The Clift occupies a McCallum Street address in the heart of District 1’s Raffles Place / CBD core, developed by Natwest Development — a unit within the Far East Organization stable. The 99-year leasehold project commenced its tenure in 2004 and reached TOP in 2011, leaving roughly 77 years on the clock as of 2026. Its 312 units are housed in a single landmark tower that has, since launch, served as one of the few pure-residential addresses embedded inside the Central Business District financial belt. Per URA caveat data, the project trades on a distinctive live-work proposition virtually no other CCR development can replicate at scale.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
District 1 — specifically the Raffles Place / Tanjong Pagar belt — is Singapore’s financial CBD, defined by Grade-A office towers, Lau Pa Sat, the Marina Bay financial sub-district, and a sub-5-minute walk to either Raffles Place MRT (EWL + NSL interchange) or Telok Ayer MRT (DTL). Residential stock in this pocket is intentionally scarce: most plots are zoned commercial, and the handful of 99LH residential towers — The Clift, Icon, Marina Bay Residences and a few peers — serve a narrowly defined “live-where-you-work” expat-banker tenant base. Since the April 2023 ABSD revision pushed foreigner rates to 60%, the CBD residential micro-market has become more dependent on Singaporean and PR owner-occupiers than on the foreign-buyer flow that anchored launches in the 2010s. Pricing is best benchmarked against the District 1 segment data rather than national CCR averages, because the CBD live-work thesis behaves differently from the Orchard / Leonie Hill prestige sub-market.
We track 71 sales and 1037 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE CLIFT dashboard.
- Average sale price: $1,178,474 across 71 transactions
- Estimated gross rental yield: 4.5%
- District 1 PSF ranking: Mid-range (top 63%)
- 99 yrs lease commencing from 2004 · CCR · D1 · 312 units
About THE CLIFT
THE CLIFT is a 99 yrs lease commencing from 2004 condominium, located at MCCALLUM STREET in District 1 (Raffles Place, Marina, Cecil, People's Park) (Core Central Region), developed by NATWEST DEVELOPMENT (PTE) LTD (FAR EAST ORGANIZATION), comprising 312 residential units, completed in 2011.
With approximately 77 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 THE CLIFT:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 12 | $2,013 psf | $996,917 |
| 1 BR | 37 | $2,015 psf | $1,052,235 |
| 2 BR | 22 | $1,894 psf | $1,489,818 |
Sales Market Overview
THE CLIFT has recorded 71 sale transactions with an average transaction price of $1,178,474, ranging from $900,000 to $1,675,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 7 | $1,959 psf | $1,090,000 | — |
| 2022 | 12 | $1,891 psf | $1,313,083 | ↓ 3.5% |
| 2023 | 14 | $1,983 psf | $1,221,357 | ↑ 4.9% |
| 2024 | 17 | $2,013 psf | $1,056,871 | ↑ 1.5% |
| 2025 | 19 | $2,023 psf | $1,208,889 | ↑ 0.5% |
| 2026 | 2 | $1,778 psf | $1,125,000 | ↓ 12.1% |
THE CLIFT ranks in the top 63% of condos in District 1 by average PSF.
Compared to the CCR average of $2,447 psf, THE CLIFT trades 19.2% below the segment benchmark.
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Rental Market Overview
THE CLIFT has recorded 1037 rental transactions with monthly rents averaging $4,462/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 805 | $4,211/mo | $2,500/mo | $6,125/mo |
| 2 BR | 232 | $5,333/mo | $3,100/mo | $7,200/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 203 | $3,728/mo |
| 2022 | 216 | $4,304/mo |
| 2023 | 200 | $4,991/mo |
| 2024 | 196 | $4,728/mo |
| 2025 | 181 | $4,551/mo |
| 2026 | 41 | $4,690/mo |
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Investment Analysis
Based on average rents and sale prices, THE CLIFT delivers an estimated gross rental yield of 4.5%. This places it among the higher-yielding condos in Singapore.
