Type

Units

Min Area

Price Range

2 BR

990 sqft

S$1.7M

Property Highlights

Condo development with 2 units currently available.
Prices currently start from S$1.7M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$334K on this acquisition.
Located 9 min (770 m) from TE23 Tanjong Rhu MRT Station.

Price Trends & Rental Yield

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Costa Rhu: Tanjong Rhu's Defining Waterfront Address

Costa Rhu stands as one of Singapore's most recognisable waterfront landmarks, anchoring the eastern edge of Tanjong Rhu's skyline. Situated at 3 Rhu Cross, this established condominium development represents a rare opportunity to acquire property within a storied enclave that has witnessed Singapore's transformation over decades. The development commands a prestigious address in District 15, where landed-estate tranquility coexists with proximity to major urban amenities, employment hubs, and recreational destinations that define contemporary Singapore living.

Location and Connectivity

Positioned a nine-minute walk (approximately 770 metres) from Tanjong Rhu MRT Station on the TE line, Costa Rhu occupies a strategically advantageous transport node. The TE line directly connects residents to Marina Bay, Orchard, and the eastern corridor, facilitating seamless commutes to the Central Business District and retail precincts. Beyond current transport infrastructure, the forthcoming Founders' Memorial precinct at Bay East Garden will introduce an additional dedicated TEL station at TE22A, effectively placing Costa Rhu within metres of this transformative national landmark set to open in 2028. This imminent infrastructure investment is expected to substantially elevate the accessibility and investment appeal of the wider Tanjong Rhu district.

The development's proximity to the Singapore Sports Hub, Kallang waterfront promenade, and Gardens by the Bay East creates an unparalleled lifestyle ecosystem for residents. The East Coast Parkway and Kallang-Paya Lebar Expressway are mere minutes distant, enabling rapid transit to the eastern reaches of Singapore and onward connectivity to the wider island. This convergence of public transport, recreational facilities, and expressway access positions Costa Rhu as a uniquely connected address for both professionals and families seeking balanced urban living.

Architectural Heritage and Waterfront Prestige

Costa Rhu's enduring presence in Singapore's property landscape reflects both its architectural pedigree and its role in the Tanjong Rhu waterfront narrative. The development's front-row positioning along Rhu Cross affords unobstructed vistas of the precinct's verdant landscaping and the broader Kallang Basin. Residents benefit from the established maturity of the neighbourhood, where tropical vegetation, waterfront promenades, and low-density residential character create a sense of escape from the intensity of central Singapore, despite the proximity to major commercial and entertainment districts.

Unit Specifications and Finishes

Current offerings at Costa Rhu commence from approximately S$1.67 million, with units ranging from two-bedroom, two-bathroom configurations in the 990 square-foot bracket upwards. Available units showcase contemporary interior appointments, including marble flooring, designer lighting, modern cabinetry with quartz countertops, integrated kitchen appliances, and full-height built-in storage solutions. Many units benefit from recent or ongoing renovation programmes, positioning them as move-in ready residences requiring minimal outlay for personalisation or remedial works. Bay windows throughout the development frame views of the surrounding greenery, cultivating a resort-like ambiance whilst maintaining the convenience of a central urban address.

The Founders' Memorial and District Evolution

The Founders' Memorial, scheduled to open within the Bay East Garden precinct in 2028, represents a significant milestone for the Tanjong Rhu district and, by extension, for Costa Rhu residents. This national landmark will occupy the immediate vicinity of Rhu Cross itself, establishing Costa Rhu as the closest residential community to this culturally significant development. The associated TEL extension and enhanced public realm investment are anticipated to drive sustained appreciation across the broader district, attracting demographic segments seeking heritage-proximate, well-connected addresses. The transformation of Bay East into a destination combining memorial, horticultural, and transport infrastructure will fundamentally reshape resident and visitor patterns across the eastern waterfront.

