Standing 47 storeys above the Singapore River, CanningHill Piers is the most transformative mixed-use development to reshape the River Valley skyline since the original Liang Court complex opened in 1980. Launched in November 2021 by a joint venture between City Developments Limited (CDL), CapitaLand Development, and Ascott REIT, the project sold an extraordinary 509 units — roughly 73% of its 696-unit residential inventory — on its very first weekend, generating over S$1 billion in sales and marking one of the most emphatic private condo launches in Singapore’s post-pandemic era. The average transacted price of approximately S$2,887 psf placed it firmly at the premium end of the Rest of Central Region (RCR) spectrum, yet buyers queued overnight at the showflat, underscoring the depth of demand for integrated, transit-adjacent living within walking distance of the Central Business District. CanningHill Piers is not merely a residential tower; it is an entire precinct — connected by sky bridges and basement corridors to the Moxy Hotel, Somerset Liang Court serviced residences, and a revamped riverfront retail podium — offering a live-work-play proposition that is genuinely rare in Singapore’s real estate landscape. With District 6 (City Hall & River Valley) continuing to attract global capital and urban regeneration spending, the development arrives at a pivotal moment for one of the island’s most historically layered precincts.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
The Liang Court site, a 2.4-hectare plot straddling Clarke Quay and River Valley Road, was awarded to the CDL-CapitaLand-Ascott consortium in 2019 following a collective sale of the ageing Liang Court mall and serviced apartment complex. The land price of approximately S$1.508 billion represented a breakeven of roughly S$2,025 psf per plot ratio, which at the time analysts noted left limited margin for error — a constraint that ultimately shaped the project’s positioning as unabashedly premium-grade. The Urban Redevelopment Authority’s property transaction data confirms that 701 caveats were lodged across the residential component between the November 2021 launch and the issuance of the Temporary Occupation Permit in 2024, a completion timeline of roughly 28 months that benefited from both the developers’ track record and the relatively straightforward demolition of the existing low-rise podium. The 99-year leasehold tenure commenced in 2021, meaning buyers today are purchasing a lease with approximately 96 years remaining — sufficient for most mortgage tenures but worth noting in the context of long-term resale exit strategies.
Fort Canning MRT station, shared by the Downtown Line (DTL) and the North East Line (NEL) interchange, sits approximately a five-minute walk from the development’s main residential lobby via an undercover path through Fort Canning Park. This dual-line access is a material differentiator: NEL provides direct connectivity to Dhoby Ghaut, Orchard, and HarbourFront, while DTL reaches Bugis, Bayfront (Marina Bay Sands / Marina Bay Financial Centre), and Buona Vista without transfers. The Land Transport Authority’s network maps confirm that commuters can reach Raffles Place in roughly 12 minutes door-to-platform from CanningHill Piers. For context, the median travel time from comparable River Valley condos to the CBD hovers around 18–22 minutes, making Fort Canning MRT’s dual-line interchange a genuine commute premium. The broader District 6 precinct also benefits from proximity to the upcoming Orchard Road extension improvements and the Clarke Quay MRT station (NEL) just one stop away, ensuring redundant transit options that few mid-market RCR condos can match.
We track 699 sales and 0 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the CANNINGHILL PIERS dashboard.
- Average sale price: $2,613,407 across 699 transactions
- District 6 PSF ranking: Mid-range (top 67%)
- 99 yrs lease commencing from 2021 · RCR · D6 · 696 units
About CANNINGHILL PIERS
CANNINGHILL PIERS is a 99 yrs lease commencing from 2021 condominium, located at CLARKE QUAY in District 6 (High Street, Beach Road) (Rest of Central Region), developed by DBS Trustee Limited/Legend Commercial Trustee Pte Ltd/Legend Quay Pte Ltd, comprising 696 residential units, completed in 2021.
