Vela Bay, the 515-unit condo in Bayshore by SingHaiyi Group and Chuan Capital, is an interesting test case for the new, up-and-coming Bayshore precinct in the East Coast.
For decades, this part of the seaside area has only had three condo developments on one side, and the Lucky Heights landed estate on the other. So the first government land sale site that was released by the government in April 2025 set a new record.
The SingHaiyi-led joint venture submitted the top bid of $658.9 million for the plot, which translates to a land rate of $1,388 psf per plot ratio (ppr), a record at the time. This did not turn out to be an overreach by the developers.
There have been several Build-To-Order developments which the government has launched in Bayshore, and they have all been classified under the Plus category. This reinforces that the government is intent on developing Bayshore into a major mixed-use waterfront precinct.
When you factor in the appeal of seafront living, it’s easier to understand the developer’s confidence. And this paid off when the development sold 72% of its units during its sales launch over the April 25/26 weekend. The condo also set an average selling price of $2,886 psf.
In this Stacked Pro dive, we’ll weigh up where Vela Bay’s pricing currently stands, and what prospective buyers can expect. You can read our full review of the project here.
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Pricing snapshot for Vela Bay
This is the known developer pricing average as of May 2026.
| Unit type | Size (sqft) | Minimum price for available units as of 27/04/2026 |
| 1 Bedroom | 484 | $1,354,000 |
| 2 Bedroom | 592 – 678 | $1,547,000 |
| 3 Bedroom | 883 – 1033 | $2,314,000 |
| 4 Bedroom | 1173 – 1376 | $3,192,000 |
| 5 Bedroom | 1582 | $4,543,000 |
Note that the two-bedders are still kept to a quantum of below $1.6 million, a move to keep units palatable to most HDB upgraders.
Who is Vela Bay aimed towards?
| Likely buyer profiles | Less suitable for |
| Own-stay buyers can appreciate beachfront living, and who will probably make active use of the short walk to East Coast Beach | Pure investors focused on maximising ROI – given the higher entry $PSF due to the land price, significant appreciation may take longer. |
| Buyers seeking alternatives to existing high priced enclaves, such as Katong and Marine Parade | Buyers who want the large, liveable spaces of older developments in the East, as Vela Bay is built to newer and more efficient (but compact) standards |
| Buyers who don’t mind that the surrounding area will become a lot denser in the near future | The Bayshore area is quiet and highly private now, but this will change once the HDB enclave is built |
Now let’s take a quick look at the performance of condos in District 16, where Vela Bay is located.
This will help to frame the expected performance within this area. For now, we’ll include all transaction types, both new and resale.
All tenures
| Year | D16 | All non-landed private properties |
| 2015 | $1,136 | $1,180 |
| 2016 | $1,160 | $1,232 |
| 2017 | $1,205 | $1,304 |
| 2018 | $1,182 | $1,435 |
| 2019 | $1,110 | $1,560 |
| 2020 | $1,123 | $1,513 |
| 2021 | $1,185 | $1,600 |
| 2022 | $1,414 | $1,712 |
| 2023 | $1,588 | $1,869 |
| 2024 | $1,535 | $1,886 |
| 2025 | $1,691 | $2,092 |
| Annualised | 4.05% | 5.90% |
99-year leasehold
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