Singapore’s East Coast neighbourhood is as popular as ever, and four names are synonymous with it: Vela Bay, Costa Del Sol, The Bayshore, and Bayshore Park.
These four properties are all nestled in the same, highly sought-after Bayshore neighbourhood, close to Bayshore MRT, countless recreational opportunities, and loads of green spaces.
So what sets each one apart from the others? In this blog post, we’ll take a closer look at these four condos through the eyes of a seasoned realtor and how they stack up against each other.
At A Glance
| Category | Vela Bay | Costa Del Sol | The Bayshore | Bayshore Park |
|---|---|---|---|---|
| Units | 515 | 906 | 1,038 | 1,093 |
| TOP Year | Est. 2030 | 2004 | 1997 | 1986 |
| Lease Start | 2025 | 1997 | 1993 | 1983 |
| Lease Remaining | 99 years (fresh) | ~70 years | ~65 years | ~55–56 years |
| Storeys | Up to 31 | Up to 30 | Up to 30 | 8–32 (mixed) |
| Land Size | ~112,992 sqft | ~200,000 sqft | ~250,000 sqft | ~700,000–800,000 sqft |
| Developer | SingHaiyi Group | Cheung Kong Holdings | Far East Organization | Far East Organization |
| Avg Resale PSF (2024) | N/A (new launch) | ~$1,728 | ~$1,349 | ~$1,300 |
| Est. Launch PSF | ~$2,100–2,400 | N/A | N/A | N/A |
Lease Position
Vela Bay starts with a clean 99-year lease. At the point of TOP, which is approximately 2030, it will have roughly 95 years remaining. There are no CPF withdrawal restrictions, no loan-to-value (LTV) constraints related to lease decay, and no depreciation discount that buyers apply when assessing older leasehold units.
Costa Del Sol has 72 years remaining and is still in a relatively comfortable position. CPF can still be used, and banks generally offer full loan tenures.
The Bayshore at 68 years remaining sits just above that threshold. Buyers using CPF will still qualify today, but the runway is shortening. In 10 years, when the lease drops below 60, the financing options tighten.
Bayshore Park, at 58 years remaining, is where lease decay gets critical. Banks are already shortening loan tenures, and the maximum LTV may be reduced. CPF usage is capped based on the remaining lease covering the youngest buyer to age 95. For a 35-year-old buyer, a 58-year lease just barely clears this requirement, which leaves no margin.
Bayshore MRT Proximity
Vela Bay is directly adjacent to Bayshore MRT. Based on the site plan, the walk from the development entrance to the station entrance is approximately 1-2 minutes via a sheltered connection.
Costa Del Sol is across Bayshore Road from the station. Walking time is approximately 3-5 minutes. The Bayshore MRT opening has already contributed to Costa Del Sol’s resale PSF rising from around $1,541 in 2022 to $1,728 in 2024.
The Bayshore sits behind Costa Del Sol. The walk to Bayshore MRT takes approximately 7-10 minutes, depending on which block you’re in.
Bayshore Park is the furthest, located at the southern end of the cluster. Walking time to Bayshore MRT is approximately 10-15 minutes. Note that this will change with the upcoming Bedok South MRT Station.
The proximity to Bayshore MRT is significant, as URA historical data shows that properties within 400 metres of new MRT stations typically see 15-20% capital appreciation in the first five years after station opening.
Sea Views
Costa Del Sol currently has the strongest sea view position. Its blocks are oriented to face East Coast Park directly.
Vela Bay is positioned at the western end of the cluster, with its two 31-storey towers oriented to maximise views of the Singapore Strait, East Coast Park, and the city skyline.
The Bayshore sits behind Costa Del Sol. Its sea views are largely blocked by Costa Del Sol’s 30-storey towers, but units on the highest floors of certain towers may have partial sea views.
Bayshore Park has four tall blocks (30-32 storeys) that can access sea views at higher floors, but its three low-rise blocks (8-10 storeys) are unlikely to see the sea.
Facilities
Bayshore Park is the clear winner in size. With a whopping 700,000-800,000 sqft land size, this massive space allows for 7 tennis courts, a full food court (Dolphin Clubhouse), a minimart, a hair and nail salon, a bistro bar, and two clubhouse blocks.
Costa Del Sol offers a strong facilities package including multiple pools, tennis courts, a putting green, a family clinic, a minimart, a laundromat, and a bistro within the development.
