The Waterside stands as one of Tanjong Rhu’s most enduring residential landmarks — a freehold condominium completed in 1993 that occupies a sweeping waterfront site at 1–13 Tanjong Rhu Road in District 15. With 502 units spread across seven low-rise and mid-rise blocks rising to 23 storeys, the development offers a scale and generosity of space that newer projects on comparably sized sites rarely replicate. Its freehold tenure means that owners hold the land title in perpetuity, with no expiry clock ticking against their asset — a quality increasingly scarce along the Singapore waterfront. Situated along the Kallang Basin, the development commands unobstructed sightlines toward Marina Bay and the city skyline from its upper floors, while ground-level residents enjoy direct proximity to the waterway promenade. For buyers seeking a large-format, tenure-secure home in a mature, well-connected enclave, The Waterside occupies a rare niche in the resale market.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Tanjong Rhu is one of Singapore’s quieter residential pockets — geographically lodged between the Kallang Basin waterfront to the north and the broader East Coast belt to the south, yet connected to the city core in minutes via the Thomson–East Coast Line (TEL). The opening of Tanjong Rhu MRT (TE23) and Katong Park MRT (TE24) on the TEL transformed the neighbourhood’s accessibility profile: Marina Bay is roughly four stops north, Orchard is reachable with one interchange, and the airport sits at the eastern end of the same line. Before the TEL opened, the area’s only rail link required a bus connector to the EWL or NEL; that friction suppressed demand and kept prices at a relative discount to comparable D15 addresses. That discount has been progressively unwound.
District 15’s Rest of Central Region (RCR) designation means The Waterside sits in a mid-market pricing band institutionally — not Core Central Region (CCR) prestige, but above the OCR mass market. According to URA transaction data, The Waterside’s resale prices in 2024–2025 ranged from approximately S$1,961 psf to S$2,294 psf, with a trailing average near S$2,174 psf — a valuation band that reflects the freehold premium, the generous unit sizes, and the waterfront setting. The land area of approximately 65,588 sqm gives the site a plot ratio and gross floor area (137,734 sqm) that would be financially impossible to replicate on a fresh GLS site today: in 2025, a nearby Tanjong Rhu GLS plot attracted a top bid of around S$1,455 psf ppr, underscoring why the completed freehold stock commands a premium over speculative new launches. Rental demand is driven by a combination of expatriate families drawn to the East Coast lifestyle and local upgrader households who want space, greenery, and convenient city access.
We track 93 sales and 632 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE WATERSIDE dashboard.
- Average sale price: $4,227,588 across 93 transactions
- Estimated gross rental yield: 2.2%
- District 15 PSF ranking: Premium tier (top 22%)
- Freehold tenure · RCR · D15 · 502 units
About THE WATERSIDE
THE WATERSIDE is a freehold condominium, located at TANJONG RHU ROAD in District 15 (Joo Chiat, Amber Road, Katong) (Rest of Central Region), comprising 502 residential units.
As a freehold property, THE WATERSIDE does not face lease decay concerns.
Sales Market Overview
THE WATERSIDE has recorded 93 sale transactions with an average transaction price of $4,227,588, ranging from $3,160,000 to $6,050,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 29 | $1,692 psf | $3,870,999 | — |
| 2022 | 25 | $1,778 psf | $4,041,120 | ↑ 5.1% |
| 2023 | 15 | $1,814 psf | $4,171,533 | ↑ 2.0% |
| 2024 | 8 | $1,965 psf | $4,415,711 | ↑ 8.3% |
| 2025 | 9 | $2,131 psf | $4,888,889 | ↑ 8.4% |
| 2026 | 7 | $2,318 psf | $5,425,714 | ↑ 8.8% |
THE WATERSIDE ranks in the top 22% of condos in District 15 by average PSF.
Compared to the RCR average of $2,049 psf, THE WATERSIDE trades 9.8% below the segment benchmark.