Investment Thesis and Market Position

For purchasers evaluating Costa Rhu within an investment framework, the development's established heritage, imminent infrastructure upgrades, and waterfront positioning create compelling medium to long-term fundamentals. The district's evolution towards a cultural and recreational hub, anchored by the Founders' Memorial and enhanced by the TEL connection, is expected to sustain demand from both owner-occupiers and investors. The availability of units in move-in condition minimises capital expenditure for rental operations, whereas the appeal of the location to both tourists visiting the Founders' Memorial and professionals commuting via improved public transport suggests resilient rental demand across multiple tenant profiles.

The development's maturity also means that unit availability is typically dependent on owner sales or lease terminations rather than new-build release schedules, which can concentrate purchasing activity and potentially support value appreciation during periods of strong market sentiment. Conversely, the established nature of the stock implies that unit quality and finish standard can vary, making careful selection of individual properties essential for both occupiers and investors.

Neighbourhood Character and Lifestyle

Residents of Costa Rhu inhabit a neighbourhood that balances waterfront tranquility with downtown accessibility. The Kallang waterfront precinct offers jogging and cycling routes, riverside dining, and recreational facilities that appeal to active lifestyles. Gardens by the Bay East, with its horticultural displays and family-friendly attractions, is an easy stroll away. Simultaneously, the Singapore Sports Hub hosts international events and provides fitness and wellness amenities. This juxtaposition of relaxation and activity makes Costa Rhu particularly attractive to professionals and families seeking both escape and engagement.

District 15's character reflects Singapore's evolution from industrial heritage to lifestyle-oriented urban villages. The presence of landed properties in adjacent areas, combined with the waterfront setting, creates a sense of spaciousness and greenery unusual for central Singapore. Yet this peaceful setting remains firmly connected to the wider city via multiple transport modes and is merely minutes from commercial, retail, and entertainment precincts across the Eastern Corridor and towards Marina Bay.

Market Outlook

As the Founders' Memorial precinct moves towards completion and the TEL extension becomes operational, Costa Rhu is well-positioned to benefit from enhanced visibility, improved connectivity, and sustained demand from both end-users and investors. The development's proximity to this national landmark, combined with its established reputation and waterfront prestige, suggests that the property market will continue to regard Costa Rhu as a premium address within District 15. For prospective purchasers, the current availability of units at the S$1.67 million entry point and above represents an opportunity to acquire a piece of Singapore's waterfront heritage at a moment of significant district transformation.

Frequently Asked Questions

What is the estimated rental yield for investment purchases at Costa Rhu?

Rental yields at Costa Rhu typically range from 3% to 4% gross, depending on unit configuration, finish standard, and the specific floor level. Two-bedroom units in the S$1.67 million to S$2.2 million bracket command monthly rents of S$5,500 to S$7,500, making annual yields competitive for waterfront District 15 properties. The appeal of the development to expatriate professionals, tourists visiting the upcoming Founders' Memorial, and upgrading local families suggests a diversified tenant pool, which may support rental resilience across economic cycles. Move-in ready units at Costa Rhu significantly reduce the capital outlay required before generating rental income, enhancing the cash-on-cash return for investors compared to developments requiring renovation prior to letting.

How does Costa Rhu's per-square-foot pricing compare to recent transactions in Tanjong Rhu?

Costa Rhu's pricing typically ranges from approximately S$1,690 to S$2,250 per square foot across current offerings, reflecting the premium associated with waterfront positioning, established heritage, and proximity to the upcoming Founders' Memorial precinct. Recent transacted units in the broader Tanjong Rhu district have demonstrated per-square-foot values between S$1,550 and S$2,100, indicating that Costa Rhu commands a modest premium attributable to its front-row waterfront location and move-in ready condition of many available units. This pricing differential has remained relatively stable over the past 18 months, suggesting market recognition of the development's specific advantages within the district. Comparable waterfront developments such as those further east along the Kallang Basin typically transact at S$1,800 to S$2,300 per square foot, contextualising Costa Rhu's positioning within the upper-mid-range of the District 15 waterfront segment.

What are the Additional Buyer's Stamp Duty (ABSD) implications for second-property purchases at Costa Rhu?

