Vela Bay: Which East Coast Bayshore Condo Should You Consider in 2026?
The Bayshore enclave has, for most of the past two decades, been characterised by established resale condominiums with East Coast Park at their doorstep, but no new launches and until June 2024 — no MRT. That just changed. Vela Bay, the first new private condominium launch in Bayshore after 26 years, has a launch preview on 11 April 2026.
But how does it actually compare to what already exists? And is it a better buy for own stay or investment than its established neighbours?
The Four Properties at a Glance
The SML Trifecta: Why Schools, MRT, and Scale Matter
Singapore properties featuring near Schools, MRT and large development form a SML trifecta that increases the likelihood of desirability and appreciation. For the properties near Vela Bay:
Vela Bay is the only property in the Bayshore enclave that fulfills the SML trifecta. Temasek Primary School, which is within 1km, gives Vela Bay residents Phase 2A priority registration advantage. For families with young children, this may justify a premium.
Vela Bay and Costa Del Sol: New Launch Premium Justified?
Costa Del Sol is the Bayshore enclave's most popular resale condo. At ~$1,849 psf average and topping out at $2,102 psf, it is at a significant premium over The Bayshore; its layout is efficient, its block orientation maximises sea views, and its facilities remain well-maintained.
But consider that 29 year old Costa Del Sol's 99-year lease started in 1997. At 60 years of remaining lease bank financing and CPF usage tighterns. A Vela Bay buyer in 2026 starts fresh, with 99 years fresh lease and the Bayshore transformation to look forward to.
Verdict for own-stay: If your children are within P1 registration age, Vela Bay's has an advantage of being to 1km Temasek Primary. If you want to move in within the next few months without a 4-year wait and school priority is not a concern, Costa Del Sol remains a very liveable choice at lower upfront cost.
Vela Bay and Bayshore Park:
Bayshore Park (1,093 units, TOP 1986) is the oldest and largest development in the enclave. Completed nearly 40 years ago, it offers some of the most affordable per-square-foot entry points to Bayshore living — but at a price: the lease started in 1984, leaving approximately 58 years remaining. This creates financing constraints for buyers, CPF usage limitations.
For own-stay buyers who are not reliant on bank financing and have paid off prior loans, Bayshore Park offers enormous space at a price point. But for investment or for buyers relying on mortgages, a 58-year leasehold property is increasingly difficult to finance, and resale exit options narrow significantly over the coming decade.
Bayshore Park is also directly across Bayshore Road from Vela Bay — meaning Vela Bay residents can enjoy the same neighbourhood lifestyle while holding a fresh-title, MRT-adjacent asset. For HDB upgraders or existing Bayshore Park residents considering an asset upgrade, Vela Bay is the natural next step.
Vela Bay and Seaside Residences
Seaside Residences (D15, Siglap) is the most recent pre-Vela Bay new launch in the broader East Coast corridor — launched in 2017, fully sold by 2021, and now transacting at ~$2,166 psf on average. It is the benchmark that contextualises Vela Bay's indicative ~$2,500 psf pricing.
Seaside Residences is a quality development with a design-led approach, proximity to Marine Parade MRT (also TEL), and the Katong lifestyle belt as its backyard. However, it does not have a primary school within 1km, and its MRT access is a 10-minute walk rather than near doorstep. The distance from Changi Airport and Changi Business Park — key rental demand drivers for East Coast property — is also greater than Vela Bay.
The premium that Vela Bay will likely command over Seaside Residences' current resale levels is justified by: MRT proximity differential (~5 minutes walking vs doorstep), school and large development trifecta, the Bayshore precinct transformation upside, and a fresher lease. Also note that Vela Bay is a post harmonised project where spaces such as aircondition ledges are no longer part of the unit floor area.
The Big Picture: Bayshore's Transformation Story
New government-announced mega-projects create a compelling multi-year property investment case for the Bayshore–Bedok East corridor.
1. The Bayshore Precinct Masterplan
URA's 60-hectare Bayshore estate will deliver ~10,000 new homes, a new Bedok South MRT integrated development (malls + transport + F&B in one hub, 1 stop from Bayshore), a 1km pedestrian Transit Priority Corridor, and new cycling connectors linking directly to East Coast Park and the Round Island Route. Vela Bay is the first private residential plot released — developers are betting significant capital that subsequent plots will launch at higher prices, buttressing Vela Bay's entry value.
2. Changi Airport Terminal 5 — A New Employment Epicentre
Construction of Changi Airport Terminal 5 commenced in May 2025, with completion targeted for the mid-2030s. Designed to handle 50 million additional passengers annually, T5 is part of the 1,080-hectare Changi East development that includes a new runway, cargo complexes, and a ground transportation centre linking train, bus, and taxi. Once operational, T5 will dramatically expand employment at Changi Business Park, Changi East Urban District, and supporting industries — all within 5 TEL stops of Bayshore MRT.
For Vela Bay investors, T5 represents a multiyear-long expansion of the professional expat and Singapore-based PMET tenant pool — the demographic that drives rental demand for quality East Coast condominiums. District 16 already has some of the strongest rental demand in the eastern OCR due to Changi Business Park proximity; T5 strengthens that case.
Buyer Profiles: Who Should Consider Purchasing
Conclusion
Vela Bay is best value positioned as it combines a full 99-year fresh lease, doorstep MRT, Temasek Primary within 1km, SingHaiyi developer track record, and first-mover pricing in a government-masterplanned 60-hectare Bayshore precinct, Changi T5 and Bedok South Integrated Transport Hub. The best time to purchase the first launch in a new precinct is before new infrastructure is fully complete.
The New Launch Preview is on 11 April 2026. Register now to secure direct developer pricing before public sales.
Source: URA
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