Waterbank at Dakota occupies one of the most enviable addresses in Singapore's Rest of Central Region (RCR) — a 616-unit, 99-year leasehold development sitting directly above Dakota MRT station on the Circle Line. Completed in 2012 and developed by UOL Group's Dakota subsidiary, the project transformed a prime Kallang riverfront parcel into a glass-and-steel landmark whose Mondrian-inspired facade has become synonymous with Dakota Crescent. For owner-occupiers and investors alike, the combination of direct MRT access, Kallang Park Connector frontage, and UOL's blue-chip brand has kept Waterbank firmly in demand more than a decade after its Top. Recent caveats confirm prices between S$1,885 and S$2,345 per square foot, with a 2-year appreciation of roughly 16.4% — well ahead of the District 14 average of 10.1%. This editorial unpacks what drives that premium, what risks buyers must weigh, and which buyer profiles genuinely stand to benefit.
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 14 stretches from Geylang through Paya Lebar to Kallang and has historically traded at a discount to Core Central Region (CCR) addresses, offering RCR buyers outsized location quality at more accessible price points. Waterbank at Dakota sits at the western edge of D14, where the Kallang River meets the Geylang Park Connector — a linear green spine that links Marina Bay to Bishan and is one of the most heavily used leisure corridors in Singapore. The Circle Line (CCL) station beneath the development is a critical differentiator: Dakota MRT (CC8) is two stops from Dhoby Ghaut (interchange with North-East and North-South Lines) and one stop from Paya Lebar (interchange with the East-West Line), giving residents a sub-20-minute CBD commute without changing lines. That multi-interchange access in two directions is rare at this price quantum in RCR.
The surrounding urban canvas is equally compelling. Kallang Riverside, a long-running URA Master Plan precinct, envisions the corridor from Sports Hub to Lavender as a waterfront lifestyle and mixed-use district. Progressive land parcels along Kallang Road have already attracted hospitality and commercial interest, and the 35-hectare Kallang Alive masterplan — anchored by the revamped National Stadium precinct — is within a 10-minute cycle. To the east, the rejuvenation of Old Airport Road food centre and City Plaza at Geylang puts everyday dining and retail within walking distance. Closer still, a cluster of eateries, cafés and provision shops along Guillemard Road serves daily needs. The net effect is that Waterbank residents enjoy an inner-city lifestyle texture — river, park, MRT, food, sport — that many fringe RCR projects can only approximate. You can explore how District 14 stacks up on metrics using our District 14 analytics page or run a quick scenario through the affordability calculator to anchor your budget before diving deeper.
We track 153 sales and 948 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the WATERBANK AT DAKOTA dashboard.
- Average sale price: $1,705,205 across 153 transactions
- Estimated gross rental yield: 3.2%
- District 14 PSF ranking: Premium tier (top 9%)
- 99 yrs lease commencing from 2009 · RCR · D14 · 616 units
About WATERBANK AT DAKOTA
WATERBANK AT DAKOTA is a 99 yrs lease commencing from 2009 condominium, located at DAKOTA CRESCENT in District 14 (Geylang, Eunos) (Rest of Central Region), developed by UOL DEVELOPMENT (DAKOTA) PTE LTD, comprising 616 residential units, completed in 2012.
With approximately 82 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 WATERBANK AT DAKOTA:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 27 | $1,725 psf | $835,691 |
| 1 BR | 28 | $1,859 psf | $1,158,821 |
| 2 BR | 20 | $1,755 psf | $1,530,834 |
| 3 BR | 56 | $1,827 psf | $2,171,804 |
| 4 BR | 21 | $1,579 psf | $2,346,095 |
| 5+ BR | 1 | $1,553 psf | $4,380,000 |
Sales Market Overview
WATERBANK AT DAKOTA has recorded 153 sale transactions with an average transaction price of $1,705,205, ranging from $760,000 to $4,380,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 41 | $1,619 psf | $1,497,995 | — |
| 2022 | 43 | $1,687 psf | $1,617,395 | ↑ 4.2% |
| 2023 | 27 | $1,820 psf | $1,801,000 | ↑ 7.9% |
| 2024 | 26 | $1,931 psf | $1,974,000 | ↑ 6.1% |
| 2025 | 15 | $2,017 psf | $1,813,303 | ↑ 4.4% |
| 2026 | 1 | $2,170 psf | $2,780,000 | ↑ 7.6% |
WATERBANK AT DAKOTA ranks in the top 9% of condos in District 14 by average PSF.
