Investing in real estate in Singapore is a strategic decision, and location plays a critical role in its success. A prime location greatly influences the value of a property, making it a wise investment choice. In Singapore, condos located in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have seen a steady increase in value over the years. For instance, areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have been consistently sought after for their prime location, which has led to a rise in property values. Families looking to purchase a Singapore condo also prioritize proximity to reputable schools and educational institutions, making these areas even more desirable and boosting their investment potential. Therefore, when it comes to real estate investment in Singapore, location should be carefully considered to ensure a profitable return on investment.
A landmark deal has been sealed in River Valley with the successful collective sale of River Valley Apartments, a freehold condominium located along River Valley Road. The property, which was marketed by Knight Frank Singapore, has been sold for an impressive $56 million, making it the first residential collective sale of 2025 to be finalized.
Under the terms of the sale, each strata-titled owner can expect to receive a minimum of $2 million to $2.6 million, based on the selling price of the development. The buyer, a Singapore family office, has plans to redevelop the site into serviced apartments. This development has been granted an Outline Permission by the Urban Redevelopment Authority (URA).
According to Knight Frank Singapore’s Head of Capital Markets (Land & Collective Sale), Chia Mein Mein, this successful deal is a significant achievement given the current challenging collective sale market, especially in the residential sector.
Earlier in 2023, a prime district collective sale site was sold to Aurum Land for $66.8 million. The sale of River Valley Apartments is a significant milestone, being the first residential collective site sold in a prime district since then.
Chia attributes the strong interest in the tender for River Valley Apartments to its excellent location in the sought-after River Valley neighbourhood, and its potential for redevelopment into a serviced apartment project that will cater to the growing demand for alternative living options in Singapore.
River Valley Apartments is a four-storey building comprising of 24 units, occupying a 12,408 sq ft site with a residential zoning and gross plot ratio of 2.8 as per the latest Master Plan. The collective sale of this development was launched on Jan 7, with a guide price of $56 million.
Jerry Tan, Chairman of River Valley Apartments’ collective sale committee, reveals that previous attempts to initiate a collective sale exercise were unsuccessful, but this time, they managed to secure 80% of the owners’ consensus to proceed with the tender launch.
Interested buyers can now check out the latest listings for River Valley Apartments properties, with BuddyListings offering an extensive selection of properties for sale and rent in this highly desirable district.