Avenue South Residence

Overview & Key Facts

Avenue South Residence is a 1,074-unit twin-tower mega-development at Silat Avenue in District 3, completed in 2022–2023 on a 99-year leasehold commencing from 2018. With approximately 91 years remaining on the lease, the development is effectively new in tenure terms and brings an entirely different proposition to the Bukit Merah–Alexandra corridor: two 56-storey towers rising 192 metres above sea level — among the tallest private residential towers in Singapore — delivering panoramic views across the Greater Southern Waterfront, the city skyline, and the Straits of Singapore.

Developed by a joint venture of UOL Group, United Industrial Corporation (UIC), and Kheng Leong Company, Avenue South Residence is the anchor residential project for the Silat Avenue precinct and sits at the gateway of the Greater Southern Waterfront (GSW) transformation corridor — the most significant urban redevelopment initiative in Singapore since Marina Bay. The 30-km stretch from Pasir Panjang to Marina East will progressively see the Pasir Panjang and Tanjong Pagar port terminals vacated and redeveloped, with Avenue South Residence positioned to benefit directly from that transformation over the coming decade.

The development’s architectural credentials are exceptional. Avenue South Residence was FIABCI World Prix d’Excellence shortlisted, received recognition from the Royal Institute of British Architects (RIBA), and incorporates sky gardens at multiple levels across both towers — a design approach that treats vertical landscaping as a structural element rather than a marketing amenity. The 1,074-unit count, paired with a 56-storey tower format, delivers economies of scale in facilities and site area that few Singapore condominiums can match: three pools, a mega gym, multiple outdoor decks, and a landscaped communal podium of considerable scale.

With 1,074 units spanning 1-bedroom to 5-bedroom configurations, Avenue South Residence targets a broad buyer spectrum: investors drawn to the Greater Southern Waterfront upside, families attracted by the mature Bukit Merah amenities and school network, and professionals who value the proximity to the CBD via the Cantonment MRT and Havelock MRT connections. Average transacted price of $1,978,767 at approximately $2,304 PSF, and average rent of $4,449 per month, position the development at the upper end of the OCR-to-RCR transition zone — a PSF premium that the market is clearly willing to pay for the height, views, and location thesis that the twin towers deliver.

Location & Connectivity

Avenue South Residence sits at Silat Avenue, a short residential street in Bukit Merah that is now permanently defined by the two 56-storey towers. The address occupies a strategic node: it is within the southern tip of the central region, adjacent to the Cantonment Road–Keppel Road corridor, and positioned at the literal gateway of the Greater Southern Waterfront transformation zone. The Pasir Panjang terminal — immediately to the south — is scheduled for phased vacating and redevelopment, with the URA Master Plan designating the broader GSW corridor for a mix of residential, commercial, and public waterfront uses.

MRT connectivity was significantly upgraded with the opening of Cantonment MRT (CC30) on the Circle Line in 2023. Cantonment station is approximately 500–700 metres from the development — a comfortable 7–9 minute walk. The Circle Line provides a direct route to HarbourFront, one-transfer access to the Marina Bay financial district, and connectivity to the Dhoby Ghaut–Promenade hub. Havelock MRT (TE16) on the Thomson-East Coast Line is also accessible to the north — approximately 10–12 minutes on foot or a short feeder bus ride — providing a second line with direct connectivity to Orchard, Stevens, and the eastern corridors.

The surrounding Bukit Merah–Alexandra neighbourhood provides the day-to-day lifestyle infrastructure. Alexandra Retail Centre and Alexandra Central Mall are within 1–1.5 km. Anchorpoint Shopping Centre, the IKEA Alexandra flagship, and the Queensway Shopping Centre cluster are 1.5–2 km north. The Keppel Club, Mount Faber Park, and the Southern Ridges walking network — one of Singapore’s most celebrated green corridors — are accessible within a 10–15 minute walk or short drive. The Singapore General Hospital and National Heart Centre cluster is approximately 2 km north-east via Outram Road.

For schools, the Bukit Merah zone provides a solid state-school catchment: Radin Mas Primary School is within close proximity, and the Crescent Girls’ School, Queenstown Secondary, and ISS International School (Alexandra Road campus) serve secondary and international education needs within 1–3 km. The Outram Park interchange — where the North East, East West, and Thomson-East Coast lines converge — is one MRT stop or a short bus ride from the Cantonment area, giving residents access to essentially the entire Singapore rail network within 15 minutes.

Schools & Education

1 primary school within the 1 km Priority Phase balloting radius.

Facilities

For a 1,074-unit mega-development, Avenue South Residence justifies its facilities rating through sheer scale and execution. The facilities deck spans multiple levels across both towers and the shared podium, and includes: a 50-metre lap pool, resort leisure pool, children’s pool, mega fitness gym, outdoor fitness stations, sky gardens at multiple floors within both towers, BBQ pavilions, function rooms, a sky terrace, multiple event lawns, and a tennis court. The sky garden provisions — a design feature at intermediate tower floors, not just the rooftop — mean that even residents on mid-level floors have access to communal outdoor green spaces with city views.

