District 1 delivers Singapore's most prestigious CBD addresses with gross rental yields of 3.0–5.2% for 2BR units. Entry prices start ~S$1.5M for leasehold; ultra-luxury (Wallich Residence) commands S$4M+ yet yields above 3%. Finance and expat executive demand underpins occupancy year-round. One Shenton leads at ~5.2% on lower PSF base.
District 1 — Raffles Place, Marina Bay, Cecil Street, People's Park — is Singapore's financial heartland. MBFC, One Raffles Quay, and Asia Square towers house APAC HQs of Goldman Sachs, JPMorgan, Citibank, Standard Chartered, and dozens of global asset managers. These generate a steady pipeline of high-income tenants: senior investment bankers, fund managers, private equity principals, and expat executives on relocation packages.
Unlike retail-driven rental markets, D1 demand is employer-led. Corporate housing budgets for MD-level hires routinely reach S$10,000–S$18,000/month for 2-3BR. Tenancy agreements often 2-3 years — reducing vacancy. The launch of One Marina Gardens (S$2,953 psf avg, 2023) and W Residences Marina View (S$3,344 psf) signals continued developer confidence.
D1 trades at premium to RCR. 2BR PSF ranges S$1,684 (One Shenton, older 99-yr) to S$3,100+ (Wallich Residence) vs CCR avg S$2,000–S$2,400. Marina South precinct slated for ~10,000 new homes over the next decade as part of URA's Long-Term Plan Review.
Foreigners pay 60% ABSD since April 2023. At S$2.4M (typical 2BR Marina Bay Residences), ABSD = S$1.44M — nearly doubling equity requirement, per IRAS.
Rental yield is the rawest measure of cash-flow-to-capital efficiency in any condo purchase. In Singapore, gross yields typically range from 2.5% in the CCR to 4.5% in the OCR, with mass-market one-bedders often at the top of that band. This article ranks condos by recent rental and sales data to surface the highest-yielding options in the selected district — but remember that yield alone does not tell the whole story: liquidity, tenure, and capital appreciation matter too.
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District 1 (Raffles Place, Marina, Cecil, People's Park) is in Singapore's Core Central Region. We ranked all condos in this district by gross rental yield using the latest 24 months of sales data and 12 months of rental data to find the best income-generating properties.
Top Rental Yield Condos in District 1
| Condo | Avg PSF | Avg Price | Avg Rent | Gross Yield | Tenure |
|---|---|---|---|---|---|
| THE CLIFT | $2,002 psf | $1,144,563 | $4,542/mo | 4.8% | 99 yrs lease commencing from 2004 |
| MARINA BAY RESIDENCES | $2,250 psf | $2,802,895 | $10,291/mo | 4.4% | 99 yrs lease commencing from 2005 |
| PEOPLE'S PARK COMPLEX | $1,287 psf | $1,052,275 | $3,650/mo | 4.2% | 99 yrs lease commencing from 1968 |
| MARINA BAY SUITES | $1,951 psf | $3,667,197 | $12,541/mo | 4.1% | 99 yrs lease commencing from 2007 |
| ONE SHENTON | $1,852 psf | $1,789,997 | $6,102/mo | 4.1% | 99 yrs lease commencing from 2005 |
| ROBINSON SUITES | $2,332 psf | $1,190,000 | $3,890/mo | 3.9% | Freehold |
| RIVERWALK APARTMENTS | $1,632 psf | $1,802,917 | $5,766/mo | 3.8% | 99 yrs lease commencing from 1980 |
| THE SAIL @ MARINA BAY | $2,075 psf | $1,933,859 | $6,089/mo | 3.8% | 99-year leasehold |
| V ON SHENTON | $1,988 psf | $1,738,646 | $5,435/mo | 3.8% | 99 yrs lease commencing from 2011 |
| MARINA ONE RESIDENCES | $2,002 psf | $2,149,653 | $6,615/mo | 3.7% | 99 yrs lease commencing from 2011 |
| PEOPLE'S PARK CENTRE | $903 psf | $2,144,000 | $5,109/mo | 2.9% | 99 yrs lease commencing from 1970 |
| EMERALD GARDEN | $2,242 psf | $2,748,361 | $5,335/mo | 2.3% | 999 yrs lease commencing from 1827 |
Investment Considerations
- Gross vs net yield: Deduct maintenance fees (~$300–$800/mo), property tax, and agent commission (1 month) for a realistic net yield.
