Type

Units

Min Area

Price Range

2 BR

700 sqft

S$1.8M – S$1.9M

3 BR

1066 sqft

S$2.9M

4 BR

1518 sqft

S$4.2M

Property Highlights

Condo development with 5 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: Riverside Living at the Heart of Clarke Quay

Union Square Residences stands as a distinguished residential offering on Havelock Road, one of Singapore's most coveted addresses for those seeking an urban lifestyle without compromise. Positioned within the vibrant Clarke Quay precinct, this development represents a rare opportunity to acquire a home in an established neighbourhood that blends cosmopolitan convenience with curated residential charm. The project's strategic location places it at the crossroads of business, leisure, and culture, making it equally appealing to owner-occupiers and savvy investors.

The development's proximity to Clarke Quay MRT Station (NE5 line) – a mere six-minute walk covering approximately 470 metres – delivers exceptional transit connectivity. This accessibility transforms the property into an ideal base for professionals working across the central business district, as well as for those who value seamless access to Singapore's broader public transport network. The station itself is a major interchange point, connecting residents directly to Dhoby Ghaut, Orchard, and beyond via the North-East Line, whilst remaining close to alternative interchange hubs.

Residence Design and Unit Mix

Union Square Residences offers thoughtfully designed residential units that maximise liveable space and natural light. The range includes 2-bedroom configurations positioned across multiple floor levels, catering to first-time buyers, upgraders, and investors seeking efficient, well-appointed homes. Unit floor areas cluster around the 710 square feet mark, a size that strikes an optimal balance between affordability and functionality for the central location. This floor plate efficiency is particularly valued in the Havelock Road precinct, where space premium is high but practical living remains paramount.

The layouts reflect contemporary Singapore design philosophy: open-plan living areas that flow naturally into dining spaces, well-proportioned bedrooms with adequate natural ventilation, and bathrooms finished to residential comfort standards. Such configurations appeal across multiple buyer demographics – young professionals establishing their first homes, families seeking a pied-à-terre close to workplaces, and investors targeting the robust rental market that characterises this catchment.

Investment Credentials and Market Position

For investment-minded buyers, Union Square Residences occupies a compelling market position. The Clarke Quay precinct has demonstrated consistent capital appreciation over the past decade, supported by limited new supply, strong demand for central urban living, and ongoing rejuvenation of the surrounding riverfront. Leasehold tenure is standard for developments in this area; whilst lease decay remains a consideration for properties held to maturity, the 99-year tenure typical of such developments in Singapore provides adequate investment horizon for most buyers. Properties at this location historically maintain strong resale demand even as lease length decreases, thanks to their central location and established neighbourhood prestige.

Rental yield prospects for Union Square Residences remain attractive, driven by consistent expat demand, corporate relocation trends, and the neighbourhood's proximity to major employers in the financial services, professional services, and technology sectors. The surrounding area attracts international schools, premium dining establishments, and lifestyle amenities that appeal strongly to tenants willing to pay premium rents for central riverside living. A 2-bedroom unit at this location typically achieves gross rental yields between 3% and 4% annually, with attractive tenant quality and low vacancy rates historically experienced in the precinct.

The Clarke Quay Factor: Transport, Employment, and Lifestyle

Clarke Quay MRT Station serves as far more than a transport node – it is the gateway to one of Singapore's most culturally rich and economically vibrant quarters. The station's location makes Union Square Residences a natural choice for professionals commuting to Marina Bay, Raffles Place, and the broader Central Business District. The North-East Line connection to Dhoby Ghaut opens direct access to Orchard Road's shopping and dining precinct within ten minutes, whilst southbound services link to the CBD and eastern growth corridors.

Beyond transport, the Havelock Road address places residents within the Singapore River precinct – a neighbourhood renowned for its careful preservation of heritage shophouses, contemporary waterfront dining, and cultural institutions. The Singapore History Museum, Clarke Quay's bars and restaurants, and the riverside promenade are all within comfortable walking distance. This lifestyle convenience represents a tangible value proposition that translates into sustained rental demand and resale strength.

Financial Considerations for Buyers

Prospective purchasers should account for Additional Buyer's Stamp Duty when acquiring Union Square Residences as a second residential property. Singapore Citizens purchasing a second home currently face an ABSD liability of 20%, which materially affects the effective acquisition cost. For example, a property valued at S$1.9 million would incur approximately S$380,000 in ABSD on top of the purchase price. This consideration is particularly relevant for upgraders or investors diversifying into the central precinct, and should be factored into financing and cash reserve planning alongside standard legal costs and agent fees.

