Type

Units

Min Area

Price Range

1 BR

657 sqft

S$4,600/mo

3 BR

1302 sqft

S$7,000/mo

Property Highlights

Condo development with 2 units currently available.
Prices currently range from S$4,600 to S$7,000.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$920 on this acquisition.
Located 4 min (350 m) from EW15 Tanjong Pagar MRT Station.

Price Trends & Rental Yield

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Icon: Central Singapore Living at Tanjong Pagar

Icon stands as a residential offering positioned in the heart of Tanjong Pagar, one of Singapore's most vibrant and well-connected districts. Located at 10 Gopeng Street, the development captures the essence of central living with immediate proximity to the city's principal employment and lifestyle precincts. The address places residents within walking distance of Tanjong Pagar MRT Station (EW15), a mere 350 metres away, making commuting to the Central Business District and beyond exceptionally seamless for working professionals and business owners alike.

The Tanjong Pagar precinct has long represented one of Singapore's most desirable residential corridors, characterised by a blend of established charm and contemporary development. The surrounding neighbourhood offers a mature living environment with heritage shophouses, modern office complexes, and a thriving dining and entertainment scene. Icon's location ensures residents benefit from this established infrastructure while remaining within arm's reach of Singapore's commercial heartbeat, making it an attractive proposition for both owner-occupiers and investment-focused purchasers.

Connectivity and Transport Advantages

Proximity to Tanjong Pagar MRT Station elevates Icon's appeal considerably for commuters and frequent travellers. The East-West Line provides direct access to Jurong, Changi Airport, and the eastern precincts, whilst interchange stations nearby unlock connectivity to the North-South and Circle Lines. This multi-modal transport advantage translates into significantly reduced travel times for residents working across Singapore's primary business nodes, retail destinations, and educational institutions. The walkable distance to the station—approximately a four-minute stroll—ensures that daily commuting forms part of an active, pedestrian-friendly lifestyle rather than a motorised burden.

Beyond the MRT, Icon residents enjoy proximity to major road arteries including Cross Street and Maxwell Road, facilitating private vehicle access to all corners of Singapore. The neighbourhood's mature transport infrastructure has consistently supported property values and rental demand in the Tanjong Pagar area, a pattern likely to persist as the district continues to evolve.

Unit Composition and Configuration

Icon offers a selection of residential units across multiple bedroom configurations, enabling a broad spectrum of buyers to find appropriate accommodation within their preferred price bracket and lifestyle requirements. The development encompasses studios, one-bedroom, two-bedroom, and three-bedroom units, each designed to maximise functional living space and natural light. Unit sizes range across a spectrum accommodating different household compositions, from young professionals and couples to growing families seeking central-location convenience without sacrificing domestic comfort.

The variety in unit types means that investors can tailor their purchase strategy to specific market segments—whether targeting high-yielding compact units favoured by expatriate renters or larger family units appealing to upgraders seeking CBD-adjacent living. This compositional diversity strengthens the development's resilience against market fluctuations and rental demand cycles.

Market Position and Investment Appeal

Tanjong Pagar has established itself as a premium residential district commanding sustained rental and capital appreciation momentum. Icon's position within this corridor positions it favourably for investors seeking exposure to Singapore's core central location segment. The district benefits from consistent international and local demand, underpinned by its proximity to major employment centres, international schools, healthcare facilities, and leisure precincts. Rental yield potential for Icon units remains competitive relative to other similar central-location developments, supported by the established expatriate and professional renting population that favours Tanjong Pagar's convenient access to the CBD and entertainment districts.

For owner-occupiers, Icon represents an opportunity to secure living space in one of Singapore's most established and sought-after neighbourhoods, where the lifestyle proposition encompasses convenience, cultural richness, and urban vitality. The neighbourhood's maturity means that transport, retail, dining, and service infrastructure require no waiting period for development—residents occupy a fully operational district from day one of occupancy.