The architectural intent, guided by RIBA-recognised design principles, was to integrate landscaping vertically rather than confining it to the ground-level podium. This produces a facilities experience that is genuinely differentiated from standard Singapore condominium facilities: the sky gardens at various floors are not merely decorative but usable social spaces with seating, planting, and open-air exposure at significant heights. For a 56-storey tower, this is an unusual commitment to in-building amenity that reduces the “verticality penalty” of high-rise living.

“The pool deck is incredible — you genuinely feel like you’re in a resort. The sky gardens are a very nice touch. For 1,074 units the facilities are well-managed and not as crowded as you might expect.”

— Resident review via PropertyGuru

The trade-off inherent in a 1,074-unit development is peak-hour pressure on shared facilities. The lap pool and gym in particular will experience demand peaks on weekend mornings — residents who prioritise uncrowded facilities should factor this in against the benefit of scale. That said, the size of the facilities deck relative to unit count at Avenue South Residence is substantially better than many Singapore condominiums of similar scale: the developer invested heavily in the facilities provision as a central product differentiator, and that investment is visible in the quality and scope of the offering.

Unit Sizes & Layout

Avenue South Residence spans a 1-bedroom to 5-bedroom unit range across 1,074 units, distributed across twin 56-storey towers. The unit mix is intentionally broad to capture multiple buyer profiles: compact 1- and 2-bedroom units (approximately 420–700 sqft) for investor buyers and young professionals; family-grade 3-bedroom units (approximately 915–1,130 sqft) as the core product; and the larger 4-bedroom and 5-bedroom premium units (approximately 1,300–1,850 sqft) at the upper floors where views are most dramatic. A selection of duplex and penthouse configurations caps the range at the highest levels of both towers.

The unit layouts reflect a 2018-era new-launch design philosophy: efficient rectangular configurations, full-height windows to maximise natural light and views, and a finishes standard that befits a UOL-developed product at the $2,000+ PSF tier. Kitchen and bathroom specifications are solid — branded sanitary fittings, engineered stone countertops, and quality appliance provisions — appropriate for the price point without being extravagant. For high-floor units, the floor-to-ceiling glazing delivers the singular amenity that only 56-storey towers can provide: unobstructed panoramic views across the Southern Waterfront, Sentosa, and the city skyline.

For the 3-bedroom core product, the efficient ~1,000 sqft footprint requires some acceptance of Singapore-standard spatial planning: living and dining areas are comfortable rather than generous, and bedroom sizes are proportionate to the PSF tier. The development’s value proposition is not raw square footage — it is the combination of address, architecture, views, and Greater Southern Waterfront upside that buyers at $2,304 PSF are purchasing. Owner-occupier buyers who prioritise space efficiency over layout generosity will find the units functional and well-executed; those seeking the spatial generosity of an older CCR development will find the efficient layouts a trade-off to evaluate.

The development’s 99-year lease commencing 2018, with approximately 91 years remaining, places it firmly within all CPF usage thresholds and bank financing parameters. There are no CPF or financing constraints for buyers at current lease tenure — a structurally clean profile that supports a broad eligible buyer pool and maintains full financing optionality for resale transactions well into the 2040s and beyond.

Pricing & Market Position

Across 591 recorded transactions (all-time), sale prices range from $660,000 to $3,950,000, averaging $1,956,035.

Over the last 12 months, transactions averaged $2,242 psf.

Rents range from $3,050 to $16,000 per month across 1,082 rental transactions. Current rental yield sits at approximately 3.0%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at AVENUE SOUTH RESIDENCE typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 0.2% (from $2,212 to $2,216 psf).

Neighbourhood Comparison

The most structurally proximate comparisons for Avenue South Residence are other recent city-fringe or RCR developments at similar PSF levels. The Landmark on Chin Swee Road (D3, 396 units, completed 2023, 99-year leasehold from 2019) transacts at approximately $2,350–$2,450 PSF — marginally above Avenue South Residence and reflecting a more central D3 address closer to the Singapore River and Chinatown MRT. The Landmark’s smaller unit count means a more boutique profile; Avenue South Residence’s twin-tower scale delivers the facilities and views advantage at a slightly lower PSF.

One Bernam at Bernam Street (D2, 351 units, completed 2023, 99-year leasehold) averages approximately $2,500–$2,700 PSF — a premium reflecting the CBD-adjacent D2 address and Tanjong Pagar MRT proximity. One Bernam is a direct GSW corridor play but offers a more central and smaller-scale product at a higher PSF entry. For buyers who prioritise address centrality over tower scale and views, One Bernam is the logical comparison; for buyers who want the iconic tower identity and broader facilities footprint, Avenue South Residence at $2,304 PSF offers the better value-at-scale proposition.

Further afield, The Continuum (D15, freehold, Hoi Hup Realty, ~816 units, 2025 TOP) and Grand Dunman (D15, 99-year leasehold, Logan Property, 1,008 units, 2027 estimated TOP) represent the east-side comparables at similar or slightly higher PSF tiers. Both offer the freehold or Eastern corridor alternative to Avenue South Residence’s Greater Southern Waterfront thesis — buyer preference between these positions ultimately comes down to whether the GSW transformation narrative or the D15 lifestyle address is the preferred long-term bet.