Compared to the RCR average of $2,047 psf, WATERBANK AT DAKOTA trades 13.5% below the segment benchmark.
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Rental Market Overview
WATERBANK AT DAKOTA has recorded 948 rental transactions with monthly rents averaging $4,603/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 381 | $3,335/mo | $2,200/mo | $6,000/mo |
| 2 BR | 143 | $4,260/mo | $3,100/mo | $6,000/mo |
| 3 BR | 387 | $5,673/mo | $2,200/mo | $7,500/mo |
| 4 BR | 33 | $7,514/mo | $5,800/mo | $8,900/mo |
| 5+ BR | 4 | $10,063/mo | $8,300/mo | $11,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 201 | $3,720/mo |
| 2022 | 197 | $4,331/mo |
| 2023 | 166 | $5,198/mo |
| 2024 | 161 | $4,833/mo |
| 2025 | 182 | $5,070/mo |
| 2026 | 41 | $4,849/mo |
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Investment Analysis
Based on average rents and sale prices, WATERBANK AT DAKOTA delivers an estimated gross rental yield of 3.2%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 14
Side-by-side comparison against the most actively traded condos in District 14 (Geylang, Eunos):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| PARC ESTA | 99 yrs lease commencing from 2018 | 1399 | $2,184 psf | 477 |
| SIMS URBAN OASIS | 99 yrs lease commencing from 2014 | 1024 | $1,762 psf | 365 |
| PENROSE | 99 yrs lease commencing from 2019 | 566 | $1,928 psf | 352 |
| EUHABITAT | 99 yrs lease commencing from 2010 | 697 | $1,326 psf | 233 |
| THE ANTARES | 99 yrs lease commencing from 2018 | 265 | $1,833 psf | 227 |
Location Map
Map shows WATERBANK AT DAKOTA (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- WATERBANK AT DAKOTA
- Dakota MRT
- Tanjong Katong MRT
- Mountbatten MRT
- Katong Park MRT
- Aljunied MRT
- Geylang Methodist School (Secondary)
- One World International School (Mountbatten)
- Geylang Methodist School (Primary)
Nearby MRT Stations
WATERBANK AT DAKOTA is 210m from Dakota MRT (Circle Line), with 7 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Dakota | CC8 | Circle Line | 210m |
| Tanjong Katong | TE25 | Thomson-East Coast Line | 650m |
| Mountbatten | CC7 | Circle Line | 660m |
| Katong Park | TE24 | Thomson-East Coast Line | 1.1 km |
| Aljunied | EW9 | East-West Line | 1.3 km |
| Paya Lebar | EW8 | East-West Line | 1.3 km |
| Paya Lebar | CC9 | Circle Line | 1.3 km |
Nearby Schools
There are 13 schools within 2 km of WATERBANK AT DAKOTA, including 6 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Geylang Methodist School (Secondary) | Secondary | 670m |
| One World International School (Mountbatten) | International | 690m |
| Geylang Methodist School (Primary) | Primary | 720m |
| Haig Girls' School | Primary | 900m |
| Kong Hwa School | Primary | 960m |
| Tanjong Katong Primary School | Primary | 970m |
| Tao Nan School | Primary | 1.1 km |
| Broadrick Secondary School | Secondary | 1.3 km |
| EtonHouse International School (Broadrick) | International | 1.3 km |
| Tanjong Katong Girls' School | Secondary | 1.4 km |
| CHIJ (Katong) Primary | Primary | 1.4 km |
| Canadian International School (Tanjong Katong) | International | 1.4 km |
The headline strength of Waterbank at Dakota is walkability to the MRT that most condominiums can only claim approximately — here it is literal. The main lobby is connected to Dakota MRT (CC8) via a covered linkway, meaning residents can reach the platform without stepping outdoors. This zero-weather-exposure transit access is a feature that commands a persistent structural premium and is the primary reason Waterbank's per-square-foot pricing has held firm even as newer D14 launches compete for attention. Families with school-going children benefit from the CHIJ Katong Primary and Tanjong Katong Primary school belt a short bus or cab ride away, while working adults on the Circle Line can be at one-north (Biopolis/Mediapolis tech cluster) in roughly six stops.