Neighbourhood Characteristics

The immediate vicinity surrounding Icon reflects the distinctive character of Tanjong Pagar—a neighbourhood where heritage conservation blends seamlessly with contemporary urban development. Shophouse rows showcase Singapore's architectural legacy, whilst modern office and residential buildings represent the district's evolution into a premium CBD-adjacent zone. The neighbourhood offers residents an eclectic array of dining establishments ranging from casual hawker fare to fine-dining restaurants, independent coffee shops, galleries, and design studios that define the area's cosmopolitan character.

Tanjong Pagar's evening and weekend atmosphere differs markedly from many other Singapore precincts, offering residents a neighbourhood that remains vibrant and engaging well beyond standard business hours. This ambient vitality supports both rental appeal and owner-occupier satisfaction, as residents enjoy a living environment that naturally attracts cultural activity, hospitality venues, and social gathering spaces.

Considerations for Buyers

Prospective purchasers of Icon units should evaluate their purchase within the context of central Singapore property dynamics. First-time homebuyers may find Icon offers an entry point into the prestigious Tanjong Pagar district, though the central location typically commands a premium relative to suburban alternatives. Upgraders transitioning from HDB or transitional private housing will appreciate the mature neighbourhood infrastructure and the minimised need for ongoing district development. Investors should factor rental market segmentation carefully, recognising that Tanjong Pagar draws both professional renters and expatriates, creating diverse tenant profiles and rental rate bands depending on unit type and specific positioning.

The Central Business District location means that Icon may appeal less to buyers seeking quieter, family-oriented neighbourhoods with parks and recreational facilities oriented towards children—Tanjong Pagar's character remains fundamentally urban and commercially oriented despite its residential offerings. Noise and activity levels typical of central Singapore should be weighed against the undeniable convenience and lifestyle advantages that justify the district's premium positioning.

Frequently Asked Questions

What rental yield can I expect if I purchase an Icon unit as an investment?

Icon's Tanjong Pagar location positions it within one of Singapore's highest-rental-demand precincts, supporting yields typically ranging between 3–4.5% annually depending on unit type, size, and specific market conditions at time of purchase. Smaller one-bedroom and studio units often command higher gross rental yields due to their affordability to younger professionals and expatriate renters, whereas larger family units tend to attract longer lease terms and more stable tenant profiles. The district's maturity and established tenant base—comprising both local professionals and international workers with CBD proximity requirements—create a resilient rental market that has weathered economic cycles more robustly than peripheral districts. However, yields will ultimately depend on your purchase price relative to prevailing market rentals; units acquired closer to peak pricing will generate lower yields than those purchased during market softening phases.

How does Icon's pricing per square foot compare to recent transactions in Tanjong Pagar?

Tanjong Pagar has consistently transacted within the S$1,200–S$1,800 psf range for residential apartments over the past two to three years, with variation reflecting unit size, floor level, and specific building prestige. Icon's positioning within this established district means its psf valuation should align broadly with this band, though exact pricing depends on individual unit specifications and current market momentum. Larger units typically trade at slightly lower psf rates than compact apartments, as developers and investors recognise economies of scale in estate management and rental marketing. Recent comparable sales in nearby developments suggest the district has maintained pricing resilience, with capital appreciation modest but steady. Prospective buyers should assess Icon's specific psf against recent arms-length transactions in similar-vintage buildings within a 500-metre radius to establish whether pricing reflects fair market value or district premium positioning.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I'm buying Icon as a second property?

Singapore Citizens purchasing a second residential property face an Additional Buyer's Stamp Duty of 20% on the purchase price, applied on top of standard Buyer's Stamp Duty. For an Icon unit purchased at S$1.0 million, for example, ABSD would total S$200,000, substantially increasing your total acquisition cost and reducing effective capital left for renovation, furnishing, or holding reserves. This 20% duty significantly impacts investment returns and cash-on-cash yield calculations, making the decision to purchase a second property more capital-intensive than a first purchase. Permanent Residents and foreigners face even higher ABSD rates, making Icon's valuation particularly attractive for first-time Singapore Citizen buyers seeking to enter the property market. Prospective second-property buyers should model ABSD explicitly into their financial planning, as this cost directly reduces the equity available for mortgage servicing and impacts overall investment feasibility.

