Avenue South Residence New Launch Condo Review – Rail Corridor’s your Garden | Watch Greater Southern Waterfront unfold

PLB Editorial Team

January 31, 2021

Table of content


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Editor’s note:

Prices and availability have been updated to reflect the latest information for Avenue South, as of end-April 2021. The launch date was conducted in July 2019. For more updates, or if you have any enquiries, do contact PropertyLimBrothers here.

When Avenue South Residence was released in July 2019, there was a strong response of reportedly selling more than 270 units. There are still about 30% of units left. We discuss more about the available units, and whether these units are worth investing.

Set in the Bukit Merah enclave at Silat Avenue (not to be confused with Sirat Rd), Avenue South consists two 56-storey majestic towers and low-rise apartments of 1,074 units. Cloistered within various ongoing master plans such as The Central Business District, Outram Medical Campus, the Greater Southern Waterfront and Southern Ridges, the project is slated for completion in 2023. It is sited along the luscious 24km Rail Corridor, promoting communal activities, further developments and more.



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Editor’s note: All units at the Heritage have been fully sold, accurate as of end-April 2021.


High-rise, unmatched, unobstructed views

Thoughtfully planned-out facilities
Connected to anticipated 24km Rail Corridor

2 Towers have one of the best unblocked views of the South

Some layouts caters to CBD professionals

Plot ratio for >1000 units may be a little tight compared to more spacious developments like Clavon/Parc Clematis.

Access to MRT is not nearby.

About the Developers

A tripartite consisting UOL Group Limited, Kheng Leong Company and United Industrial Corporation Limited (UIC). UOL is backed none other than UOB group, one of Singapore’s top banks and leading financial institutions. UIC is renowned for their 2.5 million square feet of office space and over a million square feet of retail space in Singapore. Kheng Leong, in contrast, is more renowned overseas with its residential investments stretching far to Shanghai, Hong Kong, Sydney, London and even Los Angeles.

Their combined achievements include Tre Ver, Amber 45, V on Shenton, Meyer House and 15 Holland Hill.

Purchase and Breakeven Price

Interestingly, the $1.035 billion bid from the tripartite was uncontested, probably due to another widely contested Holland Road site, receiving about 15 bids. With construction, taxes, marketing and financing costs, that works to be about $493.8 mil*. Averaging that to the GFA of 910,099 sq ft, we get an estimated breakeven of $1679 PSF PPR.

From this, you can roughly calculate how much the developer earns from each sale and decide for yourself if the purchase is justifiable.

Is it better to wait it out for developers to drop prices?

Qualifying Certificate (QC) Scheme — If the units are not sold by July 2021, developers will incur extension charges at 8% of the land purchase price pro-rated on the unsold units in the first year.

In Feb last year, developers with “substantial connection to Singapore” can now be exempted from the QC Scheme. Avenue South will probably not be affected due to UOL’s contribution to finance in Singapore, though will still be subject to additional buyer’s stamp duty (ABSD) regime.

By the way, ABSD means developers will have to fork out 30% of its land purchase price, but get the 25% back if the units are completed and fully sold within the 5-year period.

Accessibility and Conveniences

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Located on the city fringe, Avenue South enables your accessibility to be within close proximity to The Central Business District, Harbourfront and the Alexandra precinct. The downside will be that the two nearest MRTs will be the currently constructed Cantonment and Keppel MRT stations, both due in 2025. MRT is an alternative, but it’s a 6-7 min drive, and an even longer to walk. Our suggestion? Just drive, or grab.

Furthermore, URA has plans for some rejuvenation for the CBD area, which will further bolster the recovery post-pandemic.

Having a nearby hospital gives peace of mind, as medical appointments are inevitable (okay, a tad macabre). Singapore General Hospital is just across the road, and its 43-hectare campus is up for a 20-year master plan upgrade (announced in 2016).


Nearest food conveniences are the eateries located at Block 146, 148 and 149 at Bukit Merah. At block 150, there’s Fairprice NTUC for your groceries. Personally, this area is beneficial as you get the affordability and conveniences of neighbourhood, yet quick to access the city centre.

