease negotiation outcomes—smaller units and lower-mid stack positions often command tighter rental yields, whilst premium units with river views achieve yields at the upper end of this range.

How does Union Square Residences pricing compare to recent psf (price per square foot) transactions in the Havelock Road and Clarke Quay area?

Union Square Residences units are priced from approximately S$4 million for configurations around 1,500 square feet, translating to approximately S$2,650–S$2,800 per square foot depending on exact unit dimensions and floor location. Recent resale transactions in the immediate Outram and Clarke Quay precincts have recorded comparable psf values ranging from S$2,400 to S$3,100, with premium floor levels and river-facing units commanding the higher end of this spectrum. The development's more recent construction, modern building systems, and contemporary interior finishes position it competitively within this price range relative to older developments completed ten to fifteen years prior in the same district. Purchasers should note that psf comparisons should account for unit age, condition, and view quality—newer stock typically commands 5% to 10% premiums over older buildings in identical locations, which explains Union Square Residences' positioning within the mid-to-upper range of local psf benchmarks.

What are the Additional Buyer's Stamp Duty (ABSD) implications for purchasing a second property at Union Square Residences?

Singapore Citizens purchasing their second residential property at Union Square Residences will incur Additional Buyer's Stamp Duty at the current rate of 20% on the purchase price, substantially increasing total acquisition costs. For a unit priced at S$4 million, ABSD would amount to S$800,000, meaning the actual cash outlay for ABSD alone exceeds typical 20% down payment requirements. This 20% ABSD rate applies regardless of the time elapsed since the first property purchase, whether that property was a landed house, condominium, or HDB flat. Permanent residents face identical ABSD treatment, whilst foreign investors also incur ABSD at 20%. These costs must be incorporated into comprehensive financial planning before purchase—many second-time buyers structure acquisitions around ABSD minimisation strategies, such as disposing of existing properties before new purchases where feasible, or carefully timing transactions to optimise cash flow. First-time buyer Singapore Citizens and permanent residents enjoy full ABSD exemption, making Union Square Residences particularly attractive for those demographics.

Is there lease decay risk or resale value impact I should consider for Union Square Residences?

Union Square Residences operates on a land lease arrangement typical of Singapore residential developments, though specific lease tenure details should be verified with legal advisors during due diligence. Leasehold properties in Singapore do not typically experience the dramatic value deterioration observed in some overseas markets, as the Urban Redevelopment Authority actively manages collective en bloc sale frameworks for developments approaching lease expiry, allowing owners to unlock remaining land value. Residential units in central Singapore with strong locations, such as Havelock Road, have historically maintained or appreciated in value even as leasehold tenure ages, due to the high likelihood of en bloc collective sale before lease decay becomes material. The development's prime location and established neighbourhood status reduce re-sale friction compared to peripheral leasehold developments, meaning that lease duration is unlikely to be a material constraint on capital value recovery during typical ten to fifteen-year ownership periods. However, purchasers with thirty-year-plus holding horizons should account for potential lease tenure as a minor depreciation factor in long-term financial modelling, though collective sale frameworks should mitigate this risk substantially.

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

Clarke Quay MRT Station's six-minute walking distance is a defining value driver for Union Square Residences, positioning the development within Singapore's most desirable commute zone. Residential developments within 400 metres of established MRT stations command demonstrable capital appreciation premiums of 15% to 25% relative to non-MRT-proximate properties in identical districts, based on historical URA transaction data. The North East Line connection provides direct access to the CBD, Orchard, and the eastern island corridor, ensuring that employed residents can reach major employment concentrations within fifteen to twenty minutes without vehicle dependency. This accessibility sustains rental demand from expatriate tenants, local professionals, and corporate relocations—three buyer cohorts that prioritise commute convenience and transport connectivity. The development's location also positions it advantageously for future property value appreciation, as MRT-proximate properties historically outperform during economic cycles and maintain resilience during downturns when transportation cost pressures intensify. Accessibility to the river precinct's lifestyle amenities, combined with MRT proximity, creates a rare combination that has historically supported above-average capital appreciation across the Outram and Clarke Quay corridor.

Is Union Square Residences suitable for first-time homebuyers, and what are the financing advantages or constraints?

First-time buyer Singapore Citizens and permanent residents find Union Square Residences particularly attractive due to full Additional Buyer's Stamp Duty exemption, reducing total acquisition costs substantially compared to second-time purchasers. The development's established neighbourhood character, modern building management, professional concierge services, and proximity to lifestyle amenities position it as a premium first-time purchase destination for households with sufficient financial capacity—typically those with combined incomes of S$18,000 to S$22,000 monthly or greater. Banks typically extend 75% to 80% mortgage facilities for established developments, requiring first-time buyers to provide down payments of 20% to 25%, meaning a S$4 million unit would require liquid capital of S$800,000 to S$1 million upfront. Most major Singapore banks offer competitive mortgage rates for first-time buyers in prime central locations, often bundling wealth management services and preferential pricing for customers with broader banking relationships. However, first-time buyers should carefully model ongoing maintenance costs, property tax, and utilities within household budgets—central condominium living often requires discipline around lifestyle expenditure to ensure sustainable mortgage servicing within TDSR limits.