With approximately 94 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at CANNINGHILL PIERS:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 138 | $3,076 psf | $1,373,225 |
| 1 BR | 192 | $2,836 psf | $1,517,870 |
| 2 BR | 226 | $2,938 psf | $2,433,719 |
| 3 BR | 61 | $2,870 psf | $3,563,285 |
| 4 BR | 20 | $3,349 psf | $5,876,250 |
| 5+ BR | 62 | $2,963 psf | $7,434,355 |
Sales Market Overview
CANNINGHILL PIERS has recorded 699 sale transactions with an average transaction price of $2,613,407, ranging from $1,160,000 to $48,000,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 568 | $2,935 psf | $2,241,620 | — |
| 2022 | 81 | $2,984 psf | $3,873,440 | ↑ 1.7% |
| 2023 | 6 | $3,174 psf | $6,504,000 | ↑ 6.3% |
| 2024 | 14 | $2,989 psf | $3,917,229 | ↓ 5.8% |
| 2025 | 30 | $2,982 psf | $4,863,933 | ↓ 0.2% |
CANNINGHILL PIERS ranks in the top 67% of condos in District 6 by average PSF.
Compared to the RCR average of $2,049 psf, CANNINGHILL PIERS trades 43.7% above the segment benchmark.
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Competing Condos in District 6
Side-by-side comparison against the most actively traded condos in District 6 (High Street, Beach Road):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| EDEN RESIDENCES CAPITOL | 99 yrs lease commencing from 2011 | 39 | $3,394 psf | 16 |
| HIGH STREET CENTRE | 99 yrs lease commencing from 1969 | 65 | $1,801 psf | 1 |
Location Map
Map shows CANNINGHILL PIERS (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- CANNINGHILL PIERS
- Fort Canning MRT
- Clarke Quay MRT
- Chinatown MRT
- Chinatown MRT
- Dhoby Ghaut MRT
- Fairfield Methodist School (Primary)
- Singapore Management University
- School of the Arts
Nearby MRT Stations
CANNINGHILL PIERS is 110m from Fort Canning MRT (Downtown Line), with 22 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Fort Canning | DT20 | Downtown Line | 110m |
| Clarke Quay | NE5 | North-East Line | 390m |
| Chinatown | NE4 | North-East Line | 770m |
| Chinatown | DT19 | Downtown Line | 770m |
| Dhoby Ghaut | NS24 | North-South Line | 800m |
| Dhoby Ghaut | NE6 | North-East Line | 800m |
| Dhoby Ghaut | CC1 | Circle Line | 800m |
| City Hall | NS25 | North-South Line | 860m |
Nearby Schools
There are 9 schools within 2 km of CANNINGHILL PIERS, including 2 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Fairfield Methodist School (Primary) | Primary | 650m |
| Singapore Management University | Tertiary | 800m |
| School of the Arts | Jc | 1.0 km |
| Nanyang Academy of Fine Arts | Tertiary | 1.1 km |
| Kheng Cheng School | Primary | 1.2 km |
| Outram Secondary School | Secondary | 1.3 km |
| ACS (Junior) | Primary | 1.5 km |
| LASALLE College of the Arts | Tertiary | 1.8 km |
| Cantonment Primary School | Primary | 1.9 km |
CanningHill Piers assembles a constellation of locational and product strengths that collectively justify its premium pricing:
- Singapore River frontage. River-facing units on the upper floors command unobstructed views across Clarke Quay toward Marina Bay, a vista that cannot be built out under URA’s existing planning parameters for the area. In Singapore’s constrained land market, permanent views are a finite and appreciating asset.
- Integrated mixed-use ecosystem. Direct connectivity to the 460-room Moxy Hotel and the Somerset Liang Court serviced residences creates a hotel-services adjacency — concierge, F&B, event facilities — that is materially different from a standalone condo. The riverfront retail podium adds ground-level activation that makes evenings walkable without leaving the complex.