Within the Bukit Merah–Alexandra immediate precinct, the older 99-year leasehold condominiums — such as Alex Residences (D3, 429 units, 2015 TOP, 99-year from 2011) and Sky Everton (D2, 262 units, 2021 TOP, freehold) — provide lease-comparable context at lower PSF tiers. Alex Residences transacts in the $1,700–$1,900 PSF range, a $400–$600 PSF discount to Avenue South Residence that reflects both the older lease commencement and the absence of the twin-tower iconic status. Sky Everton’s freehold title commands a premium over comparable 99-year leasehold stock. Buyers who are lease-sensitive may find Alex Residences a more defensive entry point at lower absolute PSF.

Lease Decay Analysis

The 99-year lease runs from 2018, meaning approximately 8 years have already been consumed. Roughly 91 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~81 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates AVENUE SOUTH RESIDENCE across multiple dimensions.

What Residents Say

“The views from the upper floors are genuinely breathtaking — the Southern Waterfront, Sentosa, and the city all at once. There is nothing else like it in Singapore for a 99-year leasehold. We knew what we were buying and have no regrets.”

— Owner review via PropertyGuru

“We chose Avenue South specifically for the Greater Southern Waterfront angle. Cantonment MRT opened while we were waiting for TOP, which was a pleasant surprise — it makes commuting very manageable. The IKEA and Alexandra Road food scene are two minutes by car.”

— Resident comment via EdgeProp

“The sky gardens are a real differentiator. Our floor has access to one and we use it regularly — it’s a genuinely usable outdoor space, not just a display feature. Management has been responsive. The only downside is the weekend pool crowd, but it’s manageable.”

— Resident review via 99.co

“Rental demand here is strong — professionals who want city-fringe living with easy MRT access and the Bukit Merah food options. We leased out quickly and at good yield for a $2,300 PSF property. The GSW story gives long-term confidence.”

— Investor review via SRX

The resident feedback at Avenue South Residence consistently centres on three themes: the quality of the views (particularly from high-floor units), the Greater Southern Waterfront investment thesis, and the Cantonment MRT opening as a practical connectivity upgrade. Management responsiveness and facilities maintenance are rated positively for a large development, reflecting the professionalism of the UOL-managed MCST and the relatively recent TOP date. The tenant profile includes CBD professionals, expatriate families in the Bukit Merah international school catchment, and investors using the development as a rental asset. The $4,449 average monthly rent against a $1,978,767 average price implies an approximately 2.7% gross yield — characteristic of a premium city-fringe asset where the investment case is driven more by capital appreciation than by yield.

Strengths & Weaknesses

Verdict

Avenue South Residence’s investment case is anchored in a simple but compelling structural argument: two 56-storey towers positioned at the gateway of Singapore’s largest urban transformation corridor, on a 99-year lease with 91 years remaining, developed by one of Singapore’s most reputable listed developers. The elements are well-aligned. The Greater Southern Waterfront transformation is a government-planned, URA Master Plan-endorsed initiative that will add substantial residential, commercial, and public amenity value to the Keppel–Pasir Panjang corridor over the next decade and beyond. Avenue South Residence does not need the GSW to be delivered quickly to be a sound investment — but if and when the port terminals vacate and redevelop, the proximity premium will be real.

At $2,304 PSF, Avenue South Residence sits at the upper end of the city-fringe premium range and requires buyers to accept several structural realities. The 99-year leasehold is a pricing constraint relative to freehold comparables, though the 91-year remaining tenure removes all near-term CPF and financing issues. The 1,074-unit scale means shared facilities will face demand peaks at popular hours. And the compact unit typologies at entry price points represent the trade-off between address quality and living space that is inherent in Singapore’s new-launch segment at $2,000+ PSF.

For owner-occupiers, the combination of Cantonment MRT access, mature Bukit Merah amenities, the Southern Ridges walking network, and the twin-tower architectural identity provides a genuinely distinctive living address. For investors, the $4,449 average rent at approximately 2.7% gross yield is characteristic of the city-fringe premium segment — yields are not exceptional, but capital appreciation potential anchored in the GSW thesis makes the total-return case reasonable. The development’s profile is most compelling for buyers with a medium-to-long hold horizon (7 years+) who are positioned to benefit from GSW catalysts as they materialise.

Avenue South Residence is the most architecturally iconic 99-year leasehold residential address in Singapore’s Greater Southern Waterfront corridor — a high-conviction long-term hold for buyers who believe in the GSW transformation thesis and want a flagship address at city-fringe entry pricing.

Buyers who should look elsewhere include those who prioritise raw living space over views and architecture, those seeking sub-$2,000 PSF RCR entry pricing, and those for whom freehold tenure is a non-negotiable criterion. For everyone else — particularly investors and families with medium-to-long hold horizons who want Singapore’s next major urban waterfront play — Avenue South Residence makes a coherent and well-supported case.