Type

Units

Min Area

Price Range

Other

463 sqft

S$950K – S$4.7M

Property Highlights

Commercial development with 9 units currently available.
Prices currently range from S$950K to S$4.7M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$190K on this acquisition.
Located 3 min (250 m) from EW15 Tanjong Pagar MRT Station.

Price Trends & Rental Yield

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International Plaza: Central Business District Office Investment

International Plaza stands as a prominent commercial property in Singapore's beating heart, situated at 10 Anson Road in the island's premier financial and business corridor. This development positions itself squarely within the central business district (CBD), where demand for quality office accommodation remains consistently robust among both established corporations and emerging enterprises seeking a prestigious address. The location has historically commanded strong rental and capital growth, reflecting the enduring appeal of CBD office space to multinational firms, professional services providers, and entrepreneurial ventures alike.

The property's proximity to Tanjong Pagar MRT Station—just 250 metres or approximately three minutes on foot—represents a decisive advantage for occupiers and investors. This accessibility ensures seamless connectivity to Singapore's extensive rail network, enabling staff to commute efficiently from across the island and visitors to reach the building without friction. The station itself sits on the East-West Line (EW15), one of Singapore's busiest arterial routes, amplifying the convenience factor for daily users and reinforcing the building's attractiveness as a business address.

Strategic Location Within the Established CBD

Anson Road has long held prestige within Singapore's property landscape, home to a concentration of corporate headquarters, financial institutions, and professional practices. This clustering effect creates powerful networking externalities—tenants benefit from proximity to related businesses, potential clients, and service providers. The established character of the precinct, combined with its regulatory certainty and proven track record as a business destination, makes International Plaza particularly appealing to organisations seeking to entrench themselves in Singapore's recognised financial centre.

The immediate neighbourhood encompasses other significant commercial properties and mixed-use developments, ensuring continued vitality and supporting infrastructure. Restaurants, cafés, and retail facilities cluster around the area, enhancing the working environment and attracting top talent to firms based in International Plaza. This ecosystem of amenity and commerce has demonstrated resilience across multiple economic cycles, a testament to the fundamental strength of demand for CBD office space in Singapore.

Unit Specifications and Flexibility

Units at International Plaza are crafted to serve diverse professional needs, with configurations starting from 463 square feet. This size bracket sits perfectly within the sweet spot for boutique professional firms, start-up ventures, and satellite offices seeking an efficient, cost-effective CBD presence without excess overhead. The compact floor plates encourage lean operational models whilst maintaining the prestige and accessibility of a premium address. Investors considering acquisition will find that this size category continues to attract consistent tenant interest, particularly among law firms, accounting practices, consulting boutiques, and technology companies requiring CBD proximity without wholesale commitment to large, corporate-scale space.

Prospective occupiers benefit from the flexibility that smaller units afford—they provide entry-level access to premium CBD accommodation, allowing growing firms to establish themselves before expanding into larger configurations as their requirements evolve. This tenant progression model has proven commercially durable, as companies frequently prefer to upgrade within an established building rather than relocate entirely, reducing churn and supporting sustained rental income for investors.

Investment Perspective and Capital Growth

Office property in Singapore's CBD has demonstrated long-term capital appreciation aligned with GDP growth, rising corporate earnings, and the inelasticity of prime commercial land supply. International Plaza's position within this tier positions it to benefit from these structural tailwinds. Investors acquiring units should anticipate that capital values are likely to track the overall health of Singapore's financial services sector and broader economy, with periodic corrections during downturns but a generally upward trajectory over multi-year holding periods.

The rental market for CBD office space remains disciplined and transparent, with quoted rates reflecting genuine market demand. Smaller units such as those at International Plaza often command higher per-square-foot rents than sprawling corporate floors, as they serve markets with less negotiating power. Investors should model rental yields based on contemporary market evidence and account for the cyclical nature of office demand, which can soften during periods of economic uncertainty or increased remote working adoption.

Financing and Buyer Considerations

Purchasers should be mindful of financing implications when acquiring office units for investment. Banks typically offer 50–65% loan-to-value financing on commercial property, requiring investors to provide substantial equity. Additional Buyer's Stamp Duty (ABSD) applies to second and subsequent residential property purchases by Singapore Citizens at a rate of 20%, though office units fall outside the residential classification and thus attract no ABSD. This distinction can make office investment attractive for buyers who have already exhausted their residential purchasing capacity.

Prospective owners should engage licensed financial advisers to understand their total cost of acquisition, including legal fees, stamp duty, and potential refurbishment costs. The economics of office investment differ materially from residential; whilst capital appreciation may track broader commercial real estate cycles, rental yields depend heavily on Singapore's economic performance and corporate real estate demand.

