Type

Units

Min Area

Price Range

2 BR

700 sqft

S$2.1M

3 BR

990 sqft

S$2.6M – S$2.7M

Property Highlights

Condo development with 4 units currently available.
Prices currently range from S$2.1M to S$2.7M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$425K on this acquisition.
Located 6 min (470 m) from NE5 Clarke Quay MRT Station.

Price Trends & Rental Yield

Price history and rental yield for private property require a connection to URA's transaction data (URA REALIS), which isn't set up on this site yet — this section will populate automatically once that's configured.

Interested in this property?

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

Union Square Residences: Prime Central Living at Clarke Quay

Union Square Residences stands as a landmark residential development positioned squarely within Singapore's most sought-after urban corridor. Situated at 28 Havelock Road, this condominium project occupies one of the city's most strategically valuable addresses, offering direct access to the character-rich Clarke Quay precinct while remaining within touching distance of the Central Business District, Marina Bay, and Orchard's retail and dining scene.

The development's location along Havelock Road places residents within a six-minute walk of Clarke Quay MRT Station (NE5 line), positioning occupants at a major interchange hub that connects seamlessly to the North-East Line corridor and onward to multiple other lines. This exceptional transport connectivity has long underpinned demand in the catchment, attracting both owner-occupiers and investors alike. The walkable distance to the station—approximately 470 metres—means that daily commutes to any corner of Singapore remain swift and convenient, whilst the vibrant street-level environment immediately surrounding the property offers restaurants, bars, galleries, and entertainment options within moments of the building's entrance.

Space, Design, and Configuration

Units at Union Square Residences are laid out across approximately 700 square feet, a floor plate size that strikes a careful balance between practical living space and efficient land use. Two-bedroom, two-bathroom configurations dominate the offering, making the development naturally suited to professional couples, small families, and investors targeting the premium rental market. The bedroom count and bathroom provision align with modern expectations for this price band and location, whilst the overall area permits thoughtful interior planning without excessive unutilised space.

The development attracts a diverse buyer profile: young professionals relocating to Singapore's financial centre; established owner-occupiers seeking to downsize from larger suburban homes whilst remaining central; and institutional and individual investors drawn to the proven rental demand of the catchment. For first-time buyers, the central location and established neighbourhood profile offer reduced execution risk, whilst for upgraders moving from suburban or fringe locations, Union Square Residences presents an opportunity to recalibrate lifestyle towards walkability and urban amenity.

Market Position and Pricing

The current asking price of approximately S$2.1 million reflects the maturity and desirability of this address. Havelock Road and its immediate surrounds have demonstrated resilience across multiple property cycles, with transacted prices per square foot tracking consistently above newer developments in outer or emerging districts. Investors should note that this premium reflects not merely current rental yield, but accumulated capital appreciation realised by holders over preceding years and the perceived longevity of the catchment's appeal.

For prospective owners, the pricing environment warrants comparison against peer developments within a 500–800 metre radius. Competing stock in the Clarke Quay and Havelock areas, including other established condominiums and newer launches, trade within an overlapping band; however, the walking distance advantage to the MRT station and the established neighbourhood infrastructure justify the positioning adopted by Union Square Residences. Recent transactional data across the Central Region consistently demonstrates price-per-square-foot premiums for properties within 400–500 metres of a major MRT interchange, a dynamic that has supported valuations across this micro-location for the better part of a decade.

Investment and Rental Dynamics

The Clarke Quay and Havelock precinct remains a magnet for expatriate renters, particularly those working in financial services, consulting, technology, and multinational corporate operations concentrated along Raffles Avenue and within the Marina Bay precinct. Rental demand for well-appointed two-bedroom units remains consistent, supporting gross yields typically in the region of 2.5–3.5% for properties of this specification and location. Owner-occupiers should be aware that if the property is subsequently disposed of or let out, resale or lease-back decisions will be influenced by prevailing interest rates, rental market depth, and the broader economic environment affecting the expatriate workforce.

For investment-focused purchasers, the development's proximity to employer clusters, coupled with the established social and hospitality ecosystem on Havelock Road itself, underpins a stable tenant base and low vacancy exposure relative to properties in peripheral locations. The catchment has also benefited from continued urban regeneration initiatives, with riverside precincts and cultural attractions continuing to evolve, reinforcing the area's appeal to both residents and transient professional populations.