From a financing perspective, the development's pricing typically sits within parameters that attract standard residential mortgage products from major Singapore banks. A buyer with a 25% down payment and 75% loan-to-value facility would achieve manageable debt servicing ratios for household incomes exceeding S$200,000 annually. The proximity to Clarke Quay MRT and the established nature of the neighbourhood support valuation stability and lender confidence, facilitating straightforward mortgage underwriting.

Competitive Positioning Within Havelock Road and Adjacent Precincts

Havelock Road and the broader Clarke Quay precinct host several other residential developments, though new supply at this micro-location remains constrained by land scarcity and conservation overlays. Union Square Residences competes indirectly with established developments such as those in the nearby Outram area and Alexandra Road corridor, though the Clarke Quay riverside positioning commands a meaningful premium. For buyers specifically seeking authentic riverside living with heritage charm rather than purely modern amenities, Union Square Residences offers distinct character advantages that newer suburban developments cannot replicate.

The nearby Boat Quay, Robertson Quay, and Tiong Bahru precincts offer alternative riverside options, yet Union Square Residences' direct MRT adjacency and proximity to major business districts provide superior transport efficiency compared to those alternatives. This transport advantage typically translates into higher rent capture and stronger occupier demand for both owner-occupied and investment scenarios.

Floor Level and Unit Selection Strategy

Within Union Square Residences, unit selection based on floor level and stack position influences both owner satisfaction and investment performance. Higher floors typically command rental premiums of 5% to 8% due to river views, reduced traffic noise, and perceived prestige – factors that resonate with both owner-occupiers and quality-conscious tenants in this market segment. Mid-range floors (levels 5 to 15) often represent optimal value, offering view appeal and quietness without the diminishing marginal utility of the highest levels. Lower floors may attract budget-conscious first-time buyers and investors willing to trade marginal view quality for better acquisition economics.

Future District Supply and Long-Term Outlook

The Clarke Quay and Havelock Road precinct is unlikely to experience significant new residential supply in coming years. The area is predominantly characterised by heritage conservation zones and established low-to-mid-rise developments, with limited vacant sites suitable for large-scale residential redevelopment. This supply constraint is a material positive for existing residential assets, as limited new competition preserves capital appreciation potential. The Singapore government's emphasis on preserving the Clarke Quay character and heritage fabric further supports the scarcity premium embedded in Union Square Residences and neighbouring properties.

The broader Outram Planning Area is experiencing gradual commercial and mixed-use intensification, with new business hubs and lifestyle destinations emerging within the 1- to 2-kilometre radius. These developments are unlikely to displace residential demand, and may instead reinforce the neighbourhood's appeal as a live-work-play destination. For investors with medium-to-long-term holding horizons, such demographic and economic tailwinds support optimistic outlooks for capital appreciation and sustained rental momentum.

Suitability Across Buyer Profiles

Union Square Residences appeals across multiple buyer archetypes. First-time buyers benefit from the central location, established neighbourhood character, and mortgage accessibility, though they should carefully evaluate ABSD implications if holding additional properties. Upgraders moving from suburban condominiums or HDB flats find the riverside positioning and transport connectivity compelling reasons to consolidate into a single central asset. High-net-worth individuals and expatriates seeking a Singapore base appreciate the lifestyle integration and transport efficiency, alongside the neighbourhood's cosmopolitan character and international amenities. Investment-oriented buyers, particularly those with 5+ year holding horizons, view the development as a stable rental generator with meaningful capital appreciation optionality, underpinned by supply scarcity and strong underlying demand.

Union Square Residences ultimately represents a sophisticated residential proposition for those who value location, convenience, and long-term capital stability above incremental square footage or sprawling floor plates. For buyers committed to central urban living within Singapore's most established riverside precinct, the development merits serious consideration.

Frequently Asked Questions

What is the realistic rental yield for a 2-bedroom unit at Union Square Residences if purchased as an investment property?

Units at Union Square Residences typically achieve gross rental yields between 3% and 4% annually, driven by strong demand from expatriates, corporate transferees, and international professionals seeking proximity to the Central Business District and major employment hubs. The Clarke Quay precinct commands rental premiums due to its established reputation, heritage character, lifestyle amenities, and direct MRT connectivity. Net yields after accounting for property tax, maintenance contributions, and sinking fund would typically range between 2.2% and 3.2%, depending on acquisition price and unit-specific positioning. Rental stability in this central precinct remains historically robust, with low vacancy rates and consistent tenant quality supporting reliable income generation over medium-to-long-term holding periods.

How do pricing and per-square-foot values at Union Square Residences compare to recent transactions in the Havelock Road and Clarke Quay area?

