Waterfront Waves occupies one of the most visually distinctive addresses in Singapore’s Outside Central Region: a 99-year leasehold estate wrapped around the south-eastern edge of Bedok Reservoir, where 842 homes across eight 15-storey towers enjoy unobstructed water views that are essentially impossible to replicate in newer projects. Developed jointly by Frasers Centrepoint and Far East Organization — two names that carry genuine weight in the Singapore residential market — and completed in 2011, the project sits at 760–768 Bedok Reservoir Road in District 16. With a lease commencing in 2007, buyers in 2026 are acquiring approximately 80 years of remaining tenure, placing the development firmly outside the 60-year danger zone that triggers bank-financing restrictions and CPF-usage limits. The result is a project that still commands strong financing support, still appeals to a wide buyer pool, and still trades at a meaningful discount to the newer stock emerging from land tenders in the same corridor. For buyers who value reservoir-front living, established infrastructure, and OCR value in an increasingly supply-constrained district, Waterfront Waves deserves a thorough look before it transitions into the pricing territory where lease-decay becomes a headline concern.
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 spans the eastern coastal corridor from Bedok South through Upper East Coast, Bayshore, and Chai Chee, ending at the fringes of Tampines. Within the URA’s Outside Central Region classification, it has historically traded at a discount to the Rest of Central Region while delivering consistent capital growth driven by limited land supply, improving connectivity, and the halo effect of the East Coast lifestyle brand. From 2014 to 2025, median PSF for condominiums in D16 rose from roughly S$1,004 to S$1,540 — a compound annual growth rate of approximately 3.3 per cent, outperforming several OCR districts. The upcoming Bedok Rise GLS site, awarded at S$1,330 psf per plot ratio in 2025, signals developer confidence that new launches here will be priced at S$2,600 to S$2,700 psf by the time of launch, which sets a price ceiling that should put upward pressure on quality resale stock like Waterfront Waves well into the late 2020s.
Waterfront Waves itself sits between two Downtown Line stations: Bedok Reservoir (DT30) and Tampines West (DT31), both reachable by a short walk or a five-minute feeder bus ride. The Downtown Line connects riders to Bugis, City Hall interchange, and Buona Vista without any bus transfer, turning what was once a “fringe east” address into a functionally connected urban neighbourhood. Bedok Mall, the well-curated suburban retail anchor at Bedok MRT, is roughly 1.5 km away. Bedok Reservoir Park itself — a 88-hectare freshwater reservoir used for kayaking, wakeboarding, and the popular Bedok Reservoir Park Connector Network — forms the immediate backdrop of the development, providing the kind of open green space that planners are unable to recreate inside denser future housing envelopes. The URA’s Master Plan continues to earmark the reservoir edge as park and open space, meaning the view corridors residents enjoy today carry meaningful permanence.
We track 83 sales and 202 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the WATERFRONT WAVES dashboard.
- Average sale price: $1,831,004 across 83 transactions
- Estimated gross rental yield: 3.0%
- District 16 PSF ranking: Mid-range (top 55%)
- 99 yrs lease commencing from 2007 · OCR · D16 · 842 units
About WATERFRONT WAVES
WATERFRONT WAVES is a 99 yrs lease commencing from 2007 condominium, located at BEDOK RESERVOIR ROAD in District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive) (Outside Central Region), developed by FRASERS CENTREPOINT LIMITED & FAR EAST ORGANIZATION, comprising 842 residential units, completed in 2011.
With approximately 80 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 WATERFRONT WAVES:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 59 | $1,377 psf | $1,686,202 |
| 4 BR | 23 | $1,400 psf | $2,095,976 |
| 5+ BR | 1 | $1,441 psf | $4,280,000 |
Sales Market Overview
WATERFRONT WAVES has recorded 83 sale transactions with an average transaction price of $1,831,004, ranging from $970,000 to $4,280,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 22 | $1,157 psf | $1,491,023 | — |
| 2022 | 18 | $1,260 psf | $1,585,419 | ↑ 8.9% |
| 2023 | 11 | $1,445 psf | $1,887,163 | ↑ 14.7% |
| 2024 | 15 | $1,532 psf | $2,007,227 | ↑ 6.0% |
| 2025 | 15 | $1,630 psf | $2,361,073 | ↑ 6.4% |
| 2026 | 2 | $1,691 psf | $2,175,000 | ↑ 3.7% |
WATERFRONT WAVES ranks in the top 55% of condos in District 16 by average PSF.
