Double Bay Residences is a well-established 99-year leasehold condominium nestled along Simei Street 4 in District 18, developed by Secure Venture Development (Simei) Pte Ltd — a UOL Group entity in joint venture with Kheng Leong. Comprising 646 units across 14 residential blocks rising to 13 storeys, the project obtained its Temporary Occupation Permit in 2012 and has since matured into one of the more recognisable addresses in the Simei precinct. Its defining locational advantage is proximity to Simei MRT station (EW3, East-West Line), which sits within a short level walk and connects residents directly to Tampines Regional Centre, Paya Lebar sub-regional hub, and the Raffles Place CBD corridor. Adjacent to the development, Eastpoint Mall provides residents with daily-necessity retail, dining, and a supermarket without the need to commute. Bedok Reservoir Park, a 67-hectare freshwater reservoir flanked by recreational trails, kayaking facilities, and nature corridors, lies a short drive or cycling route away, adding lifestyle breadth that is uncommon for suburban condominiums. At current resale pricing of roughly S$1,400–S$1,465 per square foot on average — with the trailing-twelve-month band spanning S$967 psf to S$1,615 psf — Double Bay Residences occupies a mid-tier OCR price band that continues to attract owner-occupiers upgrading from HDB, as well as yield-focused investors seeking a mature asset with a stable tenant pool drawn from the Changi–Tampines employment corridor.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
To understand Double Bay Residences in its proper market context, one must appreciate the structural characteristics of the Simei micro-market and the broader District 18 landscape. District 18 encompasses the planning areas of Tampines, Simei, and Pasir Ris — all mature HDB towns anchored by regional shopping malls, polyclinics, schools, and expressway access via the Pan-Island Expressway (PIE) and Tampines Expressway (TPE). Simei itself is a smaller, quieter precinct wedged between the busier Tampines commercial hub to the north and the Changi employment zone — home to Changi Airport, logistics parks, and aerospace facilities — to the south-east. This dual-employment anchor (Tampines Regional Centre to the northwest, Changi Business Park and Airport vicinity to the south-east) creates a distinctive tenant demand profile: professionals in aviation, logistics, and technology sectors who value the EWL's direct connectivity to both their workplaces and the CBD.
When Double Bay Residences launched in 2008, the indicative pricing hovered around S$700–S$750 psf — typical for OCR launches of that cycle. By 2012, at TOP, units were already transacting in the high-S$800s to low-S$900s psf range, reflecting the broader post-global-financial-crisis recovery. The subsequent decade saw steady appreciation: data from the URA and various listing portals confirm that average transacted PSF has climbed from approximately S$900 in 2015 to the S$1,400-plus level observed in 2025, representing roughly 55–60% nominal capital appreciation over a decade. This trajectory broadly mirrors the OCR private residential price index compiled by the URA, which underscores how Double Bay Residences — despite its leasehold tenure now standing at under 82 remaining years — has tracked the market rather than underperformed it. Lease decay, always a consideration for 99-year leasehold assets, becomes a progressively meaningful discount factor as the project crosses the 15-year mark; buyers in the 2025–2026 window should factor a realistic leasehold discount into any hold-period analysis, particularly if targeting a resale exit beyond 2035. See our Lease Decay Calculator for a worked illustration of how the SLA-published lease decay curve affects valuation over various hold periods.
We track 145 sales and 681 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the DOUBLE BAY RESIDENCES dashboard.
- Average sale price: $1,555,738 across 145 transactions
- Estimated gross rental yield: 3.3%
- District 18 PSF ranking: Above average (top 40%)
- 99 yrs lease commencing from 2008 · OCR · D18 · 646 units
About DOUBLE BAY RESIDENCES
DOUBLE BAY RESIDENCES is a 99 yrs lease commencing from 2008 condominium, located at SIMEI STREET 4 in District 18 (Tampines, Pasir Ris) (Outside Central Region), developed by SECURE VENTURE DEVELOPMENT (SIMEI) PTE LTD, comprising 646 residential units, completed in 2012.
