Designed by award-winning architect Philip Cox — also the creator of the Helix Bridge linking the Bayfront to Marina Centre — the condominium has been conferred landmark status by the URA. It is also the only project with towers soaring up to 43 storeys, as most other condos fronting the Singapore River are restricted to around 10 storeys in height.

Located on Martin Road on the site of the former Trademart warehouse, the freehold, 545-unit River- Gate was developed jointly by CapitaLand and Hwa Hong Corp. It is located near the Mohamad Sultan and River Valley area, where restaurants and clubs — for instance, the famous Zouk discotheque — abound. It is also in the vicinity of Clarke Quay and Boat Quay, other hotspots for eateries and pubs, and a short drive to the CBD and Orchard Road shopping belt.

Given the location and quality of the project, it’s no surprise that it is sought-after by expatriates, say property agents. For the period of Sept 21 to 28, there were three transactions with prices ranging from $2,001 to $2,170 psf at RiverGate.

The first, a 1,496 sq ft, three-bedroom unit on the 41st floor, was sold for $3.2 million, or $2,170 psf. This represents a 25% gain for the previous owner, who bought it for $2.6 million ($1,737 psf) during the launch in 2006.

Keith Tan, director of Apro Realtors, says he brokered the sale of the unit to a buyer from China. Tan adds that the unit offers a spectacular view of the Marina Bay Sands integrated resort.

Tan, who has sold a number of units in the resale market, notes that most of the buyers are from China, with some buying for their own occupation. He reckons that at least 15 units in RiverGate are owned by mainland Chinese. For families, one of the attractions is the availability of sizeable three- and four-bedroom units and facilities in the condo, which is one of the biggest in the River Valley area.

In the second transaction, a 1,797 sq ft, four bedroom unit on the 36th floor was sold for $3.68 million ($2,047 psf). The unit changed hands for $3.05 million ($1,700 psf) in 2006, representing a 20% gain for the seller.

The final transaction involved a 1,022 sq ft, two bedroom unit on the fifth floor of another block that was sold for $2.05 million ($2,001 psf). This was a 21% gain for the seller, who purchased it for $1.69 million ($1,651 psf) in 2007.

Along Kim Seng Road and across the river from RiverGate is City Developments Ltd’s 175-unit Tribeca, which was completed this year. The most recent transaction there involved a 516 sq ft, one-bedroom unit that fetched $985,000 ($1,906 psf), according to a Sept 27 caveat. This compares with the peak of $1,974 psf achieved in 2007 and on Sept 3, this year. Most of the units at Tribeca that changed hands from July to September commanded prices in the range of $1,614 to $1,974 psf.

And, adjacent to Tribeca is the fully sold Centennia Suites, which is under construction. The most recent transactions at the Lippo Group development were in August, when units were sold at $1,935 to $1,943 psf.

Lippo’s other project next door, the 231 unit The Trillium, is expected to obtain its temporary occupation permit within a month or two. As completion nears, units in the three 29-storey towers have been changing hands at $2,005 to $2,150 psf since August.

It is clear that prices of new condos on either side of the Singapore River are continuing to hold up, and perhaps gradually move towards the highs seen in 2007.

Source : The Edge – 18 Oct 2010

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Demand for the units at The Regency has been overwhelming, mainly because there are only three freehold developments in the area, all of which are developed by UOL and have revitalised the old neighbourhood, say property agents.

UOL’s two earlier freehold condo developments, Twin Regency and Regency Suites, also saw all units sold out within months of their respective launches, given their convenient location on the city fringes.

“Now that buyers can see the actual finished product at The Regency at Tiong Bahru instead of just the site plan when it was under construction, there is renewed interest in getting a unit there,” says Matthew Koo, marketing director of ERA and a specialist in the sale of the project.

Since The Regency obtained its TOP more than three months ago, Koo and his team at ERA have sold 17 of the more than 50 units that they are marketing on behalf of owners in the secondary market. The latest asking prices for a unit at The Regency range from $1,250 psf for a three-bedroom unit to $1,450 psf for a two-bedroom apartment. Meanwhile, four-bedroom units are commanding average prices of $1,150 psf.

From July 6 to 19, four units at the development changed hands at $1,288 to $1,493 psf. A three-bedroom unit on the 21st floor of Block 38 was sold for $1.65 million ($1,288 psf) on July 12, representing a 19% gain for the seller, who bought it for $1.4 million ($1,084 psf) last November. This is the second time that the unit has changed hands in the secondary market. The seller had purchased it in a subsale from the first buyer who had bought it for $1.09 million ($851 psf) from the developer when it was launched in 2006.

The two others units that were sold are neighbouring units on the 34th floor of Block 36. One was a two-bedroom unit, which sold for $1.38 million ($1,493 psf). This represents a gain of about 40% to the seller, who had purchased the unit in December 2006 for $986,000 ($1,065 psf). The other unit was a three-bedroom apartment that changed hands for $1.65 million ($1,300 psf). The seller bought it for $1.3 million ($1,023 psf) from the developer in December 2006.

And, on the 35th of the same block, a two-bedroom unit went for $1.4 million ($1,488 psf).

Two-bedroom units most popular

Koo says the most popular units among buyers at The Regency are the two-bedroom apartments. Just last week, two couples in their early thirties bought the units for investment, with the intention of renting them out. Rental yield for units at the development is estimated to be close to 4% a year, he says.

