Type

Units

Min Area

Price Range

2 BR

700 sqft

S$1.8M – S$2.2M

4 BR

1518 sqft

S$4.2M – S$4.2M

Property Highlights

Condo development with 10 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.
99-year Leasehold.
Located 6 min (470 m) from NE5 Clarke Quay MRT Station.

Price Trends & Rental Yield

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Union Square Residences: Premium Living in Singapore's Preeminent Business District

Union Square Residences stands as a landmark addition to Singapore's most vibrant urban quarter, occupying a prime address at 28 Havelock Road in the heart of District 1. This 40-storey residential tower comprises 366 meticulously designed homes developed by City Developments Limited, one of Asia's most respected property groups. The development forms the residential centrepiece of a larger mixed-use precinct that seamlessly integrates a 20-storey Grade A office tower, contemporary retail outlets, food and beverage establishments, and beautifully preserved conservation shophouses—creating a complete lifestyle ecosystem at a single prestigious address.

The location offers unparalleled connectivity to Singapore's financial and cultural heartland. Residents benefit from proximity to Clarke Quay, Chinatown and Fort Canning MRT stations, each within easy reach on foot or via brief transport links. The development's immediate surroundings encompass the Central Business District, the vibrant entertainment precincts of Robertson Quay, and the sprawling attractions of Marina Bay. This confluence of office, retail, hospitality and leisure amenities makes Union Square Residences uniquely suited to discerning purchasers who value both convenience and prestige in their residential choice.

Architecture and Interior Design Philosophy

The residential tower showcases a sophisticated modern aesthetic that complements the heritage character of Singapore's historic shophouse districts. Each unit has been conceived with careful spatial planning that maximises natural light through floor-to-ceiling windows and strategically positioned balconies. The interior palette emphasises premium materials, with wood-tone cabinetry, marble-textured surfaces and contemporary smart-home integration creating an ambiance reminiscent of luxury hotel residences. Kitchens are appointed with dedicated provisions for integrated appliances, including spaces for washing machines and dryers, reflecting modern household requirements.

Unit layouts across the development range in configuration and size, with options featuring distinct study areas, dual ensuite bathrooms and additional living zones. This architectural flexibility ensures that occupants across different life stages—whether young professionals, established families or downsizers—can find accommodation that aligns with their specific domestic requirements. Air-conditioning ledges and split-unit provisions throughout underscore the practical climate considerations inherent in tropical residential design.

Sustainability and Smart-Living Features

Union Square Residences incorporates forward-thinking environmental strategies that reduce operational carbon intensity whilst enhancing resident comfort and utility efficiency. The building's facade utilises solar-conscious design principles that minimise heat gain during peak afternoon hours, reducing reliance on mechanical cooling. LED lighting systems throughout common areas and select units feature motion-sensor technology, automatically extinguishing illumination when spaces are unoccupied. Water conservation is prioritised through low-flow fixtures in bathrooms and kitchens, collectively reducing fresh-water consumption compared to conventional residential installations.

Mechanical systems including regenerative-drive lifts capture and redistribute energy during descent, whilst dual recycling chutes on each floor facilitate comprehensive waste separation at the point of disposal. Smart-home integration allows residents to monitor and control lighting, climate and security systems remotely, optimising both convenience and energy performance. These features collectively position Union Square Residences as an environmentally conscientious choice for buyers prioritising long-term sustainability and reduced household operating costs.

Investment Credentials and Market Position

The development's location within District 1—Singapore's preeminent commercial and financial hub—underpins strong fundamentals for both owner-occupancy and investment purposes. The proximity to major office clusters, international financial institutions and multinational corporate headquarters generates sustained demand for executive and professional housing. Rental yields in this precinct historically reflect the purchasing power of Singapore's expatriate talent pool and high-income local professionals, creating resilient demand-supply dynamics even during cyclical economic moderation.

Capital appreciation prospects are supported by several structural factors. The scarcity of new residential supply in District 1, combined with ongoing regeneration of the broader Havelock Road corridor, suggests limited competitive pressure from alternative new launches in the immediate vicinity. The mixed-use nature of the Union Square precinct—incorporating office, retail and hospitality components—creates a self-contained economic ecosystem that generates foot traffic, vibrancy and long-term value accretion. Properties in this location have consistently demonstrated resilience during property market cycles, reflecting the enduring appeal of proximity to Singapore's financial and cultural nucleus.