UOL Group's development pedigree adds another layer of confidence. The developer is a Singapore-listed blue chip with a decades-long track record in residential quality — from The Clement Canopy to Watertown — and Waterbank bears that hallmark in its build quality and landscape design. The four 20-storey and three 19-storey residential towers are arranged to maximise river and greenery views, and the facility deck includes a 50-metre lap pool, an infinity-edged pool overlooking the park connector, a sky gymnasium, and cabana units at pool level with private parking lots — a rare typology that appeals to owner-occupiers seeking resort-style living in the city.
Price appreciation data supports the investment case: a 16.4% gain over two years versus a district average of 10.1% indicates that Waterbank's specific locational advantages are being recognised and repriced by the market. The highest caveat on record reached S$2,345 psf in April 2025, reflecting renewed appetite for MRT-integrated, riverfront stock in the RCR corridor. For investors, the gross rental yield sits at approximately 3%, slightly below the District 14 average of 3.83% — a trade-off that is typical of prestige MRT-adjacent assets where capital appreciation tends to outpace the yield curve. Owners can model different hold-period scenarios using the ROI calculator to stress-test both capital gain and rental income assumptions over the remaining lease tenure.
No investment is without headwinds, and Waterbank at Dakota carries several that prospective buyers must weigh honestly. The most structural concern is lease decay: launched in 2009 with a 99-year tenure, the project will reach the 30-year mark — when CPF usage restrictions begin to tighten and bank financing starts to step down — around 2039. Buyers today are acquiring roughly 83 years of remaining lease, which is comfortably above the critical CPF and financing thresholds now, but the clock is running. Buyers intending to hold for 15 or more years, particularly those planning to use CPF for a future disposal, should model the trajectory carefully using the lease-decay calculator. Older buyers approaching 55 should be especially attentive to the CPF Withdrawal Limit rules that apply when remaining lease drops below 30 years at the projected point of sale.
The gross rental yield of around 3% is below both the district average and the typical threshold at which yield-focused investors find the numbers compelling relative to mortgage servicing costs. In a higher-interest-rate environment, rental income alone is unlikely to cover total holding costs, meaning investors must be bullish on capital appreciation to justify entry. The D14 micro-market also faces supply competition: Geylang and Aljunied corridors have seen a pipeline of new launches that could exert pricing pressure on resale stock, and the Paya Lebar transformation (Paya Lebar Airbase relocation post-2030) will introduce significant new private residential supply to the broader east-central precinct. Finally, Geylang's social reputation — despite its cultural richness — remains a perception barrier for certain buyer segments, particularly expatriate families who may weigh this against alternatives in Marine Parade or Bishan.
[
{
"persona": "CBD Professional on the Circle Line",
"fit_color": "green",
"reason": "Direct, covered linkway to Dakota MRT (CC8) delivers a sub-20-minute, no-transfer commute to Dhoby Ghaut and one stop to Paya Lebar interchange. For professionals who value time over tenure anxiety, Waterbank is among the most transit-optimised RCR addresses available at this price point."
},
{
"persona": "Upgrader from HDB — First Private Home",
"fit_color": "green",
"reason": "RCR pricing, a reputable UOL address, and a well-maintained estate offer a credible first step into private property. Buyers can use a combination of CPF OA and a standard bank loan; the remaining 83-year lease keeps all financing options fully open. Run the <a href=\"/calculator/stamp-duty\">stamp duty calculator</a> early to account for ABSD if retaining the HDB flat."
},
{
"persona": "Long-Term Investor Targeting Capital Appreciation",
"fit_color": "green",
"reason": "The 16.4% two-year price gain — 6 percentage points above the D14 average — reflects Waterbank's structural MRT-and-riverfront premium. Investors with a 7-to-12-year horizon who believe in the Kallang Riverside masterplan and Circle Line catchment can use the <a href=\"/calculator/roi\">ROI calculator</a> to model realistic exit scenarios."