Singapore Citizens acquiring a second residential property at Costa Rhu are subject to Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% of the purchase price, payable upon completion of the sale. For a unit priced at S$1.8 million, this equates to ABSD of S$360,000, which must be factored into the total acquisition cost and financing requirements. This duty applies in addition to standard Buyer's Stamp Duty (BSD) and is a significant financial consideration that may influence purchase timing and structuring decisions for upgrading buyers or investors. Prospective buyers should engage a conveyancing solicitor to understand the full tax implications of their specific transaction, including potential strategies to optimise liability within the bounds of Singapore law.

What is the lease tenure at Costa Rhu, and could lease decay impact resale value?

Costa Rhu is offered with either 999-year or Freehold tenure, depending on the specific unit being acquired. Units with 999-year leases face negligible lease decay risk over the medium to long term, as the tenure far exceeds standard financing horizons and investment timescales, and the annual degradation is mathematically immaterial to valuation. Freehold units at the development carry no lease decay risk whatsoever and may appeal particularly to purchasers prioritising absolute asset preservation and unrestricted ownership longevity. The established maturity of Costa Rhu means that historical resale data demonstrates no meaningful price erosion attributable to lease tenure for properties with 999-year tenancy, and the imminent Founders' Memorial development is expected to support values irrespective of lease duration. Purchasers should verify the specific tenure of any unit of interest at the point of offer, as this detail influences both the financing terms offered by banks and the long-term value proposition.

How does proximity to Tanjong Rhu MRT (TE23) influence property demand and capital appreciation?

Tanjong Rhu MRT Station (TE23) is currently operational and serves as a critical accessibility anchor for Costa Rhu, situated merely nine minutes' walk away. Properties within this proximity band typically experience stronger rental demand, faster capital appreciation, and more resilient valuations during market downturns, as the transport convenience appeals to professionals, families, and investors alike. The imminent opening of the TEL extension with a dedicated station at TE22A (Bay East Garden) will further enhance this advantage, effectively placing Costa Rhu within walking distance of two MRT stations and intensifying transport-driven demand. Historical analysis of property performance in similar MRT-adjacent locations across Singapore indicates that the opening of new transport infrastructure typically generates capital appreciation of 8% to 15% over a three to five-year period, suggesting that Costa Rhu is positioned to benefit substantially from the TEL expansion. Enhanced connectivity also tends to compress price differentials between similar units at MRT-proximate addresses and those further afield, meaning that current purchasers at Costa Rhu may capture value migration as the precinct becomes increasingly transport-intensive.

Which buyer profiles are best suited to Costa Rhu, and why?

Costa Rhu appeals strongly to high-net-worth owner-occupiers seeking waterfront prestige with downtown connectivity, as the development combines the tranquility and greenery of a resort-style setting with seamless access to Marina Bay, Orchard, and business precincts via the TE line. Upgrading buyers transitioning from HDB or smaller private properties find the space, finishes, and neighbourhood quality compelling, particularly those valuing the proximity to family-friendly destinations such as Gardens by the Bay East and the Singapore Sports Hub. Expatriate professionals and families are also well-represented in the owner-occupier base, drawn by the English-speaking neighbourhood character, international schooling proximity, and the prestige of owning property at a landmark address. Investors, particularly those seeking stable rental income with moderate appreciation potential, regard Costa Rhu favourably due to the diversified tenant pool (expats, professionals, holiday visitors to the forthcoming Founders' Memorial), the move-in ready condition of many units, and the resilience of waterfront district valuations. First-time buyers with sufficient capital will find Costa Rhu's entry price point and established brand recognition reassuring, though the quantum of cash required and ABSD implications for certain profiles may limit first-buyer uptake relative to other District 15 offerings.

What are the Total Debt Service Ratio (TDSR) and financing headroom considerations at Costa Rhu price points?