Compared to the OCR average of $1,550 psf, WATERFRONT WAVES trades 10.7% below the segment benchmark.
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Rental Market Overview
WATERFRONT WAVES has recorded 202 rental transactions with monthly rents averaging $4,619/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 2 BR | 46 | $3,434/mo | $2,500/mo | $4,500/mo |
| 3 BR | 114 | $4,672/mo | $2,540/mo | $6,000/mo |
| 4 BR | 42 | $5,773/mo | $3,900/mo | $9,000/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 49 | $3,524/mo |
| 2022 | 43 | $4,462/mo |
| 2023 | 35 | $5,065/mo |
| 2024 | 36 | $5,285/mo |
| 2025 | 31 | $5,206/mo |
| 2026 | 8 | $4,938/mo |
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Investment Analysis
Based on average rents and sale prices, WATERFRONT WAVES delivers an estimated gross rental yield of 3.0%. This is above the Singapore-wide benchmark of approximately 3%.
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 |
| VELA BAY | 99 years leasehold | — | $2,869 psf | 371 |
| 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 |
Location Map
Map shows WATERFRONT WAVES (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- WATERFRONT WAVES
- Bedok Reservoir MRT
- Tampines West MRT
- Bedok North MRT
- Temasek Polytechnic
- Institute of Technical Education (College East)
- Tampines Meridian Junior College
Nearby MRT Stations
WATERFRONT WAVES is 290m from Bedok Reservoir MRT (Downtown Line), with 3 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Bedok Reservoir | DT30 | Downtown Line | 290m |
| Tampines West | DT31 | Downtown Line | 1.3 km |
| Bedok North | DT29 | Downtown Line | 1.4 km |
Nearby Schools
There are 10 schools within 2 km of WATERFRONT WAVES, including 2 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Temasek Polytechnic | Tertiary | 840m |
| Institute of Technical Education (College East) | Tertiary | 880m |
| Tampines Meridian Junior College | Jc | 1.3 km |
| Casuarina Primary School | Primary | 1.5 km |
| Temasek Primary School | Primary | 1.6 km |
| Temasek Junior College | Jc | 1.7 km |
| St. Hilda's Primary School | Primary | 1.8 km |
| Bedok North Secondary School | Secondary | 1.8 km |
| Tampines Primary School | Primary | 1.9 km |
| Tampines Secondary School | Secondary | 2.0 km |
The most durable strength of Waterfront Waves is its setting. Reservoir-fronting units — primarily found in the higher-floor stacks of Blocks 760 and 762 — command panoramic views that are legally protected from obstruction by the park zoning on the opposite bank. This is a scarcity factor that only appreciates over time as the rest of Singapore urbanises. The resort-style facility deck is commensurately generous: lap pool, splash pool, spa seats, hydro-massage shower, aqua gym, rock climbing wall, two tennis courts, steam rooms, eco-pond, lounge decks, and a full clubhouse with a multi-purpose hall. For a project of its vintage, the facilities package remains competitive against launches priced 40 to 50 per cent higher.
The development’s fundamentals in the transaction data are equally reassuring. With approximately 83 caveats lodged in the resale market and recent PSF transactions ranging from S$1,562 to S$1,782 in the 12 months ending March 2026, the market is pricing the remaining lease and reservoir premium into a band that still makes sense relative to replacement cost. The joint-developer pedigree of Frasers Centrepoint and Far East Organization translates into above-average build quality and estate management discipline that is visible in the maintained common areas and consistent service-and-conservancy track record. A lease commencing in 2007 and running 99 years gives buyers roughly 80 years of tenure in 2026 — sufficient for CPF ordinary-account usage up to the property value, and sufficient for most mainstream bank mortgage products at standard loan-to-value ratios. This keeps the addressable buyer pool wide, which matters for exit liquidity. Use the mortgage calculator to stress-test your monthly commitment under different interest-rate scenarios, and run your stamp-duty liability through the stamp duty calculator before finalising any offer.
