Project Spotlight: Sea Views, MRT, Million-Dollar Profits — The Seaside Residences Story
Seaside Residences’ close proximity to East Coast Park gave it a boost to the top of the price chart for 99-year leasehold OCR condos. (Photo: Samuel Isaac Chua/EdgeProp Singapore).
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At the time of writing, Seaside Residences has achieved the highest average resale price among all 99-year leasehold condos in the Outside Central Region (OCR) this year. Further analysis of its price trend reveals that this has been the case since 2021.
So far this year, Seaside Residences has achieved an average resale price of $2,327 psf, significantly higher than the national average resale price of $1,605 psf for 99-year leasehold condos in the OCR. Seaside Residences’ average resale price is also 9.9% higher than that of the second-ranked Parc Clematis ($2,118 psf) (see Table 1).
Notably, all 10 condos in Table 1 recorded average resale prices above $1,900 psf, but only Seaside Residences, Parc Clematis, The Panorama and Forest Woods have average resale prices exceeding $2,000 psf.
Strong price growth since launch
During its launch weekend in April 2017, 392 units at Seaside Residences were sold. Based on the 560 units released for sale, this represented a take-up rate of 70%. Since then, the average price of the condo has risen by 35.2% to $2,327 psf (see Chart 1).
EdgeProp Market Trends
The strong price growth achieved by Seaside Residences since its launch has likely contributed to its high average resale price. This is despite Seaside Residences having the highest average launch price among the 10 condos listed in Table 1.
Notably, nine out of the 10 condos have achieved price growths of at least 30% since their launch, with Midwood being the sole exception (see Table 2).
Long remaining lease
There are several factors that could have contributed to the high average price of Seaside Residences. One is its long remaining lease of approximately 90 years, as the land lease for this 99-year development started in 2016.
Seaside Residences is also a relatively new development, having obtained its temporary occupation permit (TOP) in 2021, making it only four years old. Its youth and long remaining lease help to keep lease decay at bay.
Notably, most of the condos in Table 1 are less than 10 years old. Centro Residences is the lone exception, having obtained its TOP in 2014 which makes it 11 years old. Despite this, Centro Residences still commands high prices due to its close proximity to Ang Mo Kio MRT Station, Ang Mo Kio Bus Interchange, and Ang Mo Kio Hub.
Well-connected location
Given Seaside Residences’ close proximity to Siglap MRT Station on the Thomson-East Coast Line (TEL), the opening of this MRT station has definitely improved the condo’s connectivity (see Map 1). Siglap MRT Station opened in 2024 as part of Phase 4 of the TEL, directly connecting the East Coast neighbourhood to the northern and central regions of Singapore. Furthermore, the East Coast Parkway is a short drive away.
Source: EdgeProp LandLens (as at 6 August 2025)
The opening of Siglap MRT Station in 2024 resulted in a surge in demand for Seaside Residences that year. The resale volume for the condo increased from 25 units in 2023 to 47 units in 2024. This year’s resale volume looks set to surpass 2023, with 25 units already sold at the time of writing (see Chart 1).
It was recently announced that the TEL and the future Cross Island Line will be extended to Changi Airport Terminal 5. The enhanced connectivity might bring further price increases for Seaside Residences.
Proximity to amenities
Besides being within walking distance of Siglap MRT Station, Seaside Residences is also within walking distance of Victoria School, East Coast Park, and East Coast Seafood Centre. Other amenities within a 1km radius include Siglap V, Victoria Junior College, and East Coast Lagoon Food Village.
The condo’s close proximity to the East Coast allows many residents to enjoy unblocked sea views and easy access to the beach (see Map 2). Sea views and access to nature are highly desired by many homebuyers, who are often willing to pay more for homes with such features.
Source: EdgeProp LandLens (as at 6 August 2025)
Something for everyone
Seaside Residences features 841 units comprising a mix of one-bedroom units to five-bedroom penthouses (see Table 3). Among the different unit types, the two-bedroom units (29%) account for the majority. Given the shrinking household size in Singapore, such units are the ideal size for most families, offering a good balance between affordability and their desire for space.