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Rental Market Overview
THE WATERSIDE has recorded 632 rental transactions with monthly rents averaging $7,764/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 632 | $7,764/mo | $4,200/mo | $12,750/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 121 | $6,151/mo |
| 2022 | 136 | $7,053/mo |
| 2023 | 105 | $8,660/mo |
| 2024 | 132 | $8,440/mo |
| 2025 | 110 | $8,627/mo |
| 2026 | 28 | $8,250/mo |
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Investment Analysis
Based on average rents and sale prices, THE WATERSIDE delivers an estimated gross rental yield of 2.2%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
Competing Condos in District 15
Side-by-side comparison against the most actively traded condos in District 15 (Joo Chiat, Amber Road, Katong):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | 1008 | $2,536 psf | 911 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | 846 | $2,640 psf | 844 |
| THE CONTINUUM | Freehold | 816 | $2,790 psf | 766 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | 638 | $2,466 psf | 641 |
| AMBER PARK | Freehold | 592 | $2,546 psf | 394 |
Location Map
Map shows THE WATERSIDE (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE WATERSIDE
- Katong Park MRT
- Mountbatten MRT
- Stadium MRT
- Tanjong Rhu MRT
- Dakota MRT
- One World International School (Mountbatten)
- Geylang Methodist School (Primary)
- Geylang Methodist School (Secondary)
Nearby MRT Stations
THE WATERSIDE is 250m from Katong Park MRT (Thomson-East Coast Line), with 6 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Katong Park | TE24 | Thomson-East Coast Line | 250m |
| Mountbatten | CC7 | Circle Line | 1.0 km |
| Stadium | CC6 | Circle Line | 1.1 km |
| Tanjong Rhu | TE23 | Thomson-East Coast Line | 1.2 km |
| Dakota | CC8 | Circle Line | 1.5 km |
| Tanjong Katong | TE25 | Thomson-East Coast Line | 1.5 km |
Nearby Schools
There are 4 schools within 2 km of THE WATERSIDE.
| School | Type | Distance |
|---|---|---|
| One World International School (Mountbatten) | International | 1.4 km |
| Geylang Methodist School (Primary) | Primary | 1.8 km |
| Geylang Methodist School (Secondary) | Secondary | 1.8 km |
| Tanjong Katong Primary School | Primary | 1.9 km |
The Waterside’s most durable investment attribute is its freehold tenure. In a city-state where over 80 percent of private residential land is leasehold, freehold status confers a structural advantage: no lease decay to discount in valuations, full eligibility for CPF usage regardless of remaining tenure, and the ability to pass the asset to heirs without a diminishing capital base. Over a 30-year holding horizon, the compounding effect of avoided lease decay is material — buyers exploring this further can model the impact using ShiokNest’s lease decay calculator.
The waterfront and skyline views from mid-to-upper floors are a second structural differentiator. Views of the Kallang Basin, the Marina Bay skyline, and the East Coast waterway are difficult to replicate in a densely built urban context. Unlike views of interior courtyards or road-facing facades, basin and sea-facing views are protected by the water body itself — no future development can obstruct them from the north-facing orientation.
The facility offering reflects the 1990s benchmark for large-format developments: an Olympic-length lap pool, wading pool, two tennis courts, three squash courts, a fully equipped gymnasium, two saunas, a jogging track with exercise stations, five barbecue huts, a clubhouse, multipurpose rooms, and children’s playgrounds. The sheer footprint of the site means that these facilities are well-spaced — a contrast to many newer developments where amenities are stacked on a 2,000 sqm land parcel.
On unit sizes, The Waterside offers a range of 1,163 sqft (108 sqm) to over 3,000 sqft (279 sqm), with most units in the 1,500–2,500 sqft band. This generosity of floor plate is another quality that new launches in comparable price bands no longer offer: the average new condo in Singapore’s 2024–2025 launch cycle has been shrinking toward the 600–900 sqft band for two-bedders. Buyers who need liveable space for families will find The Waterside’s unit sizes dramatically more practical.
The school catchment is a practical strength for family buyers. Dunman High School is directly opposite the development — a High School and Junior College hybrid institution with strong academic standing and a distinctive integrated programme. Within a 1–2 km radius, Tanjong Katong Primary, Tanjong Katong Girls’ School, and Chung Cheng High School are reachable for primary and secondary enrolment balloting purposes.
The TEL connectivity upgrade completed the location’s value proposition. Tanjong Rhu MRT (TE23) and Katong Park MRT (TE24) provide direct rail access to Marina Bay (TE20), Stevens interchange (TE11/DT10), and Woodlands in the north. Residents can reach the CBD in under 15 minutes by rail — a journey that previously required a bus-and-train combination of 30–40 minutes. This accessibility upgrade has been a primary driver of the 2023–2025 price recovery in the Tanjong Rhu micro-market.
