The Waterside

Overview & Key Facts

The Waterside is a freehold condominium located at 1–11 Tanjong Rhu Road in District 15, one of Singapore’s most established east-coast residential precincts. Developed by Tanjong Rhu Properties Pte Ltd and completed in 1993, the development comprises 502 units across 6 blocks of 23 storeys each. At over three decades old, The Waterside has aged into a mature, well-settled community that benefits from a prime waterfront position along the Kallang Basin.

The freehold tenure is a significant asset for a development of this scale in District 15, where many competing condos hold 99-year leases. Units are exclusively 3-bedroom and 4-bedroom configurations, ranging from 2,142 sqft to 2,433 sqft — sizes that reflect a different era of residential development and are simply unavailable in new builds at any PSF level. These are genuine family apartments designed for actual living rather than efficient investment footprints.

At an average PSF of approximately S$2,280, The Waterside commands pricing that reflects its freehold status, waterfront location, and generous unit sizes. Resident reviews rate it 4.4 out of 5, with particular praise for the spacious units, community atmosphere, and proximity to waterfront recreation.

Location & Connectivity

The Waterside sits on Tanjong Rhu Road, directly facing the Kallang Basin waterfront. The location places residents within walking distance of the upcoming Tanjong Rhu MRT (TE23) and Katong Park MRT (TE24) on the Thomson-East Coast Line, which will significantly improve public transport access when operational. Currently, Stadium MRT (Circle Line) and Mountbatten MRT are the nearest stations, each roughly 800 metres to 1 km away.

For drivers, the location is excellent. Suntec City and Raffles Place are about 5 minutes away, and Orchard Road is reachable in 10 minutes via the ECP or Nicoll Highway. The East Coast Parkway provides rapid access to Changi Airport (15 minutes) and the eastern suburbs. The waterfront promenade along Kallang Basin offers direct cycling and jogging connectivity to Marina Bay and Gardens by the Bay.

The immediate neighbourhood is mixed: the Tanjong Rhu corridor houses several condo developments and is relatively quiet, while the nearby Kallang area provides Stadium and Leisure Park amenities. Dunman High School is directly opposite the development. For grocery shopping, Cold Storage at Kallang Leisure Park and FairPrice at Jalan Tiga are the closest options, both a short drive away.

Schools & Education

Facilities

For a 1993-vintage development, The Waterside boasts an impressively comprehensive facility set. The centrepiece is an Olympic-length swimming pool, complemented by a wading pool, two tennis courts, three squash courts, two multi-purpose rooms, a fully equipped gymnasium, two saunas, five BBQ huts, multiple children’s playgrounds, jogging tracks, and exercise stations. The breadth of sporting facilities — particularly the squash courts — is unusual even by modern standards.

“Outstanding condo. Great facilities, spacious apartments, very well maintained, and a great community. Olympic size pool, kiddie pool, multiple tennis courts, squash courts, community garden, and multiple kiddie play areas.”

— Resident review via PropertyGuru (rated 4.4/5)

Some common areas require upgrading — residents have noted that certain amenities could benefit from refurbishment. The ducted air-conditioning system in units is a known maintenance concern, and buyers should factor this into their assessment. Units facing the East Coast Parkway experience noticeable traffic noise throughout the day, which is a significant consideration for those stacks.

Pricing & Market Position

Across 95 recorded transactions (all-time), sale prices range from $3,160,000 to $6,280,000, averaging $4,263,638.

Over the last 12 months, transactions averaged $2,322 psf.

Rents range from $4,200 to $12,750 per month across 649 rental transactions. Current rental yield sits at approximately 2.3%.

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 39.1% (from $1,692 to $2,353 psf).

Neighbourhood Comparison

In the Tanjong Rhu corridor, The Waterina at Tanjong Rhu and Tanjong Rhu One are newer alternatives with fresh leases and modern finishings, but at higher PSF and with smaller units. For buyers who want waterfront living with a fresh lease, these options provide a cleaner entry point. The Waterside’s counter-argument is freehold tenure and unit sizes that are 50–80% larger than comparable new-build units.

In the broader District 15 market, Meyer Mansion and Meyerhouse offer freehold luxury waterfront living at premium PSF levels (S$2,500–$3,000+). These developments target a more affluent buyer segment with modern architecture and boutique positioning. The Waterside offers significantly more space per dollar but asks buyers to accept a 30-year-old building with corresponding maintenance considerations.

ShiokNest Scores

Our proprietary scoring system evaluates THE WATERSIDE across multiple dimensions.

What Residents Say

“Outstanding condo. Great facilities, spacious apartments, very well maintained, and a great community. The management and guard house staff are the most friendly and helpful people I have ever met in condos Singapore.”

— Resident review via PropertyGuru

“Nice relaxed ambience, but common amenities appear to require some upgrading. Ducted aircons are a problem to watch out for. Units facing ECP are noisy throughout the day.”

— Resident review via PropertyGuru

“The plot ratio of 2.1 is lower than 2.8 of nearby plots because it is in the direct flight path of military jets landing at Paya Lebar Airbase. En-bloc may not be likely without an increase in plot ratio.”

— Property analysis via PropertyGuru

Strengths & Weaknesses

Verdict

The Waterside offers a rare combination: freehold tenure, waterfront location, Olympic-pool facilities, and unit sizes exceeding 2,100 sqft — all in a District 15 address that is about to receive a major MRT upgrade. At approximately S$2,280 psf, the pricing reflects these attributes, but the total quantum (S$4.7M–$6.2M) places it firmly in the executive family market.

The rental yield of approximately 2.1% is low, reflecting the high capital value relative to achievable rents. This is not an investment play driven by cash flow — it is a capital preservation and lifestyle purchase. The freehold tenure provides protection against lease decay, and the upcoming TEL station offers a genuine catalyst for value appreciation that few 30-year-old condos can claim.

The key risk factors are the building’s age (ducted aircon, potential structural maintenance), the ECP noise issue for affected stacks, and the current plot ratio limitation of 2.1 (lower than the 2.8 of nearby plots due to the military flight path from Paya Lebar Airbase, which may constrain en-bloc potential). For families who want space, waterfront living, and a freehold east-side address with improving connectivity, The Waterside remains a compelling proposition.