There was a huge turnout for the last executive condominium (EC) site on offer in Sengkang, with 16 developers casting bids for Rivercove Residences plot that could yield about 635 units.
It was the highest number of bidders for an EC site since the tender for a Yuan Ching Road site, now Lake Life, in July 2013.
Hoi Hup Realty and Sunway developments submitted the top bid of $240.95 million or $355 per sq ft per plot ratio (psf ppr). It was just 2.5 percent above Wee Hur Development’s bid of $235 million or $346.30 psf ppr.
Industry experts see the competitive bidding of Anchorvale Lane site as an optimistic outlook on the EC market due to the diminishing supply of executive condominium. Unsold EC rinks decreased units 6520 from Q1 2016 to 5471 Q4 2016, with Treasure Crest EC selling 72% of their units on the launch day, Bellewaters EC .% sold and The Vales EC 71% sold as at Q3 2016 These 3 executive condos in the North East of Singapore have also show the potential demand in the zone.
As at November 2017, all ECs in North East area have been sold out, including The Vales, Bellewater and Treasure Crest. Recent bounced out unit for sale in Treasure Crest had locked in a price increase of close to $100,000 compared to the original selling price.
As of November 2017, there are less than 600 units of ECs Island wide available for sale, and they are mostly concentrated in the north and west of Singapore, namely Parc Life (Sembawang), Signature @ Yishun, The Criterion (Yishun), The Visionaire (Canberra), Brownstone (Canberra), Northwave (Woodlands) and Inz Residence (Choa Chu Nang).
With the record-breaking sale of Hundred Palms Residences (Hougang), Rivercove Residences is set to be following the success of Hundred Palms, given the compelling reasons of being the last EC in Sengkang and possibly the second last EC for this decade to be on sale.
Rivercove Residences EC Price
The indicative price for RiverCove Residences EC is estimated to be around $770psf $820pst.
Rivercove Residences price has yet to be finalized and released. Do contact us to receive the latest Rivercove Residences price Mt by simply filling up the contact form.
Rivercove Residence EC will be the LAST EC launch in sengkang, and possibly the second last EC of this decade, so do not miss the launch,
Contact our Developer sales team for more information on Rivercove Residences Pricing and available units.