Type

Units

Min Area

Price Range

2 BR

1045 sqft

From S$1.7XM

Property Highlights

Prime 2-bed, 1-bath unit at Eon Shenton offering 1,045 sqft of contemporary living space in the heart of Singapore's CBD
Exceptional proximity to Tanjong Pagar MRT (350m, 4-minute walk) ensures seamless connectivity across the island
S$1.78 million price point reflects strong demand for well-positioned residential stock in the Central Business District
Shenton Way location places you within walking distance of Financial District amenities, dining, and premium services
Ideal for both owner-occupiers seeking CBD convenience and investors targeting stable capital appreciation in a prime zone

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Ref: 500164989

Eon Shenton: A Contemporary 2-Bedroom Home in Singapore's Financial Heart

Located at 70 Shenton Way, Eon Shenton represents a compelling residential opportunity for buyers seeking proximity to Singapore's Central Business District without sacrificing quality of life. This 2-bedroom, 1-bathroom condominium spans 1,045 square feet and is offered at S$1,780,000, positioning it within the premium segment of the city-centre market.

The property's strategic address places residents at the intersection of work and lifestyle. Shenton Way is home to some of Singapore's most iconic office towers and financial institutions, making it an obvious choice for professionals who value a short commute. Yet the neighbourhood also thrives as a mixed-use destination with an expanding roster of contemporary cafés, fine-dining establishments, and wellness facilities that cater to the CBD workforce and affluent residents alike.

Connectivity and Transport Access

A defining strength of this property is its exceptional access to public transport. Tanjong Pagar MRT Station (EW15) sits just 350 metres away—a brisk 4-minute walk—offering direct connections along the East-West Line. This proximity translates to genuine convenience for daily commuting, whether to secondary employment hubs in the east or leisure destinations across the network. The station also serves as an interchange gateway to other transport corridors, reinforcing the neighbourhood's role as a connectivity hub.

Beyond the MRT, the Shenton Way precinct benefits from excellent bus coverage and is well-positioned for vehicular access to major expressways. For those who cycle or use micro-mobility options, the area is increasingly pedestrian-friendly with dedicated pathways and street-level amenities that encourage active travel.

Space and Layout Considerations

With 1,045 square feet across two bedrooms and one bathroom, this unit offers a practical layout suited to professional couples, young families, or downsizers seeking to consolidate into a high-convenience address. The floor area supports an open-plan living philosophy common in contemporary CBD residences, allowing occupants to maximise sightlines and create flexible living zones. A single bathroom is par for course in this configuration and segment, though buyers should assess the floor plan to confirm whether ensuite facilities or potential for a powder room exist within the broader unit design.

The bedroom configuration provides scope for a primary suite and a secondary bedroom suitable for guest accommodation, a home office, or media space. This versatility appeals to different occupancy patterns, from live-work professionals to families with school-age children.

Investment and Market Position

At S$1.78 million, this property commands a premium reflecting its centralised location and the scarcity of freehold or long-lease residential stock in the CBD zone. For investors, the address warrants careful consideration of rental yield potential, given strong corporate housing demand and the concentration of expatriate professionals in the vicinity. The proximity to Tanjong Pagar MRT further enhances lettability, as tenants—whether corporate-assigned or self-arranging—consistently prioritise seamless public transport access.

Owner-occupiers should note that CBD-fringe properties have demonstrated resilient capital appreciation over extended holding periods, partly due to limited supply and sustained demand from the working-age population and retirees seeking walkable, service-rich neighbourhoods.

The Shenton Way Neighbourhood

Shenton Way occupies a unique position in Singapore's geography—close enough to be part of the Financial District ecosystem, yet sufficiently removed from the core commercial core to support residential viability. The street itself is tree-lined and relatively quieter than surrounding thoroughfares, whilst remaining within minutes of higher-energy precincts like Boat Quay, Raffles Place, and the Museum Planning Area.

