Bayshore, TEL to boost East Coast appeal
The 906-unit Costa Del Sol (left) is next to the 1,038-unit The Bayshore (right). Nearby, the upcoming Vela Bay will sit adjacent to Bayshore MRT Station. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The East Coast neighbourhood has always been a popular residential enclave, especially among those who value breathtaking sea views from their homes. With the recent announcement of the Bayshore Master Plan, condos along the East Coast are expected to attract greater attention and demand from buyers. In addition, the expected completion of the entire Thomson-East Coast Line (TEL) this year will provide residents of this previously underserved neighbourhood with better connectivity via the MRT network.
Bayshore Master Plan
Under the latest Master Plan, the East Region will be anchored by three mature towns, namely Bedok, Tampines and Pasir Ris. As part of Singapore’s decentralisation plan, Tampines was designated as Singapore’s first Regional Centre. A wide range of shops, offices, community spaces and public transport nodes can be found in the regional centre.
Apart from Tampines Regional Centre, other major job nodes in the region include Expo, Changi Business Park, Changi Aviation Park and Changi Airport.
The East Region will also feature ‘Long Island’, which is expected to enhance Singapore’s flood resilience by protecting its low-lying areas. Located off East Coast Park, the reclaimed island is expected to span about 800ha and could potentially provide a new waterfront park as well as waterfront homes. It was recently announced that the government plans to conduct preparatory works, such as the removal of seabed obstructions, ahead of the main reclamation works.
Bayshore is a new precinct in the East Region. Measuring 60ha, it is expected to provide 12,500 new homes, comprising a mix of private and public dwellings. Homes will be planned around courtyards that will function as community spaces.
Another key feature of this new precinct is a 1km-long main thoroughfare along Bayshore Street. Shops, restaurants, grocery stores, as well as childcare and eldercare facilities, are expected to line this street.
There are also plans for a new landscaped bridge across East Coast Parkway. This upcoming pedestrian bridge will connect Bayshore’s residents directly to East Coast Park, bringing nature and the sea nearer to their doorstep.
Impact of TEL on homes along the East Coast
The precinct will be well served by the Bayshore and Bedok South MRT stations on the TEL (see Map 1). While Bayshore MRT Station is already operational, Bedok South MRT Station is expected to be completed later this year.
Map 1: Locations of Bayshore subzone, and Bayshore and Bedok South MRT stations
Source: EdgeProp LandLens
Stages 1 and 2 of the TEL run from Woodlands North to Caldecott and serve the North Region. Stage 1 was completed in 2020, while Stage 2 was completed a year later. Stage 3 serves the Central Region from Stevens to Gardens by the Bay, while Stage 4 serves the East Coast, stretching from Tanjong Rhu to Bayshore. Stages 3 and 4 were completed in 2022 and 2024, respectively. Only Bedok South and Sungei Bedok MRT stations remain under construction but both are expected to be completed later this year.
Stage 4 of the TEL features eight MRT stations, although Founders’ Memorial MRT Station has yet to open because it will commence operations in tandem with the completion of the Founders’ Memorial. The other seven stations in Stage 4 are Tanjong Rhu, Katong Park, Tanjong Katong, Marine Parade, Marine Terrace, Siglap and Bayshore (see Map 2).
The TEL has provided better connectivity for residents living near its stations, particularly those near the East Coast. Prior to the completion of Stage 4, the area was underserved by the MRT network.
Map 2: Thomson-East Coast Line
Source: Land Transport Authority
Condos near Tanjong Rhu MRT Station
Among the seven operational MRT stations along Stage 4 of the TEL, only Tanjong Rhu, Katong Park, Marine Parade, Siglap and Bayshore have completed 99-year leasehold condos within a 500m radius. Tanjong Rhu and Siglap stations have the highest number, with six and four such developments, respectively. In contrast, Katong Park Station features only the recently completed LIV @ MB.
The six completed 99-year leasehold condos within a 500m radius of Tanjong Rhu MRT Station are Camelot-by-the-Water, Casuarina Cove, Pebble Bay, Sanctuary Green, Tanjong Ria Condominium and Water Place (see Table 1). All six are located along Tanjong Rhu Road in District 15.
Source: EdgeProp Research
Among them, Sanctuary Green and Water Place are the newest, having obtained their Temporary Occupation Permits (TOP) in 2004. Water Place is adjacent to Tanjong Rhu MRT Station, while Sanctuary Green is located next to Water Place (see Map 3). Both developments are also a short drive from the East Coast Parkway.
Map 3: Locations of Water Place, Sanctuary Green and Tanjong Rhu MRT Station
Source: EdgeProp LandLens (as at April 14)
The close proximity of Water Place to the MRT station could explain its strong price growth of 59.1% since 2020, reaching $1,992 psf (see Chart 1). In comparison, the average resale price of Sanctuary Green increased by a smaller 24.7% over the same period to $1,556 psf.
