Central Singapore’s most recognisable district is often recognised at its most expensive and prime spot. After all, apartments in central Singapore have got some of the best amenities combined with high levels of access to any part of the island. let’s take a deeper peek into Orchard and its adjacent River Valley area to see what great gems hide in the area!
Beat of the City
If you’re looking to stay in the Orchard area, you probably understand the words “Location, Location, Location”, but location comes at a premium in the Orchard area. We all know that property here is highly priced, but how expensive is it really?
Well, in general, the closer you are to the Orchard Road belt, the more expensive things are going to get.
To get an idea of how expensive things can get, let’s look at the ultra-luxurious New Futura on Leonie Hill Road. This condominium is one of the most sought-after addresses in the Orchard area, and we can tell why.
This CDL development is a twin 36 storey, 124 unit luxury living condominium that is 7 minutes walk to Orchard Road that boasts sky terraces, sky pools, waterfall and plenty of green space. With design Inspired by the original Futura, and then executed by award-winning architects Skidmore, Owings & Merrill, units at the New Futura are well into the $5000 per square foot range. At it’s most expensive, a 7836 sq ft apartment would cost $39,800,000, which comes down to about $5079.12 per sq ft.
Coming in at the same proximity to Orchard Road is The Marq on Patterson Hill. It is also a short walk to the Orchard Road area, but come in at a much better price. Buyers can expect to come in below $5000 per sq ft, and while this isn’t exactly “cheap”, it is almost 10% less than apartments at New Futura. A 6157 sq ft apartment, for example, comes at an asking of $29,800,000, or $4840.02 per sq ft.
River Valley, on the other hand, is a different animal altogether. River Valley Road has condominiums that run the price gamut, mostly because the developments on this road can fall into Districts 6, 9 or 10.
On the Robertson Quay side of things, you can get a very reasonably priced 1464 sq ft condominium at UE Square for a $1605 per sq ft rate, but be much further away from Orchard Road. However, you’re situated at a 7-minute drive away from the CBD, and there are some great leisure, F&B and shopping options in the Robertson Quay area.
The price per square foot rises closer to the Oxley Road side of things, with Oxley Edge apartments asking for some of the highest in that zone. A 398 sq ft apartment at that development is at a $2386 per sq ft price. That’s $950,000 for that small spot!
However, the development is 10 minutes walk from Robertson Quay and Orchard Road, so its premium comes from being right on the edge of the Orchard district.
Orchard rentals are also on the higher side, with apartments on the Orchard Road belt commanding a whopping $7 per sq ft. Scotts Square, for example, has a recent 635 sq ft listing going at $4,600 per month. That translates to a $7.24 per sq ft price.
Once you go a little off the main Orchard belt, however, you’ll start to see large apartments at a lower per square foot price. A recent listing of an 1722 sq ft apartment at The Light @ Cairnhill is asking for $6800 per month rental, which breaks down to $3.95 per sq ft.
River Valley’s Oxley Edge is actually an interesting preposition. It sits on the border of the Orchard area but doesn’t command that price premium on a quantum basis.
Apartments are new but generally smaller, so a 431 sq ft unit in this development is asking for $2800, or $6.50 per sq ft. This place does have an amazing proximity to Robertson Quay and Orchard Road, so you might want to consider it if you’re looking for comfort and convenience.
If you’re balking at that high per square foot costing, then you might want to look a little further down the road. Older condominiums still give you that proximity at a better price, even if they are a little less fancy. A great example would be a recent listing for a 1324 sq ft apartment at Aspen Heights. This 3-bedroom apartment has an asking for $4800, or around $3.63 per sq ft. It’s larger, so while the quantum is higher, you get more space for the price you’re paying.
Investing in the Future
Apartments in the Orchard area do seem to be after luxuriously priced, but the general outlook of the property market in landlocked Singapore points to higher prices with centrally located areas like Orchard to benefit the most as prices rise.
After all, staying in the Orchard area guarantees almost limitless access to great buys and good food. There are no lack of supermarkets as well, with a Fairprice Finest at Scotts Square, an Isetan at Shaw Centre and even a Don Don Donki at Orchard Central.
River Valley units are generally larger, and the area does feel quieter, so it is perfect for families. Depending on where you choose to stay, you could end up near Robertson Quay with amazing F&B choices, or you might even be closer to Great World City, which boasts a Cold Storage
supermarket, cinema, and a spread of food and shopping options.
While both places are above average in pricing, there’s little doubt that apartments in the area carry way more exclusivity and command a price premium. For those in the market for convenience, luxury, and a higher future asking price, the Orchard and River Valley locations are amazing choices.