Lease decay is the central risk narrative for any 99-year leasehold project commenced in 2007. At 80 years remaining in 2026, Waterfront Waves sits comfortably above the thresholds that restrict CPF usage and bank financing, but buyers who intend to hold for 20 years or more should model their exit in a world where remaining tenure is 60 years or below. CPF Board rules progressively pro-rate the CPF-withdrawable amount as remaining lease at point of purchase falls below 60 years, and at 30 years remaining, usage is effectively blocked for most buyers. Banks likewise apply haircuts to LTV as lease shortens. The practical implication is a narrowing buyer pool at the next resale, which can compress the price premium that reservoir-facing units currently command. Use the lease decay calculator to model how the CPF withdrawal cap evolves across different holding periods.
A secondary risk is the limited upside from en-bloc collective sale. While Waterfront Waves has the scale (842 units) that makes collective-sale mathematics more straightforward, the 2007 lease commencement date means any developer acquiring the site would inherit a lease already 20 years consumed at transaction close, reducing the land’s redevelopment attractiveness relative to sites with fresher or freehold titles. The broader OCR new-launch pipeline — including the Bedok Rise GLS and potential Bayshore plots — will continue to draw price-sensitive buyers who might otherwise consider Waterfront Waves resale, applying a soft ceiling on how far resale PSF can run ahead of new-launch norms in the sub-district. Finally, while the Downtown Line stations are within reasonable distance, neither is within a five-minute walk from all blocks, making the development car-dependent for some household compositions, particularly families with school-going children relying on public transport for daily commutes.
[
{
"persona": "HDB upgrader seeking OCR lifestyle upgrade",
"fit_color": "green",
"reason": "The S$1,562–S$1,782 psf resale range makes Waterfront Waves one of the more accessible reservoir-fronting addresses in D16, well within the cash-over-valuation budgets of upgraders cashing out five-room or executive flats in the east. The 80-year remaining lease fully supports CPF and bank financing, and the facility deck removes any compromise on resort-style living."
},
{
"persona": "Long-term investor targeting rental yield",
"fit_color": "green",
"reason": "District 16 benefits from stable demand from multinational families priced out of the CCR, expatriate tenants working along the Changi Business Park and Tampines Regional Centre corridors, and young professionals valuing east-side connectivity. Reservoir-facing units command a rent premium, and the gross yield on mid-floor two-bedders is typically competitive relative to newer OCR launches at higher PSF entry costs."
},
{
"persona": "Buyer prioritising lease longevity for a 25-year hold",
"fit_color": "amber",
"reason": "With roughly 80 years remaining, Waterfront Waves is viable now but will sit in the 55-year band by the time a buyer who purchases in 2026 seeks to sell in 2051. That remaining tenure will limit the pool of CPF-eligible buyers at exit. Buyers with a 25-year horizon should model exit liquidity carefully using the <a href=\"/calculator/lease-decay\">lease decay calculator</a> and consider whether the reservoir premium sufficiently compensates for the lease trajectory."
},
{
"persona": "Retiree or empty-nester seeking a peaceful, low-density address",
"fit_color": "green",
"reason": "The Bedok Reservoir Park perimeter offers exceptional daily walkability — jogging track, kayaking, park-connector access — within metres of the gate. The eight-block low-rise-adjacent layout (15 storeys) avoids the canyon-like density of more recent high-rise mega-projects. For buyers who have paid off their home and are right-sizing into a leasehold apartment, the entry quantum is reasonable and the lifestyle dividend is immediate."
},
{
"persona": "First-time private-property buyer on a tight budget",
"fit_color": "amber",
"reason": "Entry-level one- and two-bedroom units can fit within a first-time buyer’s budget, but the lease age demands careful financial planning. Use the <a href=\"/calculator/affordability\">affordability calculator</a> and <a href=\"/calculator/total-cost\">total cost calculator</a> to ensure the all-in acquisition cost (including BSD, legal fees, and renovation) sits comfortably within your TDSR limits before committing."
},
{
"persona": "Investor comparing D16 with other eastern OCR districts",
"fit_color": "green",
"reason": "A side-by-side district comparison on the <a href=\"/district/16\">District 16 analytics page</a> shows Waterfront Waves trading at a discount to newer D16 launches while delivering equivalent or superior rental demand metrics. For investors who have run the <a href=\"/calculator/roi\">ROI calculator</a> across multiple options, the project’s resale liquidity — supported by 842 units and two nearby MRT stations — is a meaningful risk mitigant."