Additionally, the condo features seven different unit styles. Suites are compact one-bedroom or one-bedroom-plus-study units with an open layout, while Trio units are two-bedroom dual-key units. Viva comprises two-bedroom and three-bedroom units with excellent views of the sea or lush landscaping, coupled with separate living and dining areas. Vantage units offer two-bedroom or three-bedroom-plus-study layouts with excellent views of the sea or nearby landed houses, with an emphasis on cross ventilation. Larger households will prefer Vista or Prive units, as both offer four bedrooms; the main difference is that Prive units include a private lift. The condo also features three penthouse units, each with five bedrooms.
Nearby 99-year leasehold development are much older
There are four condos within a 500m radius of Seaside Residences. Like Seaside Residences, Mandarin Gardens and Villa Marina are 99-year leasehold condos, but Fernwood Towers and Finland Gardens have freehold tenures. Extending the radius to 1km, 32 condos fall within this distance, but only Neptune Court, Lagoon View and Laguna Park are 99-year leasehold developments.
Among the leasehold condos, Seaside Residences is not only the newest but also the only condo that obtained its TOP after 2000 (see Table 4). Hence, its neighbours have significantly shorter remaining leases, which implies their prices will be negatively impacted by lease decay. This could explain why Seaside Residences is the only leasehold condo in the neighbourhood whose average resale price has crossed the $2,000 psf threshold.
Buyers keen to purchase property in the neighbourhood must choose between affordability and a long remaining lease. Seaside Residences will appeal to buyers who prefer a longer remaining lease and are willing to pay for it. Furthermore, Seaside Residences only obtained its TOP in 2021, so it has experienced less wear and tear compared to its significantly older neighbours.
High prices contributed to strong profitability
The higher prices achieved by Seaside Residences resulted in 181 profitable transactions, with profits ranging from approximately $8,000 to $1.292 million. Additionally, there are only two unprofitable transactions for the condo, with approximate losses of $65,000 and $120,000.
Thus far, only two transactions have generated million-dollar profits. The transaction that generated the record-high profit of $1.292 million was concluded in April 2024, while the transaction resulting in the second-highest profit of $1.17 million took place in September 2023. This year’s highest profit of approximately $987,150 is ranked third (see Table 5).
While the sellers of all three units sold them at different times, all of them bought their units from the developer in April 2017.
The seller who earned the highest profit of $1.292 million bought their 1,733-sq ft unit for $2.928 million ($1,690 psf) and sold it for $4.22 million ($2,435 psf).
The unit involved is a four-bedroom Prive unit on the 17th storey with a family-friendly layout. It has an en-suite master bedroom with a walk-in wardrobe, an en-suite junior master bedroom, two additional bedrooms, and a common bathroom. The unit also features wet and dry kitchens, with an adjacent utility room, washroom, and storeroom. Additionally, the unit has a private lift and a spacious balcony (see Floor Plan 1).
Source: EdgeProp Research
Meanwhile, the seller who achieved this year’s highest profit of $987,150 sold their unit for $3.18 million ($2,638 psf) and bought it for $2.193 million ($1,819 psf).
Located on the 22nd storey, the 1,206-sq ft three-bedroom Prive unit features an en-suite master bedroom with a walk-in wardrobe, two additional bedrooms, and a common bathroom. There is also a utility area, a washroom, and a storeroom near the kitchen. Additionally, the unit includes a private lift and a balcony adjacent to the living area (see Floor Plan 2).
Source: EdgeProp Research
Conclusion
Seaside Residences stands out for having the highest average resale price among 99-year leasehold condos in the OCR since 2021. Factors that have contributed to its stellar price performance include strong price growth since its launch in 2017 and proximity to numerous amenities, including Siglap MRT Station and East Coast Park. Furthermore, the condo offers many different unit layouts, ensuring there is a suitable option for all buyers regardless of their housing requirements. Finally, the nearest 99-year leasehold condos near Seaside Residences are mainly older developments, making it the only option for buyers who prefer newer properties.
Given its high resale prices and strong price growth, it is hardly surprising that Seaside Residences has chalked up 181 profitable transactions at the time of writing. Among these profitable transactions, two generated million-dollar profits for their sellers. However, both transactions did not take place this year. The record-high profit for this year is ranked third, clocking in at approximately $987,150.
Check out the latest listings for Seaside Residences, District 15 properties
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