With approximately 81 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 DOUBLE BAY RESIDENCES:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 5 | $1,293 psf | $723,000 |
| 2 BR | 36 | $1,264 psf | $1,182,960 |
| 3 BR | 62 | $1,285 psf | $1,563,250 |
| 4 BR | 39 | $1,286 psf | $1,847,667 |
| 5+ BR | 3 | $944 psf | $3,466,667 |
Sales Market Overview
DOUBLE BAY RESIDENCES has recorded 145 sale transactions with an average transaction price of $1,555,738, ranging from $700,000 to $3,580,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 33 | $1,108 psf | $1,375,879 | — |
| 2022 | 32 | $1,192 psf | $1,436,928 | ↑ 7.6% |
| 2023 | 22 | $1,287 psf | $1,460,000 | ↑ 8.0% |
| 2024 | 24 | $1,367 psf | $1,629,891 | ↑ 6.2% |
| 2025 | 24 | $1,426 psf | $1,951,208 | ↑ 4.4% |
| 2026 | 10 | $1,459 psf | $1,613,000 | ↑ 2.3% |
DOUBLE BAY RESIDENCES ranks in the top 40% of condos in District 18 by average PSF.
Compared to the OCR average of $1,550 psf, DOUBLE BAY RESIDENCES trades 17.8% below the segment benchmark.
Loading chart data...
Rental Market Overview
DOUBLE BAY RESIDENCES has recorded 681 rental transactions with monthly rents averaging $4,280/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 51 | $2,660/mo | $1,800/mo | $3,500/mo |
| 2 BR | 270 | $3,721/mo | $2,200/mo | $5,500/mo |
| 3 BR | 303 | $4,743/mo | $3,000/mo | $6,550/mo |
| 4 BR | 52 | $5,485/mo | $3,900/mo | $7,000/mo |
| 5+ BR | 5 | $10,350/mo | $7,200/mo | $13,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 139 | $3,435/mo |
| 2022 | 143 | $4,077/mo |
| 2023 | 127 | $4,668/mo |
| 2024 | 119 | $4,683/mo |
| 2025 | 123 | $4,569/mo |
| 2026 | 30 | $4,731/mo |
Loading chart data...
Investment Analysis
Based on average rents and sale prices, DOUBLE BAY RESIDENCES delivers an estimated gross rental yield of 3.3%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 18
Side-by-side comparison against the most actively traded condos in District 18 (Tampines, Pasir Ris):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| TREASURE AT TAMPINES | 99-year leasehold | 2203 | $1,588 psf | 1176 |
| PARKTOWN RESIDENCE | 99 yrs lease commencing from 2023 | 1193 | $2,367 psf | 1164 |
| AURELLE OF TAMPINES | 99 yrs lease commencing from 2024 | 760 | $1,769 psf | 760 |
| TENET | 99 yrs lease commencing from 2021 | 618 | $1,386 psf | 618 |
| RIVELLE TAMPINES | 99 years leasehold | — | $1,933 psf | 570 |
Location Map
Map shows DOUBLE BAY RESIDENCES (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- DOUBLE BAY RESIDENCES
- Simei MRT
- Upper Changi MRT
- Expo MRT
- Expo MRT
- Park View Primary School
- Changkat Primary School
- Singapore University of Technology and Design
Nearby MRT Stations
DOUBLE BAY RESIDENCES is 420m from Simei MRT (East-West Line), with 4 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Simei | EW3 | East-West Line | 420m |
| Upper Changi | DT34 | Downtown Line | 580m |
| Expo | CG1 | East-West Line | 870m |
| Expo | DT35 | Downtown Line | 870m |
Nearby Schools
There are 14 schools within 2 km of DOUBLE BAY RESIDENCES, including 4 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Park View Primary School | Primary | 650m |
| Changkat Primary School | Primary | 830m |
| Singapore University of Technology and Design | Tertiary | 840m |
| Angsana Primary School | Primary | 910m |
| Springfield Secondary School | Secondary | 1.2 km |
| Ping Yi Secondary School | Secondary | 1.4 km |
| Chongzheng Primary School | Primary | 1.5 km |
| North London Collegiate School Singapore | International | 1.6 km |
| United World College of South East Asia (East) | International | 1.6 km |
| Fengshan Primary School | Primary | 1.7 km |
| Casuarina Primary School | Primary | 1.8 km |
| Poi Ching School | Primary | 1.9 km |
Double Bay Residences carries several genuine structural strengths that underpin its sustained resale liquidity and rental demand:
- Simei MRT (EW3) proximity — level-grade, under 5 minutes: In Singapore's transit-anchored property market, a true walking-distance MRT connection is among the strongest predictors of sustained buyer demand. Simei station sits on the East-West Line — one of Singapore's highest-frequency trunk lines — giving residents no-transfer access to Tampines (one stop east), Paya Lebar (four stops west), and Raffles Place in under 30 minutes. For rental, this is the primary draw for aviation and logistics professionals who value East-West Line connectivity above all else.