Since Tanjong Rhu MRT Station opened in 2024, the average resale price of Water Place has risen by 12.3%, while that of Sanctuary Green declined by 4.8%, underscoring the positive impact that proximity to an MRT station can have on housing prices.
Chart 1: Average resale prices for Water Place and Sanctuary Green
Source: EdgeProp Market Trends (as at April 14)
In February, a tender for a Government Land Sale (GLS) site along Tanjong Rhu Road was awarded to a joint venture comprising City Developments and Woh Hup. They submitted the top bid of $709.3 million ($1,455 psf ppr). The site is located approximately 700m away from Tanjong Rhu MRT Station. The developers are expected to build a condo with 520 units across three 26-storey residential towers.
Condos near Siglap MRT Station
The four completed 99-year leasehold condos within a 500m radius of Siglap MRT Station are Lagoon View, Laguna Park, Seaside Residences and Villa Marina (see Table 2). All are located in District 15.
Source: EdgeProp Research
However, only Laguna Park and Lagoon View are along Marine Parade Road. They are also significantly older, having obtained their TOP before 1980. Laguna Park is located adjacent to Siglap MRT Station and Lagoon View is next to Laguna Park (see Map 4). Both condos are also a short drive from the East Coast Parkway.
Map 4: Locations of Laguna Park, Lagoon View and Siglap MRT Station
Source: EdgeProp LandLens (as at April 14)
The closer proximity to the MRT station could explain why Laguna Park’s average resale price has consistently trended above that of Lagoon View’s. This year, three resale transactions at Laguna Park averaged $1,129 psf (see Chart 2), while no transactions have been recorded for Lagoon View so far this year.
Last year, 22 units at Laguna Park were sold at an average price of $1,192 psf, compared to $1,120 psf for five units at Lagoon View.
Chart 2: Average resale prices for Laguna Park and Lagoon View
Source: EdgeProp Market Trends (as at April 14)
Housing options in Bayshore
Under the latest Master Plan, Bayshore has been designated as a new neighbourhood with plans for more housing, amenities and recreational facilities. Currently, Costa Del Sol and The Bayshore are the only completed 99-year leasehold condos within a 500m radius of Bayshore MRT Station.
Notably, both developments are over 20 years old. Costa Del Sol obtained its TOP in 1996, while The Bayshore obtained its TOP in 2004 (see Table 3). Located along Bayshore Road in District 16, both are large developments with at least 900 units.
Source: EdgeProp Research
Despite being newer, The Bayshore has a significantly lower average resale price of $1,375 psf compared to $1,989 psf for Costa Del Sol (see Chart 3). Additionally, The Bayshore reported a weaker price growth of 42.3% since 2020 compared to that of 57% for Costa Del Sol.
Chart 3: Average resale prices for The Bayshore and Costa Del Sol
Source: EdgeProp Market Trends (as at April 14)
A likely reason is that Costa Del Sol faces East Coast Park, offering sea views to many of its residents. In contrast, The Bayshore is located behind Costa Del Sol, limiting such views for its residents (see Map 5).
Both developments are within walking distance of Bayshore MRT Station and the Bayshore Road GLS site, which was awarded in March 2025 to SingHaiyi, which submitted the highest bid of $659.89 million ($1,388 psf ppr).
Named Vela Bay, the upcoming condo is expected to comprise 515 units and is slated for launch on April 25. It is likely to attract strong interest from buyers due to the limited supply of 99-year leasehold condos in the area, as well as its proximity to Bayshore MRT Station and East Coast Park.
Map 5: Locations of The Bayshore (grey), Costa Del Sol (blue), Bayshore Road GLS site (purple) and Bayshore MRT Station
Source: EdgeProp LandLens (as at April 14)
Vela Bay is just one MRT stop away from the Bayshore Drive GLS site, which was launched for tender in March. The 99-year leasehold site is slated for a mixed-use development featuring about 1,280 condo units and approximately 242,190 sq ft of commercial space. The upcoming development will also be integrated with a bus interchange and Bedok South MRT Station. Market observers expect the GLS site to attract strong interest from developers as it will be an integrated development, which tends to appeal to buyers.
In October 2024, two Build-to-Order projects — Bayshore Palms and Bayshore Vista — were launched (see Table 4). Both projects fall under the Plus category due to their close proximity to Bayshore MRT Station. Schools within a 1km radius include Temasek Primary School, Temasek Secondary School and Temasek Junior College. All the different flat types from both projects were oversubscribed, highlighting the popularity of homes in the Bayshore neighbourhood.
Source: EdgeProp Research
Conclusion
East Coast is set to benefit from significant changes under the Bayshore Master Plan and the completion of the entire TEL. Improved connectivity, new housing supply and the introduction of more amenities are expected to further boost the area’s appeal to homebuyers.
At the same time, the limited number of completed 99-year leasehold condos near MRT stations in the East Coast, coupled with strong demand for homes with sea views, could continue to support price growth for such developments. Given its close proximity to Bayshore MRT Station and East Coast Park, the upcoming Vela Bay is also expected to attract keen interest from buyers.
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