Vela Bay arrives at a pivotal moment for Singapore's eastern coastline. Launched in April 2026 by SingHaiyi Group and Haiyi Holdings through their joint-venture entity Sing-Haiyi Garnet Pte. Ltd., this 515-unit, 99-year leasehold condominium on Bayshore Road in District 16 is the first private residential development in the newly master-planned Bayshore precinct — a coastal quarter that the Urban Redevelopment Authority envisions as a 60-hectare, purpose-built neighbourhood with roughly 10,000 homes, a tree-lined community spine, a new school, and a landscaped pedestrian bridge linking residents directly to East Coast Park. Rising across two towers of up to 31 storeys, Vela Bay commands an address that simply did not exist as a residential category five years ago. On its launch weekend of 25–26 April 2026, the project sold 371 units — 72 per cent of total supply — at an average price of $2,886 per square foot, validating both the developer's confidence in the location and the market's appetite for well-positioned, transit-integrated coastal living on Singapore's eastern fringe. For buyers weighing the proposition, the fundamentals are unusually legible: a brand-new precinct, a brand-new MRT line, and a government-backed coastal masterplan that is already moving from blueprint to bulldozer.
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 16 has long carried a quiet premium among Singaporeans who prize lifestyle over prestige. The broader Bedok and East Coast corridor is one of the island's most established residential belts — a low-rise, family-oriented neighbourhood anchored by East Coast Park's 15 kilometres of beachfront, cycling paths, and seafood villages. What it historically lacked was a direct, high-frequency rail connection to the Central Business District. That gap closed in 2023 with the progressive opening of the Thomson-East Coast Line (TEL), and Bayshore MRT (TE29) — a two-minute walk from Vela Bay's doorstep — is the pivotal station that reframes the entire submarket's accessibility story. A commuter boarding at Bayshore can reach Marina Bay in approximately 20 minutes and Orchard Road in roughly 30 minutes, without a transfer, fundamentally compressing the psychological distance between the East Coast and Singapore's two most economically productive corridors.
The wider neighbourhood context amplifies this: Parkway Parade, the anchor mall for the eastern belt with over 250 retail and dining outlets, sits approximately 1.5 kilometres away. Temasek Primary School — one of the schools most frequently cited by East Coast families — falls within a reported 1-kilometre radius, as does Temasek Secondary. The East Coast Park connector puts cycling to the beach or picnicking on the foreshore firmly within a five-minute walk. And looking further ahead, the Singapore government formally announced preparatory works for the Long Island coastal protection project in March 2026 — an 800-hectare reclamation initiative that will eventually create 20 kilometres of new waterfront parks along the southeastern shore while safeguarding the entire coast from rising sea levels. The direct implication for Bayshore Road residents is that the views, the green buffer, and the coastal character of this address are not incidental features: they are being institutionally preserved and extended by the state.
We track 371 sales and 0 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the VELA BAY dashboard.
- Average sale price: $2,358,472 across 371 transactions
- District 16 PSF ranking: Premium tier (top 1%)
- 99 years leasehold · OCR · D16
About VELA BAY
VELA BAY is a 99 years leasehold condominium, located at BAYSHORE WALK in District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive) (Outside Central Region).
Unit Mix Distribution
Transaction data breakdown by bedroom type at VELA BAY:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 18 | $2,809 psf | $1,360,444 |
| 1 BR | 180 | $2,855 psf | $1,840,437 |
| 2 BR | 76 | $2,790 psf | $2,473,469 |
| 3 BR | 81 | $2,954 psf | $3,196,586 |
| 4 BR | 16 | $3,049 psf | $4,519,954 |
Sales Market Overview
VELA BAY has recorded 371 sale transactions with an average transaction price of $2,358,472, ranging from $1,254,000 to $5,829,120.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2026 | 371 | $2,869 psf | $2,358,472 | — |
VELA BAY ranks in the top 1% of condos in District 16 by average PSF.
Compared to the OCR average of $1,550 psf, VELA BAY trades 85.1% above the segment benchmark.
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Competing Condos in District 16
Side-by-side comparison against the most actively traded condos in District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| PINERY RESIDENCES | 99 years leasehold | — | $2,550 psf | 549 |
| SCENECA RESIDENCE | 99 yrs lease commencing from 2021 | 268 | $2,084 psf | 269 |
| THE BAYSHORE | 99-year leasehold | 1038 | $1,232 psf | 245 |
| THE GLADES | 99 yrs lease commencing from 2013 | 726 | $1,613 psf | 226 |
| ECO | 99 yrs lease commencing from 2012 | 714 | $1,447 psf | 207 |
Several structural strengths converge at Vela Bay in a way that is genuinely uncommon in Singapore's Outside Central Region new-launch market. First and most consequential is transit integration at the precinct level. Unlike most OCR launches that trumpet a nearby MRT station measured at a somewhat optimistic walking time, Vela Bay is embedded within a precinct that was master-planned around Bayshore MRT from inception. The station, the community spine, and the residential towers were conceived as an ensemble, meaning the pedestrian connectivity is designed rather than retrofitted. For buyers using Singapore's mortgage calculator to assess affordability, the TEL's coverage of Marina Bay, Shenton Way, and the upcoming Founders' Memorial precinct strengthens the rental demand thesis: white-collar professionals working in the CBD corridor gain a materially convenient commute from this address.
