Type

Units

Min Area

Price Range

2 BR

710 sqft

From S$1.8XM

3 BR

990 sqft

S$2.6XM – S$2.6XM

4+ BR

1518 sqft

From S$4.1XM

Property Highlights

3-bedroom, 2-bathroom unit offering 990 sqft of living space in prime District 1
Just 470 metres from Clarke Quay MRT (NE5 line) – a 6-minute walk to major transport hub
Located on Havelock Road, one of Singapore's most established mixed-use neighbourhoods
Priced at S$2,612,000 with strong connectivity to business and leisure districts
Ideal for upgraders and investors seeking CBD-adjacent residential appeal

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Ref: 25256758

Union Square Residences: Premium Living in the Heart of Havelock

Union Square Residences stands as a compelling choice for discerning buyers seeking a sophisticated residential address in one of Singapore's most vibrant precincts. Situated at 28 Havelock Road, this three-bedroom, two-bathroom condominium offers 990 square feet of thoughtfully appointed space, positioned to capture both the lifestyle appeal and investment potential of Singapore's central business and cultural hub.

The property sits at an advantageous juncture within District 1, where residential living seamlessly integrates with thriving commercial, dining, and entertainment ecosystems. Havelock Road itself has evolved into a prestigious address, drawing both long-term residents and savvy investors who recognise the enduring value of proximity to Singapore's economic and cultural core.

Exceptional Connectivity and Transport Links

One of the standout features of this address is its proximity to Clarke Quay MRT Station on the North-East Line (NE5). At merely 470 metres—or approximately a 6-minute walk—this location offers the rare advantage of being within genuinely walkable distance of a major interchange station. Clarke Quay itself functions as a secondary hub on Singapore's rail network, providing direct access to the CBD, Marina Bay, and onward connections across the island's broader transport infrastructure.

For professionals working in the financial district or anyone regularly commuting to the northeast corridor, this accessibility translates into tangible time savings and lifestyle convenience. The walkability also enhances the neighbourhood's appeal to younger professionals and families who prioritise efficient transport without relying on private vehicles for daily commutes.

Neighbourhood Character and Amenities

The Havelock precinct has matured into a multi-layered destination beyond simple residential classification. Within the immediate vicinity, residents encounter a curated blend of independent retailers, established hospitality venues, and boutique services that reflect Singapore's sophisticated urban character. The concentration of riverside activity along the Clarke Quay stretch, just moments away, adds cultural and recreational dimensions that few residential addresses in Singapore can match.

The 990-square-foot floor plan reflects contemporary expectations for three-bedroom units in this segment, providing adequate space for families, remote workers requiring dedicated study areas, or investors furnishing for the premium rental market. The inclusion of two full bathrooms addresses practical household needs whilst maintaining the efficient spatial allocation that appeals to discerning buyers.

Investment Proposition and Market Position

At S$2,612,000, this property positions itself within the established range for district-core condominium units offering both rental income potential and long-term appreciation prospects. District 1 properties have historically demonstrated resilience during market cycles, supported by consistent demand from both owner-occupiers and institutional investors. The CBD-adjacent positioning—whilst commanding premium pricing—provides a hedge against sustained demand arising from economic concentration and transport infrastructure investment.

The rental market in this particular neighbourhood attracts international assignees, young professionals, and established families, creating a relatively liquid pool of potential tenants. Properties with strong MRT connectivity typically command rental premiums, and this unit's walkable access to Clarke Quay positions it favourably for maximising yield in the serviced rental sector.

Buyer Suitability and Acquisition Considerations

Union Square Residences appeals to several distinct buyer profiles. Upgraders moving from HDB or smaller private properties will find the spatial efficiency and premium location compelling, particularly if their working lives centre on the CBD or eastern corridors. High-net-worth individuals seeking a pied-à-terre with sophisticated urban amenities rather than sprawling square footage will appreciate the practical luxury this address represents. Property investors recognising the enduring appeal of District 1 locations will evaluate this unit against comparable offerings, weighing annual yield potential against capital appreciation likelihood over their intended holding period.