Market Positioning and Future Outlook

The CBD office market continues to evolve in response to hybrid working patterns and flexible space solutions. However, prime, established addresses such as International Plaza maintain their appeal for organisations seeking permanence, identity, and prestige. The transition toward hotdesking and shared workspace has not eliminated demand for owned or leased private offices; rather, it has recalibrated how firms allocate space, with smaller committed footprints becoming increasingly common. International Plaza's unit sizes sit squarely within this evolving demand pattern.

Future supply of new CBD office space in Singapore remains tightly controlled by planning policy, which reserves the core business district for premium commercial uses. This supply discipline supports long-term value retention for existing properties, as new competitive stock is unlikely to flood the market. Investors considering International Plaza should factor this scarcity premium into their acquisition thesis.

Conclusion

International Plaza represents a coherent investment opportunity for those seeking CBD office exposure in a location of proven commercial strength and accessibility. The development's proximity to Tanjong Pagar MRT, its established address, and its compact, marketable unit sizes combine to create a property suited to both owner-occupants establishing a professional presence and investors seeking exposure to Singapore's financial sector. As with all commercial real estate, success depends on understanding local market dynamics, tenant demand, and the cyclical nature of office occupancy; investors are advised to conduct thorough due diligence and seek professional advice before committing capital.

Frequently Asked Questions

What estimated rental yield might an investor expect from purchasing an office unit at International Plaza?

Rental yields on CBD office units typically range from 3–5% gross per annum, though this varies considerably based on unit size, lease term, tenant quality, and broader market conditions at the time of acquisition. International Plaza's compact unit sizes and prestigious address may command higher per-square-foot rates than larger corporate floors, potentially supporting yields at the upper end of this range. Investors should obtain current comparable leasing data from property consultants and model yields conservatively, accounting for periods of vacancy, tenant turnover, and potential rental softness during economic slowdowns. The absolute yield will depend on the acquisition price paid and the tenant secured post-purchase.

How does pricing per square foot at International Plaza compare to recent office transactions on Anson Road and nearby CBD streets?

Pricing per square foot for CBD office space on Anson Road has historically ranged from approximately S$3,500 to S$6,000 per sqft, depending on building prestige, unit size, and floor level, though specific transaction data should be verified through recent market reports and professional valuations. Smaller units, as found at International Plaza, often command premium rates per sqft compared to larger floors, as they serve niche tenancies with less purchasing power to negotiate discounts. Buyers should commission independent valuations and review recent sales evidence to ensure they are paying fair value relative to comparable properties on the same street and in nearby blocks. Market conditions fluctuate, so historical pricing data should be supplemented with the latest transactional evidence.

Does Additional Buyer's Stamp Duty (ABSD) apply to office unit purchases at International Plaza?

No, Additional Buyer's Stamp Duty does not apply to office purchases, as ABSD is levied only on residential property. Office units, including those at International Plaza, fall outside the residential classification and therefore escape the 20% ABSD rate that applies to second and subsequent residential property acquisitions by Singapore Citizens. This distinction can make office investment strategically attractive for buyers who have already purchased one or more residential properties and wish to avoid incurring ABSD on further residential acquisitions. However, standard conveyancing stamp duty, legal fees, and other acquisition costs will still apply to office purchases.

How does proximity to Tanjong Pagar MRT station affect tenant demand and capital appreciation for International Plaza?

Direct MRT accessibility is a primary driver of commercial property values in Singapore, and Tanjong Pagar station's location on the heavily trafficked East-West Line (EW15) significantly enhances International Plaza's appeal to prospective tenants and investors. Occupiers value the convenience of seamless transport connectivity for themselves and their clients, and the three-minute walk to the station positions the building as highly accessible compared to off-line competitors. This accessibility premium has historically supported stronger capital growth and more resilient rental demand at properties within 300–400 metres of major MRT stations compared to similar buildings further afield. Capital appreciation for International Plaza is likely to outpace CBD office property that lacks equivalent MRT proximity, all else being equal.

What buyer profiles are best suited to International Plaza office units, and who should avoid?

International Plaza appeals most to several distinct buyer profiles: professional firms (law, accounting, consulting) seeking a prestigious CBD address with minimal overhead; owner-occupiers building a company headquarters or satellite office; investors with a five-to-ten-year holding horizon seeking capital appreciation and rental income; and established small businesses upgrading from suburban premises. The compact unit sizes are less suitable for large corporate occupants requiring sprawling open floorplates, call centres, or warehouse-style operations, who would be better served by purpose-built space elsewhere. First-time commercial property buyers should approach carefully, as office investment requires understanding of commercial leasing cycles, tenant quality assessment, and financing structures that differ substantially from residential property investment.