The Bayshore has standard condominium facilities, pools, tennis courts, gym, BBQ pits, playground, and putting green.
Vela Bay will have brand new, modern facilities designed to current standards, expected to include an infinity pool, state-of-the-art gym, smart home integration, EV charging provisions, and resort-style landscaping.
Price Analysis
The pricing spread across these four condos reflects the combination of age, lease position, MRT proximity, and sea views.
Current resale benchmarks (based on 2024 EdgeProp data):
Development | Avg Resale PSF (2024) | Price Growth Since 2020 | Typical 3BR Price Range |
Costa Del Sol | ~$1,728 | +36.4% | $1.8M – $2.5M |
The Bayshore | ~$1,349 | +39.6% | $1.3M – $1.6M |
Bayshore Park | ~$1,300 | +35.4% | $1.2M – $1.6M |
Vela Bay estimated launch pricing: Based on the GLS land cost of $1,388 psf ppr, construction costs, and developer margins, market analysts estimate a launch PSF in the range of $2,500 to $2,900. To put things in perspective, the average new sale price for 99-year leasehold condos in District 16 was $2,067 psf in 2023, and the nearby Seaside Residences averaged $2,166 psf on resale.
Rental Market
All four developments draw from the same tenant pool, which includes expatriates working at Changi Business Park, Changi Airport, and the CBD, plus local professionals and families attracted to the East Coast lifestyle.
Indicative rental data (District 16 leasehold condos):
Unit Type | Typical Monthly Rent | Gross Yield Range |
2BR (~900-1,000 sqft) | $3,200-$4,000 | 2.5-3.5% |
3BR (~1,200-1,400 sqft) | $4,000-$5,500 | 2.5-3.0% |
4BR (~1,500+ sqft) | $5,500-$7,000 | 2.0-2.8% |
Costa Del Sol and The Bayshore have historically shown healthy rental volume, indicating steady tenant demand, and Bayshore Park also performs well on rental volume.
For Vela Bay, rental yield will depend on launch pricing. At $2,200 PSF, a 900 sqft 2-bedroom at $1.98M achieving $3,800/month rent would yield approximately 2.3% gross. Consistent with new-build yields in Singapore, a key factor is the capital appreciation, and having the first-mover advantage in a neighbourhood where subsequent launches are likely pricier.
Bayshore Precinct Transformation
All four condos benefit from the broader Bayshore precinct masterplan, but Vela Bay is the most directly aligned.
The precinct will eventually house approximately 10,000 homes — 7,000 HDB and 3,000 private.
A second major GLS site at Bayshore Drive will yield an integrated development of approximately 1,280 units above Bedok South MRT, including 22,300 sqm of retail and commercial space, making it the hub.
For the three older condos, this development plan is a double-edged sword as the new supply, especially from the integrated development, will add significant competition for tenants and buyers.
For Vela Bay, the first-mover dynamic is relevant, as the first private condo in a new precinct typically sets the pricing benchmark. Subsequent GLS sites in Bayshore will likely be bid at higher land costs as the precinct matures, translating into higher launch prices for buyers.
Who Should Buy What
Buy Vela Bay if: You want a fresh 99-year lease with the longest investment runway, doorstep MRT access, modern design and smart home features, and you’re willing to pay the new-build premium for a 10+ year hold. Best suited for upgraders, young families, and long-horizon investors invested in Bayshore’s transformation.
Buy Costa Del Sol if: You want proven capital appreciation, the best sea views in the cluster, established resort-style facilities, and you’re comfortable with a 72-year lease position. Best for own-stay buyers who prioritise immediate lifestyle quality.
Buy The Bayshore if: You want the most affordable entry point in the cluster with direct Bayshore MRT benefit and the strongest recent price momentum.
Buy Bayshore Park if: You want more space in units and common areas and are willing to forego the lease position. Best for families who prioritise day-to-day convenience and don’t mind an older development.
Interested in Vela Bay? Register for the Vela bay showflat preview to receive developer pricing and floor plans when released.
This analysis is based on publicly available data from URA Realis, EdgeProp, and official GLS records as of March 2026. It is intended as an informational guide and does not constitute financial advice. Prospective buyers should conduct their own due diligence and consult qualified professionals before making purchase decisions.