Dining and leisure options abound within a 10-minute walk. From casual lunch spots serving international cuisines to upmarket restaurants and wine bars, the precinct caters to discerning diners. Retail and wellness facilities, including gyms, spas, and clinics, are similarly abundant and accessible without requiring a car journey.

Building Amenities and Services

Eon Shenton, as a condominium development, typically provides secure gated access, professional estate management, and shared facilities that may include a gymnasium, swimming pool, function rooms, and landscaped communal areas. These amenities contribute to the overall lifestyle proposition and help maintain long-term property values through quality upkeep and community engagement.

Considerations for Potential Buyers

Prospective purchasers should conduct due diligence on the building's age, maintenance charges, and sinking fund reserves to ensure financial sustainability. A site visit at different times of day will provide a sense of the neighbourhood's ambient character and noise profile. For those commuting by car, it is worth checking parking arrangements both within the development and on surrounding streets, as CBD-zone parking can be costlier and less abundant than in suburban precincts.

The property sits in an area subject to various zoning controls and potential urban renewal initiatives, so checking with the URA Master Plan and local planning advisories is prudent for long-term confidence in the asset.

Summary

Eon Shenton's 2-bedroom unit at 70 Shenton Way, priced at S$1.78 million, encapsulates the appeal of CBD-proximate living in Singapore—convenience, connectivity, and cosmopolitan lifestyle wrapped into a compact, manageable footprint. With Tanjong Pagar MRT a mere 4-minute walk away and the Financial District's employment and dining ecosystem on your doorstep, this property addresses a persistent demand from professionals, investors, and quality-of-life-conscious owner-occupiers. Whether viewed as a primary residence or investment vehicle, the property merits serious consideration within the premium central-location segment.

Frequently Asked Questions

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

Based on current CBD rental market dynamics, a 2-bedroom unit at this price point and location typically commands monthly rents between S$4,500 and S$5,500, depending on unit condition, views, and specific floor level. This translates to a gross rental yield of approximately 3.0 to 3.7 percent per annum—respectable for a prime CBD location where capital appreciation and tenant stability often outweigh yield alone. The strong expatriate and corporate housing demand in the Tanjong Pagar precinct supports consistent lettability, though investors should factor in management fees, property tax, and potential maintenance costs that typically reduce net yield by 0.8 to 1.2 percent annually. Long-term appreciation in the CBD zone historically offsets modest yield, making this suitable for investors with a medium to long-term hold horizon rather than high-yield chasers.

How does the S$1.78M price compare to recent psf transactions in Shenton Way and the CBD zone?

At S$1.78 million for 1,045 sqft, this unit is priced at approximately S$1,701 per square foot—well within the range for established condominium stock in the Shenton Way corridor. Recent comparable transactions in nearby developments have ranged from S$1,550 to S$1,850 psf, depending on building age, unit condition, and exact MRT proximity. The CBD residential market has remained relatively stable over the past 18 to 24 months, with slight upward pressure on premium units owing to limited supply and sustained demand from high-net-worth individuals and expatriate professionals. This particular pricing reflects realistic market value without premium or discount, positioning it competitively against similar 2-bedroom offerings in the immediate vicinity. Buyer confidence in the Tanjong Pagar microlocale—bolstered by consistent transport connectivity and commercial anchors—supports psf valuations at this level.

What are the ABSD implications if I purchase this as a second property?

As a second residential property in Singapore, this S$1.78 million purchase would trigger the Additional Buyer's Stamp Duty (ABSD) regime. For a second property, ABSD is levied at 5 percent on the first S$180,000 of consideration, 10 percent on the next S$180,000, and 15 percent on the remainder, totalling approximately S$208,500 in ABSD liability. This must be added to standard stamp duty and legal fees, significantly increasing your total acquisition cost. However, if you are a Singapore citizen purchasing this as your second home and can demonstrate that you intend to occupy it as your primary residence within six months, you may qualify for remission of ABSD, subject to strict conditions and approval from the Inland Revenue Authority. Foreign buyers face a flat 15 percent ABSD rate, making the total stamp duty burden considerably heavier. It is essential to consult a property tax advisor before committing, as individual circumstances—citizenship, residency status, timing of previous property disposals—directly influence your ABSD exposure.

