People's Insurance Building
People's Insurance Building is a commercial building in District 1 · Downtown Core, on land zoned COMMERCIAL under the URA Master Plan with a gross plot ratio of 4.2. It is leasehold with roughly 14 years remaining. 2 transactions are on record since 1995, most recently in Jan 2023. 2 units are currently listed for sale or rent. ACRA records 0 live company registrations at this address.
What are the key facts about People's Insurance Building?
- Asset class
- Commercial
- Land-use zone
- COMMERCIAL
- Gross plot ratio
- 4.2
- Tenure
- Leasehold
- District / Area
- District 1 · Downtown Core
- Address
- 38,40 South Bridge Road
- Land area
- —
- Transactions on record
- 2 (records start 1995)
- Live listings
- 2
- ACRA registrations
- 0
About People's Insurance Building
People'S Insurance Building is a commercial building in Downtown Core (District 01). It is located along South Bridge Road, Singapore 058672.
Under the URA Master Plan it sits on land zoned commercial with a gross plot ratio of 4.2. The site falls within a conservation area, so external alterations are subject to URA conservation guidelines. It lies inside the Central Area.
The site is leasehold, with about 14 years remaining on the lease.
2 transactions have been recorded here, at a median of S$3,496 psf. The most recent was in January 2023.
The nearest MRT is Clarke Quay MRT, 214 m away (about a 3-minute walk). The closest bus stop (Boat Quay) is 108 m away (about a 2-minute walk).
What is People's Insurance Building zoned as?
- Land-use zone
- COMMERCIAL
- Gross plot ratio
- 4.2
- Conservation area
- Upper Circular Road
- Urban design area
- Udga
- Central Area
- Yes
What has People's Insurance Building sold for?
| Date | Use | Price | Area | PSF |
|---|---|---|---|---|
| Jan 2023 | Shop House | S$13.58M | 2,624 sqft | $5,175 |
| Jan 2000 | Shop House | S$4.77M | 2,624 sqft | $1,816 |
URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like.
How does South Bridge Road price?
Too few strata sales on this street to support a median — the count is shown without one.
Street figures cover strata deals only — land and strata PSF are not comparable.
What do commercial rents run near People's Insurance Building?
Indicative area yield — District 1 retail
An INDICATIVE AREA yield for District 1 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.
Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.
Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.
Retail rents — District 1 ($ psm/month, 2026Q2)
| Floor level · size band | 25th pct | Median | 75th pct |
|---|---|---|---|
| Level 2 & 3 · 30 & Below | $86.02 | $123.08 | $167.78 |
| B1 & Below · 30 & Below | $69.95 | $306.07 | $392.13 |
| Level 1 · 30 & Below | $142.92 | $214.69 | $372.85 |
| Level 1 · >30 - 100 | $117.46 | $187.50 | $219.19 |
| B1 & Below · >30 - 100 | $116.28 | $142.89 | $228.69 |
| Level 4 & Above · >30 - 100 | $71.98 | $75.86 | $192.95 |
| Level 2 & 3 · >30 - 100 | $73.23 | $95.24 | $167.06 |
| Level 2 & 3 · >100 - 300 | $83.43 | $129.13 | $158.54 |
Office rents — Central Area ($ psm/month, 2026Q2)
| Building class · size band | 25th pct | Median | 75th pct |
|---|---|---|---|
| Category 1 · 100 & Below | $91.40 | $96.39 | $119.48 |
| Category 2 · 100 & Below | $57.98 | $71.59 | $86.82 |
| Category 1 · >100 - 200 | $113.24 | $120.54 | $144.36 |
| Category 2 · >100 - 200 | $59.40 | $77.88 | $96.88 |
| Category 2 · >200 - 500 | $69.97 | $89.34 | $97.94 |
| Category 1 · >200 - 500 | $112.64 | $129.70 | $148.82 |
| Category 1 · >500 - 1000 | $119.97 | $136.70 | $147.13 |
| Category 2 · >500 - 1000 | $55.42 | $82.91 | $92.66 |
URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.
What is available at People's Insurance Building right now?
For sale (1)
- 38 South Bridge RoadS$38.00M · 10,503 sqft
For rent (1)
- 38 South Bridge RoadS$83k/mo · 9,786 sqft
What is near People's Insurance Building?
Getting around
- Clarke Quay MRT214 m · ~3 min
Amenities nearby
Competing premises nearby
Retail and F&B premises competing for the same footfall — context for an occupier, not a selling point.
Straight-line distances. Source: PropKaki amenities data.
How many companies are registered at People's Insurance Building?
- Live registrations
- 0
- Registered last 3 years
- 0
Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.
Frequently asked questions about People's Insurance Building
Where is People'S Insurance Building?⌄
People'S Insurance Building is at 38,40 South Bridge Road, Singapore 058672, in the Downtown Core planning area.
What is People'S Insurance Building zoned as?⌄
People'S Insurance Building sits on land zoned commercial under the URA Master Plan, with a gross plot ratio of 4.2.
What is the tenure of People'S Insurance Building?⌄
People'S Insurance Building is leasehold. About 14 years remain on the lease.
Is People'S Insurance Building a conserved property?⌄
Yes. People'S Insurance Building falls within a URA conservation area, so external works are subject to conservation guidelines.
What have units at People'S Insurance Building sold for?⌄
Across 2 recorded transactions, the median price is S$3,496 psf. The latest was in January 2023.
What is the nearest MRT station to People'S Insurance Building?⌄
Clarke Quay MRT is the closest, 214 m away (about a 3-minute walk).
The facts are here — now get the verdict on People's Insurance Building.
Ask what a unit here would fetch, what the zone allows, or how it compares.
PropKakiHere's the building's zone, its recorded deals and every live unit — and where the asking prices sit against them.