- Comprehensive facilities for a 646-unit project: The estate's clubhouse provisions are unusually generous — a 50-metre lap pool, lagoon pool, jungle pool, elevated jacuzzi, tennis court, half basketball court, sky gym, aerobic and yoga room, table tennis room, karaoke rooms, band and piano rooms, pool table, table-soccer room, games room, outdoor fitness station, jogging track, library, function room, and covered car park. Few OCR leasehold projects of this era matched this breadth of programming, which continues to justify a slight yield premium over less-amenitised comparables in the vicinity.
- Large unit mix including duplexes and penthouses: The project's 1-bedroom-through-5-bedroom spread, with duplex configurations and penthouse units, means it caters to multiple buyer segments simultaneously. A 1-bedroom investor, a 3-bedroom upgrader family, and a penthouse end-user can all find a home in the project — a diversity that sustains liquidity across market cycles. A 3,703-sqft penthouse transacted at S$3.58 million as recently as July 2025, confirming appetite for large-format units.
- Eastpoint Mall at the doorstep: Retail convenience is non-negotiable for renters and a strong retention driver for owner-occupiers. Eastpoint Mall houses a supermarket, food court, childcare, enrichment centres, and medical clinics — covering essentially the full spectrum of suburban daily needs without car dependency.
- Established precinct with mature HDB catchment: The Simei HDB heartland immediately surrounding the project is a perennial source of upgrader demand. Families exiting their HDB Minimum Occupation Period in the vicinity naturally gravitate toward Double Bay Residences as a nearby private upgrade, keeping the buyer pool replenished in each resale cycle.
For a district-level market context, see the District 18 market overview on ShiokNest, which tracks aggregated PSF trends, transaction volumes, and rental indices across the Tampines–Simei–Pasir Ris corridor.
No balanced review of Double Bay Residences can omit its genuine risk profile. Buyers and investors should weigh the following carefully before transacting:
- Lease tenure erosion: With the lease commencing in 2008, approximately 82 years remain as of 2026. While still comfortably financeable under MAS-regulated LTV rules (no mandatory haircut until sub-60 years), the project is approaching the phase where valuation discounts for remaining lease tenure begin to accumulate meaningfully. Banks typically begin shortening loan tenures around the 70-year remaining mark, which compresses buyer affordability at resale and may slow price growth relative to newer 99-year or freehold comparables. Anyone targeting a resale exit after 2035 should model this explicitly using tools such as the Lease Decay Calculator.
- New supply pipeline in the East: The 2025–2026 GLS (Government Land Sales) pipeline includes several confirmed sites in Districts 16–18 that will introduce fresher leasehold stock — with longer remaining tenures and modern layouts. New launches in Bedok and the Upper Changi corridor have been guiding at S$1,800–S$1,950 psf, which may draw aspirational upgraders away from ageing resale stock at Double Bay's price points.
- Management fees and maintenance age: A 14-block, 646-unit project with an extensive facilities list incurs substantial ongoing management costs. As the estate ages past its 15-year mark, sinking fund adequacy and maintenance levies warrant due diligence. Buyers should request the latest MCST audited accounts and review the sinking fund balance relative to upcoming lift, pool, and facade maintenance cycles.
- Simei micro-market liquidity ceiling: Despite proximity to Tampines, Simei itself remains a relatively small precinct with limited land for new development. While this creates some supply scarcity, it also means the secondary market depth is thinner than in the Tampines town centre itself — fewer comparable transactions per quarter, which can introduce pricing volatility in slow markets.