Does Icon have lease decay risk, and how will this affect future resale value?

The lease tenure structure for Icon will fundamentally influence long-term resale dynamics and capital appreciation trajectory. If Icon units are offered on a 99-year leasehold basis, purchasers should be aware that lease decay becomes increasingly material as the lease term falls below 60 years remaining, with resale velocity and buyer interest typically declining as expiry approaches. Properties under 30 years remaining often struggle to attract mortgage financing, severely constraining the buyer pool. Conversely, if Icon is offered on a 999-year leasehold or Freehold basis, lease decay poses minimal practical concern for purchasers, supporting indefinite capital value preservation and transmission to heirs. Prospective buyers should explicitly confirm the lease tenure with their legal advisors and model the point at which lease decay might constrain future resale options—typically relevant only for 99-year leasehold properties purchased by buyers who intend holding beyond 30–40 years. For shorter-term investors and owner-occupiers planning to sell within 20 years, lease decay may remain a secondary consideration.

How does proximity to Tanjong Pagar MRT station affect Icon's capital appreciation and rental demand?

Proximity to an established MRT station materially enhances residential property capital appreciation and rental demand, and Tanjong Pagar MRT (EW15) represents one of Singapore's anchor transport nodes with three-decade-plus operational history. Icon's 350-metre distance to the station positions it within the highest-demand radius for MRT-proximate properties, typically supporting consistent rental enquiry from expatriate professionals and local commuters prioritising transport convenience. Capital appreciation in MRT-proximate precincts has historically exceeded peripheral properties by 20–30% over 10-year periods, as transport connectivity proves increasingly valuable as Singapore's population density rises and traffic congestion intensifies. The East-West Line's strategic positioning linking Changi Airport, the CBD, and western precincts means Tanjong Pagar MRT maintains importance across multiple traveller and commuter demographics. Property investors purchasing Icon units benefit from this established transport anchor—unlike emerging districts awaiting future MRT connectivity, the transport infrastructure supporting Icon is proven, mature, and unlikely to face material displacement by future transport infrastructure changes.

Which buyer profiles is Icon most suitable for—HNW individuals, upgraders, first-timers, or investors?

Icon appeals across multiple buyer segments, though suitability varies based on individual investment thesis and lifestyle priorities. First-time Singapore Citizen homebuyers find Icon's Tanjong Pagar location attractive as an entry into the prestigious central district, offering immediate lifestyle benefits and transport convenience without requiring a venture into outlying areas perceived as less established. Young professionals and expatriates seeking short-term rental accommodation represent a core demand driver, making Icon particularly suited for investor-purchasers targeting yield-focused strategies. Upgraders transitioning from HDB or other transitional housing appreciate the mature neighbourhood infrastructure and established amenities, avoiding the patient-waiting required in nascent housing estates. High-net-worth individuals may view Icon units as efficient additions to diversified property portfolios, capturing central Singapore exposure without the scale requirements of large residential developments. Each profile derives different value from Icon's positioning—transport convenience appeals across all segments, whilst lifestyle ambition and rental yield potential appeal disproportionately to younger professionals and investors respectively.

What TDSR and financing headroom apply at Icon's typical price points?