- Dual MRT interchange at doorstep. Fort Canning MRT (DTL/NEL) delivers two of Singapore’s five MRT lines within a five-minute walk. Cross-island commutes that typically require two transfers can often be completed in one, saving 10–15 minutes per journey — a compounding lifestyle dividend over the tenure of ownership.
- Tallest residential tower in River Valley. At 47 storeys, CanningHill Piers is the tallest building in the River Valley precinct. Upper-floor units from approximately the 30th storey enjoy truly panoramic city vistas, a scarcity premium reflected in the S$3,200–S$3,800 psf range achieved on penthouse-adjacent levels during the launch weekend.
- Institutional developer consortium. CDL and CapitaLand are two of Singapore’s largest and most financially robust listed developers. The Ascott REIT involvement adds hospitality management expertise directly embedded in the precinct. This consortium structure reduces completion and defect risk relative to a single-developer project, and the developers’ balance sheet strength underpins the quality covenant on finishes and facilities.
- District 6 urban regeneration tailwind. The Singapore Tourism Board and URA have both identified the Clarke Quay – Fort Canning – River Valley corridor as a priority heritage and lifestyle precinct. Ongoing public realm improvements, including the Fort Canning Park extension, the Singapore River promenade enhancement, and the planned Founders’ Memorial at Gardens by the Bay East, continuously lift the desirability of the surrounding neighbourhood. Use the price heatmap to visualise how District 6 PSF has trended relative to adjacent districts over the past five years.
No premium development is without risk, and prospective buyers and investors should weigh the following carefully:
- Leasehold decay on a 99-year tenure. The lease commenced in 2021. While 96 remaining years is commercially viable today, buyers planning to hold for 20–25 years will approach the 70–80 year threshold at which CPF usage restrictions and bank financing haircuts begin to meaningfully constrain the resale buyer pool. This is a structural, not cyclical, risk for very long-term holders.
- Entry PSF and capital appreciation ceiling. At an average launch PSF of approximately S$2,887 and upper floors trading above S$3,500 psf, CanningHill Piers entered at the highest PSF ever recorded for a 99-year leasehold product in the RCR. While location quality is unambiguous, the absolute quantum — many units exceeded S$3 million — constrains the breadth of the eventual resale buyer pool. Buyers should use the mortgage calculator and stamp duty calculator to stress-test total acquisition cost and monthly debt servicing before committing.
- Construction-phase noise and hotel adjacency. The integrated hotel and serviced residence component means the podium is a 24-hour activated environment. While this suits investors targeting short-term rental demand, owner-occupiers on lower and mid floors facing the podium should inspect unit orientation carefully and assess acoustic specifications before purchase.
- Interest rate sensitivity on large quantum loans. With many units financed at S$2.5 million or above, a 100 basis-point rise in mortgage rates adds roughly S$1,500–S$2,000 per month to debt servicing on a typical 75% LTV loan. Buyers should review the Monetary Authority of Singapore’s Total Debt Servicing Ratio (TDSR) framework and maintain conservative buffers given the quantum involved.
- Competition from future River Valley supply. Several adjacent sites, including the former UIC Building plot and potential future redevelopments along Kim Seng Road, could add fresh 99-year supply to the same micro-market within the next decade. While CanningHill Piers’ integrated positioning provides differentiation, investors should monitor the URA development pipeline via the comparison tool when tracking relative value.
- ✅ CBD Professionals (Singles & Couples): Fort Canning MRT dual-line interchange puts Raffles Place and Marina Bay within 12–15 minutes. The hotel-adjacent F&B and concierge services eliminate the need for a car. 1- and 2-bedroom units at S$1.5m–S$2.5m suit dual-income professional households with strong TDSR headroom.
- ✅ High-Net-Worth Long-Term Investors: River-facing upper-floor units offer permanent, unobstructable views in a UNESCO-adjacent heritage precinct. Institutional developers provide quality covenant. The integrated serviced residence next door supports strong short-term rental yields for investors licensed to sublease.