}
]
Waterfront Waves is a fundamentally sound resale proposition for buyers who enter with clear eyes on the lease narrative. The reservoir-front setting is a non-reproducible asset, the joint-developer pedigree has held up well after 15 years, and the transaction data confirms that the market continues to price the water-view premium without excessive speculative loading. With 80 years of tenure remaining and a resale PSF range (S$1,562–S$1,782) that sits meaningfully below the cost of equivalent-quality new launches in the same submarket, the value equation is compelling for upgraders, yield investors, and lifestyle buyers who will actually inhabit the estate and use the park daily. The risks are real — lease decay, limited en-bloc optionality, car-dependency from some blocks — but they are quantifiable and manageable for buyers with a holding horizon of 10 to 15 years. For holds beyond 20 years, the lease math demands stress-testing. Benchmark your numbers: compare the district against its peers on the District 16 page, run a full mortgage simulation on the mortgage calculator, check your stamp duty exposure on the stamp duty calculator, and model the lease trajectory on the lease decay calculator before proceeding.
FAQ
What is the average price for WATERFRONT WAVES?
What is the rental yield for WATERFRONT WAVES?
Is WATERFRONT WAVES freehold or leasehold?
How many years are left on the Waterfront Waves lease in 2026?
The 99-year lease commenced in 2007, which means approximately 80 years remain as of 2026. This is above the 60-year threshold below which CPF withdrawal for the purchase price begins to be pro-rated, and well above the 30-year floor below which CPF usage is effectively blocked. Standard bank mortgage financing at normal LTV ratios remains fully available at this tenure level, keeping the addressable buyer pool wide. Buyers planning a long hold should model the CPF and financing implications at their intended exit date using the lease decay calculator.
What are current resale prices per square foot at Waterfront Waves?
Transaction data for the 12 months ending March 2026 shows resale PSF ranging from approximately S$1,562 to S$1,782, with the top transaction of S$1,782 psf recorded in March 2026 for a larger 1,572-square-foot unit. The average across all unit types transacted sits around S$1,671 psf. These figures represent a notable discount to new launches in the D16 pipeline, which are expected to debut at S$2,600 to S$2,700 psf, making the resale value proposition structurally attractive for buyers who do not require a brand-new unit.
Which MRT stations serve Waterfront Waves, and how walkable is the estate?
Waterfront Waves is served by two Downtown Line stations: Bedok Reservoir (DT30) and Tampines West (DT31). Both are reachable within a short commute — the walk from the nearest block to Bedok Reservoir MRT is under 10 minutes for most residents, and feeder bus services reduce this further. The Downtown Line provides direct access to Bugis, Bayfront, and Buona Vista, making the CBD effectively a 30-minute door-to-door trip. The estate’s direct adjacency to Bedok Reservoir Park and its park-connector loop adds a second dimension of walkability for leisure and exercise.
How does Waterfront Waves compare to other condos in District 16?
Within District 16, Waterfront Waves occupies a distinctive niche as one of the few developments with direct reservoir frontage. The Baycourt, a comparable resale option in the district, recently transacted at a median of S$1,568 psf — broadly in line with the lower end of Waterfront Waves’ range, but without the reservoir setting. Newer projects like Casafina were launching at S$1,800 to S$2,500 psf in 2025, reflecting the premium buyers pay for a shorter lease age. For buyers weighing entry cost against remaining tenure and lifestyle factors, Waterfront Waves often represents the best risk-adjusted value in D16 resale. Review the full sub-district comparison on the District 16 analytics page.
What unit types and sizes are available at Waterfront Waves?
Waterfront Waves offers a range of unit types across its 842 units: one-bedroom apartments at around 517 to 657 square feet, two-bedroom units at approximately 807 to 1,130 square feet, three-bedroom units typically ranging from 1,152 to 1,572 square feet, and a small number of penthouses on the uppermost floors. The eight-block layout across 15 storeys means high-floor units in the reservoir-facing stacks are consistently the most sought-after and command the steepest PSF premiums. The clubhouse, multi-purpose hall, and landscaped grounds are shared across all residents, with no sub-precinct restrictions on facility access.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 83 transactions analysed
- Rental data: 202 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 WATERFRONT WAVES
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.