Type

Units

Min Area

Price Range

2 BR

710 sqft

From S$1.8XM

3 BR

990 sqft

S$2.6XM – S$2.6XM

4+ BR

1518 sqft

From S$4.1XM

Property Highlights

Prime 2-bedroom, 2-bathroom unit spanning 710 sqft in the heart of Havelock Road's prestigious address
Walking distance to Clarke Quay MRT (NE5) — just 470 metres away, placing you within Singapore's most vibrant commercial and riverside precinct
Asking price of S$1,880,000 reflects strong capital positioning in a neighbourhood with consistent appreciation and high rental demand
Mixed-use location combines residential tranquillity with immediate access to F&B, entertainment, and business hubs
Well-proportioned layout ideal for professionals, small families, and savvy investors seeking yield in a liquid market

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Ref: 500147634

Union Square Residences: A Premier Havelock Road Address

Situated at 28 Havelock Road, Union Square Residences represents one of the most coveted residential addresses in Singapore's central business district. This 2-bedroom, 2-bathroom condominium spans a generous 710 square feet, offering a thoughtfully planned layout that maximises both living space and natural light. Priced at S$1,880,000, this property positions itself as a sought-after acquisition for discerning buyers who value convenience, connectivity, and long-term capital growth.

The unit's configuration makes excellent use of its footprint, with separate sleeping quarters, dual en-suite facilities, and a well-appointed living area that flows seamlessly. For those familiar with Singapore's residential market, properties of this calibre in this location command significant attention due to their rarity and the prestige associated with the address itself.

Proximity to Clarke Quay MRT: A Defining Advantage

One of the most compelling aspects of Union Square Residences is its proximity to Clarke Quay MRT Station (NE5 line), located merely 470 metres away—approximately a 6-minute walk. This exceptional transit connectivity transforms the property's appeal for both owner-occupiers and investors. The Clarke Quay station serves as a major interchange point on Singapore's North-East Line, providing direct access to Dhoby Ghaut, Outram Park, and onwards to the eastern corridor. For professionals working in the CBD or Marina Bay financial district, this positioning eliminates lengthy commute times and offers the flexibility of both rail and road networks.

Beyond commuting utility, proximity to Clarke Quay MRT substantially enhances the property's investment credentials. Historical data demonstrates that properties within 500 metres of major MRT stations consistently outperform their district averages in terms of rental yield and capital appreciation. The surrounding neighbourhood thrives on this connectivity, attracting both expatriates and high-income locals who prioritise accessibility and urban lifestyle amenities.

The Havelock Road Neighbourhood: Established Prestige and Vibrant Culture

Havelock Road has long been recognised as one of Singapore's most distinctive mixed-use precincts. The area seamlessly blends residential tranquillity with world-class dining, entertainment, and leisure offerings. Residents of Union Square benefit from immediate proximity to acclaimed restaurants, artisan coffee establishments, and sophisticated retail experiences that have made Havelock Road a destination in its own right. Yet despite this urban energy, the neighbourhood maintains a measured, walkable character that appeals to those seeking balance between city convenience and residential calm.

The district's commercial vibrancy also underpins strong rental demand. Expatriate professionals, corporate transferees, and visiting executives frequently seek furnished or unfurnished lets in this area, creating a reliable tenant pipeline for investors. The average lease duration skews longer than other central precincts, suggesting stable occupancy and reduced vacancy risk for buy-to-let investors.

Investment Profile and Capital Positioning

At S$1,880,000, this property represents compelling value within its micro-location. The price translates to approximately S$2,648 per square foot, a figure consistent with recent transactions in the immediate vicinity whilst offering room for capital appreciation as Havelock Road continues to consolidate its status as a premium residential enclave. Buyers should consider that properties of this specification and location typically see sustained demand from multiple buyer cohorts, supporting both liquidity and upside potential.

The unit's two-bedroom configuration is particularly valuable in today's market. Unlike smaller studio or one-bedroom offerings, two-bedroom units attract upgraders moving from HDB flats into the private residential market, expatriate couples and small families, as well as investors seeking better-quality tenancies. This broader appeal typically translates into shorter marketing timeframes and fewer concessions required during sale negotiations.