For first-time private property buyers with sufficient financial capacity, this location offers an entry point into Singapore's core district, though prospective purchasers should carefully model their financing requirements and ensure alignment with their long-term residential intentions, as acquisition costs and ongoing maintenance fees form a material component of total ownership cost.

Market Context and Comparable Values

The Havelock Road corridor has benefited from sustained investor interest, with neighbouring addresses demonstrating consistent transaction volumes. Recent market activity suggests that District 1 properties with strong MRT connectivity command price-per-square-foot premiums ranging between S$2,600 and S$3,100 depending on finishes, floor level, and unit configuration. This particular property's pricing aligns with mid-to-upper range transactions within that bandwidth, reflecting its three-bedroom configuration and established building reputation.

The neighbourhood continues to attract institutional capital, with several boutique office conversions and hospitality projects reinforcing commercial vitality. This backdrop supports residential values by ensuring sustained foot traffic, business activities, and cultural programming that sustains property appeal across market cycles.

Practical Ownership Considerations

Prospective buyers should factor in Singapore's Additional Buyer's Stamp Duty (ABSD) implications, particularly if acquiring this property as a second or subsequent residential holding. ABSD rates currently levy 5 per cent on second properties and escalate for additional acquisitions, materially affecting total acquisition cost and financial planning. Buyers should conduct detailed affordability modelling including ABSD, legal fees, and annual maintenance contributions before proceeding.

The leasehold nature of Singapore's residential properties means understanding the remaining lease term and projected lease decay becomes essential to long-term value preservation. Properties in this district with well-maintained leasehold profiles typically maintain stronger resale values and rental appeal than those experiencing significant lease deterioration.

Strategic Location for Modern Living

Union Square Residences ultimately represents a calculated choice for those prioritising proximity to Singapore's economic heart, cultural amenities, and transport infrastructure over suburban spaciousness. The three-bedroom, two-bathroom configuration, 990-square-foot layout, and priced at S$2,612,000, positions this unit as a serious option for established buyer profiles seeking District 1 residential living without requiring expansive square footage or isolated suburban positioning. The six-minute walk to Clarke Quay MRT encapsulates the neighbourhood's core appeal—genuine convenience meeting sophisticated urban lifestyle expectations.

Frequently Asked Questions

What is the estimated gross rental yield for this property if purchased as an investment?

Based on comparable District 1 three-bedroom units achieving monthly rents between S$5,500 and S$6,800 depending on finishes and furnishing level, gross annual rental yield typically ranges from 2.5 to 3.1 per cent of purchase price. At S$2,612,000, this translates to approximately S$65,000 to S$81,000 in gross annual rental income. Net yield after maintenance fees (typically S$500–S$700 monthly), property tax, and management costs would realistically fall between 1.8 and 2.4 per cent. The walkable proximity to Clarke Quay MRT strengthens rental appeal significantly, as international assignees and young professionals frequently target locations with genuine transport accessibility over longer commutes. Investors should model yield conservatively and factor in occasional vacancy periods, particularly during seasonal market softness.

How does the S$2.61M price compare to recent price-per-square-foot transactions in the Havelock area?

Recent transactions on Havelock Road and adjacent streets in District 1 have established price-per-square-foot benchmarks ranging from approximately S$2,600 to S$3,100 psf, depending on unit configuration, floor level, and building quality. At S$2.61M for 990 sqft, this property's implied psf of approximately S$2,638 positions it within the lower-to-mid tier of recent comparables, suggesting competitive pricing relative to similar three-bedroom configurations. Properties commanding higher psf valuations typically feature superior finishes, higher floor levels with better views, or premium building amenities. This relative valuation indicates reasonable market positioning for buyers evaluating comparable alternatives in the immediate vicinity. Market activity over the past 12 months suggests sustained interest at these price points, with absorption rates indicating healthy demand from both owner-occupiers and investors.

What are the ABSD implications for a second-property buyer at this S$2.61M price point?

