RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy? - PropertySGnew.com

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RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?

River Valley, PropertySGnew.com

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.com

Soaring 21 storeys high, this District 9 freehold development at the heart of River Valley comprises just a single block with a total of 140 units. Unsurprisingly, there is much interest surrounding RV Altitude, owing to its prime location and also because it’s one of the first private homes to launch in 2019. It was opened for public preview on 5 January.

RV Altitude is situated on elevated ground (hence, ‘Altitude’) in a condominium enclave just behind the main Orchard Road shopping belt, so its location feels particularly exclusive. The site for this condo was acquired in August 2017 by Roxy-Pacific Holdings for $110 million at $1,582 psf per plot ratio. It is slated for completion in July 2022.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comGoogle map aerial view of RV Altitude. Located at an affluent part of town, this freehold property is surrounded by a mix of pastel-washed old condos as well as the glass-clad and metal-encased buildings of the new condos.

Unit types offered are all 2-bedroom, with premium options (additional bathroom) as well as dual key units (shared communal spaces with separate entrances to the two bedrooms) available.

 

The Surroundings

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comAlong River Valley Road in Jan 2019. RV Altitude’s 21 storeys sit amidst a condominium enclave.

Situated along River Valley Road, RV Altitude is nestled between high-rise condominiums—The Verv @ RV (16 storeys), Riverdale Residence (20 storeys) and Wilmer House (19 storeys)—so there won’t be much of a view. But its convenience more than makes up for it.

Despite locating close to the Orchard Road shopping belt, it’s a relatively quiet site away from the main hustle and bustle. You’re essentially getting the best of both worlds—convenience yet also peace and quiet. We visited the area during peak evening hours on a weekday evening and found the area to be relatively tranquil, although there were some traffic noise to contend with seeing as River Valley Road is a relatively major arterial road.

 

Convenience

For those who rely on public transportation, RV Altitude is just a 15-minute-walk away from Somerset MRT. Located at North-South Line, it’s one stop to Dhoby Ghaut Station, an interchange which links up to the Circle Line as well as the North-East line.

The Great World MRT station will eventually supersede Somerset MRT as the nearest station for RV Altitude however. Located along the upcoming Thomson-East Coast Line, it will take just 4 minutes to reach the station by foot. The new Thomson-East Coast Line reaches areas like Shenton Way (4 stops from Great World) and Upper Thomson (7 stops). If you’re planning to rent out the unit, the proximity to these key districts should be something to consider.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comThe Thomson-East Coast Line will be fully operational by 2024, with the Founders’ Memorial station opened only in 2025.

Nearby bus stops have buses that take you to areas like Tiong Bahru, Tanjong Pagar, Bukit Merah, Bishan, Toa Payoh as well as CBD area Raffles Boulevard. For drivers, it takes about 5 minutes to reach the CTE, which is linked to the AYE, and about 10 minutes to reach the PIE.

 

Malls and Other Amenities

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comShopping mall Great World City is located less than a 15-minute walk away from RV Altitude. It will eventually connect to the Great World MRT, located on the Thomson-East Coast line.

RV Altitude is located less than a 15-minute-walk away from Great World City, which has a wide array of retail and food options. The mall recently completed its first phase of revamp to include new tenants. Supermarket Cold Storage remains as the anchor tenant, with Japanese supermarket Meidi-Ya coming on board in June this year. The $50-million redevelopment will eventually be completed in 2020, adding to the mall a total of 50 new tenants as well as three connecting points to the upcoming Great World MRT.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comThe 24-hour fairprice supermarket is located at Orchard Grand Court building, just a 5-minute walk away from RV Altitude.

Hawker fare options abound at Zion Riverside Food Centre, a 15-minute walk away. Otherwise, you can visit the malls along Orchard Road, with the ones closest to the condominium being Orchardgateway and Orchard Central. Just down the road from RV Altitude, there’s the vibrant Killiney Road, which features several food options from casual eateries to bars. RV Altitude’s nearest supermarket, a 24-hour Fairprice, is a 5-minute walk away, located under Orchard Grand Court building. The building also has a Watsons located on the same floor.

 

Schools

RV Altitude’s proximity to two international schools, Chatsworth International School (17-min walk, 4-min drive) and ISS International School (20-min walk, 4-min drive) make it a suitable choice for buying to rent.

For parents with school-going children, River Valley Primary School is located within the 1-km distance and is just across the road from the condominium.

