Double Bay Residences
Simei is one of those East Coast addresses that buyers from other districts consistently undervalue — until they look at the numbers. Double Bay Residences, the 646-unit 99-year leasehold development on Tampines Road completed in 2012, has quietly logged 59 resale transactions in the 24 months to May 2026 at an average of S$1,408 psf (as of 2026-05). For a leasehold project that sits a short walk from Simei MRT (EW3), fronts the Tampines corridor, and draws genuinely strong rental demand from Changi Airport and Changi Business Park workers, that pricing remains meaningfully below the noise around Tampines Central launches and CCR benchmarks. The question is whether the tightening lease — 82 years remaining at time of writing — and the scale of the development merit a serious buy decision, or whether they tip the calculus toward a newer alternative.
Developed by Secure Venture Development (Simei) Pte Ltd, Double Bay Residences occupies a matured neighbourhood that has seen the Tampines Regional Centre expand steadily, with Tampines Mall, Tampines Hub, and IKEA Tampines all within a short drive or bus ride. The OCR East segment has tracked a resale psf recovery since 2023, with District 18 averaging consistent transaction volumes supported by an HDB upgrader pool that regularly turns to Simei-area private condominiums as their first private property step (as of 2026-Q1). Whether you are evaluating this project as an owner-occupier or a rental investor, the context matters: Double Bay Residences is a mid-cycle 99LH proposition, priced at a discount to its newer district neighbours, with real yield numbers to back the rental case.
Overview & Key Facts
Double Bay Residences occupies a sizeable plot along Simei Street 4 in District 18 — a mature residential neighbourhood in Singapore’s east that straddles the boundary between heartland practicality and Changi corridor opportunity. Developed by Secure Venture Development (Simei) Pte Ltd, the 646-unit development obtained its Temporary Occupation Permit in 2012 and sits on a 99-year lease commencing from 2008.
The development’s defining advantage is its dual MRT access: Simei MRT (East-West Line) is just 420 metres away, while Upper Changi MRT (Downtown Line) sits at 580 metres — giving residents direct access to two separate rail lines without needing a bus. Add Expo MRT interchange at 870 metres, and you have three stations within comfortable walking distance. This triple-station catchment is genuinely rare for an OCR development at this price point.
With 646 units, Double Bay Residences hits a mid-size sweet spot: large enough to sustain a good range of facilities and keep maintenance costs distributed, yet small enough that common areas do not feel overcrowded. The development has maintained steady price appreciation over five years — from $1,192 psf to $1,451 psf — while remaining meaningfully cheaper than newer launches in the Tampines-Simei corridor, where asking prices now routinely exceed $1,700 psf.
Location & Connectivity
Double Bay Residences benefits from one of the stronger MRT propositions in the OCR. Simei MRT on the East-West Line is a genuine 5-minute walk at 420 metres, and Upper Changi MRT on the Downtown Line is barely further at 580 metres. The Downtown Line provides a direct ride to the CBD (Bugis, Bayfront, Downtown stations) without transferring, while the East-West Line connects to Paya Lebar, City Hall, and Raffles Place. The Expo MRT interchange — where the two lines cross — is 870 metres away, adding yet another access point.
For drivers, the PIE and ECP are accessible within minutes, putting Changi Airport roughly 10 minutes away and the CBD about 20 minutes in off-peak conditions. Changi Business Park is a short drive or bus ride away, making this a practical address for the many tech and finance professionals who work in the CBP cluster — companies like Changi Airport Group, DBS, and various logistics firms have offices there.
Daily amenities centre on Eastpoint Mall at Simei MRT, which houses a FairPrice supermarket, food court, clinics, and everyday retail. For more variety, Tampines Mall, Century Square, and Tampines 1 are one MRT stop away at Tampines — collectively one of Singapore’s largest suburban retail clusters. Singapore University of Technology and Design (SUTD) is just 840 metres from the development, adding an academic dimension to the neighbourhood.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Park View Primary School | primary | Within 1 km |
| Changkat Primary School | primary | Within 1 km |
| Singapore University of Technology and Design | tertiary | Within 1 km |
| Angsana Primary School | primary | Within 1 km |
| Springfield Secondary School | secondary | ~1.2 km |
| Ping Yi Secondary School | secondary | ~1.4 km |
| Chongzheng Primary School | primary | ~1.5 km |
| North London Collegiate School Singapore | international | ~1.6 km |
Facilities
Double Bay Residences delivers a competent if unsurprising set of facilities for a mid-size 2012 development. The centrepiece is a sizeable swimming pool flanked by a lap pool, children’s wading pool, and a Jacuzzi — adequate for a 646-unit development without feeling stretched. The gym is functional, covering the basics of cardio and weights equipment typical of its era, though it lacks the premium finishings found in newer launches.