Singapore's Additional Buyer's Stamp Duty (ABSD) imposes a 5 per cent levy on second residential properties, meaning this purchase would incur approximately S$130,600 in ABSD alone. For buyers acquiring a third or subsequent residential property, ABSD escalates to 10 per cent, totalling S$261,200. These duties substantially increase the total acquisition cost beyond the purchase price itself, requiring careful financial planning and affordability modelling. When combined with legal fees (typically S$2,000–S$3,000), valuation fees, and agent commissions (where applicable), total transaction costs for a second-property acquisition at this price point typically reach S$175,000–S$190,000. Prospective buyers should consult their financial advisers to confirm tax residency status and eligibility, as certain expatriates and corporate entities may qualify for ABSD exemptions or deferrals under specific circumstances.

What is the lease decay risk, and how might it affect resale value over time?

Most properties on Havelock Road are held on 99-year leases, though some individual units may have experienced lease decay depending on their specific acquisition dates by the developer or previous owners. For a unit purchased today, the remaining lease term would typically range between 92–99 years, meaning lease decay is unlikely to materially impact value during a 10–15 year holding period. However, properties with leases below 80 years become increasingly challenging to finance and may experience more pronounced capital value depreciation, as buyers' financing options contract and investor interest shifts toward longer-lease alternatives. Singapore banks typically require minimum 30-year lease terms remaining at the point of property sale, which effectively limits resale markets for significantly decayed leases. Buyers should obtain the exact lease expiry date during the property inquiry process and consider lease renewal implications if planning to hold beyond 20 years, as renewal costs and timing uncertainties can influence long-term ownership decisions.

How does proximity to Clarke Quay MRT influence demand and capital appreciation for this property?

Clarke Quay MRT's position as a major interchange station on the North-East Line, combined with this property's genuine 470-metre walkability, creates a measurable demand premium versus comparable units in surrounding areas requiring longer commutes or vehicle dependency. Historically, Singapore properties within 500 metres of MRT stations demonstrate stronger capital appreciation during economic upswings and greater value stability during downturns, as transport accessibility remains a consistent demand driver across buyer cohorts. The North-East Line's connection to Orchard (NE6), Marina Bay (NE7), and the broader eastern corridor creates employment accessibility advantages for finance professionals, hospitality workers, and technology sector employees concentrated in those areas. Research from recent property cycles suggests that prime MRT-adjacent residential properties in District 1 have outperformed non-MRT adjacent alternatives by 15–25 per cent over 10-year periods, reflecting the compounding value of transport convenience. This location's walkable transport access likely provides meaningful differentiation when competing properties require 15–20 minute walks or taxi/private vehicle reliance.

Is this property suitable for different buyer profiles—HNW, upgraders, first-timers, and investors?

High-net-worth individuals seeking a sophisticated urban pied-à-terre rather than primary family residence will appreciate the efficient 990-square-foot layout, premium location, and minimal maintenance burden compared to sprawling private houses. The S$2.61M price point, whilst substantial, represents accessible value for established HNW buyers dividing their time between Singapore and international locations. Upgraders transitioning from HDB flats or smaller private properties will find the three-bedroom, two-bathroom configuration, District 1 location, and Clarke Quay MRT accessibility compelling, particularly if their professional lives centre on the CBD. First-time private property buyers with sufficient financial capacity (typically requiring S$800,000–S$900,000 in savings after ABSD and acquisition costs) can establish their initial foothold in Singapore's core district, though they must carefully model long-term affordability including maintenance fees and potential interest rate increases. Property investors will evaluate this unit based on rental yield, capital appreciation prospects, and portfolio diversification benefits, with the Clarke Quay MRT proximity and District 1 positioning supporting medium-to-long-term holding intentions and tenant quality expectations.

What TDSR and financing headroom considerations apply at the S$2.61M price point?

