River Valley condos combine centrality, demand and relative affordability
River Valley condos could be a more affordable option for homebuyers how want to live near the city centre. (Photo: Samuel Issac Chua/EdgeProp Singapore).
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Singapore is divided into 55 planning areas, which are further grouped into five regions. Through careful and thoughtful planning by URA, many of these planning areas have gradually evolved and developed their own distinctive character.
The River Valley Planning Area is part of Singapore’s Central Region and is slated for significant changes under the latest Master Plan. Key transformations include the continued development of the Greater Southern Waterfront, as well as new housing developments in Mount Pleasant, the former Keppel Golf Course and the former Bukit Timah Turf City. Additionally, Bishan is expected to be transformed into Singapore’s newest sub-regional centre.
River Valley: an exclusive residential enclave
Meanwhile, River Valley is expected to continue to be a high-end residential enclave, as the most of the area is designated for residential use (see Map 1). Furthermore, River Valley is sandwiched between the Orchard and Singapore River Planning Areas, which are also high-end residential enclaves.
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Source: EdgeProp LandLens
The segment of the Thomson–East Coast Line (TEL) that runs through the Central Region was completed in November 2022. Prior to this, the River Valley Planning Area was not served by any MRT stations. The opening of the Great World and Orchard Boulevard MRT stations on the TEL now provides residents with easy access to the MRT network.
In addition to the TEL, there are many amenities within the planning area, including Great World City, New Bahru and Zion Riverside Food Centre. Residents are also a short drive from the Central Expressway, Orchard Road, Tiong Bahru and the CBD.
The main drawback is the lack of schools in the planning area, as River Valley Primary School is the only local school located in the neighbourhood. However, the nearby Bukit Merah Planning Area houses 11 local schools, including seven primary schools, namely Alexandra Primary School, Blangah Rise Primary School, Cantonment Primary School, CHIJ (Kellock), Gan Eng Seng Primary School, Radin Mas Primary School and Zhangde Primary School.
Demand driving up prices for new River Valley condos
Prices for new condos in River Valley have increased. From 2020 to 2025, the average new sale price of 99-year leasehold condos in the River Valley Planning Area has increased by 20.2% to $3,188 psf (see Chart 1). This is generally attributed to the increase in new sale volume, which rose from 35 units in 2020 to 705 units last year.
A price comparison of 99-year leasehold new condos indicates that the average new sale price for such condos in the River Valley Planning Area ($3,188 psf) was marginally higher than those in the Singapore River Planning Area ($3,099 psf) last year (see Chart 2). Condos in River Valley also recorded stronger price growth of 20.2% from 2020 to 2025, compared with 18.7% for those in Singapore River.
Notably, no new sale transaction for comparable condos in the Orchard Planning Area has been recorded after 2023. In that year, the average new sale price for Orchard condos stood at $3,589 psf, up from $3,539 psf in 2020.
Last year, the combined new sale volume for the River Valley and Singapore River planning areas totalled 763 units, with River Valley accounting for 705 units. The majority of River Valley’s new sale transactions involved units at River Green (482 units) and UpperHouse at Orchard Boulevard (221 units).
UpperHouse at Orchard Boulevard also achieved the highest average new sale price at $3,316 psf, followed by River Green at $3,131 psf.
Meanwhile, only Union Square Residences (36 units) and CanningHill Piers (22 units) contributed to last year’s new sale volume in the Singapore River Planning Area. In addition to recording a higher sale volume, Union Square Residences ($3,227 psf) also achieved a higher average new sale price than CanningHill Piers ($2,890 psf).
The most recent new sale transactions in the Orchard Planning Area took place in 2023, involving the sale of two units at Cuscaden Reserve at an average new sale price of $3,589 psf.
River Valley: Highest resale volume
Likewise, the average resale price of 99-year leasehold condos in the River Valley Planning Area rose by 36.8%, from $1,591 psf in 2020 to $2,177 psf last year, driven by stronger demand. Resale volume for such condos surged from 25 units in 2020 to 93 units last year (see Chart 3).
A comparison of last year’s average resale prices for 99-year leasehold condos indicates that those in the Orchard Planning Area ($2,904 psf) achieved significantly higher prices than their counterparts in River Valley ($2,177 psf) and Singapore River ($2,042 psf) (see Chart 4).
However, condos in Orchard recorded the weakest price growth of 0.9% from 2020 to 2025. In contrast, condos in River Valley and Singapore River posted stronger price increases of 36.8% and 50.8%, respectively.
Additionally, River Valley has recorded two resale transaction so far this year, while Orchard and Singapore River recorded one transaction each.
Collectively, the three planning areas recorded 170 resale transactions last year, with River Valley (93 transactions) accounting for the majority, followed by Singapore River (51 transactions) and Orchard (26 transactions).
Of the resale transactions concluded for River Valley condos last year, Martin Modern topped the list with 28 transactions, followed closely by OUE Twin Peaks (25 transactions) and Horizon Towers (17 transactions). Notably, these three condos were the only developments in River Valley to record more than 10 resale transactions last year.
An examination of their resale prices shows that Martin Modern ($2,768 psf) ranked second, followed by OUE Twin Peaks ($2,229 psf). The top spot was taken by Irwell Hill Residences, which saw five units change hands at an average resale price of $2,933 psf (see Table 1). Notably, all three condos achieved average resale prices above $2,200 psf.
In comparison, resale units from only three condos in Orchard changed hands last year, and all reported average resale prices above $2,500 psf. Cuscaden Reserve ($3,111 psf) led the pack, followed by The Orchard Residences ($3,091 psf) and Cairnhill Nine ($2,521 psf).