[
{
"persona": "HDB upgrader (East Singapore family)",
"fit_color": "green",
"reason": "Families in Simei, Tampines, or Bedok upgrading from HDB find Double Bay Residences a natural step-up. The familiar neighbourhood, mature schools catchment (Changkat Primary, Temasek Primary nearby), and MRT walkability make the transition seamless. The 3-bedroom and 4-bedroom units — still available in the low-S$1.5M–S$2.3M range — are within reach for dual-income households using CPF OA and moderate mortgage leverage."
},
{
"persona": "Yield-focused investor (Changi–Tampines employment belt)",
"fit_color": "green",
"reason": "The Changi Airport, Changi Business Park, and Tampines Regional Centre employment nodes generate consistent tenant demand from aviation professionals, IT staff, and logistics managers. Average rents at Double Bay Residences run S$4,500–S$6,500 per month for 2- to 3-bedroom units, translating to indicative gross yields of around 3.2%–3.8% on current transacted prices. This is not a yield outlier but is solid and stable for the OCR segment."
},
{
"persona": "En-bloc speculator",
"fit_color": "green",
"reason": "The project's 99-year land tenure, 14-block footprint, and District 18 land values make a collective sale a plausible long-dated optionality. However, at under 82 years remaining lease, the replacement premium math for a developer is still workable. Buyers who factor en-bloc optionality as a bonus — not a primary thesis — find this a reasonable speculative call. Those banking on imminent en-bloc should note that 80% owner consent thresholds make 646-unit projects complex to coordinate."
},
{
"persona": "Conservative capital preserver (no mortgage preferred)",
"fit_color": "yellow",
"reason": "The asset's current PSF range (S$1,400–S$1,465 average) already prices in much of the post-TOP appreciation. Investors seeking strong capital upside over a 5-year horizon face headwinds from lease decay, new-supply competition at fresher lease ages, and a macro environment where OCR price growth has moderated. Capital preservation is likely, but outperformance relative to the URA OCR index is not guaranteed. Use the <a href=\"/calculator/roi\">ROI Calculator</a> to stress-test entry assumptions."
},
{
"persona": "First-time private buyer (young couple, no children)",
"fit_color": "yellow",
"reason": "A 1-bedroom or 2-bedroom at Double Bay Residences can serve as a first private home, but buyers should weigh the leasehold clock against their intended hold period. If the plan involves selling in 10–15 years to upgrade, the remaining lease at point of exit (approximately 67–72 years) may constrain the buyer pool and require price concessions. Young couples with a short-to-medium horizon may find newer launches elsewhere in the East a better-structured entry, though at higher upfront PSF."
},
{
"persona": "Retiree downsizer seeking lifestyle amenities",
"fit_color": "green",
"reason": "The project's extensive facilities — lap pool, jacuzzi, gym, library, games rooms — and the level-access MRT connectivity suit active retirees exceptionally well. The Eastpoint Mall adjacency means car-free daily living is fully viable. Retirees who value asset simplicity over growth may find a 2-bedroom or 3-bedroom unit here a low-friction, high-comfort residential choice, particularly if they are downsizing from a larger landed or executive condominium in the East."
}
]
Double Bay Residences earns its place as a reliable, if unspectacular, OCR leasehold asset in Singapore's East. Its core proposition is straightforward: genuine MRT walkability, a comprehensively programmed estate, an established neighbourhood with deep HDB upgrader demand, and a stable tenant pool anchored by the Changi–Tampines employment belt. These fundamentals have supported steady capital appreciation since TOP — tracking the URA OCR index rather than outperforming it — and continue to underpin liquidity in a resale market where 145 tracked transactions confirm active secondary-market depth.
The caveats are real but manageable. Lease tenure erosion is the most material long-term factor: buyers with a hold horizon beyond 10 years should model the SLA lease decay curve carefully and price their exit assumptions conservatively. New supply in the East — particularly fresher 99-year leasehold stock from GLS sites in Districts 16–18 — will increasingly compete for the same upgrader buyer pool, capping PSF upside relative to the launch cycle of a decade ago.