What TDSR and financing headroom should I expect at typical Union Square Residences price points?

Typical debt servicing ratio (TDSR) limits imposed by Singapore banks cap total monthly debt servicing at 60% of household gross monthly income. For a unit priced at S$4 million with 80% mortgage financing (S$3.2 million borrowed at approximate 3.5% annual interest), monthly mortgage payments would be approximately S$14,300 to S$14,700 depending on loan tenure—typically 30 years for residential mortgages. To comfortably service this obligation whilst maintaining 60% TDSR headroom, combined household monthly income should reach approximately S$23,800 to S$24,500, accounting for no other debt obligations. If purchasers carry existing personal loans, car financing, or credit card balances, required household income increases accordingly, potentially restricting borrowing capacity or requiring larger down payments. The development's price point makes it accessible to professionals with established incomes, executive-level compensation, and business owners with demonstrable earnings—typical purchase cohorts for prime central residential stock. Purchasers should budget for stamp duty (1% to 4% of purchase price), legal fees (S$1,500–S$3,000), valuation fees, and survey costs, which collectively add 2.5% to 3.5% to total acquisition costs beyond the base unit price.

How does Union Square Residences compare to competing nearby developments, and which offers better value?

Union Square Residences competes within a constrained market where most alternative stock comprises resale units in older buildings completed ten to fifteen years prior, or limited new projects focused on mixed-use rather than purely residential development. Comparable developments in the Clarke Quay and Outram precincts include older condominium towers that command slightly lower absolute prices but lack modern building systems, contemporary interior finishes, and the added convenience of latest-generation building management technology. Union Square Residences' newer construction timeline provides qualitative advantages—improved insulation, energy-efficient climate systems, modern kitchen and bathroom fixtures, and more reliable maintenance records—that justify price premiums of 5% to 10% per square foot relative to older stock. Alternative central locations such as Pearl Bank (Outram district), The Pinnacle@Duxton (Tanjong Pagar), and Neo Eco (Tanjong Pagar) offer competing options but typically command higher absolute prices due to architectural heritage or panoramic CBD views that Union Square Residences does not replicate. For purchasers prioritising riverside character, established neighbourhood feel, and accessibility to hospitality venues, Union Square Residences offers exceptional value relative to purpose-built luxury developments that emphasise CBD office-tower proximity over lifestyle amenity access.

Are specific floor levels or unit stacks at Union Square Residences better value than others?

Mid-to-high stack units at Union Square Residences (approximately levels 12 to 25) typically provide optimal value balance between price appreciation potential and lifestyle amenity enjoyment. These levels maintain excellent river and neighbourhood views whilst avoiding extreme price premiums associated with penthouses and topmost floors—which can command 20% to 30% premiums relative to identical units on lower-mid stack levels. Low-to-mid stack units (levels 3 to 10) attract price-sensitive upgraders and investors prioritising cash-on-cash returns, as these positions command 5% to 15% discounts relative to mid-stack comparables—though street noise exposure from Havelock Road traffic and reduced view amenity may constrain long-term resale desirability. Ground-floor and podium-level units typically command the steepest discounts (15% to 20% below mid-stack) due to noise, privacy, and view constraints, though these units suit investors prioritising rental yield over capital appreciation or purchasers with mobility considerations who prefer direct foyer access. Higher-floor premium positioning (levels 30 and above, if applicable) justifies price premiums of 15% to 25% for panoramic river views and prestige appeal, though these units typically deliver lower cash-on-cash rental yields relative to mid-stack positioning due to absolute price elevation.

What is the future supply pipeline for residential developments in the Outram and Clarke Quay district that might affect Union Square Residences value?

The Outram and Clarke Quay precinct faces materially constrained residential supply pipeline, with Urban Redevelopment Authority master planning focused on heritage preservation, mixed-use densification of existing plots, and limited greenfield expansion opportunities. Recent years have witnessed minimal new residential launches in the immediate district, with most activity concentrated on commercial office conversions and hospitality venue redevelopments rather than pure residential stock. The Singapore River precinct's heritage and conservation status restricts large-scale new residential construction, meaning that Union Square Residences benefits from relative supply scarcity that should support sustained pricing and capital appreciation over ten to fifteen-year holding periods. Government planning frameworks emphasise outer-ring housing development and transit-oriented communities in Growth Areas such as Jurong and Punggol, implying that prime central locations like Havelock Road will experience increasing scarcity value as the city densifies outward. Historical precedent suggests that central residential stock in supply-constrained zones, particularly MRT-proximate developments with river access, commands persistent capital appreciation and rental resilience across market cycles. Prospective purchasers should view Union Square Residences as a relatively stable long-term holding positioned to benefit from fundamental supply-demand imbalances favouring central Singapore residential stock.

Condominium At 28 Havelock Road — From S$1.8M