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RiverGate scores new high of $2,798 psf

/ EdgeProp Singapore |

January 28, 2022 9:06 AM SGT

SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have achieved new highs in terms of psf prices and those that have seen new lows. This is based on URA Realis data for the period of Jan 8 to 15.

Read also: Unit at Rivergate gains $3.82 mil profit

Highest psf price

RiverGate hit a new psf price high of $2,798 following the sale of a 1,894 sq ft unit for $5.3 million on Jan 13. The unit sold was a four-bedder located on the 32nd floor. The owner had previously purchased the property for $2.84 million in June 2009, translating to a gain of some $2.5 million.

A 1,894 sq ft unit at RiverGate was sold for $5.3 million on Jan 13 (Credit: Samuel Isaac Chua/The Edge Singapore)

The development last hit a new psf price high on Sept 16 when another four-bedroom unit was sold for $5.2 million or $2,745 psf.

Located in District 9 off Robertson Quay, the freehold RiverGate was developed by CapitaLand and completed in 2009. It has a total of 545 freehold units across three 43-storey blocks. The project is a one-minute drive from Robertson Walk and a three-minute drive from Great World City. It is also an 11- minute walk to the upcoming Havelock MRT Station on the Thomson-East Coast Line.

Another freehold development completed in 2009, Meyer Residence, also hit a new psf price high. A 1,152 sq ft, three-bedroom unit on the 16th floor changed hands for $2.3 million on Jan 13, translating to $1,997 psf. The owner had previously purchased the unit for $1.85 million, or $1,606 psf, in July 2017.

Two 3-bedroom units at Meyer Residence were sold for $1,997 psf on Jan 13 and 18 respectively (Credit: The Edge Singapore)

Incidentally, another unit of the same size located on the 15th floor was sold for the same price of $2.3 million just five days later, on Jan 18. The unit had been previously purchased for $1.21 million, or $1,050 psf, in July 2008.

The condo, located in District 15’s Marine Parade, was developed by Sing Holdings. It comprises 68 residential units, made up of two- and three-bedroom apartments. The development is within walking distance of the upcoming Katong Park MRT Station on the Thomson-East Coast Line. (Discover insightful data of any Singapore condominium with our condo directory)

New low

Riviere, which is developed by Frasers Property at Jiak Kim Street on District 3, saw a new low in terms of psf price. On Jan 15, a three-bedroom unit there measuring 1,173 sq ft was sold for $2.71 million, translating to $2,307 psf.

A three-bedroom show flat for Riviere. The project hit a new psf price low of $2,307 on Jan 15 (Credit: Samuel Isaac Chua/The Edge Singapore)

The 99-year-old development sits on the former Zouk nightclub and is near Great World City, Clarke Quay Central, the CBD and Marina Bay. It is slated for completion in 2023. Overlooking the Singapore River, the development is also within close proximity to the upcoming Great World City and Havelock MRT stations.

Riviere has 455 residences housed within twin 36-storey glass towers, and a four-storey block of serviced apartments. The project comprises one- to four-bedroom units.