- A Diverse Buyer Profile (Strong Sales at Union Square Residences)
- Luxury Units with Scenic Views
- Unit Types and Price Overview
- Mixed-Use Convenience at Union Square
- Ideal Location and Transit Access
- Rare Opportunity in District 1 (Strong Sales at Union Square Residences)
- Strong Sales Across Central Region Developments
About Strong Sales at Union Square Residences | City Developments Limited (CDL) recently reported the sale of 75 units, accounting for 20% of Union Square Residences, at an average price of S$3,200psf as of 9th November. This milestone followed the project’s preview on 1st November, signaling robust market interest.
A Diverse Buyer Profile (Strong Sales at Union Square Residences)
Union Square Residences has appealed to a wide demographic, with 83% of buyers being Singapore citizens. The remaining 17% includes Permanent Residents from countries like China, Malaysia, the UK, and the Netherlands, as well as international buyers from Norway and the USA. These non-local buyers benefit from the same tax treatment as Singaporeans, further enhancing the property’s appeal.
Among the transactions, a noteworthy sale involved a 2,476 sqft five-bedroom Sky Suite on the 38th floor, sold at S$9.288 million (S$3,751psf). This transaction, brokered by a PropNex agent, underscores the demand for premium units in the project.
Luxury Units with Scenic Views
For buyers seeking exclusivity, a second five-bedroom Sky Suite is still available on the 39th floor. Priced at S$9.5 million (S$3,837psf). Additionally, a sprawling 4,833 sqft penthouse on the top floor promises unparalleled views of Marina Bay and the Singapore River, enhancing the property’s desirability.
Unit Types and Price Overview
More on Strong Sales at Union Square Residences | Union Square Residences offers a range of unit types. All of which have been well-received by buyers. The most popular options include one, two, as well as three-bedroom premium units. Prices start at S$1.38 million (S$2,981psf) for a 463 sqft one-bedroom unit, S$1.998 million (S$2,854psf) for a 700 sqft two-bedroom, S$2.82 million (S$2,848psf) for a 990 sqft three-bedroom, and S$4.62 million (S$3,043psf) for a 1,518 sqft four-bedroom premium.
Read Also: Chuan Park Draws Strong Demand
Mixed-Use Convenience at Union Square
Union Square Residences, a 40-storey condominium, comprises 366 residential apartments alongside commercial units on the first two floors. Located on Havelock Road, this 99-year leasehold property is part of the Union Square mixed-use development, integrating office spaces, retail, and F&B outlets, along with a co-living facility licensed for hotel use. The development revitalizes the former Central Mall and Central Square, transforming them into a dynamic, modernized precinct.
CDL’s Group CEO, Sherman Kwek, commented on the strong interest, attributing it to Union Square’s central location and its mixed-use advantages. “We are confident that the unique design and convenience of Union Square will continue to attract buyers,” he stated.
Ideal Location and Transit Access
Strategically located near Singapore’s CBD, Union Square Residences is within walking distance of MRT stations at Clarke Quay, Chinatown, and Fort Canning. Nearby attractions include the vibrant Clarke Quay. The soon-to-open CanningHill Square, and the Orchard Road shopping belt, all adding to the appeal of this project.
According to Marcus Chu, CEO of ERA Singapore, the launch offers buyers a rare opportunity to invest in a landmark development along the Singapore River, close to the bustling CBD. PropNex CEO Ismail Gafoor noted that buyers are drawn to the project’s mixed-use offerings and ideal location.
Rare Opportunity in District 1 (Strong Sales at Union Square Residences)
Located in District 1, Union Square Residences is a rare new project in the Rest of the Central Region (RCR). Mark Yip, CEO of Huttons Asia, remarked, “It’s been nearly a decade since the last new launch in District 1, Marina One Residences in 2014. Buyers are eager for properties that combine the convenience of city living. With proximity to leisure spots like Clarke Quay, Robertson Quay, and the upcoming CanningHill Square.”
This prime positioning makes Union Square Residences one of the last mixed-use projects within the Singapore River precinct, a fact that enhances its long-term investment potential.
Strong Sales Across Central Region Developments
Other notable developments in Singapore’s Core Central Region (CCR) have also achieved strong sales recently. For instance, The Collective at One Sophia, developed by SingHaiyi Group and Ultra Infinity, saw 35 units sold over Nov 6-7 at an average of S$2,750psf. This District 9 project, comprising 367 units, also includes a commercial tower with retail and office spaces.
In the CBD, several other major 99-year leasehold projects have demonstrated high demand. CanningHill Piers, launched in 2021, is now 97% sold at an average price of S$2,997psf. Midtown Modern, launched in May 2021, is fully sold at S$2,821psf on average. Midtown Bay has achieved 63% sales at S$3,090psf. And One Bernam has reached 70% sales at S$2,575psf, according to recent caveat filings.
Get more information on more new launches – The Orie (District 12), River Green (District 9). Bloomsbury Residences (District 5), Aurelle of Tampines (District 18), Arina East Residences (District 15), Aurea Condo (District 7) and Elta Condo (District 5.