The Waterside’s age — now over 30 years — introduces specific considerations that buyers should price in carefully. Maintenance and sinking fund exposure is the most immediate: at 30-plus years, lift upgrades, waterproofing, M&E systems, and pool deck resurfacing will fall due within the next one to two management cycles. Prospective buyers should request AGM minutes and the sinking fund balance before committing; a well-managed MCST will have accumulated reserves, while an underfunded one may levy special contributions.
Rental yield compression is a second consideration. At the trailing rental average of approximately S$3.76–S$3.79 psf per month and a capital value near S$2,174 psf, the gross yield sits around 2.1 percent — below the 3.0–3.5 percent threshold that pure yield investors typically target. The Waterside is more accurately positioned as a capital-appreciation and own-use play than a rental income story. Buyers focused on yield optimisation may find other D15 properties more compelling on a pure income basis.
Unit size and absolute quantum may limit the buyer pool. A 1,800 sqft unit at S$2,174 psf carries an absolute price of approximately S$3.9 million — a quantum that triggers the 20 percent ABSD for second-property Singapore Citizens, 30 percent for Permanent Residents on a first purchase, and 60 percent for foreigners. This narrows the effective demand pool and can slow price discovery in softer market conditions. Buyers should model their ABSD exposure using ShiokNest’s stamp duty calculator and assess affordability against their debt service ratios at TDSR.
The development’s older design language — large common corridors, conventional facade treatments, and 1990s bathrooms — is a lifestyle consideration for buyers accustomed to the finishes of 2020s launches. Many owners have renovated interiors comprehensively, but the common areas retain their vintage character. Buyers should inspect the specific unit, not merely the marketing photographs of renovated show-flat analogues.
Finally, while the freehold tenure is advantageous, it does not insulate The Waterside from en bloc risk — it increases it. A development of 502 freehold units on approximately 65,588 sqm of prime waterfront land represents significant redevelopment potential. If the en bloc premium is attractive, collective sale can displace owners who wish to remain. Buyers should assess their tolerance for this risk alongside the upside scenario it represents.
- ✅ Family upgrader seeking space and school proximity: Unit sizes of 1,500–2,500 sqft are family-practical, Dunman High is directly opposite, and freehold tenure supports intergenerational planning. TEL connectivity keeps the school-and-work commute manageable.
- ✅ Freehold capital-preservation investor with 10-year horizon: Perpetual tenure eliminates lease decay risk, waterfront scarcity and the TEL upgrade underpin long-term demand, and the en bloc optionality provides an upside scenario on a large land parcel.
- ✅ Expatriate renter-turned-buyer seeking East Coast lifestyle: Proximity to East Coast Park, the waterfront promenade, and established F&B clusters suits lifestyle-led buyers. The spacious units accommodate the furnishing expectations of executives on expat packages.
- ⚠️ Pure rental yield investor: At ~2.1% gross yield, The Waterside is below target for yield-first strategies. Rental demand is stable but the high capital quantum limits net returns unless significant capital appreciation is realised.
- ❌ First-time buyer or small-budget investor: Absolute price quantum of S$3–4+ million for most units places The Waterside well outside entry-level budgets. ABSD on second property and TDSR constraints will screen out most first-timers.
The Waterside is a rare intersection of freehold tenure, genuine waterfront positioning, and family-scale unit sizes at a Singapore address that has been structurally re-rated by the TEL. For buyers who place a premium on tenure security, liveable space, and long-run capital preservation, it competes favourably with newer leasehold launches in D15 that command similar per-square-foot prices on much smaller floor plates. The trade-off is a 30-year-old building requiring diligent pre-purchase MCST due diligence, a thin rental yield for income investors, and a high absolute purchase quantum that concentrates demand in the upgrader and investment-grade buyer segments.
The development is best suited to buyers with a 7–15 year horizon who want a proven address rather than an unproven new launch premium. Those considering the purchase should model their total acquisition cost — including ABSD and stamp duty — using ShiokNest’s total cost calculator, assess their mortgage servicing capacity at mortgage calculator, and review comparable D15 freehold transactions at District 15 analytics before committing. Buyers evaluating whether to purchase outright or decouple with a spouse for ABSD savings can model both scenarios using the decoupling calculator.
FAQ
What is the average price for THE WATERSIDE?
What is the rental yield for THE WATERSIDE?
Is THE WATERSIDE freehold or leasehold?
Which MRT stations serve The Waterside and how long does it take to reach the CBD?
