This is my review for RV Altitude, a small development in a land-scarce location of River Valley road in Singapore. The price will be released during the sales launch date coming soon.
RV Altitude – A freehold condominium with 140 residential units on the land area of 28,798 sq.ft. located on River Valley road. RV Altitude is only a single tower, there are 6 unit types of 2-bedroom apartments.
Location and Surroundings:
Great World City – RV Altitude is close to Great World City which is a huge 6-storey shopping mall, 18-storey office building and 35-storey serviced apartment building complex. Great World City is going to have a major refurbishment which links via underground walkway to upcoming Great World MRT. The enhancement works will begin mid-April, ahead of the opening of the Great World MRT Station and expected to complete by 2020.
Limited land available – There is limited empty residential land available around the River Valley area for development. This scarcity is likely the reason average prices for new launches around the area have exceeded $3000 psf.
Prices and comparisons:
There have not been any newer developments along River Valley Road near RV Altitude since 2011. The resale prices around the area for most boutique condominiums built from 2006-2011, go for around $2000-2100 psf. There is little resale activity in that area for the past 2 years with only 16 units transacted. However, rental yield is quite decent at 2.7-2.8%
Luma – 9 units transacted since Jan 2017
2 RVG – 7 units transacted since Jan 2017
The following graph shows the average prices for recent new launches around the area.
RV Altitude is selling at an average price of a whopping $2800-2900psf which in my opinion is insane to justify considering it has minimal facilities.
Developer’s Track Record:
Roxy-Pacific an established brand name in property development for small to medium size residential developments. Between 2004 and 2017, the Group developed and launched 44 small-to-medium sized developments comprising a total of more than 4,300 residential and commercial units in Singapore Malaysia and Australia. They are also developer’s for recent new launch Fyve Derbyshire. Some notable projects include The Navian, Arena Residences, and Straits Mansions Condominium.
I do not think RV Altitude is a worthy investment choice as typically smaller developments will have higher maintenance fees which will affect rental yield. The project seems very mediocre in terms of its quality compared to what is available now in the market. I personally believe there is better Core Central Region (CCR) new condos to consider such as Fourth Avenue Residences and 8 Saint Thomas
Value for money: ⭐⭐2/5
If you would like to have the RV Altitude brochure, floor plans or pricing, do inform us.