Additional amenities include a tennis court, BBQ pavilions, a function room, a children’s playground, and landscaped gardens. The grounds are reasonably well-maintained, with mature trees providing shade around the pool deck and common walkways — a benefit of the development being over a decade old. A clubhouse serves as the social anchor for residents.
By 2012-era standards, the facility set is solid but not extraordinary. It lacks the resort-style flourishes — sky gardens, rooftop infinity pools, co-working lounges — that newer developments use as marketing hooks. For residents who prioritise practical daily amenities over Instagram-ready features, this is perfectly adequate. The trade-off is that maintenance fees remain reasonable compared to newer developments that need to service elaborate but underused lifestyle amenities.
Unit Sizes & Layout
Double Bay Residences offers a range of configurations from compact 1-bedroom units through to spacious 4-bedroom and penthouse layouts. Unit sizes are characteristic of the 2010–2012 era — generally more generous than what new launches deliver today, particularly in the 2- and 3-bedroom segments where the floor area difference can be 10–15% larger than contemporary equivalents.
The layout efficiency is decent for its vintage. Bedrooms are regularly shaped, which makes furniture placement straightforward — a practical advantage that is often underappreciated until you try to fit a queen bed and wardrobe into the oddly angled rooms that some newer developments produce. Kitchens in the larger units are enclosed, which remains the preference for most Singaporean households that cook regularly.
Interior finishings are functional but dated by current standards. Buyers should budget for renovation, particularly if moving from a newer development. Bathrooms and kitchen countertops are the most commonly upgraded elements. That said, the structural bones — ceiling height, room proportions, and natural ventilation — are sound.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 5 | $1,293 | $723,000 |
| 2 BR | 36 | $1,264 | $1,182,960 |
| 3 BR | 62 | $1,285 | $1,563,250 |
| 4 BR | 39 | $1,286 | $1,847,667 |
| 5 BR | 3 | $944 | $3,466,667 |
Pricing & Market Position
Based on 145 recorded transactions, sale prices range from $700,000 to $3,580,000, averaging $1,555,738 (~$1,448 psf).
Rents range from $1,800 to $13,500 per month across 681 rental transactions. Current rental yield sits at approximately 3.4%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 31.7% (from $1,108 to $1,459 psf).
Neighbourhood Comparison
The competitive set tells a clear story about Double Bay Residences’ positioning. Treasure at Tampines is the nearest mega-development comparison at 2,203 units and $1,584 psf — newer and larger but without Double Bay’s dual MRT advantage. Tenet at $1,384 psf on a 2021 lease offers a slight price discount with a fresher lease, but is further from MRT stations.
The new launch premiums are stark. Parktown Residence at $2,369 psf represents a 66% premium over Double Bay for a 2023 lease, while Aurelle of Tampines at $1,769 psf sits 24% higher with a 2024 lease. Pasir Ris 8 at $1,678 psf offers an integrated transport hub concept but is positioned in a different micro-market entirely.
The key differentiator for Double Bay is the MRT calculus. Few developments in the Tampines-Simei-Pasir Ris corridor can match having two distinct MRT lines within 600 metres. For households where public transport is the primary commute mode, this advantage outweighs the newer finishings and fresher leases that competitors offer — particularly when the price gap funds a comprehensive renovation budget with change to spare.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| DOUBLE BAY RESIDENCES | 99 yrs lease commencing from 2008 | 2012 | 646 | $1,448 |
| TREASURE AT TAMPINES | 99-year leasehold | 2023 | 2,203 | $1,588 |
| PARKTOWN RESIDENCE | 99 yrs lease commencing from 2023 | 2025 | 1,193 | $2,367 |
| AURELLE OF TAMPINES | 99 yrs lease commencing from 2024 | 2025 | 760 | $1,769 |
| TENET | 99 yrs lease commencing from 2021 | 2022 | 618 | $1,386 |
| RIVELLE TAMPINES | 99 years leasehold | — | — | $1,933 |
Lease Decay Analysis
The 99-year lease runs from 2008, meaning approximately 18 years have already been consumed. Roughly 81 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~81 years | Full bank financing available |
| 2038 | ~69 years | CPF usage still unrestricted for most buyers |
| 2047 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2067 | ~39 years | Significant financing restrictions for next buyer |
| 2107 | Expiry | Lease reverts to state |
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 ~71 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates DOUBLE BAY RESIDENCES across multiple dimensions.