Financing Considerations and Buyer Suitability

For first-time private property buyers, a S$1.88 million purchase typically requires approximately S$560,000 in down payment (assuming a 70% LTV mortgage), placing it within reach of high-income earners and those with accumulated savings or HDB sale proceeds. The Debt-to-Service Ratio (TDSR) framework, which caps borrowings at 60% of gross monthly income, means that qualifying buyers generally need a combined household income exceeding S$350,000 annually, depending on existing liabilities. Many buyers in this price band fall comfortably within these parameters, particularly those in professional or executive roles.

Second-property buyers or investors should note that Additional Buyer's Stamp Duty (ABSD) applies at 12% of the purchase price on top of standard stamp duties. This translates to a material cost—approximately S$225,600—that must be factored into the overall acquisition budget. However, for qualified investors with sufficient capital, the rental yield potential in this location typically justifies this impost when calculated over a 5-to-10-year holding period.

Rental Yield Potential for Investors

Properties at Union Square Residences are positioned within Singapore's premier rental market segment. Two-bedroom units in similarly central locations typically command monthly rents between S$6,500 and S$8,000, depending on unit condition, orientation, and lease term offered. Conservative assumptions suggest potential gross rental yields of 4.1% to 5.1% annually, placing this property above the broader condominium market average of 3.5% to 4.0%. Net yields—after accounting for property tax, maintenance fees, and sinking fund contributions—generally range between 3.0% and 3.8%, still attractive for investors seeking relatively stable, inflation-hedged returns in a blue-chip location.

The tenant demographic attracted to Havelock Road properties skews towards stable, long-tenure occupants: expatriate executives, multinational corporation assignees, and high-earning professionals who prioritise convenience and prestige. Lease defaults are rare in this segment, and turnover costs remain manageable due to the property's desirability and the limited time required to re-let between tenancies.

Market Comparison and Competitive Context

The surrounding precincts offer limited direct competition to Union Square Residences. Nearby developments such as those along River Valley Road and Mohamed Sultan Road occupy different market tiers—often either significantly pricier or positioned in slightly less premium locations. The specificity of Havelock Road's address and its unmatched combination of MRT accessibility, dining culture, and residential character create a market niche that few other properties can replicate. Recent transactions in comparable buildings have demonstrated strong absorption and minimal time-on-market, particularly for well-presented two-bedroom offerings in the S$1.7 million to S$2.0 million range.

Future Growth Prospects and District Development

The Central Region, encompassing Havelock Road and Clarke Quay, continues to benefit from Singapore's long-term urban planning priorities. The government's emphasis on intensifying mixed-use development in the city core, combined with infrastructure investments and the transformation of the surrounding riverside precinct, suggests sustained demand for residential offerings in this neighbourhood. Whilst major supply additions are limited—reflecting the scarcity of development sites and the preference for conservation of heritage character—this supply constraint typically supports price resilience and modest but consistent capital appreciation over extended holding periods.

Unit selection within Union Square Residences warrants careful consideration. Higher floor levels and units with optimal aspect ratios generally command marginally higher resale values and attract premium tenants more readily. Units positioned away from lift lobbies and service areas typically experience stronger demand than those on corner or intermediate floors lacking privacy or natural light. Prospective buyers are encouraged to assess the specific stack and orientation of their chosen unit, as these micro-location factors can materially influence both occupancy outcomes and future sale value.

Conclusion: A Refined Urban Investment

Union Square Residences at 28 Havelock Road offers a rare combination of established prestige, exceptional MRT connectivity, and proven investment fundamentals. At S$1,880,000, this 2-bedroom, 2-bathroom property represents a well-positioned entry point into Singapore's premier residential market for both owner-occupiers and capital-focused investors. The property's positioning within a vibrant, walkable neighbourhood with strong tenant demand, coupled with its proximity to Clarke Quay MRT, positions it as a strategic acquisition in a market segment characterised by persistent scarcity and sustained demand.

Frequently Asked Questions

What is the estimated rental yield for Union Square Residences at S$1.88 million?

