"I spent my Saturday tracking the Vela Bay launch and the results are a wake-up call for those waiting for the market to 'cool'." said Kiwi Lim, Associate Group Director of PropNex Realty.
By 6 PM on 25th April 2026 - Vela Bay, developed jointly by SingHaiyi and Chuan Capital moved 371 units—that’s a 72% take-up rate out of the 515-unit development at an average of $2,886 PSF. For the first private launch in the brand-new Bayshore precinct, these numbers are significant.
One lucky Singaporean buyer even secured a 5-bedroom penthouse with that 180-degree sea view for $5.83M ($3,303 PSF). When people are willing to pay a $3,300 psf premium for sea view, you know the appetite for 'Trophy Assets' is alive and well.
The Bayshore precinct would be the one to watch in 2026, at an average of $2,886 psf, buyers weren't just looking at the price—they were looking at the Future.
More than half the units sold at Vela Bay enjoy sea views - an effective property inflation hedge. With more than 90% Singaporean buyers, the demand is domestic and deep. If you’ve been eyeing the East Coast, the 'Vela Effect' is going to ripple through the market this month.
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The stellar performance of Vela Bay marks a pivotal moment for 2026. Despite a backdrop of cautious global sentiment, buyers doubled down on the rare sea view units in the East Coast. The average launch price — which many previously thought was close to Rest of Central Region (RCR) pricing — has now set a new benchmark for 99 year leasehold Outside Central Region (OCR) properties.
Key takeaways from the ground:
- The Entry-Level Sweep: 1-bedroom-plus-study units (starting from $1.2M+) are almost entirely gone. Investors clearly see the rentability of this node.
- Family Dominance: We saw about 75% of the 3-bedroom units (from $2.2M) snapped up. This tells me that families are buying into the Bayshore 'lifestyle' vision for the long haul.
- Local Confidence: 90% of Vela Bay buyers are Singaporeans. This isn't speculative foreign money; this is local capital betting on the East Coast’s transformation.
- Scarcity: Projects with direct sea views in the East Coast are becoming 'Trophy Assets'.
- Confidence: Investors are shifting from shares volatility back to brick and mortar investments.
- The Move: Many of these buyers aren't looking at the psf—they are looking at the Asset Class.
Top bid Of $962 psf ppr for Dairy Farm Walk GLS site
"The 72% take-up rate at an average price of $2,886 PSF is a clear vote of confidence," says Kiwi Lim, Associate Group Director of PropNex Realty. "In an era where stocks ad digital assets are volatile, the 2026 investor is returning to the fundamentals: Scarcity, Sea Views and Strategic Connectivity with first mover advantage".
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