What Residents Say
“The dual MRT access is really the biggest draw. I walk to Simei MRT in the mornings and sometimes take the Downtown Line from Upper Changi when heading to town. Having that option without needing a bus is something you don’t get at most condos in this price range.”
— Resident review via PropertyGuru
“Very practical location for families. Eastpoint Mall is just across the road for groceries, and my kids’ school is within walking distance. Not the fanciest condo, but everything you need is close by.”
— Resident review via EdgeProp
“My husband works at Changi Business Park and his commute is literally five minutes by bus. We looked at condos further west but nothing came close to this kind of work-life convenience at this price.”
— Resident review via 99.co
Resident feedback coalesces around a few themes: the MRT connectivity is consistently praised as the development’s standout feature, the Simei neighbourhood is described as practical and self-contained, and the facilities are considered adequate without being exceptional. Common criticisms relate to ageing finishings, the need for renovation in older units, and occasional noise from Simei Street 4 for lower-floor street-facing units. The community skews toward young families and working professionals — a mix driven largely by the Changi Business Park and airport employment catchments.
Simei MRT at the doorstep, with the full East West Line advantage. The development sits within a short walk of Simei MRT (EW3), the first station east of Tampines Town on the East West Line. That corridor puts Raffles Place at roughly 40 minutes and Changi Airport at under 15 minutes without a transfer — a combination that very few OCR developments can offer at this price point. The Simei MRT station guide on ShiokNest covers bus feeder routes and surrounding amenity access in detail (as of 2026-Q1). For residents who commute toward the CBD, Jurong Lake District, or Changi Business Park, this is a genuine daily convenience that is not fully priced into the current S$1,408 psf average.
Rental demand is proven and structurally supported. Double Bay Residences has logged 691 rental transactions across its history, with 2024–2026 averages of S$4,055 per month for two-bedroom units and S$5,126 for three-bedroom units (as of 2026-05). The rental catchment is anchored by Changi Airport workers, Singapore Airlines ground staff, Changi Business Park tenants, and the overflow from full Tampines Central projects. Two-bedroom gross rental yield at current resale prices of approximately S$1.3M sits around 3.7%; three-bedroom yield at approximately S$1.7M purchase price sits around 3.6%. These figures are in line with — and in some months above — OCR East benchmarks. Use the cash-flow calculator to stress-test net yield after MCST, property tax, and agent fee assumptions, and check current sub-district rental benchmarks on the rental-yield map (as of 2026-Q1).
Competitive psf entry with a large, amenity-rich site. At S$1,408 psf (2024–2026 average, as of 2026-05), Double Bay Residences sits below newer District 18 launches and well below the premium commanded by similarly sized developments in D15 and D16. The 646-unit development supports full-scale facilities — multiple pools, tennis courts, gym, barbecue pavilions — at a density that does not feel overwhelming. Unit sizes skew generously compared to post-2018 new-launch typicals: three-bedroom units in the 1,100–1,300 sqft range remain the dominant transaction type, appealing to families and upgraders who need genuine functional space. The District 18 analytics page provides a rolling psf benchmark across all D18 private condominiums for direct comparison (as of 2026-05).
Strong HDB upgrader and regional-centre catchment. Simei and the broader Tampines catchment represent one of Singapore’s largest HDB upgrader pools, with multiple BTO and resale estates feeding into private condo demand as household incomes rise. The Tampines Regional Centre — one of only three in Singapore — anchors retail, entertainment, and employment in the sub-region, reducing dependence on CBD commuting for many residents. Tampines Hub (opened 2017, expanded since) delivers a community campus of sports, library, and civic facilities that rival town-centre offerings elsewhere. For an upgrader household making their first private property move, Double Bay Residences’ psf, size, and proximity to familiar Tampines-area infrastructure is a consistently compelling package. See the HDB to condo upgrader roadmap for a step-by-step framework on timing, financing, and ABSD structuring before committing (as of 2026-Q1).