 

Facilities Within

Communal amenities and facilities are all located on the first and second storeys as well as the roof terrace. There is a 19-metre swimming pool that is integrated with features like a pool lounge, heated pool area, a wet deck for sun tanning, a dipping pool and an aqua gym.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comArtist impression of the swimming pool at RV Altitude.

While there is no function room, there are multipurpose spaces to host dinner parties and gatherings including The Dining Space on the first floor, the Pool Deck on the second, and the Grill Cove & Grill Pavilion that come with a BBQ pit on the roof terrace.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comArtist impression of the roof terrace.

Fitness buffs will also enjoy the Sky Gym and Sky Yoga patio, both of which are located on the roof terrace so you’ll get to work out amidst serious views.

 

Floor Plan and Unit Types

All the units are 2-bedroom, with sizes ranging from 441 to 635 square feet. The compact size indicates a strong rental potential. There are six types to choose from:

TYPE A

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comType A is the smallest of the units available at 441 square feet. Doors are sliding to save space. There is a balcony with access from the living room. Both bedrooms share a single bathroom.

TYPE B1

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comThis premium 2-bedroom sits at 570 square feet. Access to the balcony is through one of the bedrooms as well as through the living room. The master bedroom comes with its own en suite unlike in Type A.

TYPE B2

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comLike B1, the master bedroom in this premium apartment has its own en suite. What’s different is that it features two balconies in this layout—one through the living room and the other through the master bedroom. The balcony at the master bedroom is pretty awesome, since you get a 270-view of the surroundings. For folks who like a bright and open home, this is a good choice as the master bedroom comes with L-shaped windows to let in plenty of light. At 603 square feet, it’s a generous space with a slightly larger dining area. Great if you like to entertain.

TYPE B3

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comSized 624 square feet, this layout type features two en suites. The other bedroom also comes with its own pantry, which is great for setting up a little coffee corner or breakfast nook. There’s only a single balcony in this layout, with access through the living room. The communal areas are all in single line, in an open plan. It’s a good choice if you want a more flexible space to entertain your guests in.

TYPE C1 and C2

C1 and C2 are the dual-key apartments offered at RV Altitude. At 624 square feet and 635 square feet respectively, each dual-key unit comes with a shared foyer area, shared common spaces as well as a single balcony. The other bedroom’s en suite features a sliding door, which lends it a hotel-like atmosphere.

Flooring in the communal areas as well as the bathrooms are marble tiles. The bedrooms come with timber flooring, while the balcony will have porcelain tiles. Ceiling heights are at 2.83 metres in the living room. For penthouse units on the 21st storey, it’s at 3.5 metres. There are 20 units available for each type excluding Type A, which has 40 units available.

Entrance is through the basement carpark. Units start from the second storey. Each unit is accessed via a proximity card access system at the lift, while the entrance into the apartment is through a digital lock. Each unit also comes with an integrated camera that features night vision, motion detection, video recordings and alarm notifications.

 

Price Ranges and Comparison

The indicative price for RV Altitude averages to about $2,900 psf, which is in line with the other condominiums nearby. Here’s the price breakdown, depending on the type of unit:

 

TYPE SIZE INDICATIVE PRICE PRICE PSF
2-bedroom (Type A) 441 sqft from $1.311 million from $2,971 psf
2-bedroom Premium (Type B1) 570 sqft from $1.524 million from $2,703 psf
2-bedroom Premium (Type B2) 603 sqft from $1.687 million from $2,799 psf
2-bedroom Premium (Type B3) 624 sqft from $1.732 million from $2,774 psf
2-bedroom Dual Key (Type C1) 624 sqft from $1.757 million from $2,814 psf
2-bedroom Dual Key (Type C2) 635 sqft from $1.807 million from $2,845 psf

Here’s a price comparison with the nearby condominiums:

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comPrice comparison between RV Altitude and the condominiums nearby.

 

Final Thoughts

RV Altitude’s main selling points are its unparalleled convenience to malls, proximity to the future Great World MRT, as well as its exclusive location that manages to retain tranquillity and exclusivity despite being located right at the hub of the action.

If you’re looking to buy to rent, the dual-key apartments are a good choice as they essentially provide you with either two units to rent out or you can opt to stay in one bedroom while renting the other without sacrificing too much privacy. The fact that there are only 140 units at RV Altitude can mean competition for tenants will be less stiff. However, you will want to keep in mind that there are quite a number of condominiums nearby.

River Valley, RV Altitude Analysis: Is This New Freehold Condo at the Heart of River Valley A Worthy Buy?, PropertySGnew.comEntrance to RV Altitude’s showroom.

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