In contrast, lower average resale prices were recorded by condos in the Singapore River Planning Area. Riviere ($2,935 psf) took the top spot, followed by Up@Robertson Quay ($2,069 psf) and River Place ($1,830 psf).
More profitable transactions for River Valley condos
Among the condos with the highest average resale prices in their respective planning areas, those in River Valley recorded more profitable transactions than their counterparts in Orchard and Singapore River last year (see Table 2). Moreover, River Valley condos were the only ones to report profits exceeding $2 million.
Last year, a resale transaction at Horizon Towers yielded a profit of $5.1 million, setting a record high for the development. The unit involved is located on the 19th storey and measures 5,145 sq ft. The seller had purchased the unit in February 2004 for $1.5 million ($292 psf) and sold it in August 2025 for $6.6 million ($1,283 psf).
The seller likely benefited from a long holding period of about 21 years, during which the average resale price for Horizon Towers more than doubled from $381 psf in 2004 to $1,388 psf last year (see Chart 5).
Horizon Towers obtained its temporary occupation permit (TOP) in 1984 and had a remaining lease of approximately 53 years at the time of sale. Its convenient location within the River Valley Planning Area may have mitigated the negative impact of lease decay. The condo is within walking distance of Great World MRT Station and Great World City. It is also a short drive from Orchard Road and the CBD.
Among the River Valley condos, Irwell Hill Residences stood out by recording the highest number of profitable transactions last year. The highest profit of $795,000 also marked a record high for the condo. The seller had purchased the 1,582-sq ft unit on the 13th storey in June 2022 for $4.255 million ($2,689 psf) from the developer, and sold it in August 2025 for $5.05 million ($3,192 psf).
Despite the relatively short holding period, the seller was not liable for seller’s stamp duty (SSD), as the applicable SSD holding period at the time of purchase was three years. The seller had just fulfilled the required holding period.
More unprofitable transactions for Orchard condos
In contrast, condos in the Orchard Planning Area recorded fewer profitable transactions than unprofitable ones last year. In addition, two out of three unprofitable transactions at The Orchard Residences resulted in million-dollar losses.
The larger of the two involved a 2,852-sq ft unit on the 32nd storey, which incurred a loss of $1.358 million when the seller sold it for $9.48 million ($3,323 psf) in March 2025. The seller had purchased the unit in May 2007 for $10.838 million ($3,799 psf).
The loss could be attributed to The Orchard Residences’ average price decline of 7% from 2007 to 2025 (see Chart 6), which mirrors the weak price growth of condos in the Orchard Planning Area in recent years. This is despite The Orchard Residences’ prime location in the heart of Orchard Road and its close proximity to the dual-line Orchard MRT Station and ION Orchard.
River Valley: Live near the city centre at more affordable prices
A comparison of 99-year leasehold condos in the River Valley Planning Area highlights their relative affordability and profitability compared with their counterparts in Orchard. This could help explain the strong sales performance of River Green, which achieved a take-up rate of 88% during its launch in August 2025. Based on caveats lodged at the time of writing, the take-up rate for the 524-unit condo had improved to 91.8% at an average price of $3,131 psf.
Located along River Valley Green, River Green is within the River Valley Planning Area and prime District 9. The 99-year leasehold development is also a short walk from Great World MRT Station, Great World City, Zion Riverside Food Centre and River Valley Primary School.
In addition, River Green is near Promenade Peak and Zyon Grand, both of which were also launched last year. These two developments also recorded healthy take-up rates exceeding 50% during their launches. Based on caveats lodged at the time of writing, take-up rates for the 596-unit Promenade Peak and the 706-unit Zyon Grand have risen to 65.1% and 86.5%, respectively.
Notably, last year’s average prices for Promenade Peak ($2,971 psf) and Zyon Grand ($3,046 psf) were lower than that of River Green ($3,131 psf). This could be attributed to Promenade Peak and Zyon Grand being located in the less prime District 3 and the arguably less prestigious Bukit Merah Planning Area.
Homebuyers keen to live in exclusive River Valley will be pleased to know that another condo in the neighbourhood is slated for launch soon. This upcoming 99-year leasehold development will be directly linked to Great World MRT Station and Great World City, offering enhanced convenience and connectivity for future residents. Named River Modern, the project will feature 455 units across two towers, as well as several shops at the ground level.
In addition, a Government Land Sale (GLS) site is located across the road from River Modern (see Map 2). The River Valley Green (Parcel C) GLS site is on the Confirmed List for the GLS programme for the first half of this year and is expected to be launched for tender in April.
Source: EdgeProp LandLens
Conclusion
Under the most recent Master Plan, the majority of land in River Valley is expected to remain designated for residential use, reinforcing the area’s reputation as a high-end residential enclave. Additionally, the Central Region is expected to undergo transformative changes, and River Valley residents are likely to benefit from the spillover effects, which will continue to support demand and housing prices for condos in the neighbourhood.
New and resale condos in River Valley have always enjoyed healthy demand from homebuyers due to the planning area’s central location and its proximity to Orchard Road and the CBD. Furthermore, connectivity in the neighbourhood was enhanced by the completion of the TEL stations within the Central Region.
Prices for new and resale 99-year leasehold condos in River Valley are consistently lower than those for similar condos in Orchard. However, condos in River Valley enjoy stronger demand and have achieved significantly higher price growth and profitability, indicating that they could be a more affordable and value-for-money option for those wishing to live near the city centre.
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