- Tenant demand: Higher yields often come from smaller units near MRT stations or business hubs — check vacancy rates.
- Capital appreciation: High-yield condos may have lower capital growth; balance yield with appreciation potential.
- Use the ROI Calculator to model your total return including leverage.
- Compare across districts with the District Comparison Tool.
Verified transaction data for six established D1 developments (URA caveats + rental data 2022–2026):
| Project | Tenure | Avg PSF | Median 2BR Rent | Gross Yield |
|---|---|---|---|---|
| The Sail @ Marina Bay | 99-yr (2002) | $2,029 | $6,405 | 4.3% |
| Marina One Residences | 99-yr (2011) | $2,102 | $7,400 | 3.7% |
| Marina Bay Residences | 99-yr (2005) | $2,155 | $8,000 | 4.1% |
| V on Shenton | 99-yr (2011) | $1,901 | $6,000 | 3.6% |
| One Shenton | 99-yr (2005) | $1,684 | $6,436 | 5.2% |
| Wallich Residence | 99-yr (2014) | $3,100 | $10,200 | 3.0% |
One Shenton highest yield (5.2%) — lower PSF + Shenton Way office tenant demand. The Sail oldest but iconic twin-tower + 886 sqft avg 2BR keeps entry below S$1.8M. Wallich Residence highest absolute rent at S$10,200/month but compressed yield 3.0%. One Marina Gardens (S$2,953) and W Residences (S$2,925–S$3,344) initial yields likely 2.8–3.4%.
- Match unit size to tenant profile. Corporate finance tenants need 2BR with dedicated study (~950+ sqft). S$600–$1,000/month differential improves yield.
- Run ABSD numbers on total equity, not just price. Foreigner 60% on S$2.4M = S$3.84M total equity outlay.
- Favour shorter remaining lease for yield, longer for capital preservation. The Sail (2002) and Marina Bay Residences (2005) offer best current yields with accelerating decay risk beyond 2060.
- Verify tenancy standing before offer. Well-run D1 properties have 85–95% occupancy.
- Model net yield not gross. Property tax + maintenance ($350–$600/month) + insurance reduce gross by 0.8–1.2pp.
- Monitor Marina South launch pipeline for yield compression signals.
Methodology & Sources
This analysis covers full-year 2026 data and refreshes one-time.
Transaction data sourced from URA REALIS.
- Sales data: URA REALIS (past 24 months, min 2 transactions per condo)
- Rental data: URA REALIS (past 12 months, min 2 leases per condo)
- Gross yield = (avg monthly rent × 12) / avg transaction price × 100
Median values used to minimise outlier impact. PSF = price per square foot.
Frequently Asked Questions
What is a good gross rental yield in Singapore?
Why does yield matter more than capital gain?
Should I buy freehold or leasehold for rental yield?
Who are typical D1 tenants?
Corporate finance/professional services — senior bankers, fund managers, PE executives, expat executives at MBFC, One Raffles Quay, Asia Square, Shenton Way. Corporate housing budgets generous, 2-3 year tenancies common.
How does 60% ABSD affect investment case for foreigners?
On S$2.4M 2BR, ABSD = S$1.44M. True all-in cost S$3.84M before legal/reno. Effective gross yield on deployed capital drops to ~2.5%. Most professional investors run post-ABSD IRR over 7-10 years.
How do One Marina Gardens and W Residences Marina View compare?
Both ultra-prime new launches. Estimated initial gross yields 2.8–3.4% based on sub-district benchmarks. Below established stock — buyers pricing in capital appreciation from rezoning premium and Marina South precinct narrative.
Best D1 condo for SPRs buying for rental income?
SPRs pay 5% ABSD on first, 30% on second. For first investment property: One Shenton compelling — lower PSF S$1,684, strong 2BR rent S$6,436, computed gross yield above 5%. Marina One Residences and V on Shenton also strong for newer leasehold.
Are D1 rental yields rising or falling?
D1 rents rose sharply 2022-2023 on post-pandemic office reopening. From mid-2024, growth moderated. As of early 2026, 2BR rents in established projects held relatively steady. Marina South 10,000-unit supply pipeline is medium-term headwind.