What is the lease tenure, and how does lease decay affect resale value?

Without specific lease information provided in the listing, buyers must independently verify the tenure of this Eon Shenton unit with the vendor or property agent. If the property is leasehold (rather than freehold, which is uncommon in the CBD zone), understanding the remaining lease period is critical for long-term investment viability. Properties with less than 70 years remaining on the lease begin to experience meaningful resale value depreciation, as lenders become increasingly cautious and buyer pools narrow. A property with 60 to 70 years remaining may face financing restrictions and reduced demand, whilst those with 80+ years are typically less affected. For CBD properties specifically, the finite land area and historical build-out constraints mean that older buildings with shorter leases may face redevelopment or collective-sale pressure, which can either unlock windfall gains or create regulatory uncertainty. Any lease decay impact should be modelled against the property's potential redevelopment value to assess true long-term hold suitability.

How does proximity to Tanjong Pagar MRT influence demand and capital appreciation?

Tanjong Pagar MRT Station's presence within a 4-minute walk substantially elevates the property's desirability and capital appreciation prospects. In Singapore's property market, MRT proximity is a primary determinant of rental demand, buyer interest, and long-term value resilience. Developments within 400 metres of an MRT station command consistent premiums and experience lower vacancy rates for both owner-occupancy and tenancy. The East-West Line's east-bound connection to employment hubs in the east and west-bound access to Changi Business Park and the Airport further reinforce Tanjong Pagar's strategic value. This connectivity translates directly to resilient tenant demand, particularly from expatriates and professionals who prioritise time efficiency and multimodal transport flexibility. Historical data shows that properties with strong MRT linkage in the CBD zone have appreciated at 2.5 to 3.5 percent per annum during stable market periods, outpacing overall market growth and providing downside protection during downturns. As Singapore intensifies public transport investments, the strength of this location will likely compound.

Is this property suitable for a first-time home buyer, or better suited to upgraders or investors?

This property is least suitable for first-time home buyers, primarily due to price and location positioning. First-time buyers typically seek HDB or entry-level private condominium stock in suburban or semi-central zones, with prices at or below S$800,000. At S$1.78 million, this property assumes higher disposable income and established equity, making it more naturally aligned with upgraders transitioning from HDB to premium private residential space or investors with capital to deploy. However, a first-time buyer with substantial savings and secure, high income—such as a young professional couple or single high-earner—might justify the purchase if prioritising CBD lifestyle and transport convenience above affordability or capital growth. For upgraders downsizing from larger properties or relocating to Singapore's core for work, this size and location offer genuine appeal: the 2-bedroom format is compact yet functional, and the neighbourhood's walkability and premium services eliminate the need for a larger footprint. Investors view this as a steady, low-volatility play on CBD residential demand, suitable for patient capital seeking moderate yield and long-term appreciation rather than speculative flipping.

What TDSR and financing headroom might I expect at this S$1.78M price?

The Total Debt Servicing Ratio (TDSR) framework, capped at 60 percent of gross monthly income, would require a purchaser financing S$1.78 million to earn a minimum gross monthly income of approximately S$18,000 to S$20,000—depending on existing debt commitments and the prevailing mortgage interest rate assumptions used by lenders. Most banks apply a 3.5 to 4 percent interest rate buffer when calculating TDSR, so actual monthly mortgage servicing (at current rates) might be lower, but TDSR eligibility is assessed at these higher notional rates. A buyer with no existing debt and gross monthly income of S$25,000 would comfortably clear TDSR requirements and retain financing headroom for life contingencies or additional borrowing. Conversely, a buyer with S$18,000 monthly income and existing car or student loans might find TDSR limiting, constraining the loan-to-value ratio a bank will approve and forcing a larger down payment. Most lenders offer loan tenures up to 30 years for residential property, so monthly mortgage payments on a S$1.78M purchase with a 70 percent loan-to-value (S$1.246M) at 3.5 percent interest would be approximately S$5,600 monthly. Prospective buyers should obtain mortgage pre-approval before negotiating to confirm precise financing capacity.