Union Square Residences is positioned within the premium tier for the Havelock Road micro-location, with per-square-foot pricing typically ranging between S$2,650 and S$2,900 depending on floor level, unit orientation, and view quality. This pricing reflects the neighbourhood's supply scarcity, heritage conservation status, and direct MRT adjacency. Recent comparable transactions in the broader Clarke Quay precinct have demonstrated steady appreciation, with established developments on neighbouring Boat Quay and Robertson Quay trading at similar or slightly higher per-square-foot multiples due to their riverside positioning. Union Square Residences offers relative value within this cohort whilst maintaining the convenience and connectivity advantages that justify the premium over suburban alternatives. Prospective buyers should benchmark against available comps in the immediate 100-200 metre radius to ensure acquisition economics align with neighbourhood standards.

What is the Additional Buyer's Stamp Duty (ABSD) impact for a Singapore Citizen purchasing Union Square Residences as a second residential property?

Singapore Citizens acquiring Union Square Residences as a second residential property currently incur ABSD at the rate of 20% on the purchase price. For a property valued at S$1.9 million, this equates to approximately S$380,000 in ABSD payable at completion. This material cost must be factored into total acquisition economics alongside legal costs, agent commissions, and mortgage setup fees. The ABSD obligation significantly affects the effective entry price and should be anticipated by upgraders trading out of existing primary residences or investors diversifying their property portfolio. Some buyers may benefit from exemptions or concessional rates under specific circumstances (such as acquiring alongside a spouse's first property), so consulting a tax advisor prior to commitment is prudent. This ABSD liability does not apply to first-time buyers purchasing their first residential property, nor to permanent residents or foreign nationals (subject to their own applicable duties).

Is lease decay a significant concern for long-term value retention at Union Square Residences?

Union Square Residences operates on a standard Singapore 99-year leasehold tenure, meaning lease decay represents a gradual consideration over very long holding periods but is not an acute risk for investors with 15-25 year horizons. Historical evidence suggests that properties in the Clarke Quay precinct – a conservation area with strong heritage and cultural significance – maintain robust resale demand and pricing resilience even as lease length diminishes below 80 years. The supply scarcity, central location, and established neighbourhood character act as buffers against lease-driven value erosion. However, buyers acquiring units with remaining lease already below 85 years should factor in potential refinancing challenges and modest annual depreciation in later holding stages. The development's premier positioning and limited competing supply within the catchment suggest that lease renewal or strata title restructuring may become feasible policy options well before acute decay impacts market value.

How does proximity to Clarke Quay MRT Station (NE5) affect capital appreciation potential and long-term demand for Union Square Residences?

The six-minute walk to Clarke Quay MRT Station (approximately 470 metres) is a material value driver for Union Square Residences, supporting both occupier demand and capital appreciation trajectory. MRT adjacency at a major interchange node ensures sustained interest from commuters, international professionals, and investors seeking transport-efficient living. The North-East Line connection to key employment and lifestyle nodes – Dhoby Ghaut, Orchard Road, and the CBD – reinforces the development's appeal across buyer demographics. Historically, properties within 400-600 metres of established MRT stations in central Singapore have demonstrated superior capital appreciation versus peripheral locations, particularly in scarce supply precincts like Clarke Quay. The station's ongoing role as a transport and cultural hub (with restaurants, bars, and attractions clustered nearby) further supports sustained footfall, vibrancy, and perceived value. Transport connectivity improvements to the broader North-East Line network would further enhance this advantage, making MRT proximity a fundamental long-term asset for Union Square Residences.

Which buyer profiles – first-timers, upgraders, high-net-worth individuals, or investors – are best suited to Union Square Residences?

Union Square Residences appeals effectively across multiple buyer archetypes, though each profile should evaluate different considerations. First-time buyers benefit from the established neighbourhood character, straightforward mortgage access, and central location convenience, though they should anticipate that 2-bedroom units at Havelock Road may represent the upper end of first-buyer budgets and require careful debt servicing assessment. Upgraders moving from suburban condominiums or HDB flats find the riverside positioning, transport connectivity, and heritage lifestyle compelling reasons to consolidate into a single central asset. High-net-worth individuals seeking a Singapore base value the cosmopolitan character, international amenities within walking distance, and property's discretion and prestige. Investors with 5+ year horizons view the development as a stable rental generator with meaningful capital appreciation optionality, underpinned by supply scarcity and strong underlying occupier demand. The development's relatively compact floor plate (circa 710 sqft) makes it less suitable for family upgraders requiring multiple bedrooms, but ideal for professionals, couples, and downsizers prioritising location and lifestyle over internal square footage.

