River Valley Apartments, a freehold condominium located on River Valley Road, has recently been purchased for a staggering $56 million. This marks the first successful residential collective sale deal to be completed in 2025. The sale price equates to a land rate of $1,622 per square foot per plot ratio (psf ppr).
Investing in a condominium, or condo for short, in Singapore has become an increasingly popular choice for investors, both locals and foreigners alike. This is largely due to the city-state’s strong economy, stable political climate, and overall high standard of living. With numerous opportunities available in Singapore’s real estate market, condos are particularly appealing for their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, important factors to consider, and necessary steps to take when investing in a condo in Singapore.
According to a recent press release from Knight Frank Singapore, the marketing agent for the property, the buyer is a Singapore family office with plans to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development of these serviced apartments.
Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, explains, “This marks the first collective sale site sold in 2025, despite the challenging collective sale market, particularly for the residential sector.”
The collective sale of River Valley Apartments is the first residential collective sale site sold in a prime district since May 2023 when Kew Lodge was acquired for $66.8 million by Aurum Land.
Chia adds, “The tender for River Valley Apartments attracted significant interest, which can be attributed to its excellent location in the popular River Valley neighborhood. The site’s redevelopment into a future serviced apartment project is well-suited for the rapidly growing living sector in Singapore.”
River Valley Apartments consists of a four-story building with 24 units and covers a total land area of 12,408 square feet. The site, which is zoned as residential, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale of the development on January 7 with a guide price of $56 million.
Jerry Tan, the chairman of the River Valley Apartments collective sale committee, states, “We have tried to initiate a collective sale exercise in the past, and this is the first time we have been able to secure 80% of the owners’ consensus to proceed with the tender launch.”
For potential buyers interested in properties at River Valley Apartments, they can check out the latest listings on the market. Additionally, there are various listings for sale and for rent available for the property on Ask Buddy.
The price trend for properties in River Valley Apartments can also be compared to those in nearby districts such as HDB, condos, and landed houses. Interested buyers can also view the sale transactions for River Valley Apartments to get a better understanding of the property market in the area.
For those looking for rental units in District 10, there are also multiple condo rental listings available for River Valley Apartments. With its prime location and upcoming redevelopment, River Valley Apartments continues to be a highly sought-after property in the area.