Even though the condo is located in District 3 on the city fringes, it is able to command the kind of rental returns seen in the prime districts of 9 and 10, observes Koo. He estimates that more than 75% of the two-bedroom units at The Regency are being rented out, with the latest asking rents at around $4,500 a month. Three-bedroom apartments there can command rentals of $5,500 a month, while four-bedroom units fetch as much as $6,300.

Located at Chay Yan Street, The Regency is a 10-minute walk from the Tiong Bahru MRT station. The development also overlooks two old conserved four-storey blocks that are not likely to be redeveloped. This means owners of units on the high floors get unobstructed city views.

Another project that is getting the attention of savvy buyers is Rivergate, a 545-unit freehold development along the Singapore River that was completed early last year. There were three deals at prices ranging from $2,101 to $2,151 psf from July 6 to 13.

These latest transactions have crossed the $2,000 mark, which is close to the peak level achieved in 2H2007. The highest price achieved at Rivergate in terms of psf-price was $2,701 in May 2007, when a 3,143 sq ft unit on the 40th floor was sold for $8.5 million. A two-bedroom unit on the 24th floor of Block 99 was recently sold for $2.2 million ($2,150 psf), which is a whopping 76% capital gain for the seller, who had purchased the unit from the developer in March 2006 for $1.3 million ($1,219 psf).

In the same block, a two-bedroom unit on the 34th floor went for $2.1 million ($2,101 psf). The seller bought it from the developer for $1.3 million ($1,289 psf) in March 2006, hence seeing a price appreciation of 62%. The third unit that changed hands from July 6 to 13 was a two-bedroom unit on the 29th floor of the same block. It was sold for $2.2 million ($2,151 psf). This represents an 83% gain for the seller, who purchased it for $1.2 million ($1,174 psf) from the developer in October 2005.

Situated along Robertson Quay and Martin Road, the Rivergate development is the first residential project in Singapore to be accorded landmark status by URA. It is jointly developed by CapitaLand and Hwa Hong Corp.

According to Keith Tan, associate team director at PropNex, Rivergate is popular with investors as the units are large and therefore sought-after by expatriates. In fact, most owners are investors, he notes, adding that 80% of the units in the three 43-storey towers are currently tenanted.

Good rental return

Higher rental return is one of the factors that draw investors to Rivergate, notes Tan. He reckons that rentals at Rivergate have appreciated by some 50% compared with a year ago. When TOP was obtained in March last year, average rental for a two-bedroom unit at Rivergate ranged from $3,500 to $5,000 a month. Today, such units are fetching up to $6,000.

Meanwhile, owners of three-bedroom units who previously rented them out at between $5,000 and $6,500 a month are now able to get $8,000.

When the project was first launched in 2005, units were priced at $1,080 psf on average. Prices of units in the final phase, released a year later, were $1,600 psf. Today, the average asking price for a low-floor unit at Rivergate is about $1,900 psf, while higher- floor units from the 25th floor could fetch around $2,000 psf, says Tan.

Source : The Edge – 2 Aug 2010

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RiverGate, located along the Singapore River, is a unique freehold residential development with a total of 545 units. It is the first residential project in Singapore to be accorded landmark status by the Urban Redevelopment Authority (URA). URA accords ‘landmark’ status only to buildings that are strategically located, such as along the Singapore River, and that have demonstrated cutting-edge architectural design. In this regard, RiverGate has been recognised for its bold architectural design featuring verdant multi-storey sky gardens, and a lush green vista that is seamlessly integrated with the Singapore River promenade.

Majority of the units have good views of the river and surrounding cityscape. RiverGate’s design features include terraces, balconies, multi-storey sky gardens and sprawling gardens that are lushly landscaped.

Tucked in a serene enclave at the upper bend of the Singapore River, RiverGate is minutes away from the Central Business District and dining and entertainment facilities by the river. Discerning homebuyers and investors will appreciate that the development offers a rare opportunity to own a freehold riverside home. The design of the development is outstanding and the scenic green vista that is integrated with the Singapore River promenade.

Location: Martin Road (District 9)
Tenure: Freehold
Site Area: 320,000 sqft
Year of Completion: 2009
Total Units: 545 in three 43-storey towers

Unit Types:
4 commercial units
2 bedroom ~ 1,023 to 1,055 sqft
3 bedroom ~ 1,496 to 1,776 sqft
4 bedroom ~ 1,894 to 2,110 sqft
Penthouse ~ 2,992 to 4,187 sqft

Facilities:
• Sloping lawn areas • Timber deck with BBQ pits • Infinity pool edge • Jacuzzi • 50m pool
• Linear water feature • Lily pond • Fitness area • Basketball court • Tennis Court • Water feature
• Entrance water feature • Children’s pool • Children’s water play area • Hot tub • Jacuzzi loungers
• Spa jets • Gymnasium (2nd storey) • Golf simulation (2nd storey) • Reading room (2nd storey) • Function room (2nd storey)
• Home theatre (2nd storey) • Sky Gynasium (34th storey) • Water wale

RiverGate offers tremendous investment potential. It is a well-located property that is positioned to serve the attractive surrounding areas. The development will be popular with our clientele of high net-worth individuals.

Contact us at info@lushhomemedia.com or +65 9631 8037 with the following for more information:

Rivergate / Name / Contact # / Rent or Sale / Unit Type Interested

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