For a unit priced at S$1.8 million with a 20-year loan tenure and typical prevailing mortgage rates around 3.5% to 4%, a purchaser would require approximately S$540,000 in cash (30% down payment), with the remaining S$1.26 million financed. Under the current TDSR framework (capped at 55% of gross monthly income for HDB upgraders, 60% for private property purchasers), this translates to a minimum monthly household income requirement of approximately S$18,000 to S$20,000 to comfortably service the mortgage alongside other obligations. Including ABSD (S$360,000 for a second-property Singapore Citizen), total acquisition costs reach approximately S$900,000, meaningfully impacting the liquidity and financial flexibility of the purchaser. Buyers should stress-test their financing assumptions against potential interest rate increases and ensure adequate buffer for maintenance contributions, property tax, and insurance. Banks typically offer loan-to-value (LTV) ratios up to 75% for private residential properties, though this may be constrained to 60-70% for non-citizens or investors, necessitating larger cash outlays for these buyer segments.

How does Costa Rhu compare to nearby competing developments in District 15?

Costa Rhu's key competitive advantages centre on its waterfront positioning, established brand heritage, and immediate proximity to the upcoming Founders' Memorial precinct, which most other District 15 developments lack. Competing properties such as those in the Katong or Bedok regions typically offer lower per-square-foot pricing (S$1,400 to S$1,700) but sacrifice waterfront character and the imminent infrastructure investment driving the Tanjong Rhu narrative. Inland District 15 developments in the Mountbatten or Geylang Serai areas command pricing comparable to or lower than Costa Rhu whilst offering larger unit sizes, but lack the recreational amenities, waterfront walks, and aspirational positioning that appeal to the target demographic. Waterfront competitors such as properties along the nearby Kallang Basin typically transact at S$1,800 to S$2,300 per square foot, positioning Costa Rhu's S$1,690 to S$2,250 range as moderately competitive. The key differentiator remains Costa Rhu's front-row positioning relative to the Founders' Memorial and the confluence of three transport nodes (TE23 MRT, upcoming TE22A station, and expressway proximity), which create a specific value proposition difficult for inland or less strategically-positioned developments to replicate.

Which unit stacks or floor levels at Costa Rhu offer the best value proposition?

Mid-range floor levels (approximately 8th to 15th floors) typically represent optimal value at Costa Rhu, as they command modest discounts relative to higher floors whilst retaining excellent views of the waterfront greenery and avoiding the ground-floor and lower-tier noise and privacy considerations associated with lobby areas and street-level activity. Lower floors (1st to 7th) often transact at 3% to 5% discounts relative to mid-range equivalents, appealing to purchasers prioritising convenience and accessibility over vista elevation, though some waterfront views remain obstructed by landscaping at ground to 3rd floor levels. Higher floors (16th and above, where applicable) command premiums of 5% to 8% for unobstructed panoramic views and enhanced privacy, justifying the higher pricing for owner-occupiers prioritising the resort-like experience but less compelling for investors focused on yield. Corner and bay-window units across all levels typically attract premiums of 3% to 6% due to enhanced natural light, ventilation, and view-lines, and often represent strong capital appreciation vehicles. For value-focused purchasers, mid-floor stack units with adequate light and modest view compensation typically offer the optimal balance of pricing, livability, and future resale appeal, particularly when finishes and renovation recency are held constant.

What is the future supply pipeline in District 15, and how might this affect Costa Rhu valuations?

District 15's supply pipeline over the next five years remains relatively constrained compared to other central districts, with the majority of new residential development concentrated in the Tanjong Katong and Bedok Reservoir precincts rather than immediately proximate to Costa Rhu. The Founders' Memorial and Bay East Garden projects are infrastructure and cultural enhancements rather than residential supply additions, suggesting that new-build residential competition in the immediate Tanjong Rhu vicinity will remain limited. This supply scarcity, combined with the imminent opening of the TEL extension, is expected to support steady demand and moderate price appreciation for established developments such as Costa Rhu, as upgrading buyers and investors compete for a finite pool of waterfront properties. However, the broader District 15 region may see moderate new supply from en bloc redevelopment of older properties in adjacent areas (such as Mountbatten and Geylang Serai), which could exert selective downward pressure on pricing for inland properties whilst simultaneously directing demand towards premium addresses such as Costa Rhu. Over a five to ten-year horizon, the combination of limited local supply, imminent infrastructure investment, and cultural landmark development positions Costa Rhu to maintain or appreciate its relative valuation within the district, provided broader economic and property market conditions remain supportive.

Condominium At 3 Rhu Cross — From S$1.7M