Targeting Multiple Buyer Profiles

Union Square Residences accommodates a diverse range of buyer objectives. High-net-worth individuals seeking a prestigious primary residence benefit from the development's uncompromising build quality, location cachet and seamless integration with Singapore's most desirable commercial and leisure precincts. Upgraders transitioning from older Housing & Development Board flats or smaller private apartments find in Union Square a logical next step, offering substantially enhanced space, finishes and amenities within a walkable, well-established neighbourhood. Young professionals and expatriate employees posted to Singapore's financial sector find the location ideal, eliminating lengthy commutes and placing them at the geographic and social centre of their working lives.

Investors purchasing additional residential properties benefit from the development's strong rental-yield credentials and long-term capital appreciation trajectory. The 99-year leasehold tenure provides sufficient runway for substantial value realisation, whilst the established nature of the District 1 location ensures that future lease decay remains many decades away. Purchasers should note that acquisition of this property as a second residential holding triggers Additional Buyer's Stamp Duty at 20% for Singapore Citizens, a material cost that must be factored into total acquisition outlay and held-to-yield calculations.

Planning Considerations and Market Context

Prospective purchasers should recognise that Union Square Residences enters a market where District 1 supply remains genuinely constrained relative to demand. Future residential launches in the immediate vicinity appear limited, with available development sites largely committed to office and mixed-use uses aligned with Singapore's broader economic strategy. This supply scarcity supports the long-term appreciation case for units acquired at the current stage of the development cycle.

The 99-year leasehold tenure, whilst not freehold, represents an entirely standard and acceptable tenure for prime Singapore residential property. The development's positioning within Singapore's most durable and economically anchored location—the financial and business heart of the island—means that lease decay risk remains negligible across reasonable investor time horizons. Properties in District 1 have demonstrated remarkable resilience and value retention even at 20+ years remaining on their leases, with the location's inherent prestige offsetting any theoretical residual-value concerns.

Union Square Residences ultimately represents a compelling proposition for buyers—whether owner-occupiers or investors—seeking to secure a presence in Singapore's most prestigious and economically anchored residential quarter. The combination of architectural quality, location exclusivity, integrated amenities and long-term value prospects positions the development as a landmark residential offering suitable for discerning purchasers across multiple buyer profiles and investment objectives.

Frequently Asked Questions

What rental yield might I expect if I purchase a unit at Union Square Residences as an investment property?

Rental yields at Union Square Residences are supported by sustained demand from Singapore's expatriate professional talent and high-income local executives seeking accommodation near the Central Business District. District 1 properties historically command monthly rents ranging from S$4,500 to S$8,500+ depending on unit size and finishes, translating to gross yields of approximately 2.5% to 3.5% per annum on acquisition cost. The development's proximity to major office clusters, financial institutions and multinational headquarters—combined with seamless integration of retail, F&B and lifestyle amenities—creates a self-contained ecosystem that generates consistent tenant demand. Purchase as a second residential property triggers 20% Additional Buyer's Stamp Duty, so net yield must be calculated after accounting for this material cost. The mixed-use nature of the precinct, anchored by a Grade A office tower and heritage retail, ensures ongoing tenant demand resilience even during cyclical economic slowdowns.

How does the price per square foot at Union Square Residences compare to recent comparable transactions in District 1?

Union Square Residences pricing reflects the current market premium commanded by genuinely new residential supply in District 1, where new launches have become increasingly rare over recent years. Recent transacted prices in the Havelock Road and surrounding District 1 addresses have ranged broadly from approximately S$8,500 to S$12,000 per square foot, depending on unit size, floor level, orientation and finish specification. The development's positioning as a landmark mixed-use offering by an established major developer typically supports pricing at the higher end of this range, particularly for units with premium finishes and superior sight lines. Comparing specific unit types across multiple recent sales in the immediate vicinity provides the most reliable benchmark; unit mix differences across developments mean that aggregate pricing comparisons can mask significant variation by specific room configuration. Purchasers should obtain recent arm's-length comparable sales data from District 1 within the past 6 months to establish personalised valuation context for units that match their desired typology and floor position.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I am a Singapore Citizen purchasing this as my second residential property?

Singapore Citizens acquiring Union Square Residences as a second residential property are subject to Additional Buyer's Stamp Duty at the current rate of 20% on the purchase price, applied in addition to the standard Buyer's Stamp Duty of 1%. On a purchase price of S$2.18 million, this equates to approximately S$436,000 in ABSD liability alone, materially increasing total acquisition cost beyond the headline sale price. This duty is non-recoverable and significantly impacts net yield calculations for investment purchases and overall affordability for upgraders stepping into the second property bracket. First-time homebuyers and non-citizens are exempt from ABSD, making the development comparatively more attractive to these cohorts on a total-cost basis. Purchasers must incorporate the 20% ABSD into financing calculations and ensure that mortgage serviceability remains within acceptable debt-service ratios when ABSD is included in total borrowing requirement. Professional tax and legal advice is essential to optimise structuring of the purchase and understand any available reliefs or deferral mechanisms.