},
{
"persona": "Yield-First Buy-to-Let Investor",
"fit_color": "orange",
"reason": "At approximately 3% gross yield — below the 3.83% district average — Waterbank's numbers require careful structuring. In a sub-4% mortgage environment the spread is acceptable; above that, monthly cashflow turns negative. Model total cost of ownership with the <a href=\"/calculator/total-cost\">total cost calculator</a> and <a href=\"/calculator/cash-flow\">cash-flow calculator</a> before committing."
},
{
"persona": "Expatriate Family Seeking Short-to-Medium Term Rental",
"fit_color": "orange",
"reason": "Waterbank appeals to expat tenants who commute via the Circle Line and value the park connector for weekend recreation. However, families with young children may be put off by Geylang's surroundings despite the development's internal quality. Proximity to international schools in Katong and East Coast helps offset this concern for some profiles."
},
{
"persona": "Buyer Focused on En-Bloc Potential",
"fit_color": "red",
"reason": "At just 16 years old with 83 years of lease remaining, Waterbank is far too young for any realistic collective sale timeline. The high land-to-unit density and UOL's ownership stake in the management structure further reduce near-term en-bloc prospects. Buyers should not price in any redevelopment uplift for the foreseeable future."
}
]
Waterbank at Dakota earns its premium honestly. The direct, covered MRT linkway to Dakota CC8 is not marketing language — it is a genuine lifestyle and commute advantage that only a handful of Singapore condominiums can claim, and it underpins a structural price floor that has proven resilient across multiple market cycles. UOL's build quality, the Kallang Park Connector frontage, and the Kallang Riverside macro-narrative collectively argue that the location will only become more desirable as the urban masterplan matures.
The caveats are real but manageable: lease decay requires active monitoring for buyers holding beyond 2040, and the 3% gross yield demands that investors have a capital-appreciation thesis rather than relying on rental income alone. For CBD-centric professionals, genuine upgraders, and medium-horizon investors with conviction on the Circle Line corridor, Waterbank at Dakota remains one of the most coherent value propositions in RCR. Use the mortgage calculator, affordability calculator, and comparison tool to benchmark it against peer projects before making a final decision.
FAQ
What is the average price for WATERBANK AT DAKOTA?
What is the rental yield for WATERBANK AT DAKOTA?
Is WATERBANK AT DAKOTA freehold or leasehold?
Is Waterbank at Dakota really directly connected to Dakota MRT?
Yes. Waterbank at Dakota is one of very few Singapore condominiums with a covered pedestrian linkway that connects the main lobby directly to Dakota MRT station (CC8, Circle Line). Residents can reach the platform without exposure to rain or sun — a practical advantage that contributes to the project's persistent resale premium over comparably priced D14 developments without this feature.
What are the key risks of buying into Waterbank at Dakota in 2026?
Three risks merit careful consideration. First, lease decay: with approximately 83 years remaining, buyers holding for 15-plus years must factor in narrowing CPF and financing options as the lease approaches the 30-year threshold. Second, yield compression: at 3% gross, rental income alone is unlikely to cover full ownership costs in a higher interest-rate environment — the investment thesis depends heavily on continued capital appreciation. Third, supply competition: the broader east-central corridor, including the eventual Paya Lebar Airbase redevelopment post-2030, will introduce significant new private supply that could moderate resale price growth in D14 over the medium term.
How does Waterbank at Dakota compare to newer D14 launches?
Newer D14 launches such as those along Geylang or Paya Lebar Road typically offer fresher leases and modern unit layouts, but very few can match Waterbank's direct MRT integration or Kallang riverfront setting. Waterbank also benefits from an established management council and a mature estate — the 'move-in ready' factor that some buyers and tenants prefer over newer projects still bedding down their facilities. For a side-by-side comparison on metrics like PSF, tenure remaining, and district ranking, use the property comparison tool.
Is the en-bloc potential of Waterbank at Dakota worth factoring into a purchase decision?
No — at least not within any realistic investment horizon. Waterbank at Dakota is only 16 years old, with 83 years of lease remaining and a high plot ratio already fully utilised across seven residential towers. Collective sale exercises typically gain traction only when a development is 30-plus years old with lease decay creating a self-selection incentive among owners. Buyers who factor en-bloc upside into their valuation at Waterbank are pricing in a scenario that is, at best, two decades away and far from guaranteed. The investment case should rest entirely on organic capital appreciation and rental income.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 153 transactions analysed
- Rental data: 948 lease records 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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