What Total Debt Service Ratio (TDSR) and financing headroom might a typical buyer experience at International Plaza price points?

Banks typically lend 50–65% loan-to-value on commercial office property, compared to 75–80% on residential mortgages, meaning buyers of International Plaza units will need to provide substantial equity (35–50% of purchase price). At typical CBD office pricing, this constraint ensures that TDSR calculations remain manageable for most qualified borrowers, provided they have sufficient liquid capital. However, the absolute financing headroom depends on individual creditworthiness, existing debt obligations, and the lender's commercial lending appetite at any given time. Buyers should consult directly with commercial lenders and their financial advisers to understand their specific borrowing capacity before committing to an acquisition; banks will assess the property's income-generating potential and the buyer's overall financial profile.

How do competing office developments in the surrounding CBD area compare to International Plaza in terms of location and value?

International Plaza faces competition from several established office buildings on Anson Road and neighbouring streets (such as Cecil Street, Raffles Place, and Robinson Road), including high-rise corporate towers and older converted shophouses repurposed as office space. Compared to ultra-premium skyscrapers in Raffles Place, International Plaza likely offers more modest pricing and suits smaller tenancies; compared to secondary-market buildings further from Tanjong Pagar station, it maintains the advantage of superior MRT accessibility and prestige address. Investors should evaluate competing properties across several dimensions: MRT proximity, building age and condition, tenant quality and stability, rental rates achieved, and capital appreciation trends. The fragmented nature of Singapore's CBD office stock means that location within the district—measured largely by distance to MRT stations—remains the dominant value determinant.

Which floor levels or unit stacks at International Plaza might offer the best value for price-conscious investors?

In Singapore's commercial property markets, middle floors (typically the 4th to 10th storeys) often represent the best value proposition, as they avoid the premium commanded by lower floors (due to street-level visibility and walk-in convenience) and the skyline premiums associated with very high levels. However, some institutional tenants (particularly financial services firms and professional partnerships) specifically prefer lower floors for client accessibility and traditional prestige, potentially justifying higher pricing on lower storeys. Ground and first-floor units may trade at discounts despite their accessibility, as street noise and lack of privacy can deter professional occupiers. Investors should assess the specific tenant profile that will occupy each unit and cross-reference floor-level pricing against recent comparable sales to identify relative value opportunities within International Plaza's available stock.

What is the future supply pipeline for office space in the CBD district, and could new competition erode International Plaza's value?

Singapore's planning policy maintains strict controls on new office development within the CBD core, meaning large-scale new supply is unlikely to emerge rapidly and flood the market. Most new commercial development in Singapore is directed toward decentralised centres (such as Jurong East and Paya Lebar), not the core CBD, a discipline that protects valuations of existing prime properties like International Plaza. However, older buildings can experience value compression if they are not well-maintained or if tenants migrate to newer, more technologically advanced space elsewhere in the CBD. The long-term outlook for CBD office property remains constructive, supported by scarcity of available land and the enduring appeal of Singapore's financial centre status; however, investors should monitor broader economic trends, remote working adoption, and the condition of competing stock to ensure their assets remain competitive.

How does the lease tenure at International Plaza affect its suitability as a long-term investment asset?

The lease tenure of the building (whether freehold or long leasehold) will materially affect the investment thesis and resale value over time. If International Plaza operates on a freehold basis, it presents minimal lease decay risk and should retain value indefinitely, making it suitable for indefinite hold or passing to heirs. If it operates on a long leasehold (such as 99 years or 999 years), investors should assess the remaining tenure and understand how lease erosion may affect future resale value and financing availability as the lease reduces below 90 or 80 years. Most purchasers should commission a property valuation and legal review to confirm tenure status and seek advice on how residual lease length might influence their investment return assumptions. Shorter remaining leases may command discounts and encounter financing difficulties, potentially constraining exit options in later years.

What long-term capital appreciation can investors reasonably expect from office property at International Plaza?

Long-term capital appreciation in Singapore's CBD office market has historically tracked GDP growth and population expansion, typically in the range of 3–5% per annum over multi-decade periods, though with significant cyclicality and periodic corrections during economic downturns. International Plaza's established location and MRT accessibility position it to participate in this long-term growth trajectory, though short-term volatility is inevitable and capital values may stagnate or decline during recessions or periods of excess office supply. Investors with a five-to-ten-year time horizon should model conservative appreciation of 2–3% annually and build in assumptions for periods of no growth or modest decline. The absolute outcome depends on macroeconomic performance, Singapore's continued attractiveness as a financial hub, and the property's competitive positioning relative to alternative office stock, all of which are subject to considerable uncertainty over multi-year periods.

Office At 10 Anson Road — From S$950K