Being near to HDBs has its foodie perks.


Being near to HDBs has its foodie perks.

Of course, you have access to Chinatown’s famous food options like People’s Park Complex or VivoCity’s mall options, both which are just a 10-min drive.


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Here’s the list of nearby schools, nearby to reputable local schools. CHIJ (Kellock) is a much sought-after girls’ school. As an expatriate, you might want your family to be nearer to international schools. Of which, we will suggest Normanton Park. We wrote an article about it here, with our studio and showflat tour videos following up shortly, so be sure to check it on our YouTube page.

Interesting, Zhangde Primary school is 0.993km away from the Avenue South centre, so for more advice, you know where to go.


A nearby grocer is always a bonus, where you can grab your marketing needs easily.


A nearby grocer is always a bonus, where you can grab your marketing needs easily.

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Shopping-wise, prime spots like VivoCity and the city centre are just a short expressway away. As the CTE, the central vein leading to town, is nearby Avenue South, it connects residents to the Orchard road belt and Clarke Quay. The Tanjong Pagar shophouses are sited nearby, with quaint restaurants and bars for your family to relish.

Places of Interest

Cycling adventures, nature walks, probably one of the best access to green trails we’ve seen in a while.


Cycling adventures, nature walks, probably one of the best access to green trails we’ve seen in a while.

Avenue South Residence will be connected to the Rail Corridor, a widely anticipated 24km green transformation connecting the North and South of Singapore. It’s scheduled for completion this year, and will encourage communal activities and revitalise future developments. This upgrade will open up a plethora of recreational options for families, and improve exit strategies in future (which we will cover later). It connects The Southern Ridges (Henderson Waves, Mount Faber Park, HortPark among others) to Bukit Timah Railway Station all the way to Sungei Buloh Woodland Reserve.

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But that’s not all. Even without the green stretch, access to other family-worthy places such as Sentosa, Harbourfront’s cable cars and the future resort island Pulau Brani. As stated in our previous articles, the Greater Southern Waterfront is a facelift for the South of Singapore, which we will cover later in our Master Plan and Future Developments section.


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Verticle gardens bring nature upwards for the high-rise residents.


Verticle gardens bring nature upwards for the high-rise residents.

From sky courts to breathtaking function rooms on the 56th floor, residents are pampered quite a bit.


From sky courts to breathtaking function rooms on the 56th floor, residents are pampered quite a bit.

With the Rail Corridor connected to Avenue South, it is only natural to be inspired by its verdant promises. Uniquely, this development features an elaborate park, with playgrounds, adventure areas and trails. Proclaiming over 80 amenities split into 8 unique zones, it utilises both the longitudinal and vertical space.

What we appreciate, is how they have demarcated the public and residential areas, such as the park, childcare centre, shops, restaurants and commercial schools. The Wilderness zone pushes for more adventures, titled Fantasy Adventure and Rail Adventure; some of which, will be publicly accessed and part of the Rail Corridor.

The internal facilities zone is titled The Oasis, and features the usual Function Rooms, Barbecue Pavilions, Fitness Suite, 50m Lap Pool and more. All of which are located towards the centre of the development.

The northern end features The Sanctuary and The Resort, with large ClubHouse, Function Rooms, Tennis Court, Cabanas and Fitness areas.

Sometimes, from the size of the development, you can usually anticipate a surplus of barbecue pits, exercising areas, a range of pool facilities and dedicated function rooms for events. The developers took a step further, with elaborate gardens interspersed throughout the two high-rise residential towers.  On the 56th storey, instead of adding more units (which is a more profitable approach), function rooms are planned, allowing for an impressive experience for would-be clients/ guests.

In terms of the facilities planning, zoning of more public areas, it gives a decent meld of exclusivity and privacy for certain facilities, yet community building for others. That’s definitely a plus point in our list.