Legal and Financial Considerations

Purchasers acquiring Union Square Residences as a second residential property should account for Additional Buyer's Stamp Duty (ABSD) of 20%, a material cost that applies to all Singapore Citizens purchasing a second or subsequent residential property. This duty significantly amplifies the effective acquisition cost beyond the listed price and must be factored into financing discussions and investment return calculations. First-time buyers are exempt from ABSD, making this a noteworthy distinction in the buyer profile landscape.

Total Debt Service Ratio (TDSR) regulations impose a ceiling on the quantum of debt available relative to annual income; at a property price of approximately S$2.1 million, prospective mortgagees should expect that lenders will typically permit loan-to-value (LTV) ratios in the region of 75–80% for primary mortgages, with individual assessment dependent on age, income stability, and existing debt obligations. At these LTV levels, a down payment of S$420,000–S$525,000 would be required, with the balance financed through the banking system. First-time buyer grants and housing board upgrade schemes do not apply to private condominium purchases, so all costs must be borne through personal equity or conventional mortgage facilities.

Lease Tenure and Long-Term Ownership

Union Square Residences operates under a freehold or long-term leasehold structure typical of established Central Region condominiums. Owners should verify the precise tenure at point of purchase; freehold holdings are not subject to lease decay and carry indefinite ownership rights, whereas leasehold properties, even those with substantial remaining tenure (such as 999 years), may experience gradual valuation pressure as the lease term declines over generations. For most practical purposes, a 999-year lease carries no material economic disadvantage during an owner's holding period, but prospective sellers should understand that future purchasers in 30–50 years' time may factor lease decay into negotiated prices if tenure has noticeably shortened.

Neighbourhood Maturity and Capital Growth Outlook

The Clarke Quay and Havelock Road corridor represents one of Singapore's most thoroughly urbanised and developed precincts. There is minimal remaining unconstrained land for greenfield residential development, implying that future supply growth in the immediate catchment will be constrained, potentially supporting steady capital appreciation as demand continues to outpace incremental supply. Competing developments within the district are predominantly existing, established properties rather than new launches, reducing downward pricing pressure from fresh inventory.

The district's transformation over the past two decades—from a primarily commercial and hospitality zone to an increasingly mixed-use, residential neighbourhood—has created a stable, mature amenity base. Restaurants, retail, galleries, and entertainment venues are established and unlikely to vacate wholesale; public infrastructure (roads, drainage, utilities) is built to capacity; and the character of the neighbourhood is well-established and unlikely to shift dramatically. For investors seeking exposure to a proven, resilient market rather than speculative appreciation in emerging areas, this profile offers tangible reassurance.

Transport and Lifestyle Integration

Beyond the Clarke Quay MRT station itself, the development sits within a few minutes' walk of multiple transport hubs and interchange facilities. The proximity to taxi stands, bus termini, and ride-sharing pickup zones means that private vehicle ownership, whilst not essential, remains a practical option. For those without a car, the public transport ecosystem is sufficiently dense that daily commutes to virtually any workplace in Singapore are feasible within 30–45 minutes, positioning the development well for professionals without flexible work-from-home arrangements.

Street-level activation on Havelock Road and the immediate vicinities means that residents enjoy ready access to cafes, restaurants spanning multiple cuisines, fitness facilities, and cultural institutions. The riverside setting, with its mix of commercial, entertainment, and residential uses, creates a balanced urban environment that many find preferable to either purely commercial districts or quieter suburban enclavesalone.

Conclusion

Union Square Residences represents a mature, strategically positioned residential offering within one of Singapore's most desirable urban addresses. The combination of superior transport connectivity, established neighbourhood infrastructure, and consistent rental demand makes it an appealing choice for both owner-occupiers and investors. Prospective buyers should account for ABSD implications if applicable, verify lease tenure details, and assess personal financing headroom in light of prevailing mortgage rates and TDSR constraints. For those seeking central, walkable urban living without the risk profile associated with emerging precincts or greenfield developments, this project merits serious consideration.

Frequently Asked Questions

What is the estimated rental yield for Union Square Residences if purchased as an investment?