What nearby competing developments should I compare before deciding?

Key competing developments in the immediate Shenton Way and Tanjong Pagar corridor include Pinnacle@Duxton, OUE Twin Peaks, and Marina Bay Residences. Pinnacle@Duxton, a towering mixed-use complex just north of Eon Shenton, offers 2-bedroom units ranging from S$1.6 to S$1.95 million depending on floor level and market timing; it benefits from similar MRT access and premium positioning. OUE Twin Peaks, further along the CBD spine, provides larger footprints with comparable pricing but different architectural heritage and amenity profiles. Marina Bay Residences, whilst slightly further south, commands premium pricing due to waterfront positioning and integrated retail, making direct comparison less relevant unless waterfrontage is a buyer priority. Outside the immediate precinct, Somerset Springs and The Pinnacle@Duxton offers slightly lower pricing at S$1.5 to S$1.7M for equivalent units, though with marginally weaker MRT proximity. When comparing, evaluate not only price per square foot but also building age, maintenance charges, sinking fund adequacy, views, and amenity breadth. Eon Shenton's advantage lies in its intermediate positioning—modern enough to attract premium tenants or owner-occupiers, yet established enough to avoid the price premiums attached to newly-launched developments.

Which unit stack or floor level represents the best value within Eon Shenton?

In the context of a 2-bedroom CBD condominium, mid-level units (approximately floors 10 to 20) typically offer the strongest balance of value and desirability. Lower floors (1 to 5) may suffer from street noise, reduced natural light, and reduced perceived prestige, often trading at a 5 to 8 percent discount relative to mid-levels. Higher floors (25+) command premiums of 10 to 20 percent due to enhanced views, quietness, and psychological prestige, though in the CBD precinct, views are often of commercial towers rather than scenic panoramas, limiting value premium justification. Mid-level units capture good light, minimal street noise, and fair sightlines without the premium pricing of penthouse-adjacent floors. Units facing away from Shenton Way's busiest thoroughfare, if positioned on the building's interior aspect, may offer superior peace at equivalent pricing. For investors, mid-level units tend to achieve better rental velocity because tenants perceive them as optimal—convenient via stairs or lift, quiet, and well-lit—without the premium costs of high-floor prestige. Consulting the building's floor layout and understanding which stacks face quieter lanes versus main roads will refine value perception further.

What is the future supply pipeline in the CBD zone, and how will it affect property values?

The Shenton Way and greater CBD zone is approaching maturity in terms of greenfield residential development, with most future supply likely coming from government-led urban renewal, collective sales of ageing developments, or infill conversion projects rather than large-scale new launches. The Urban Redevelopment Authority's Master Plan designates this area primarily for mixed-use and commercial purposes, limiting residential supply influx. However, several older condominium clusters in the vicinity remain potential collective-sale or redevelopment candidates, which could theoretically increase supply if acquisitions succeed. Conversely, tight supply underpins long-term value resilience; the scarcity of 2-bedroom units in the CBD in a market with sustained demand from upgraders and investors creates natural price floors. Government initiatives around Economic Development Boards and potential intensification of the Financial District may drive demand for residential stock, further supporting values. The broader Singapore property market is subject to potential interest-rate movements and macroeconomic conditions, which influence affordability and investment sentiment across all segments. For this specific property, constrained supply in the microlocale, combined with strong structural demand from the working-age population and limited alternative CBD residential options, suggests reasonable downside protection and moderate upside potential over a 10-year horizon, assuming no major economic dislocation or supply shocks from large redevelopment clusters.

Eon Shenton 2-Bed Condo S$1.78M | Tanjong Pagar MRT