Wimsey
05-10-18, 15:56
RV Altitude is a new freehold condominium development in the upmarket River Valley area in District 9. This location is beside St Thomas Walk, just a hop, skip and jump from the Somerset MRT area and Orchard Road.
The RV Altitude condo (https://esingaporeproperty.sg/property/rv-altitude-condo/) is being built by Roxy-Pacific Holdings. The site was formerly vacant ground, and was bought by RH Capital Two (subsidiary of Roxy-Pacific) for $110 million last year. Development charges added another $17.6 million to the cost of the land.
Roxy-Pacific's view at the time of purchase was that property in prime locations, like the Orchard Road area where the RV Altitude condo is located, was undervalued. Given that they paid around $1,582 per sq ft per plot ratio, which even after adding development costs of around $700 PSF, would result in a break-even of around $2,300 PSF, their view does seem reasonable. Nearby new freehold developments are already selling at over $2,800 PSF average this year.
RV Altitude is also pretty conveniently located. Lots of amenities nearby. Like the upcoming Great World MRT station that will be about 3 minutes walk away. Also River Valley Primary School, that is 5 minutes walk across the road. And lots of shopping spots around, mainly at Orchard Road, and also at Great World City Mall.
If this is something like what you have been looking for, let us know if you would like to arrange to view the RV Altitude (https://esingaporeproperty.sg/property/rv-altitude-condo/) showflat. We will also keep you updated on any further details.
The RV Altitude condo (https://esingaporeproperty.sg/property/rv-altitude-condo/) is being built by Roxy-Pacific Holdings. The site was formerly vacant ground, and was bought by RH Capital Two (subsidiary of Roxy-Pacific) for $110 million last year. Development charges added another $17.6 million to the cost of the land.
Roxy-Pacific's view at the time of purchase was that property in prime locations, like the Orchard Road area where the RV Altitude condo is located, was undervalued. Given that they paid around $1,582 per sq ft per plot ratio, which even after adding development costs of around $700 PSF, would result in a break-even of around $2,300 PSF, their view does seem reasonable. Nearby new freehold developments are already selling at over $2,800 PSF average this year.
RV Altitude is also pretty conveniently located. Lots of amenities nearby. Like the upcoming Great World MRT station that will be about 3 minutes walk away. Also River Valley Primary School, that is 5 minutes walk across the road. And lots of shopping spots around, mainly at Orchard Road, and also at Great World City Mall.
If this is something like what you have been looking for, let us know if you would like to arrange to view the RV Altitude (https://esingaporeproperty.sg/property/rv-altitude-condo/) showflat. We will also keep you updated on any further details.