Second, supply scarcity within the submarket is a genuine structural tailwind. The Bayshore GLS parcels are finite by design, and SingHaiyi's winning bid of $658.89 million — translating to $1,388 per square foot per plot ratio — represented competitive conviction in the land. Private residential supply in D16 has been light relative to demand for several years; the completion of Vela Bay will add 515 units to an area that had not seen a significant new private launch for an extended period. Buyers running a rental yield and return-on-investment calculation will note that newer condominiums in the OCR East Coast belt have historically achieved rental yields in the 3.5 to 4 per cent range — a range that holds attractiveness relative to Singapore government bond yields and in the context of a hard-landed-cost pricing structure.
Third, the unit mix is demonstrably demand-aligned. The two- and three-bedroom configurations accounted for approximately 83 per cent of units sold on launch day, consistent with the profile of buyers who actually absorb East Coast supply: young working couples, HDB upgraders from Bedok and Tampines, and small families who want genuine park proximity without the full CCR price quantum. Entry pricing from a reported approximately $1.2 million for one-bedders and the preponderance of two- and three-bedroom options from the $1.5 million range positions Vela Bay as accessible rather than speculative for the target demographic.
Finally, the Long Island macro-catalyst deserves explicit recognition as a long-duration upside driver. Preparatory works commenced in early 2026. The eventual 800-hectare reclamation, when realised over the coming decades, will not merely preserve the East Coast coastline — it will extend it, creating new park land and waterfront infrastructure directly adjacent to the Bayshore precinct. Singaporean property history consistently shows that addresses flanking major government infrastructure programmes accrue value as projects progress from planning to construction to completion. Vela Bay buyers are, in effect, acquiring a position in what may become one of the most transformed residential precincts on the island over the next 15 to 20 years.
An honest assessment of Vela Bay requires engaging with the pricing structure directly. At an average of $2,886 per square foot on launch, Vela Bay is priced at a level that reflects substantial developer confidence — and that confidence carries inherent execution risk. The $1,388 psf land cost is not modest for an OCR site, and buyers should use a total cost of acquisition calculator — factoring in Buyer's Stamp Duty, Additional Buyer's Stamp Duty for foreign buyers or second-property purchasers, legal fees, and renovation — before committing. For Singapore Citizens purchasing a second residential property, ABSD at 20 per cent of purchase price represents a material carrying cost that directly affects the yield hurdle. The stamp duty calculator and the Total Debt Servicing Ratio (TDSR) check are essential pre-commitment tools.
The 99-year leasehold tenure is a structural consideration for buyers with multi-generational planning horizons. At launch, approximately 73 years of lease remain by the mid-2090s when the lease expires. Buyers seeking to sell in the 2050s or 2060s will face the well-documented lease decay discount that Singapore banks and buyers apply to sub-60-year tenured properties. Running a lease decay projection will clarify the residual value trajectory under different holding period assumptions.
There is also the matter of precinct immaturity. Bayshore is a master plan, not yet a complete neighbourhood. The school, the full community spine, and the surrounding BTO complement are still under development. Buyers who move in during the initial phases will experience construction activity nearby as the precinct fills out — an inconvenience that typically resolves within five to seven years but is worth factoring into lifestyle planning. Additionally, while the Long Island project is an unambiguously positive long-term catalyst, it will involve marine construction activity off the East Coast over an extended period, with possible temporary impacts on beach access and coastal amenity during build phases.
[
{
"persona": "HDB Upgrader (Bedok / Tampines)",
"fit_color": "green",
"reason": "Vela Bay's two-bedroom entry point from approximately $1.5 million, combined with familiar East Coast geography, Temasek school proximity, and TEL connectivity, makes this a natural upgrade target. Proceeds from an en-bloc or standard HDB resale in Bedok or Tampines typically cover the down payment comfortably."
},
{
"persona": "CBD Professional Renter",
"fit_color": "green",
"reason": "White-collar professionals valuing a coastal lifestyle without sacrificing CBD commute time benefit directly from the Bayshore MRT (TE29) connection. Rental demand in this corridor is supported by multinational tenants who prize the East Coast Park catchment, and projected yields of 3.5–4% support investment viability for landlords using a structured financing approach."
},
{
"persona": "Long-Horizon Investor (10+ years)",
"fit_color": "green",
"reason": "The Long Island government reclamation programme, the Bayshore precinct build-out, and the TEL's progressive ridership ramp collectively underpin a multi-decade capital appreciation thesis. Buyers able to hold through precinct maturation cycles are well-positioned to benefit as neighbourhood amenities compound in value."
},
{
"persona": "Second-Property Buyer (Singapore Citizen)",
"fit_color": "yellow",
"reason": "Viable, but ABSD at 20% on the purchase price creates a substantial upfront hurdle. Decoupling strategies — reviewed via the <a href=\"/calculator/decoupling\">decoupling calculator</a> — may reduce ABSD exposure where applicable. Rental income must be stress-tested against the higher all-in acquisition cost using a <a href=\"/calculator/cash-flow\">cash flow analysis</a>."