Total Debt Service Ratio (TDSR) limits constrain the quantum most buyers can borrow for Icon purchases, with most banks applying a 55% TDSR ceiling relative to gross monthly income. For an Icon unit at S$1.0 million purchase price with typical 80% loan-to-value financing, monthly mortgage servicing would approximate S$4,500–S$5,200 depending on prevailing interest rates and loan tenure. A buyer with monthly gross income of approximately S$9,000–S$10,000 could theoretically access this mortgage within TDSR constraints, though prudent buyers typically target TDSR ratios of 40–45% to retain emergency reserves and flexibility. The CBD-adjacent location and Tanjong Pagar's premium positioning mean Icon typically attracts buyers with professional incomes capable of absorbing these financing requirements without strain. First-time homebuyers should factor cooling measures applicable to their profile, as some bank products impose additional down-payment or interest-rate premiums on first-purchase transactions. Prospective buyers should obtain pre-approval from their preferred lender before committing to Icon unit selection, ensuring their specific income profile and liability situation support their intended purchase price.

How does Icon compare to nearby competing developments in Tanjong Pagar?

Tanjong Pagar hosts several other residential developments spanning multiple vintage periods, from heritage conservation projects converting shophouses into contemporary apartments to modern mixed-use developments. Icon's specific competitive positioning depends on its precise building age, finishes quality, and amenity provision relative to nearby alternatives such as established developments in the immediate precinct. Newer Icon units may command premiums over older conversions offering limited modern finishes, though heritage properties sometimes command heritage premiums offsetting age-related discounts. Icon's specific advantages or constraints relative to competitors should be evaluated by direct comparison of psf pricing, unit sizes, amenity offerings, and estate management quality. The Tanjong Pagar market benefits from multiple options at overlapping price points, giving buyers choice rather than market dominance by any single development. Prospective purchasers should inspect competing properties within Icon's price range, assessing whether Icon offers superior value or whether alternative nearby developments better suit their requirements. Agent networks and recent transaction data remain invaluable for benchmarking Icon against its direct competitors.

Which unit stack or floor levels offer optimal value within Icon?

Property value and appeal vary substantially by floor level within residential developments, with mid-level floors (typically 10th–25th level in taller buildings) often offering optimal pricing relative to prestige premium commanded by higher-level units. Lower floors may attract price discounts reflecting concerns over privacy, noise from street-level activity, and reduced views, yet they offer proximity advantages to lobbies, services, and ground-level amenities that appeal to purchasers with mobility considerations or those valuing convenience. Higher floors command premiums for superior views, reduced ambient noise, and perception of greater prestige, benefits that warrant price premiums primarily for owner-occupiers; investors often find mid-level units offer superior yield-to-price ratios. Within Icon's specific configuration, units with east or west orientations typically outperform north-facing units in Singapore's equatorial climate, as they receive direct sunlight at defined periods rather than diffuse light throughout the day. Corner units and units positioned away from lift lobbies and common area corridors often command incremental premiums. Prospective buyers should inspect multiple floor levels and positions within Icon before deciding, as perceived quality and personal preference often diverge from standardised premium assumptions.

What future supply pipeline exists in Tanjong Pagar district, and how might this affect Icon's value trajectory?

Tanjong Pagar is a fully developed, mature urban district where substantial new residential supply projects remain limited by land scarcity and heritage conservation constraints—the area lacks large vacant sites suitable for major residential developments. Future supply is likely to comprise selective redevelopment of ageing properties and potential intensification of mixed-use schemes combining retail, office, and residential components. This supply constraint provides positive long-term value support for Icon and other established developments, as new competition remains structurally limited. Conversely, the district faces ongoing office-to-residential conversion projects and adaptive reuse schemes that may fragment future supply into smaller, dispersed projects rather than competing large-scale developments. Urban renewal initiatives and potential evolution of heritage shophouses into premium serviced apartments could subtly shift the rental market composition, though Icon's apartment positioning insulates it from direct competition with these alternative formats. Prospective purchasers can reasonably expect Icon to maintain its market positioning without material displacement by massive nearby supply additions—a structural advantage relative to newer suburban precincts facing substantial development pipelines. Long-term capital appreciation prospects remain supported by this supply constraint, though annual appreciation rates should be modelled conservatively relative to emerging districts where scarcity premiums remain nascent.

[For Rent] Apartment At 10 Gopeng Street — From S$4,600