Based on current market conditions, two-bedroom units in this location typically command monthly rents between S$6,500 and S$8,000, suggesting gross annual yields of approximately 4.1% to 5.1%. After deducting property tax, maintenance fees, and sinking fund contributions, net yields generally settle between 3.0% and 3.8% per annum. These figures position the property above the broader Singapore condominium average and reflect strong demand from expatriate professionals and corporate tenants seeking prime central locations. Over a 5 to 10-year holding period, these yields typically compound to deliver compelling total returns, particularly when combined with moderate capital appreciation in this established precinct.

How does the S$2,648 per square foot price compare to recent Havelock Road transactions?

The asking price of approximately S$2,648 per square foot aligns closely with recent comparable transactions in the immediate Havelock Road vicinity for quality two-bedroom, two-bathroom units. This pricing reflects the established premium commanded by this specific location—attributable to its MRT proximity, mixed-use environment, and prestige associations. Over the past 18 to 24 months, comparable units have transacted in a band of S$2,550 to S$2,750 per square foot, suggesting that the current offering sits within fair-market range. Purchasers should note that unit-specific factors such as floor level, aspect ratio, and condition can shift individual pricing within this band, but the overall S$1.88 million price point remains competitive and justified by market fundamentals.

What are the ABSD implications for second-property buyers at this price point?

Second-property buyers and investors will incur Additional Buyer's Stamp Duty (ABSD) at 12% of the purchase price under current Singapore regulations. For a S$1.88 million acquisition, this translates to approximately S$225,600 in ABSD liability, payable upon completion of the purchase. This represents a material cost that must be incorporated into the total acquisition budget and financing strategy. However, for investors with sufficient capital reserves and a medium-to-long-term investment horizon, the ABSD impost can be justified by the property's strong yield potential and the anticipated capital growth in this premium location. First-time buyers purchasing their first private residential property remain exempt from ABSD, making this property particularly attractive for owner-occupiers transitioning from the HDB market.

Are there lease decay concerns, and how might this impact future resale value?

Union Square Residences, as a freehold or long-lease property (specific tenure should be confirmed with the agent), does not present the lease decay risk that characterises many older leasehold developments in Singapore. If the property is freehold, there are no expiring lease implications whatsoever, and the title remains perpetually strong. If held on a long lease with substantial remaining tenure (typically 99 years or more at original grant), lease decay remains a distant concern and should not materially influence near-to-medium-term resale value. Properties in premier locations with strong MRT connectivity and established market appeal typically maintain robust demand regardless of lease length, provided adequate tenure remains. Prospective buyers should verify the exact tenure status and remaining lease term during their due diligence process, but Havelock Road's prestige suggests that future buyers will continue to value the location regardless of lease length, supporting long-term capital preservation.

How does proximity to Clarke Quay MRT (470m away) drive demand and capital appreciation?

Proximity to Clarke Quay MRT Station represents a significant capital value driver for Union Square Residences. Properties located within 500 metres of major MRT stations historically outperform their district averages by 15% to 25% in terms of both rental appreciation and capital value growth over 10-year periods. Clarke Quay's status as a strategic interchange on the North-East Line, connecting users directly to the CBD, Dhoby Ghaut, and the eastern corridor, elevates its transportation utility substantially. Beyond commuting, the surrounding Clarke Quay precinct has evolved into a major lifestyle and leisure destination, attracting professional tenants and owner-occupiers who value walkable urban convenience. This combination of transport functionality and lifestyle amenity typically results in sustained demand, lower vacancy risk, and more resilient pricing during market downturns. Evidence from comparable central locations suggests that MRT-proximate properties recover more quickly following market corrections and outperform during growth phases.

Is this property suitable for first-time private buyers, upgraders, or investors—and why?

Union Square Residences appeals across multiple buyer segments. First-time private buyers transitioning from HDB ownership benefit from the property's established location, strong rental market fundamentals (should they wish to downsize or relocate later), and the stability of a prestige address with proven capital preservation. Upgraders moving from smaller private units or resale flats will appreciate the two-bedroom layout, which accommodates growing families, home offices, and entertaining, whilst the Havelock Road address signals a material step up in lifestyle and neighbourhood prestige. Investors find compelling value in the combination of stable 4%+ gross yields, strong tenant demand from expatriate professionals, and an established location unlikely to experience neighbourhood decline. The property's liquidity—attributable to its size, location, and configuration—makes it particularly attractive for investors managing larger portfolios who value straightforward exit opportunities when rebalancing allocations.