Competing Condos in District 1
Side-by-side comparison against the most actively traded condos in District 1 (Raffles Place, Marina, Cecil, People's Park):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| ONE MARINA GARDENS | 99 yrs lease commencing from 2023 | 937 | $2,957 psf | 621 |
| THE SAIL @ MARINA BAY | 99-year leasehold | 1111 | $2,011 psf | 268 |
| MARINA ONE RESIDENCES | 99 yrs lease commencing from 2011 | 1042 | $2,323 psf | 207 |
| UNION SQUARE RESIDENCES | 99 yrs lease commencing from 2024 | 366 | $3,159 psf | 148 |
| ONE SHENTON | 99 yrs lease commencing from 2005 | 341 | $1,774 psf | 104 |
Location Map
Map shows THE CLIFT (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE CLIFT
- Maxwell MRT
- Shenton Way MRT
- Tanjong Pagar MRT
- Telok Ayer MRT
- Downtown MRT
- Outram Secondary School
- Cantonment Primary School
- Fairfield Methodist School (Primary)
Nearby MRT Stations
THE CLIFT is 260m from Maxwell MRT (Thomson-East Coast Line), with 21 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Maxwell | TE18 | Thomson-East Coast Line | 260m |
| Shenton Way | TE19 | Thomson-East Coast Line | 310m |
| Tanjong Pagar | EW15 | East-West Line | 340m |
| Telok Ayer | DT18 | Downtown Line | 340m |
| Downtown | DT17 | Downtown Line | 600m |
| Raffles Place | NS26 | North-South Line | 650m |
| Raffles Place | EW14 | East-West Line | 650m |
| Chinatown | NE4 | North-East Line | 660m |
Nearby Schools
There are 4 schools within 2 km of THE CLIFT.
| School | Type | Distance |
|---|---|---|
| Outram Secondary School | Secondary | 1.4 km |
| Cantonment Primary School | Primary | 1.5 km |
| Fairfield Methodist School (Primary) | Primary | 1.8 km |
| Singapore Management University | Tertiary | 1.9 km |
- Pure CBD live-work address — one of a small cluster of residential towers physically embedded inside the financial district; daily commute to Marina Bay / Raffles Place offices measured in minutes on foot.
- Dual-line MRT redundancy — Raffles Place (EWL + NSL) and Telok Ayer (DTL) both within walking range, with the Downtown Line opening up direct access to Bugis and Bayfront. Visualise the catchment on the price heatmap.
- F&B and lifestyle density — Lau Pa Sat, Boat Quay, Telok Ayer’s heritage shophouse dining belt, and Marina Bay’s premium retail are all within a 10-minute walk; few CCR addresses can match this evening-economy density.
- Banker / expat rental thesis — CBD-based finance, legal and tech professionals on housing allowances have historically anchored a defensible (if cyclical) tenant pool. Compare against peers on the comparison tool.
- Far East Organization pedigree — one of Singapore’s largest private developers with deep asset-management resources, supporting consistent maintenance standards across the tenure.
- CBD tenant-cycle dependency — the rental thesis leans heavily on financial-sector hiring; banking layoffs, hybrid-work permanence and any structural shift away from CBD office occupancy translate directly into thinner tenant pools and softer rents.
- ABSD 60% foreigner ceiling — per IRAS, foreign buyers face a 60% surcharge, structurally thinning the natural buyer pool — particularly painful for CBD stock whose original demand thesis centred on expatriate foreign owners.
- 99LH decay clock — roughly 77 years remaining as of 2026; the project is on the cleaner side of the decay curve, but financing and CPF usage tighten meaningfully once it crosses the 60-year-remaining threshold. Model the trajectory via the lease decay calculator.
- Exit competition from new CBD launches — ongoing CBD-incentive rezonings and conversions of older commercial plots into mixed-use residential supply (e.g. Marina Bay / Tanjong Pagar pipeline) create direct exit competition for resale liquidity.
- Premium psf entry — CBD residential psf typically runs at a meaningful premium to the broader CCR average, compressing achievable gross yields versus more conventional Orchard or River Valley peers.
The Clift fits the buyer who specifically wants to live inside the CBD — the senior banker, lawyer or tech executive whose office is within a 10-minute walk and who values reclaiming that commute over almost any other amenity. Singaporean and PR owner-occupiers underwriting it as a primary residence will find the live-work convenience genuinely hard to replicate. Investors with conviction in the long-run CBD tenant story, who can tolerate the cyclicality of financial-sector hiring and the higher psf entry, will find a defensible (if not yield-leading) rental asset. Buyers chasing pure capital growth should weigh exit competition from newer CBD-incentive launches carefully, and foreign buyers without long-term PR intent should stress-test the 60% ABSD against any plausible holding-period appreciation before committing.
The Clift remains a credible hold for buyers who understand exactly what they are buying: a scarce pure-CBD live-work address with dual-line MRT redundancy and best-in-class F&B / lifestyle density, sitting on a 99LH tail that is still comfortably long. The honest caveats: the rental thesis is structurally tied to CBD office occupancy and financial-sector hiring, premium psf compresses yields versus broader CCR peers, and the exit pool faces ongoing competition from newer CBD-incentive launches. Treat it as a live-work lifestyle play with a defensible (if cyclical) rental kicker — not a pure capital-growth or yield-maximising bet.
FAQ
What is the average price for THE CLIFT?
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Is THE CLIFT freehold or leasehold?
How many units are in the development?
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What ABSD applies to foreign buyers?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 71 transactions analysed
- Rental data: 1037 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 THE CLIFT
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.