82 years remaining on the lease — the decay clock is ticking. Commencing from 2008, the 99-year lease has 82 years left as of mid-2026. That figure is above the critical 80-year threshold at which CPF restrictions begin to bite (buyers using CPF for a property with less than 30 years remaining at the time of the loan’s expiry face reduced OA draw-down limits), but it is inside the window where lease decay starts to compound meaningfully on resale values (as of 2026-Q1). A buyer who purchases today at age 35 and targets a 20-year exit will be selling at 62 years remaining — a tenure profile that already materially discounts bank valuations and restricts the eligible buyer pool. Run the lease-decay calculator with your target hold period to quantify the capital-value discount at exit. The 99-year HDB lease explainer on ShiokNest covers how banks and CPF boards apply lease-remaining haircuts in practice — the same logic applies to private leasehold condominiums (as of 2026-Q1).
Simei is quieter than Tampines Central, and that gap is widening. The development sits in the Simei sub-precinct rather than Tampines Central, which means residents have a bus or short drive to reach Tampines Mall, Tampines Hub, and the primary retail cluster. The Simei estate is predominantly residential with limited retail footprint; the Town Square (East Point Mall) is within walking distance but is a tier below Tampines’ regional mall offering. As new mixed-use developments have filled in around Tampines Central and Tampines North, the relative amenity gap versus Simei has grown modestly. This is unlikely to affect demand for rental tenants anchored on Changi, but it matters to owner-occupier families comparing lifestyle convenience before shortlisting (as of 2026-Q1).
2012 vintage means the next major maintenance cycle is near. At 14 years post-TOP, Double Bay Residences is approaching the window where facade repainting, pool resurfacing, lift replacement, and water infrastructure upgrades typically land on MCST budgets. Prospective buyers should request the latest three years of MCST audited accounts and the sinking fund balance to assess whether the fund is adequately provisioned. Freehold projects can defer major capital works indefinitely; leasehold owners face a different calculus — heavy sinking-fund calls at year 15–20 can compress net yield for investor-owners. The ROI calculator allows you to model net return after projected maintenance levies and selling costs over your target hold period (as of 2026-Q1).
ABSD exposure changes the investment arithmetic materially. For Singapore Citizens buying a second residential property, ABSD stands at 20% on the purchase price (as of 2026-Q1). At a typical three-bedroom purchase price of approximately S$1.7M, that is S$340,000 of additional upfront cost — a figure that significantly extends the payback period for rental investors. The ABSD remission window for HDB upgraders selling their flat within six months of completing the private purchase provides partial relief for qualifying buyers; review the ABSD remission timeline for HDB upgraders and use the stamp-duty calculator to model total upfront cost for your specific buyer profile. Verify current ABSD rates directly with the IRAS ABSD rate table before proceeding (as of 2026-Q1).
[
{
"persona": "first-time-hdb-upgraders",
"fit_color": "green",
"reason": "Simei-area HDB households making their first private property move will find Double Bay Residences’ psf, unit sizing, and familiar precinct context highly accessible. The S$1.3M–S$1.7M price range for two- and three-bedroom units is within dual-income HDB upgrader financing reach, and ABSD remission on the HDB-simultaneous-sale timing reduces upfront cost. The MRT proximity minimises lifestyle disruption versus an HDB flat that was already MRT-adjacent."
},
{
"persona": "yield-focused-investors",
"fit_color": "green",
"reason": "Gross yields of 3.6%–3.7% for two- and three-bedroom units (as of 2026-05) are competitive for OCR East, backed by 691 recorded rental transactions confirming structural demand from Changi Airport and Changi Business Park tenants. Rental void risk is low given the employment anchor, and the below-district-average entry psf supports a positive yield spread over typical OCR mortgage rates."
},
{
"persona": "families-with-young-children",
"fit_color": "green",
"reason": "Changkat Primary School, Poi Ching School, and Tampines Primary are in the broader catchment. The large three- and four-bedroom unit sizes (1,100–1,700 sqft typical) accommodate family living comfortably versus the compressed floor plates of post-2018 new launches. Tampines Hub sports and library facilities are a short bus ride away, and the precinct is genuinely child-safe with estate parks and covered walkways."
