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# Union Square Residences: Is A 3% Yield Worth The Entry?
- URL: https://www.mychoicehomez.com/union-square-yield-reality/
- Published: 2026-08-19T04:45:10.000Z
- Updated: 2026-08-23T13:32:19.000Z
- Description: Real rental comparables from Havelock and Robertson Quay, run against Union Square's likely entry price — what the gross yield actually looks like.
- Author: James Ong
- Tags: New Launch, CCR, Investor Analysis

**Part 4 of 7, Union Square Residences: The Complete Analysis**

[↑ Back to full review](https://www.mychoicehomez.com/union-square-review/)  
[Part 1: The Price Floor](https://www.mychoicehomez.com/union-square-price-floor/) · [Part 2: The Floor Plan Trap](https://www.mychoicehomez.com/union-square-floor-plan-trap/) · [Part 3: The Pricing Test](https://www.mychoicehomez.com/union-square-pricing-test/) · Part 4: The Yield Reality · [Part 5: The Spine](https://www.mychoicehomez.com/union-square-spine/) · [Part 6: The Exit](https://www.mychoicehomez.com/union-square-exit/) · [Part 7: The Management Reality](https://www.mychoicehomez.com/union-square-management-reality/)

Every agent selling Union Square Residences will point to the rental catchment, Raffles Place, the CBD, the river precinct, three MRT lines. None of them will run the actual gross yield math against what comparable Havelock and Robertson Quay addresses are renting for today.

**Direct Answer**  
Nearby comparables, River Place on Havelock Road, Up@Robertson Quay, The Quayside. Are renting in the $5.39–$6.69 psf per month range, based on listings from May 2026\. Applied to Union Square's likely entry-tier pricing, that works out to a gross yield in the low-to-mid 3% range, with rental growth scenarios through the 2028 TOP window ranging from flat (0% p.a.) to a 3% p.a. upside case. That's a defensible District 1 mixed-use yield, not a standout one. The thesis here is tenant stability and capital preservation, not cash flow.

- **Comparable Rental PSF:** $5.39–$6.69/month
- **Rental Growth Scenarios (to 2029):** 0% to 3% p.a.
- **MRT Lines Within Reach:** NE5, DT20, DT19/NE4
- **TOP:** 2028

## What the Market Is Telling You

Union Square Residences sits within walking distance of Clarke Quay (NE5), Fort Canning (DT20), and Chinatown (DT19/NE4). Three MRT lines inside a ten-minute walk, a rare combination outside the CBD fringe itself. That catchment draws tenant demand from Raffles Place, the broader CBD, and the river precinct's own professional and expatriate rental pool. Nearby comparables give a real read on what that translates to in dollars: River Place on Havelock Road, Up@Robertson Quay, and The Quayside at Robertson Quay are currently renting in the $5.39–$6.69 psf per month range, based on May 2026 listings. A 2-bedroom at 60 Havelock Road renting for $6,500/month ($6.19 psf), a 4-bedroom at 60 Robertson Quay for $8,700/month ($5.39 psf), and 1-bedrooms at 48 Robertson Quay renting between $4,200 and $4,500/month.

## What the Market Isn't Telling You

The rental catchment story is real, but it's not the whole picture. Rental growth projections through the 2028 TOP window span a wide range. A downside scenario of flat rents (0% p.a.), a base case of 2% p.a. growth, and an upside case of 3% p.a. Most marketing material leans on the upside case implicitly by quoting today's comparable rents against tomorrow's purchase price, without stating which growth assumption is doing the work. Run the base case, not the upside case, when you're deciding whether the numbers work for you.

The other layer that matters for a mixed-use, conservation-zone address like this: MCST fees will run higher than a standalone condo (covered in full in Part 7, The Management Reality), and that cost sits on top of your gross yield before you get to a net figure. A gross yield in the low-to-mid 3% range can compress meaningfully once mixed-use maintenance costs and property tax are factored in. This is a capital-preservation and tenant-stability play in a conservation-protected corridor, not a high-yield investment vehicle, and the numbers should be read that way from the start.

## What James Thinks You Should Do

Model your yield off the base-case 2% p.a. rental growth scenario, not the upside case, and factor mixed-use MCST fees into your net figure before comparing this to any other CCR or RCR opportunity. If a low-to-mid 3% gross yield with strong tenant-demand fundamentals and TOP-2028 capital preservation potential fits your goal, the numbers here are defensible. If you need cash flow now, this isn't the play. A yield-focused buyer is better served elsewhere, and I'd tell any client that directly regardless of which project they're asking about.

**James's Note**  
I run the same caution on any CCR purchase for a yield-focused buyer: gross yield at an adjusted quantum reads better than gross yield at full price, and neither tells you the net number once MCST fees and property tax are in. Union Square's rental catchment is genuinely strong. Three MRT lines and CBD-fringe demand are real advantages. But strong catchment and strong yield are two different claims, and only one of them is fully supported by the numbers.

## Frequently Asked Questions

**What rental yield can I expect from Union Square Residences?**  
Based on comparable Havelock and Robertson Quay rentals ($5.39–$6.69 psf/month) against likely entry pricing, gross yield lands in the low-to-mid 3% range. Defensible for the corridor, not a standout figure.

**What rental growth should I assume through TOP in 2028?**  
Published scenarios range from flat (0% p.a.) to 3% p.a. upside, with a 2% p.a. base case. Model off the base case rather than the upside when deciding if the numbers work for you.

**Which nearby projects are the best rental comparables?**  
River Place on Havelock Road, Up@Robertson Quay, and The Quayside at Robertson Quay. All within the same MRT catchment and conservation-zone corridor.

**Does the tenant catchment justify the entry price?**  
The catchment is genuinely strong, Raffles Place, CBD, and river-precinct demand across three MRT lines. But catchment strength and yield strength are separate claims; this is a stability play, not a high-yield one.

**Should I factor in MCST fees when calculating net yield?**  
Yes. Mixed-use developments like Union Square carry higher MCST fees than a standalone condo (see Part 7, The Management Reality), and that cost meaningfully compresses gross yield once accounted for.

**Run Your Own Yield Numbers**  
Want the actual net yield math run against a specific stack and rental scenario, MCST fees included? I'll work through it with you directly. No pitch, just the working.  
[WhatsApp James. Wa.me/6591111173](https://wa.me/6591111173?ref=mychoicehomez.com)

Sources\+ Show all 5 →− Hide
- PropertyGuru Singapore — Union Square Residences: Rental Yield Projections 2026–2029
- PropertyGuru / 99.co — River Place, Up@Robertson Quay, The Quayside Rental Listings, May 2026
- LTA — Clarke Quay (NE5), Fort Canning (DT20), Chinatown (DT19/NE4) Station Data
- URA Realis — Private Residential Rental Contracts
- PropNex Research — District 1 Rental Demand and Tenant Catchment Analysis
Disclaimer & Licensing+

This article is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Property investments involve risk. Past performance is not indicative of future results. Readers should seek independent advice from licensed professionals before making any property or financial decision. James Ong is a licensed real estate salesperson (CEA Reg No. R008385F) with PropNex Realty Pte Ltd and is not a licensed financial adviser.

James Ong | CEA Reg No. R008385F | PropNex Realty Pte Ltd