What is the lease decay risk for a 99-year leasehold property, and how might it affect long-term resale value?

Union Square Residences operates on a 99-year leasehold tenure, which is the standard and universally accepted lease duration for Singapore residential property and does not present material decay risk across reasonable investor or owner-occupier time horizons. At purchase, a new 99-year lease provides approximately nine decades of economic life, meaning that lease decay becomes a meaningful financial consideration only when residual tenure falls below 30 years—a timeline likely 60+ years hence. The development's location within District 1, Singapore's most durable and economically anchored residential precinct, means that properties here have demonstrated exceptional resilience and value retention historically, even when approaching lower lease durations. Moreover, Singapore's legal framework permits en bloc collective sale of condominium buildings to developers, allowing leaseholders to refresh lease tenure by participating in redevelopment—a mechanism that has successfully extended economic life of aging District 1 properties multiple times. Current market evidence shows that prime District 1 addresses retain strong capital values even at 25–30 years remaining on lease, supported by the location's enduring prestige and scarcity. For practical purposes, a 99-year lease at Union Square Residences presents no meaningful lease decay constraint for the next 50+ years, comfortably spanning typical investment holding periods.

How does proximity to Clarke Quay, Chinatown and Fort Canning MRT stations affect demand and capital appreciation potential?

The MRT accessibility at Union Square Residences is one of its primary value drivers, with Clarke Quay MRT (North-East Line) situated approximately 470 metres distant—roughly a 6-minute walk—whilst Chinatown and Fort Canning stations remain within similarly convenient reach on foot or by brief transport linkage. This multi-station proximity eliminates single-point-of-failure transport risk and provides exceptional flexibility for commuting to employment across the entire island. The North-East Line connection to Clarke Quay feeds directly to Dhoby Ghaut and Marina Bay stations, whilst Fort Canning and Chinatown stations on the Circle Line provide alternative routing and redundancy. This transport accessibility is a primary driver of sustained tenant and purchaser demand, particularly for expatriate professionals and high-income local executives whose employment locations may shift during tenure. Properties with multiple nearby MRT stations command persistent premiums in capital markets and rental valuations, as they eliminate reliance on private vehicle ownership and position occupants at the geographic centre of Singapore's economic life. The strong and enduring MRT accessibility at Union Square Residences provides durable support for long-term capital appreciation, as transport infrastructure investment further densifies the CBD and surrounding precincts over coming decades.

Is Union Square Residences suitable for owner-occupiers upgrading from an HDB flat, or is it primarily an investor development?

Union Square Residences caters comprehensively to owner-occupiers upgrading from Housing & Development Board accommodation, offering substantially enhanced space, finishes, security and shared amenities relative to public housing. The development's variety of unit configurations—ranging from compact two-bedroom formats to larger residences with study areas and multiple ensuite bathrooms—enables upgraders to find configurations suited to different family structures and domestic requirements. For HDB upgraders, the transition to a premium private apartment in a mixed-use precinct offering integrated retail, F&B and office amenities represents a qualitative lifestyle advancement, with the location's Central Business District proximity benefiting commuting convenience for professionals working in financial services, law, consulting and corporate sectors. The 99-year leasehold tenure and District 1 location provide certainty regarding long-term value retention, important for first-time private apartment buyers transitioning from subsidised public housing. However, purchasers must acknowledge that acquisition as a second residential property (if they retain the HDB or own other property) triggers 20% ABSD, materially increasing total acquisition cost. For many HDB upgraders, Union Square Residences positioning as a genuine owner-occupier home—combined with location prestige and integrated lifestyle amenities—makes it compelling despite ABSD considerations, particularly for high-earning professional households seeking to establish a primary residence in Singapore's most desirable central location.

What TDSR (Total Debt Servicing Ratio) headroom should I expect at typical Union Square Residences price points, and how much capital is required?