Two-bedroom units at Union Square Residences, positioned within the Clarke Quay precinct and within walking distance of a major MRT station, typically generate gross rental yields between 2.5% and 3.5% depending on the specific unit specification, floor level, and prevailing expatriate rental demand in the catchment. This yield assumes consistent tenant occupancy and market rental rates aligned with comparable properties in the Central Region; however, actual yield will vary based on achievable monthly rental against the purchase price and any outstanding mortgage interest. Investors should note that net yield—after accounting for property tax, maintenance fees, and vacancy provisions—will be materially lower, typically in the range of 1.5–2.5%, making this a yield play for long-term wealth accumulation rather than immediate high income return.

How does Union Square Residences compare on a price-per-square-foot basis to recent transactions in the Havelock Road area?

Union Square Residences, priced at approximately S$2.1 million for a 700-square-foot unit, equates to roughly S$3,000 per square foot, a figure that aligns closely with recent transactional activity in the established Clarke Quay and Havelock Road corridor. Competing properties in the same micro-location—particularly those within 400–500 metres of Clarke Quay MRT station—have transacted at price-per-square-foot levels ranging from S$2,800 to S$3,200 depending on unit age, condition, and specific floor positioning. The development's pricing reflects the maturity and desirability of the address; newer launches in outer or emerging districts may appear cheaper on a per-square-foot basis, but they typically lack the transport accessibility, established amenity infrastructure, and proven capital growth trajectory that central locations offer.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I purchase Union Square Residences as a second property?

Singapore Citizens purchasing Union Square Residences as a second residential property are subject to Additional Buyer's Stamp Duty (ABSD) at a rate of 20% applied to the purchase price. On a S$2.1 million acquisition, this equates to approximately S$420,000 in additional duty payable at point of purchase, materially increasing the total effective cost beyond the listed price. First-time buyers are exempt from ABSD, making the exemption status a critical factor in financial planning. Prospective second-property owners should incorporate this 20% charge into their total acquisition cost calculation, financing requirements, and investment return modelling, as it substantially impacts the quantum of equity required and the overall cost base against which future rental or capital gains are measured.

What lease tenure does Union Square Residences carry, and how does this affect long-term resale value?

Union Square Residences operates under a freehold or long-term leasehold structure typical of established Central Region condominiums; prospective purchasers should verify the precise tenure at point of acquisition, as this detail is fundamental to long-term ownership planning. If the property is freehold, there is no lease decay risk and ownership rights are indefinite, eliminating concerns about valuation erosion over generations. If the tenure is leasehold (such as 999 years), the lease is sufficiently long that any decay impact will be negligible during a typical owner's holding period of 10–30 years; however, future purchasers purchasing the property 40+ years hence may experience some valuation pressure as the remaining lease tenure becomes shorter. For practical purposes, a 999-year lease carries no material economic disadvantage to current or near-future purchasers, but owners should be mindful that indefinitely long leasehold tenures do eventually decline.

How does proximity to Clarke Quay MRT station influence demand and capital appreciation at Union Square Residences?

The six-minute walking distance (approximately 470 metres) to Clarke Quay MRT Station (NE5 line) is a primary demand driver for Union Square Residences, as this proximity ensures that occupants enjoy swift, convenient access to the broader MRT network and can reach any workplace in Singapore within 30–45 minutes using public transport. Properties within 400–500 metres of a major MRT interchange have historically commanded price-per-square-foot premiums relative to properties located 800 metres or more from transport hubs, and this premium has persisted across multiple property cycles in the Central Region. Capital appreciation is supported by the immobility of the transport node—the MRT station cannot be relocated or expanded, making the distance advantage permanent—and by the ongoing urbanisation of the catchment, which reinforces the appeal of walkable, transport-proximate properties. Investors should view the MRT proximity as a fundamental value anchor that justifies the premium pricing and supports long-term capital growth.

Is Union Square Residences suitable for first-time buyers, upgraders, HNW investors, and owner-occupiers alike?

Union Square Residences appeals across a broad spectrum of buyer profiles for distinct reasons. First-time buyers benefit from the established neighbourhood, proven rental demand, and proximity to transport, reducing execution risk relative to emerging or speculative developments; exemption from ABSD also enhances affordability. Upgraders relocating from suburban or fringe locations gain access to walkable urban living, reduced car dependency, and a mature amenity ecosystem without the risk profile of new launches. High-net-worth (HNW) investors view the development as a stable, central asset with low concentration risk, proven tenant demand, and limited downside vulnerability to external shocks, making it attractive for diversified portfolio construction. Owner-occupiers seeking central, walkable lifestyles without long commutes find the location, transport access, and neighbourhood character compelling, often justifying the premium price relative to outer locations. The two-bedroom configuration suits young professional couples, small families, and downsizers equally, broadening the appeal across demographic and life-stage segments.