Technology and Environmentally Friendly Features

As a new launch, Avenue South features the usual smart air-conditioning, intercom, digital locks and smoke detectors, connected to your phone. Peak Collection units come with smart water heaters and Google home-compatible lighting and curtains (points provided by developer). Additionally, concierge services are available daily, including housekeeping and laundry, pet grooming services, groceries, event planning, taxi and limo services; private dining or chef, furnitures and even interior designers. Take note that for these, it’s chargeable, but it’s a comforting convenience when you need to say, plan an event urgently and your list of contacts are running thin.

Site Plan and Units

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Editor’s note: Image size may be too large, contact PropertyLimBrothers for a more detailed price list.

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Editor’s note: Accurate as of end-April 2021, we will be covering the available units, and giving our opinions on the stacks.

We put together this image for you to check out the current prices and availability. The low-rise blocks are fully sold off, consisting a mix of the 1-,2- and 3- bedroom classic and premium layouts. Due to the commercial shops and childcare centres located at Level 1, we probably can understand how these might have a slightly lower price quantum and was palatable to homebuyers.

Both high-rise blocks are north-south facing, with Block 11 oriented slightly towards the north-west. It’s not a dealbreaker, with both sides having a decent spread of units.

Soaring 56 stories high, the two blocks are sure to be prominent along Singapore’s skyline. Developers have split the units into two collections, namely the Horizon Collection (level 3-35) and the Peak Collection (level 37-56). Let’s dive down into the layouts.

Notably, the 47% allocation of 2-bedders and 2-bedder premium units indicate Avenue South’s targeted audience: the working class working in the CBD and the Keppel areas. Expect some competitive tenancy and frequent change of owners.

For the high-rise towers, and due to its elevated vantage point, the south-facing is the favourite for its unobstructed sea views for higher units, though the north-facing does overlook the Bukit Merah/Tiong Bahru area.

Here at PropertyLimBrothers, we pride on transparent advice and well-researched analysis, for you to make a wiser choice. Do contact us here for more enquiries, and read on for what else Avenue South has for its layouts and stacked up against the other residences.





Two layouts form the 1-bedders really simplify the choices for these units, though the stacks do have mirroring layouts. With a one-wall kitchen along the entryway, both 527 sq ft interiors are compact yet with a decently-sized balcony and master bedroom space.

Availability for the 1-bedders is limited from the 31st to the 56th floor. The rest have been sold, with the available units ranging from the $1.15X-1.37X mil price quantum.




Comparing stack 44 to 29 of Block 13, the North-facing units are going at a significantly lower price. On the 34th floor, Stack 44 is going at $1.15X mil, compared to Stack 39, which is at $1.24X mil. That’s more than $85k price difference. Same layout size. Is it worth just for the view?

Also, comparing the price difference for the 34th floor and 36th, there’s another price jump. For Stack 44, the 34th-storey unit is going at $1.15X mil, compared to $1.18X mil on the 37th floor. That’s another $30k difference just considering just the level. Exclusive views like are always valued, so if you have the capital, we suggest opting for the south-facing units at Stacks 29 and 39.


At 657 sq ft, there’s only one option for the 2-bedders. Dumbbell unit, enabling a more well-utilised space. Functional galley kitchen, overlooking the living and balcony space.




Located at Stacks 33, 45, 40 and 28, the take-up trend is pretty similar to the 1-bedders, differing just slightly. Price-wise, we’re looking at $1.41X- $1.68X mil, with prices jacked up for the south-facing units Stacks 40 and 28 almost $100k more than the north-facing ones.

2-Bedroom Premium










Sized at 689 sq ft, 721 sq ft and 732 sq ft, BP1 is the dumbbell layout with a short entryway and upgraded with an extra bath. Do note that for Bedroom 2, the bath isn’t an ensuite. For the BP2 layout, the rooms and bathrooms are given its own corridor. Both the bedroom and master can enjoy similar views as the balcony. The difference between BP2 and BP3 is the entrance; BP3 gives more privacy as the door is wall-facing, compared to BP2 which has a direct flow into the living area. BP1 is located at Stacks 35 and 43 while BP3 is located at Stacks 32 and 46.

