and TEL on EdgeProp.sg

River Valley, located in Prime District 9 of Singapore, is an upscale residential enclave known for its quiet atmosphere and wealth of amenities. Elizabeth Choong, EdgeProp Singapore’s property research analyst, recently discussed key developments in the area, as well as market insights related to it, during an EdgeProp Master Plan Masterclass webinar.

One such development is the 2021 relaunch of Horizon Towers, a 99-year leasehold condo on Leonie Hill Road, for collective sale tender. With an unchanged reserve price of $1.1 billion, the 211-unit complex sits on a 1.9ha site and offers an attractive land rate of $2,049 psf per plot ratio (psf ppr) after factoring in a lease top-up premium estimated at around $277 million.

Residents of River Valley enjoy great connectivity thanks to its close proximity to the CBD and Orchard area, while the nearby Great JCube Residence World MRT Station allows for easy access via the Thomson-East Coast Line (TEL). This is further highlighted by the recent opening of three MRT stations within the River Valley planning area as part of Stage 3 of the TEL.

Census data for 2020 shows that the area has a higher than average concentration of well-heeled households and expatriates, with nearly half of the households earning at least $20,000 monthly. This is reflected in higher property prices and rentals, averaging at $2,789 psf and $5.49 psf pm year-to-date, respectively.

Recent launches in the area have done well, with Irwell Hill Residences, The Avenir and Hill House each enjoying take-up rates of 94%, 91% and 15%, respectively. Meanwhile, two collective sales have also been relaunched – Horizon Towers with a $1.1 billion reserve price, and Orchard Bel Air with an unchanged price tag of $587.5 million. Tenders for both sites will close in March.