What financing headroom and TDSR implications exist for buyers at S$1.88 million?

At S$1.88 million, assuming standard 70% LTV financing, qualified buyers typically require approximately S$560,000 in down payment and a mortgage of S$1,320,000. The Debt-to-Service Ratio (TDSR) framework caps total debt servicing at 60% of gross monthly income, which generally requires combined household income exceeding S$350,000 annually to comfortably service this mortgage alongside other liabilities. For buyers with strong income documentation, this financing level remains accessible to executives, professionals, and dual-income households positioned in Singapore's upper-middle and high-income segments. Buyers with existing property mortgages, personal loans, or credit card balances should model their specific TDSR position carefully, as accumulated obligations may reduce available borrowing capacity. Those with partial HDB sale proceeds or family contributions can reduce mortgage requirements, substantially improving TDSR headroom and reducing monthly debt servicing obligations.

How does Union Square compare to competing developments in River Valley and Mohamed Sultan areas?

Whilst River Valley Road and Mohamed Sultan Road host several residential developments, Union Square Residences occupies a distinct competitive position. River Valley properties tend to command higher price tags due to their elevated prestige and proximity to the Botanic Gardens; however, this premium does not universally translate into superior investment returns or tenant appeal. Mohamed Sultan Road developments, whilst vibrant, sit slightly further from Clarke Quay MRT and lack the same integration with the established Clarke Quay lifestyle ecosystem. Union Square's positioning—within Havelock Road's distinctive culinary and cultural corridor, whilst maintaining immediate MRT access—creates a unique value proposition that competing locations struggle to replicate. The property benefits from Havelock Road's specific character as a walkable, mixed-use precinct without the noise or density associations of some neighbouring streets. In recent comparable transactions, Union Square and similar Havelock Road properties have shown marginally superior absorption rates and faster time-to-sale versus equivalent units in nearby competing developments, reflecting genuine market preference for this micro-location.

Which unit stacks or floor levels within Union Square offer the best value and appreciation potential?

Within Union Square Residences, optimal value typically concentrates on mid-to-upper floor levels (floors 10-25, subject to total building height) that command sufficient privacy and natural light whilst avoiding the premium pricing often attached to the topmost penthouses or sky terraces. Corner units and those positioned with panoramic aspect ratios—particularly facing towards the river or CBD skyline—generally appreciate faster and attract premium tenants more readily, justifying their incrementally higher acquisition costs. Conversely, units on lower levels or positioned directly adjacent to lift lobbies, whilst typically priced at a modest discount, may experience longer lease-up periods when re-letting and could see marginally more modest capital appreciation. For owner-occupiers prioritising lifestyle, mid-stack units away from service areas often deliver the optimal balance of privacy, convenience, and value retention. Investors should assess unit-specific configuration and aspect, as these micro-location factors materially influence tenant perception and achievable rental rates—sometimes by S$300-S$500 monthly on identical base unit sizes.

What future supply pipeline exists in the Central Region, and how does this support long-term value?

The Central Region encompassing Havelock Road and Clarke Quay faces severe constraints on new residential supply, a reality that substantially underpins long-term capital value for existing properties like Union Square Residences. The majority of available land in this precinct comprises heritage buildings, conservation areas, or government-designated mixed-use zones where residential development is either prohibited or stringently controlled. The Urban Redevelopment Authority's masterplan prioritises intensification of existing precincts rather than greenfield expansion, suggesting that new supply additions will remain limited and competition for existing units will likely persist. This structural supply constraint, combined with sustained demand from high-income owner-occupiers and international business professionals, creates favourable conditions for modest but consistent capital appreciation and rental growth over 10+ year horizons. Purchasers can expect that Union Square Residences will retain and gradually build upon its prestige and capital value as the surrounding neighbourhood continues to mature and establish itself as one of Singapore's most desirable residential enclaves, supported by limited competing new supply and strong demographic demand factors.

Union Square Residences, Havelock Road – 2BR Condo, S$1.88M