BP2 is located at Stacks 30 and 38, which are the south-facing stacks. The take-up rate is healthier than the smaller layouts, BP1 and BP3, which are competitively priced from $1.54X-1.82X mil. We would like to highlight that with a budget of $1.61 mil, you have the choice between a 2-bedroom unit at Stack 40’s 46th floor, 2-bedroom premium units at Stack 35’s 52nd level, and Stack 32’s 37th floor. They’re basically the same price. Which do you think is a better choice?

Here’s a nugget: Stack 32 and 46 are corner units, so there’ll be a tad bit more privacy for these stacks.




The penthouse is located at the top floor of North-facing stacks 32 and 46. 883 sq ft. It has an additional high ceiling of the living and dining area; the only observable difference from the standard BP3. That, and pinnacle views of Singapore’s city centre. Price-wise, it’s going at $1.82X mil.





A more comprehensive layout and probably one that is more suitable for families, the 947 sq ft opens with a private entryway. The space is then directed to the living and spacious balcony area, with the dining area able to sit up to 6 or even a 7-seater. The fridge area can fit up to a 2-door fridge, and segues to the kitchen space. A corridor leads to the bedrooms, and master, with all the bedrooms enjoying the same direction as the balcony.

The $1.89X-$2.28X mil is the price quantum range, although compared to the 2-Bedroom Premiums, you are paying almost $400k for a larger living and dining area and an extra room.




The penthouse version is at 1120 sq ft, with the extra height for the living space. It is going at $2.28X mil, and there are only two units available.

3-Bedroom Premium




At 1,109 sq ft, both stacks 27 and 41 are south-facing. A concealed doorway directly leads to the dry and wet kitchen, and a WC. The dry kitchen features enough space for a fridge and a large wine chiller. Facing towards the six-seater dining, the spacious living and balcony area is rectilinear. A corridor leads to the store, shared bath, two spacious bedrooms and the master and ensuite.

Layout-wise, you’ll realise that the difference between a premium and normal 3-bedder, is the WC and Store addition. But developers usually pair the Premium layouts with better facing stacks. Here, CP1 units faces the south at Stacks 27 and 41, but with a price tag ranging from $2.39X-2.70X mil.




Stack 27’s penthouse unit was snapped up, but there’s still one more left at Stack 41. With a livable space of 1,302 sq ft, it is going for $2,70X mil. Keen for it? Don’t forget that PropertyLimBrothers is here to help.

4-Bedroom Premium







At 1,496 sq ft, the comprehensive layout features a private lift. From the entrance, the home has two corridors, one leading to the private bedroom and bathroom areas. The master has a commendable walk-in wardrobe. The living room layout is smartly configured, enabling the family to enjoy balcony views from both the living, dry kitchen, and dining area. Beyond is another bedroom, facing a shared bath, while the other corridor leads to the wet kitchen, yard, store, and WC.

Our opinion is that overall, we do love the ventilation for the wet kitchen, and from the looks of it, the possibility for cross ventilation for the layout.

Price-wise, the 4-bedder is starting from $2.64X mil, with some of the lower Stack 37 being a tad cheaper than the Stack 31 counterpart due to pool facing. The price range moves up all the way to $3.39X mil, culminating to our final penthouse unit, which features a double-height ceiling. One has been already been snapped up, making the last penthouse well, limited edition.

Comparative Analysis

Avenue South Developer Selling Prices courtesy Squarefoot


Avenue South Developer Selling Prices courtesy Squarefoot

From this trend, we can notice a gradual drop for the higher PSF, we can expect a possible revision of prices for the larger units like the 4-bedders, due to a slow take-up rate?

There are two key residences to compare against Avenue South Residences. Let’s check them out.

Highline Residences

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Completed in 2018, this 99-year leasehold resides in D03 at Kim Tian road, with 500 units at its belt.