Prospective purchasers at Union Square Residences should anticipate a typical loan-to-value ratio of 75–80% for well-qualified Singapore Citizens with strong employment credentials, meaning approximately S$1.64–1.74 million in mortgage financing on a S$2.18 million unit acquisition. At current mortgage rates (typically 3.5–4% on a fixed-rate package), monthly mortgage servicing would range from approximately S$7,500 to S$8,500, placing TDSR burden at roughly 50–60% of gross household income (assuming standard debt-service thresholds of 60% maximum). This implies that acquiring an apartment at Union Square typically requires household income of approximately S$150,000+ per annum to maintain conservative TDSR ratios, assuming no material additional liabilities or dependents. Purchasers must also factor the 20% Additional Buyer's Stamp Duty (approximately S$436,000 on a S$2.18 million transaction) into initial capital requirements, as this duty is due upon completion and cannot be financed. Total initial capital requirement—comprising down payment (20–25% of price) plus ABSD, legal fees, and survey costs—typically ranges from S$580,000 to S$650,000 for a typical District 1 acquisition. Borrowers with multiple existing properties or liabilities should seek specific pre-approval from mortgage providers, as TDSR calculations become more complex with non-standard borrowing profiles. Professional financial advice is essential to establish precise mortgage headroom at individual purchase price points.

How does Union Square Residences compare to nearby competing developments such as those at River Valley Road or the CBD fringe?

Union Square Residences occupies a genuinely unique market position within District 1, lacking direct architectural or positioning competitors in the immediate Havelock Road vicinity due to constrained supply of new residential launches in this precinct. The development's principal competitive set comprises older resale apartments at Clarke Quay, Riverside and Robertson Quay (typically commanding lower premiums but offering older finishes), plus newer developments at slightly greater distances such as River Valley or fringe CBD locations further south. Compared to River Valley Road alternatives, Union Square offers superior MRT accessibility (multiple nearby stations) and integration with a Grade A office and retail precinct, creating a more complete lifestyle ecosystem than standalone residential towers. The mixed-use positioning—incorporating office, retail and F&B—provides Union Square with enduring tenant demand and foot-traffic generation that residential-only developments lack, supporting long-term viability and capital appreciation. Older resale stock at Clarke Quay and Robertson Quay may offer lower entry prices but sacrifices modern finishes, smart-home integration and the durability of 99-year tenure from commencement. For purchasers prioritising new construction, contemporary finishes and integrated mixed-use amenities within Singapore's most durable and economically anchored location, Union Square Residences presents compelling value relative to the limited array of genuine competitive alternatives at comparable location prestige.

Which unit stacks, floor levels or orientations typically offer the best value for money at Union Square Residences?

Within the 40-storey tower at Union Square Residences, unit values vary materially by floor level, orientation and stack position, creating genuine opportunity for value-conscious purchasers to optimise acquisition pricing. Lower to mid-range floors (typically levels 8–20) frequently command modest premiums relative to higher floors, with mid-range acquisition representing a practical balance between view premiums and value for money. North or north-west facing units typically command lower premiums than south and south-east orientations in Singapore's tropical climate, as they experience reduced solar heat gain and offer views toward the CBD and Marina Bay rather than residential hinterland. Corner or end-stack units commanding premium pricing for enhanced views and dual-aspect natural light may not deliver proportional value improvement for owner-occupiers prioritising primary residence utility over investment-oriented view appreciation. Conversely, internal-stack units on higher floors (28+) frequently offer excellent value, as occupants gain elevation benefits without incurring the maximum view-premium pricing commanded by corner positions. Prospective purchasers should physically inspect units at varying heights and orientations to establish personal preference, recognising that perceived value premium for views may exceed actual capitalised rental-yield improvement. Professional valuation guidance specific to precise floor levels and orientations provides essential context for optimising acquisition value within total development pricing parameters.

What is the future residential supply pipeline in District 1, and how might this affect long-term value appreciation at Union Square?

District 1 residential supply remains exceptionally constrained relative to sustained demand, with available development sites largely committed to office, mixed-use and complementary commercial uses aligned with Singapore's broader economic strategy of reinforcing CBD commercial density and clustering. Future residential launches of comparable scale and location prestige in the immediate District 1 vicinity appear genuinely limited over the next 10+ years, positioning Union Square Residences as a singular new-supply offering unlikely to face material competitive pressure from proximate alternative developments. The broader Singapore residential new-launch pipeline shows accelerating supply concentration outside District 1, with major new developments predominantly sited in Jurong, Tampines, Marina Bay fringe and other growth areas—geographically distant from Union Square's Central Business District and professional employment concentration. This supply-demand imbalance substantially supports the long-term capital appreciation case for Union Square, as constrained new supply in Singapore's most economically anchored location ensures that property values remain supported by ongoing institutional, corporate and expatriate demand. Purchasers acquiring Union Square units at the current development stage benefit from first-mover advantage relative to future prospective residents competing for scarce District 1 supply in subsequent market cycles. The absence of meaningful future residential competition in the immediate Havelock Road vicinity materially strengthens long-term value appreciation prospects and rental-demand sustainability for all unit typologies throughout the development.

Condominium At 28 Havelock Road — From S$1.8M