What debt servicing ratio (TDSR) and financing headroom should buyers anticipate at Union Square Residences price points?

A typical 2-bedroom unit at Union Square Residences valued around S$1.9 million, financed at 75% loan-to-value (S$1.425 million over 25 years at approximately 3.5% interest), would incur monthly mortgage servicing of approximately S$6,800. The Monetary Authority of Singapore's Total Debt Servicing Ratio (TDSR) limit of 60% means buyers should target gross household monthly income of at least S$11,300 to comfortably accommodate this mortgage alongside other liabilities. Buyers with household incomes in the S$200,000+ annual range (approximately S$16,700+ monthly) would typically achieve TDSR ratios of 40-45%, leaving meaningful headroom for discretionary spending and resilience to rate increases. First-time buyers should note that TDSR is more stringently applied than standard debt-to-income multiples, and some banks may require evidence of adequate liquid reserves given the property's premium pricing. Purchasers considering ABSD implications should factor the S$380,000 ABSD liability into down payment requirements, potentially necessitating 35-40% total capital reserves rather than the standard 25% equity contribution.

How does Union Square Residences compare to competing developments in Outram, Alexandra Road, and other nearby precincts?

Union Square Residences occupies a distinct position within the broader Outram and Clarke Quay precinct, with few directly comparable alternatives due to supply scarcity and conservation overlays protecting the Havelock Road character. Competing developments in the Outram area and Alexandra Road corridor typically offer larger floor plates and newer amenity suites but lack the riverside positioning and heritage charm that define Clarke Quay. Boat Quay and Robertson Quay developments offer alternative riverside options but generally lack the direct MRT adjacency and transport efficiency provided by Clarke Quay Station. Properties in Tiong Bahru, whilst charming and culturally distinctive, lack the professional employment density and international amenity infrastructure concentrated around Clarke Quay. From a pricing perspective, Union Square Residences typically trades at a modest premium (5-10% per square foot) relative to competing non-riverside options in Outram, a premium justified by location specificity and supply scarcity. For buyers specifically prioritising authentic riverside living integrated with MRT connectivity and central business district proximity, Union Square Residences offers superior positioning relative to suburban alternatives or more distant precincts.

Are particular floor levels or unit stacks at Union Square Residences considered better value or more desirable for capital appreciation?

Within Union Square Residences, unit positioning materially influences both occupier appeal and investment returns. Higher floors (levels 12+) typically command rental premiums of 5-8% and resale valuation advantages of 3-6%, primarily due to river views, reduced traffic noise, and perceived prestige – factors that resonate strongly with quality-conscious tenants and upgrader purchasers in this market segment. Mid-range stacks (floors 6-12) often represent optimal value equilibrium, offering meaningful view quality, quietness, and natural light without the diminishing marginal utility and scarcity premium of the highest floors. Lower floors (levels 1-5) may appeal to price-sensitive first-time buyers and value-focused investors, though rental capture and resale appreciation may lag higher-floor equivalents by 3-5% annually over extended holding periods. Corner units and those with unobstructed river or Clarke Quay vistas command measurable premiums relative to standard layouts. For investors prioritising rental yield and tenant appeal, mid-to-high floor positions (floors 8-14) with eastern or northern exposures typically balance acquisition cost, annual appreciation, and rental attractiveness most effectively.

What is the outlook for future residential supply in the Clarke Quay and Outram planning area, and how does this affect Union Square Residences' long-term value proposition?

The Clarke Quay and Havelock Road precinct is unlikely to experience significant new residential supply over the next 10-15 years due to heritage conservation designations, limited vacant development-ready sites, and the government's strategic focus on preserving the area's unique character and cultural significance. This supply constraint is materially positive for existing residential assets, as limited new competition removes downward pricing pressure and preserves the neighbourhood's scarcity premium. The broader Outram Planning Area is experiencing gradual commercial and mixed-use intensification, with new office, retail, and F&B destinations emerging within the 1-2 kilometre radius, but these developments are unlikely to displace residential demand – rather, they may enhance neighbourhood vibrancy and support stronger long-term occupier interest. The government's ongoing investment in Clarke Quay's public realm, including riverfront improvements and cultural programming, suggests continued strategic commitment to the precinct's development as a premier destination. For Union Square Residences buyers with medium-to-long-term horizons, the combination of supply scarcity, demographic tailwinds favouring central living, and sustained employment concentration in the CBD provides a supportive backdrop for capital appreciation and rental demand resilience over the next 15-20 years.

Condominium At 28 Havelock Road — From S$1.8M