For owner-occupiers seeking a well-connected, well-amenitised family home in mature District 18, Double Bay Residences remains a sound choice at prevailing prices. For investors, the yield proposition is adequate (3.2%–3.8% gross) and the tenant demand is durable, but buyers should enter with clear-eyed expectations about the leasehold discount trajectory. Run your numbers through our Mortgage Calculator, Stamp Duty Calculator, and Cash Flow Calculator before committing, and cross-reference the District 18 analytics page for the latest median PSF and rental data. A side-by-side comparison with nearby comparables such as Tampines Trilliant or The Santorini can help calibrate relative value before making an offer.
FAQ
What is the average price for DOUBLE BAY RESIDENCES?
What is the rental yield for DOUBLE BAY RESIDENCES?
Is DOUBLE BAY RESIDENCES freehold or leasehold?
How far is Double Bay Residences from Simei MRT?
Double Bay Residences is within a short level walk from Simei MRT station (EW3, East-West Line) — generally estimated at 3–5 minutes on foot from the nearest block entrance to the station concourse. The EWL provides direct, no-transfer access to Tampines (one stop east, approximately 3 minutes), Paya Lebar (four stops west, approximately 10 minutes), and Raffles Place in the CBD (approximately 28 minutes). Changi Airport is reachable via the EWL with one transfer at Tanah Merah, taking roughly 15–20 minutes total. This connectivity profile is the development's most enduring selling point and has consistently drawn tenants employed across the Changi–CBD corridor.
Is Double Bay Residences at risk of further lease decay discount?
Yes — lease tenure erosion is the primary long-term risk factor for buyers to model carefully. With the lease commencing in 2008, approximately 82 years remain as of 2026. Under the SLA-published leasehold value tables (widely used by banks and valuers), the discount from full freehold value increases non-linearly as remaining tenure falls. The meaningful financing constraint typically appears when remaining lease falls below 60 years — roughly around 2048 for Double Bay Residences — at which point MAS-regulated loan tenure restrictions may compress the buyer pool and discount resale prices relative to newer stock. Buyers planning a hold period of 10 years or more should stress-test exit pricing assumptions. ShiokNest's Lease Decay Calculator allows you to model how the SLA curve affects value at your intended exit year.
What unit types are available at Double Bay Residences?
Double Bay Residences offers a broad unit mix spanning 1-bedroom through 5-bedroom configurations, with the project also featuring duplex units and penthouse units across its 14 residential blocks and 646 total units. The diversity of unit types — from compact 1-bedroom investor units to large-format 3,700-sqft penthouses — means the project serves multiple buyer segments and maintains relatively broad secondary-market liquidity compared to single-type developments. Ground-floor and stack-end units with private enclosed spaces and roof terraces form part of the larger-format offerings. Buyers should engage a licensed salesperson for current available resale inventory, as unit availability changes with each transaction cycle.
How does Double Bay Residences compare to other District 18 condominiums?
Within District 18, Double Bay Residences sits in a mid-tier bracket — more comprehensively amenitised than older leasehold projects such as Simei Green or The Inflora, but without the newer lease age of more recently completed developments in the Tampines or Pasir Ris sub-markets. Its most direct comparables are similarly sized leasehold estates with MRT proximity, such as The Santorini (Tampines) and Arc at Tampines. Double Bay Residences generally trades at a slight discount to Tampines town centre projects due to the smaller Simei micro-market, but commands a premium over projects further from any MRT station. Use ShiokNest's Compare tool to run a structured side-by-side analysis on PSF, gross yield, and amenity profile against any comparable project in the East.
What stamp duties apply when purchasing a unit at Double Bay Residences?
All residential property purchases in Singapore are subject to Buyer's Stamp Duty (BSD) at progressive rates: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, and higher marginal rates above S$1.5 million (up to 6% on amounts exceeding S$3 million, per 2023 budget amendments). Additional Buyer's Stamp Duty (ABSD) applies for Singapore Citizens purchasing a second or subsequent residential property (20% from 2023), Singapore PRs purchasing any residential property (5% first, 30% second), and foreigners (60%). At a typical transaction price of around S$1.5M–S$2M for a 3-bedroom unit, BSD alone amounts to roughly S$42,600–S$62,600. Use ShiokNest's Stamp Duty Calculator for a precise computation based on your purchase price and buyer profile.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 145 transactions analysed
- Rental data: 681 lease records 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 DOUBLE BAY RESIDENCES
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.