Recently a transaction was made for a 3-bedder deluxe at that development.

Avenue South’s CP1


Avenue South’s CP1

Highland Residences’s C3


Highland Residences’s C3

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From the layout, the Avenue South features a larger balcony, and more importantly, both bedrooms can fit in queen beds easily, whereas Highline Residences indicate super singles. We assume it is possible, but the surrounding bed space will be really tight. But inversely, you have a really spacious master.

From the comparison, notice how Avenue South does have a larger square feet size, but with $164k, a brand new apartment compared to (by-then) a 5-years old apartment, accessible to the green corridor and elaborate facilities, and assuming you prefer a higher floor, the comparison sways us toward Avenue South on the 28th floor.

Let’s compare a smaller unit.

Avenue South’s A1


Avenue South’s A1

Highline Residence’s 1-Bedroom A(m)


Highline Residence’s 1-Bedroom A(m)

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While Highline Residences adopts an open concept, merging the bedroom, living and dining areas, Avenue South, with 27 sq ft extra, utilises a more common and reliable layout. It also comes with a wider balcony than Highline’s A(m) version, which is preferably more functional.

Price-wise, Avenue South still is priced at $53k more, and for the similar reasons as stated above, Avenue South Residence might be a better option. Furthermore, witnessing future developments such as The Greater Southern Waterfront and Keppel, Avenue South has a solid tenant pool.

Sky Everton

Sky Everton is another new development, aimed to be completed in September 2023.

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A smaller development at 262 units nearby at Bukit Timah, the tenure is of a freehold status, developed by SL Capital (Sustained Land with Ho Lee Group and Group CEO of CWT Kurt Joseph Ekert). Sited within the Spottiswoode enclave, the upside is the walkable accessibility to Outram Park MRT Station. Compared to Avenue South’s sheer land size of 245,975 sq ft, Sky Everton is 72,065 sq ft.

Avenue South’s C1


Avenue South’s C1

Sky Everton’s C1


Sky Everton’s C1


Comparing both layouts, we can roughly gauge how similar the 3-bedders are, less for Avenue South’s larger bath. But the main point is although the size and typology of the units are very similar (even down to the floor of the unit), but check out the price, where you’re paying almost $300 PSF more for Sky Everton. Surely a Freehold status isn’t worth that much of a price hike? But to be fair, Avenue South is in District 03, whereas Sky Everton is sited closer to the CBD at District 02.

Avenue South’s DP1


Avenue South’s DP1

Sky Everton’s D1


Sky Everton’s D1

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The C1 comparison is not unique; it’s the same across the board, just like the 4-bedders, which is nearly $800k difference from Sky Everton’s.

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But the real question you need to decide is whether a freehold is worth that much, and if you’re looking for investment, will you be able to get a return of investment equal or greater to that price. The common mindset that Freehold is far superior than a 99-years leasehold. But we have seen from previous developments how the take-up rate is so healthy for the 99-years tenure. Will ideals that forever homes to be passed down to the next gen be diminished? Trends are certainly proving that.

Smaller modern layouts means keeping the PSF low, which lowers the price quantum of units. This improves the affordability , but for a 99-year leasehold, you will be encouraged to sell off your unit, rather than keep it for your children. The surrounding cityscape hurtles with change, and it will be wise to stay ahead of the curve.

Tenant Pool

99-years or Freehold isn’t a consideration of tenants, which is why Avenue South is priced accurately for investment.

Top Rental Volume in District 03, less than 5 years courtesy Squarefoot


Top Rental Volume in District 03, less than 5 years courtesy Squarefoot

These top 5 projects are running at a decent share, with healthy averages between $4.4-5.24 PSF PM. In terms of volume and unit spread, Avenue South might be the top running for this list when the development is completed.

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Master Plan/Future Developments – Greater Southern Waterfront

Capital appreciation is always dependant on a development’s location, and considering Greater Southern Waterfront (GSW), the locality is slated for a massive facelift. Avenue South is located just on the fringe of this master plan and the CBD area. Affording a lower benchmark allows for more affordable rentals, attracting its own fair share of tenants.