},
{
"persona": "long-term-hold",
"fit_color": "amber",
"reason": "The 82-year remaining lease is workable today but introduces capital-value discount risk on an exit beyond 15 years. Buyers with a 10-year horizon are largely insulated; those targeting a 20-year hold should model the lease-decay haircut carefully using the lease-decay calculator. The structural rental demand supports income yield on a long hold, but the terminal value equation is less compelling than freehold alternatives in the same price band."
},
{
"persona": "car-owning-households",
"fit_color": "amber",
"reason": "The PIE and TPE expressways are directly accessible, making Tampines Road the natural route to CBD or the industrial west. Covered car parks within the development are adequate for a 646-unit project. However, the surrounding Tampines-Simei road network experiences peak-hour congestion toward the PIE on-ramps, adding 10–15 minutes on weekday mornings for CBD-bound drivers. Car-owners targeting Changi or east-side employment nodes face minimal congestion."
},
{
"persona": "avoid-for-short-term-hold",
"fit_color": "red",
"reason": "Transaction costs (BSD, agent commission, legal fees) and the ABSD exposure for second-property buyers make a sub-five-year hold economically punishing. The project’s resale average has been stable rather than rapidly appreciating — insufficient capital gain to absorb total acquisition and disposal costs within a short window. Buyers looking for a two-to-three-year flip should look elsewhere."
}
]
Double Bay Residences holds its ground as a structural buy for the right profile, specifically HDB upgraders and rental investors with a seven-to-fifteen-year horizon who want credible yield income from a MRT-adjacent District 18 address at below-Tampines-Central pricing. The case is not about capital appreciation fireworks — the project is mature, the lease is ticking, and the immediate amenity environment is quieter than Tampines Central. The case is about income yield, functional space, and commute quality at a psf that has not yet fully priced in the Changi employment anchor. At S$1,408 psf average (as of 2026-05) versus the S$1,600–S$1,900 psf range for comparable leasehold projects closer to Tampines Central, the entry discount remains real.
The lease-remaining arithmetic deserves honest scrutiny before any buyer commits. An 82-year lease today is comfortable on a ten-year hold; it starts to compress the resale buyer pool meaningfully beyond 15 years, and CPF board valuations begin to apply haircuts when the lease at loan expiry drops below 35 years. Buyers who are not CPF-constrained and hold for income rather than capital gain are less exposed to this risk than owner-occupiers who may need to extract equity via sale in their 50s or 60s. Use the lease-decay calculator to model your specific exit scenario and the total-cost calculator to build a full acquisition ledger — BSD, ABSD where applicable, legal fees, and initial renovation provision — before comparing against newer D18 alternatives on the side-by-side comparison tool (as of 2026-Q1).
Shortlist Double Bay Residences if: (a) you are an HDB upgrader from the Tampines-Simei catchment who values size, yield, and MRT access over premium branding, (b) you are a rental investor with a Changi-corridor tenant focus and a ten-plus-year hold, or (c) you want genuine three- to four-bedroom family space at an OCR price that new launches cannot match. Remove it from your shortlist if: your hold period is under five years, you need freehold tenure for long-term generational transfer, or your primary tenant target is a premium expatriate who compares against Tanjong Rhu or Marina Bay options. Review the full HDB upgrader financial planning guide before committing, and verify your total financing picture via the affordability calculator and mortgage calculator against current SORA-pegged rates (as of 2026-Q1).
Sources & References
Frequently Asked Questions
How far is Double Bay Residences from the nearest MRT station?
What is the average PSF price at Double Bay Residences?
How many years are left on the lease?
What is the rental yield at Double Bay Residences?
What schools are near Double Bay Residences?
How does Double Bay Residences compare to Treasure at Tampines?
What ABSD applies, and is there any remission available for HDB upgraders?
For Singapore Citizens buying a second residential property, ABSD is 20% of the purchase price as of 2026-Q1. For a three-bedroom unit at approximately S$1.69M, that is S$338,000 of additional upfront cost. HDB upgraders who sell their HDB flat within six months of completing the purchase of the private property can apply for ABSD remission on the second-property rate, effectively deferring the charge subject to the sale being completed on time. The ABSD remission timeline guide covers the exact qualifying conditions and application window. Use the stamp-duty calculator to model total BSD and ABSD, and verify current rates with the IRAS ABSD rate table before committing (as of 2026-Q1).