- ⚠️ Families Requiring 3–4 Bedrooms: CanningHill Piers offers 3-bedroom configurations, but total quantum for family-sized units often exceeds S$4 million — stretching TDSR for many households. School proximity (River Valley Primary and Anglo-Chinese School nearby) is excellent, but the riverfront entertainment district may not suit buyers seeking a quieter residential enclave for children.
- ⚠️ Upgraders from Nearby HDB Estates: The location and lifestyle proposition is compelling for upgraders from Toa Payoh, Queenstown, or Bishan, but the average PSF and minimum unit quantum place this firmly outside reach for most typical upgrader budgets. Those with substantial CPF savings from earlier property disposals are better positioned.
- ❌ Foreign Investors (ABSD-Paying): Effective Additional Buyer’s Stamp Duty for foreigners stands at 60% as of 2023 IRAS policy. At an average unit price of S$2.5m–S$4m, ABSD alone adds S$1.5m–S$2.4m in non-recoverable acquisition cost. CanningHill Piers’ premium pricing makes the ABSD drag particularly punishing on net returns; most foreign capital has rotated to commercial or hospitality assets to avoid residential ABSD.
- ❌ Short-Term Speculators: Seller’s Stamp Duty (SSD) of 12% applies to disposals within the first year, 8% in year two, and 4% in year three. Given the already-elevated entry PSF, achieving the capital gain needed to cover SSD, agent commissions, and legal costs within the penalised window is arithmetically challenging even in a rising market.
CanningHill Piers occupies a genuinely singular position in Singapore’s residential landscape. The combination of Singapore River frontage, a dual-line MRT interchange at the doorstep, an integrated hotel-hospitality precinct, and an institutional developer covenant is not replicated by any other 99-year leasehold project currently in the RCR pipeline. For the right buyer — a well-capitalised professional or long-term investor who values permanent views, lifestyle convenience, and precinct prestige over raw yield arithmetic — it represents a compelling and defensible acquisition in one of the island’s most durable urban corridors.
That said, the premium entry price leaves limited margin for macro headwinds. Buyers financing at or near the TDSR ceiling should stress-test carefully using the mortgage calculator and model downside scenarios where resale PSF softens 10–15% from launch levels. The 99-year leasehold structure demands a clear exit horizon: buyers planning to hold through to the 75-year mark will face a materially narrower resale pool than freehold equivalents in the same district. Overall verdict: a landmark address with a landmark price tag — appropriate for buyers whose financial profile matches the quantum, unsuitable for those stretching to the limit of affordability in pursuit of the address alone. For a side-by-side comparison against comparable RCR condos, explore the comparison tool.
FAQ
What is the average price for CANNINGHILL PIERS?
What is the rental yield for CANNINGHILL PIERS?
Is CANNINGHILL PIERS freehold or leasehold?
What unit types are available and what are the approximate price ranges?
CanningHill Piers offers a range of configurations from 1-bedroom (approximately 538 sq ft) to 5-bedroom penthouses (approximately 4,844 sq ft). At launch in November 2021, 1-bedroom units transacted from approximately S$1.5 million, 2-bedroom units from S$2.2 million, and 3-bedroom units from S$3.1 million. Upper-floor 4- and 5-bedroom units exceeded S$5 million and S$10 million respectively. Resale prices in the secondary market should be verified against the latest URA transaction records, as market conditions have evolved since the 2021 launch.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 699 transactions analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for CANNINGHILL PIERS
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
HDB Alternatives Nearby
Weighing CANNINGHILL PIERS against staying public? These HDB towns sit within walking or short-drive distance:
- Central Area — 4-room average $1,088,814 (550m away), an upgrader gap of about $1,550,000
- Kallang/whampoa — 4-room average $882,887 (1.3 km away), an upgrader gap of about $1,750,000
- Bukit Merah — 4-room average $894,787 (1.3 km away), an upgrader gap of about $1,750,000