The Total Debt Servicing Ratio (TDSR) framework, currently set at 60 per cent of gross monthly income, limits mortgage borrowing for this S$2.61M purchase significantly. At standard mortgage rates of approximately 4.5–5.5 per cent and assuming 70–75 per cent loan-to-value financing (typical for investment properties in this segment), buyers require gross monthly household income of approximately S$15,000–S$18,000 to qualify for financing without breaching TDSR limits. This translates to annual household income requirements of S$180,000–S$216,000 for comfortable financing approval. Buyers with borderline income profiles may encounter financing constraints or require larger cash downpayments (30–40 per cent instead of standard 25 per cent) to reduce loan amounts beneath TDSR-compliant thresholds. Additionally, banks increasingly apply stress-testing assumptions (typically +3 per cent interest rate buffers) when assessing repayment capacity, meaning current rate approvals at 4.5 per cent may be evaluated against potential 7.5 per cent servicing scenarios. First-time buyer programmes and certain institutional schemes may offer slightly more favourable terms, but those pathways typically require owner-occupancy rather than investment intentions.

How does Union Square Residences compare to competing developments in the Havelock area?

The Havelock precinct hosts several established developments competing for similar buyer demographics, including units in riverside-facing buildings and those occupying secondary streets with marginally reduced MRT accessibility. Comparable three-bedroom units in the immediate vicinity (within 300–500 metres) typically command prices ranging from S$2.45M to S$2.85M depending on building reputation, floor level, and specific amenities. Union Square Residences' positioning at the lower-to-mid range of this spectrum suggests competitive market pricing, though prospective buyers should inspect multiple comparable properties to evaluate quality differentiation, maintenance standards, and facility offerings. Buildings with swimming pools, concierge services, and recently renovated common areas typically command 3–8 per cent price premiums versus more basic configurations. The specific appeal of Union Square Residences likely centres on building age, maintenance quality, and any distinctive architectural or amenity features that differentiate it from neighbouring developments. Serious buyers should conduct detailed comparative inspections across competing addresses before finalising purchase decisions, as marginal price differences can reflect meaningful quality variations or obsolescence factors.

Which unit stack or floor level typically offers the best value proposition for buyers?

Middle and upper-middle floor units (typically floors 15–25 in a 30+ storey building) generally offer optimal value balancing city views, natural light, and modest pricing premiums versus ultra-premium penthouses or low-rise units. Lower floor units (floors 1–10) occasionally attract discounts of 5–10 per cent versus comparable mid-floor counterparts, reflecting buyer preferences for elevation and reduced noise from street-level activities. Units facing Clarke Quay or river views command premium pricing (typically 10–15 per cent above comparable interior-facing units) due to aesthetic appeal and psychological amenity value, though this premium may not translate proportionally into resale capital appreciation. Corner units throughout the building offer superior natural light and often command modest premiums (3–5 per cent) reflecting their enhanced spatial perception and ventilation characteristics. For investment purposes, units on lower-to-middle floors with simple interior configurations and strong rental appeal often deliver superior yield outcomes versus aesthetically premium but harder-to-let penthouses or very high floors. Buyers should inspect multiple floor levels and exposures before deciding, as personal preferences regarding views, noise, and light conditions vary significantly and ultimately influence satisfaction and resale demand.

What does the future supply pipeline suggest about long-term value dynamics in this district?

District 1, particularly the Havelock-Clarke Quay corridor, has experienced relatively constrained new residential supply over the past decade, with most incoming projects concentrated in Marina Bay and more eastern Orchard-adjacent precincts. Government planning policies increasingly restrict high-density residential development in prime business districts, suggesting the supply constraints affecting Havelock are likely to persist rather than intensify. This structural undersupply, combined with sustained demand from international assignees, finance professionals, and upgraders seeking CBD proximity, supports the long-term scarcity value of existing established residential stock. Emerging workplace-from-home trends theoretically reduce transport accessibility premiums, yet Singapore's property market data from 2020–2024 indicates that CBD-adjacent locations have maintained stronger appreciation than suburban alternatives, suggesting in-person collaboration remain significant for professional cohorts. Any future public housing announcements or transport infrastructure expansions to competing precincts (Clementi, Jurong) could theoretically disperse demand, but Clarke Quay's established cultural and commercial ecosystem makes outright demand migration unlikely. Conservative buyer analysis suggests that supply scarcity in this district, combined with transport fundamentals and continued professional employment concentration, position established properties favourably for steady, if unspectacular, long-term value retention and modest appreciation trajectories aligned with broader Singapore property market cycles.

Union Square Residences | 3-Bed Condo S$2.61M Near Clarke Quay