},
{
"persona": "Family (Primary School Priority)",
"fit_color": "green",
"reason": "Temasek Primary's reported 1 km proximity from Vela Bay is a material draw for Phase 2 and Phase 1 priority balloting under Singapore's school registration framework. Combined with East Coast Park recreational access and the precinct's car-lite design, Vela Bay addresses family lifestyle priorities comprehensively."
},
{
"persona": "Foreign Buyer / PR (ABSD-affected)",
"fit_color": "red",
"reason": "At $2,886 psf average, ABSD at 60% (foreigner) or 5% (first-purchase PR) adds very significant quantum. Foreign buyers should model total costs rigorously via the <a href=\"/calculator/total-cost\">total cost calculator</a>; on a $1.8 million two-bedder, foreigner ABSD alone exceeds $1 million. This profile is not economically irrational but requires substantial capital depth."
}
]
Vela Bay is a coherent proposition: the right product type, in a genuinely transforming location, at pricing that the market has already validated through a 72 per cent sell-through on launch weekend. The convergence of a brand-new precinct, a brand-new MRT line, a government-backed coastal programme of generational scale, and an established East Coast lifestyle infrastructure makes for an unusually well-supported investment thesis by Singapore OCR standards.
The honest caveat is entry cost. Buyers paying above $2,800 per square foot in the OCR are betting on above-average capital appreciation and sustained rental demand — both of which are plausible given the structural drivers, but neither of which is guaranteed. Lease decay, precinct construction disruption, and ABSD exposure for second-property or foreign buyers require quantitative modelling before commitment. Use the affordability calculator and the refinancing planner to build a conservative 10-year cashflow model, not merely a best-case projection.
For buyers to whom the numbers work, Vela Bay offers something rare in Singapore's 2026 new-launch landscape: genuine first-mover access to a precinct that is actively being built rather than one whose appreciation potential is already fully priced. The coastal future is being constructed on this stretch of shoreline — and Vela Bay is its first residential address.
FAQ
What is the average price for VELA BAY?
What is the rental yield for VELA BAY?
Is VELA BAY freehold or leasehold?
Who is the developer of Vela Bay and what is their track record?
Vela Bay is developed by Sing-Haiyi Garnet Pte. Ltd., a joint-venture entity between SingHaiyi Group and Haiyi Holdings. SingHaiyi Group is a Singapore-listed property developer with completed residential and commercial projects in Singapore and the United States. Among their locally known developments, the group has delivered projects across various market segments. The Bayshore Road GLS site was secured with a winning bid of $658.89 million ($1,388 psf ppr), indicating strong developer conviction in the East Coast precinct's long-term value proposition.
Is Vela Bay walking distance to an MRT station?
Yes. Bayshore MRT Station (TE29) on the Thomson-East Coast Line is approximately a two-minute walk from Vela Bay, making this one of the most directly transit-integrated new launches in District 16. The TEL provides direct, interchange-free access to Gardens by the Bay (TE22), Marina Bay (TE20), and further north to Orchard Road (TE14), substantially improving CBD commute times relative to older East Coast properties that relied on bus or Bedok/Tanah Merah MRT on the East-West Line.
What is the Long Island project and how does it affect Vela Bay?
Long Island is Singapore's government-planned 800-hectare coastal reclamation project off the East Coast, designed to provide long-term flood protection for Singapore's southeastern shore while creating approximately 20 kilometres of new waterfront parks. Preparatory works were formally announced by URA in March 2026. For Vela Bay residents, the project means that the coastal character and green buffer of the East Coast Park corridor are being institutionally protected and extended by the state — a significant structural positive for long-term property values in the Bayshore precinct. However, marine construction activity during build phases may cause temporary amenity disruption over the coming years.
How does Vela Bay's pricing compare to other District 16 condominiums?
At an average of $2,886 psf on the launch weekend, Vela Bay priced at a premium to the prevailing resale market for established District 16 condominiums, which typically transact in a lower psf range reflecting age, lease tenure, and the absence of TEL integration. The premium reflects the new-development cost structure (including the $1,388 psf ppr land cost), the Bayshore MRT adjacency, and the precinct's master-plan positioning. Buyers comparing Vela Bay to secondary-market alternatives in Bedok or Siglap should factor in the age of existing developments, remaining lease tenure, and the material difference in TEL accessibility when assessing relative value.
Are there good schools within 1 km of Vela Bay?
Based on publicly available information at launch, Temasek Primary School is reported to fall within a 1-kilometre radius of Vela Bay — a key consideration for Singapore Citizens prioritising Phase 2C ballot priority in the Primary 1 registration exercise. Temasek Secondary School is also in the broader vicinity. Parents should independently verify proximity using the Ministry of Education's official school registration portal, as boundaries and catchment distances are subject to change. The Bayshore precinct masterplan also includes provision for a new school as the neighbourhood matures, which would further enhance the family-living proposition for future residents.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 371 transactions analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
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