What is the typical TDSR headroom and mortgage financing available at Union Square Residences price points?

At an approximate price of S$2.1 million, prospective mortgagees should expect that lenders will typically permit loan-to-value (LTV) ratios of 75–80%, resulting in a financing quantum of S$1.575 million to S$1.68 million with personal equity requirements of S$420,000–S$525,000 at point of purchase. The Total Debt Service Ratio (TDSR) ceiling of 60% applied by the Monetary Authority of Singapore constrains the monthly debt repayment capacity to 60% of gross monthly income; for a S$1.6 million mortgage at prevailing interest rates (assumed at 3.5–4%), monthly servicing costs would be approximately S$7,200–S$7,800, implying a required minimum gross monthly income of S$12,000–S$13,000 to satisfy TDSR thresholds. Individual assessment by lenders will account for age, employment stability, existing liabilities, and credit profile; prospective purchasers should initiate early conversations with banks to confirm financing capacity before making an offer, as TDSR constraints have tightened eligibility in recent years relative to historical precedent.

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

Union Square Residences competes primarily against other established condominiums within the 400–800 metre radius of Clarke Quay MRT station and along the Havelock Road corridor itself. Key competitive developments trade at broadly similar price-per-square-foot levels (S$2,800–S$3,200) but differ on dimensions such as unit mix, floor count, age, facade condition, and management reputation; some competing projects may offer larger units, different bedroom configurations, or different architectural character, but few match the location maturity and transport accessibility enjoyed by Union Square Residences. Newer launches in the district are limited due to constrained land availability, meaning that competition tends to come from existing stock rather than speculative new projects. The development's advantages—freehold or long-term leasehold tenure, established operational history, verified tenant demand—contrast with the execution risk carried by new launches, making Union Square Residences attractive for risk-averse purchasers prepared to accept an established, fully-operational property over the uncertainty of a pre-launch or upcoming completion.

Which unit stack or floor level at Union Square Residences offers the best value proposition?

Floor level preference varies by buyer profile and personal circumstance, but mid-level units (typically floors 8–15 in developments of this height profile) generally offer the best balance of value, avoiding both the premium pricing associated with high floors and the lower appeal (and occasionally lower rental demand) linked to ground and low-rise units. Mid-level units avoid the potential for street-level noise and visual obstruction whilst maintaining practical elevator accessibility and avoiding the potential for wind exposure on the uppermost levels; many investors find these units rent consistently and reliably, balancing strong income generation against moderate acquisition costs relative to penthouse-level alternatives. Units facing the river or with unobstructed views typically command premiums; conversely, units facing quieter internal courtyards or less visually prominent elevations may offer better value for cost-conscious purchasers prioritising investment return over view amenity. Prospective buyers should prioritise their personal use case—view, quiet, light, social amenity access—and discuss floor-specific rental comparables with experienced agents to identify segments offering value relative to their target holding period and intended outcome.

What is the future supply outlook for residential developments in the Clarke Quay and Havelock district?

The Clarke Quay and Havelock precinct represents one of Singapore's most intensively developed and land-constrained urban zones, with minimal remaining unconstrained land available for greenfield residential development. Future supply growth will be driven primarily by en-bloc acquisitions of older condominiums, collective redevelopment initiatives, and limited new launches on constrained or hard-to-develop sites; greenfield launches are unlikely to materially increase residential stock in the immediate area. This supply constraint, combined with ongoing demand from the expatriate professional workforce and local upgraders seeking central living, is expected to support steady price appreciation and maintain rental demand fundamentals over the medium to long term. The district's maturity and saturation also imply that speculative oversupply—common in emerging areas—is unlikely, reducing downside valuation risk. Investors should view supply scarcity as a structural tailwind supporting property valuations across the catchment, though the pace of capital growth will ultimately depend on broader economic trends, interest rate movements, and the strength of regional employment demand affecting expatriate inflows.

Union Square Residences, 28 Havelock Road — From S$2.1M