Announced in 2013, GSW is a 30km coastline from the Marina East to Pasir Panjang. It is of a gargantuan scale: 2,000ha of land, six times of Marina Bay. Keppel Club’s lease will be expiring in 2 years’ time, and in place, will be 9,000 BTO units and high-end condominiums that will form a new residential precinct.


A continuous waterfront promenade will line the developing stretch, with a green corridor labelled Pasir Panjang Linear Park that connects West Coast Park and Labrador Nature Reserve. This will be connected to Mount Faber that is due for enhancements to the cable car experience as well.

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That’s just the start. The Pasir Panjang Power District will be an attractive spot to celebrate Singapore’s rich industrial heritage. Discussions are still underway.

Thomson East Coast Line

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GSW will be served by three new Circle Line Stations, namely Prince Edward, Cantonment and Keppel MRT stations. These are set to be completed by 2025, though with the pandemic slowing productivity over last year, we expect a slight delay.

The development will be in phases, completing within the next 5-10 years, and to refresh your memory, Singapore’s Prime Minister Lee Hsien Loong compiled this in his speech on this development in 2019.

Sentosa-Brani – New and rejuvenated

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PSA will be vacating Pulau Brani, a small island location currently used for Brani Terminal. Here, it is earmarked for NTUC to create entertainment attractions similar to its neighbouring bigger brother, Sentosa Island (word on the street is a Universal Studios II). Coined as Downtown South, the 9,000ha of land will also feature resorts, private & waterfront houses and green co-working spaces.

Since 2019, not much news have been announced, but we’re sure Sentosa is going to be upgraded with grandiose plans. RWS mentioned about Minion Parks, Super Nintendo World, and a rebranding of the S.E.A. aquariums, while a Sentosa Sensoryscape will be revitalising and connecting the Sentosa beaches. For more details on the development, you can check it out in Today’s coverage here.

Overall, from these upgrades within the vicinity, and its close proximity to the Tanjong Pagar/Cantonment area, we will expect the rentability to be strong for Avenue South.

Exit Strategy

Should homebuyers wait for CBD to be fully rejuvenated before pulling the trigger? Will HDB upgraders around the Bukit Merah and Bukit Purmei Rd be keen?

If that aren’t the questions within your head prior to a purchase for Avenue South, it’s always important to check out on when is the best time to sell off your property, and who are your target buyers.

Historical Transaction Prices and Volume for District 03 courtesy Squarefoot


Historical Transaction Prices and Volume for District 03 courtesy Squarefoot

From this graph, District 03 is gaining momentum on the transactions of units with a rising $PSF.

District 03, Top 5 5-year capital Gain courtesy Squarefoot


District 03, Top 5 5-year capital Gain courtesy Squarefoot

Take note that the top 5 performing developments within District 3, based on a 5-year capital gain, are made up of 99-year leaseholds and freeholds. We can assume that Avenue South will follow suit, and bringing its modernity and towering blocks, might sway buyers towards this development.

For HDBs around the area, there hasn’t been new HDBs around the precinct, probably due to the dominating private houses. However, we can take interest in the surrounding condominiums. The table includes non-landed homes within a 1.5km radius. For more information on deciphering which owners will be keen in purchasing Avenue South, do contact PropertyLimBrothers here.



The locality of the project has been a steady and reliable district, and as one of the first developments to capitalise on the southern views from afar, we have no doubt that interest for this project will continue post-COVID, during the development of the Greater Southern Waterfront and the Sentosa-Brani facelift. Down the line, Avenue South buyers will benefit from the CBD and Tanjong Pagar plans slated for future upgrades as well, and we can’t wait to see what else the south side of Singapore has in store.

Thank you for reaching the end of the article. Avenue South is left with the upper echelon of units, and we still feel these will be a great buy, depending on what you are looking for. Do reach out to us here, and we hope you’ll join us for our next article. Or the next.


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