The development is served by two Thomson–East Coast Line (TEL) stations: Tanjong Rhu MRT (TE23) and Katong Park MRT (TE24), both within walking distance of different blocks within the site. Via the TEL, Marina Bay (TE20) is approximately four stops north, and the journey to the CBD takes roughly 10–15 minutes without interchange. Orchard Road is reachable via the Stevens interchange (TE11/DT10) in approximately 20 minutes. Before the TEL opened, rail access required a bus connection to the East-West or North-East Line, adding 15–20 minutes to the CBD commute. The TEL completion has been a primary driver of value uplift in the Tanjong Rhu micro-market since 2023.
How does the en bloc potential at The Waterside work?
The Waterside sits on approximately 65,588 sqm of freehold waterfront land — a plot size that holds significant redevelopment potential given current plot ratio and land values in D15. For a collective sale to proceed, owners holding at least 80 percent of the share value (for developments over 10 years old) must consent to the sale. If successful, all owners receive a share of the sale proceeds proportional to their share value, typically at a significant premium to the individual open market price. The risk is involuntary displacement for owners who do not wish to sell. The upside is a potential windfall premium of 20–40 percent or more above the open market value at the time of the collective sale, depending on market conditions and land demand from developers. You can compare comparable D15 transactions and track price trends at District 15 analytics.
What schools are near The Waterside?
Dunman High School — a prestigious integrated programme school combining secondary and junior college — is located directly opposite The Waterside on Tanjong Rhu Road. Within a 1–2 km radius, families will find Tanjong Katong Primary School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and Chung Cheng High School (Main). Schoolhouse By The Bay and other preschools also operate in the neighbourhood. For families whose purchase decision is school-driven, proximity to Dunman High is a meaningful differentiator — it simplifies secondary school balloting and eliminates long daily commutes for school-age children.
Is The Waterside suitable for foreign buyers given ABSD rates?
Foreign buyers currently face a 60 percent Additional Buyer’s Stamp Duty (ABSD) on residential property purchases in Singapore, which effectively doubles the total acquisition cost on most transactions. At a typical transaction price of S$3–5 million at The Waterside, the ABSD alone would add S$1.8–3 million to the total outlay, making direct individual ownership economically prohibitive for most foreign nationals. That said, foreigners who have obtained Singapore Permanent Residency pay a lower ABSD rate (currently 5% on the first property), and Singapore Citizens purchasing a first property pay 0% ABSD. According to buyer composition data, foreign nationals have historically represented approximately 17.9 percent of buyers at The Waterside, suggesting some cross-border demand even at elevated ABSD levels. Buyers should model their precise stamp duty exposure using ShiokNest’s stamp duty calculator before proceeding.
What due diligence should buyers conduct before purchasing at The Waterside?
Given the development’s age (completed 1993), buyers should prioritise four areas of due diligence. First, MCST financials: request the last two years of AGM minutes, the management fund balance, the sinking fund balance, and any pending or approved special levies. A well-managed MCST will have accumulated reserves sufficient to cover upcoming lift, M&E, and waterproofing replacements without special contributions. Second, unit condition: arrange a thorough inspection covering plumbing, electrical, waterproofing at bathrooms and balconies, and window seals — items that age significantly in a 30-year building even when interiors have been renovated. Third, total acquisition cost: compute ABSD, BSD, legal fees, and renovation budget before negotiating, as the all-in cost often surprises first-time buyers of resale units. Use ShiokNest’s total cost calculator for a comprehensive figure. Fourth, financing headroom: confirm that your TDSR and loan-to-value limits accommodate the quantum at TDSR calculator, and model the mortgage repayment at mortgage calculator.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 93 transactions analysed
- Rental data: 632 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 WATERSIDE
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 1,640 condo transactions recorded in District 15 over the last 12 months, 64% resale, 34% new sale, 2% sub sale. A resale-heavy mix points to an established market trading on fundamentals; a new-sale-heavy mix means developer launches are setting the price benchmarks.
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Price Index Check
The ShiokNest Price Index for District 15 reads 117.7 as of June 2026 — down 9.0% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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Upcoming Supply Pipeline
1 active Government Land Sales site in District 15 could add roughly 500 new units to local supply. Incoming supply of this scale tends to cap short-term price growth in the immediate area but also signals planning confidence in the location.
| Site | Street | Est. units | List | Status |
|---|---|---|---|---|
| Jalan Tembusu | — | ~500 | Confirmed | Awarded |
HDB Alternatives Nearby
Weighing THE WATERSIDE against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (420m away), an upgrader gap of about $3,400,000
- Geylang — 4-room average $761,443 (1 km away), an upgrader gap of about $3,500,000