In terms of absolute prices, two 463 sq ft one-bedroom units at Riverfront Residences were the most affordable new sale property transactions of the year.
Both units are located on the 2nd floor of the 1,472-unit Hougang project, and both were sold respectively on the 5th and 23rd of July for $578,000 or $1,249.
The leasehold Riverfront Residences occupies the site of the former Rio Casa, a 286-unit privatised HUDC estate. It was among the new projects whose launching date was brought forward following the announcement of the new property cooling measures on July 5.
The project sold over 500 units overnight following the announcement, right before the new measures took effect the next day.
Developed by an Oxley-led consortium, Riverfront Residences comprises nine 17-storey blocks of apartments, 21 strata landed houses and six strata shops.
Based on URA caveats, over 800 units at the development has been snapped up so far.
One-bedroom units at Riverfront Residences start from 463 sq ft and are priced from $578,000 ($1,248 psf). Two-bedroom units start from 603 sq ft and are priced from $755,000 ($1,252 psf).
Three-bedroom units start from 872 sq ft and are priced from $1.07 million ($1,227 psf), while premium three-bedroom units start from 1,066 sq ft and are priced from $1.26 million ($1,182 psf). Finally, four-bedroom units start from 1,410 sq ft and are priced from $1.68 million ($1,191 psf).