The Iveria is an exquisite new development right in the heart of River Valley situated in the prime locale of District 9. Its chic interiors and sleek outer form, truly make it a spectacle to behold. The site is within the cosmopolitan area of Robertson Quay, on the intersection of Kim Yam Road and River Valley Road, where there are no shortages of local amenities for residents to enjoy. The Iveria is closely located by an array of shops, restaurants, bars, leisure clubs, and schools making it the ideal location for any type of resident.
The Developer of Iveria
The plot of land The Iveria is on was previously owned by Rivieria Point before being purchased by Singapore property development company, Macly Group, in 2018 for over s$72 million as part of the Ove Collection. The Macly Group has completed many other successful residential projects, such as Guillemard Edge which launched in 2012 and that sold out within the two weeks. The company is among the few to pioneer affordable and compact design trends, with rates starting from s$2,500 psf. There is much hope that on completion of Iveria Condo in 2022 that these apartments will equally sell out fast. The brand’s ethos is to create homes that allow people to express who they are, and therefore the use of a neutral palette throughout the design.
The Iveria Design
The Iveria design was inspired by the cosmopolitan lifestyle of New York City and is being built to convey this bold, trendy, and forward-thinking culture. Much thought has been put into the design process to exude a sleek and luxurious lifestyle for its residents. The design is both aesthetically pleasing and also practical containing ample wardrobe and floor space. The choice of design is minimal and contemporary as with any other high-end condo. It has stunning architectural designs throughout with stylish interiors, and a tall and sleek outer structure that truly epitomizes contemporary living within a prestigious city location.
The Iveria specifications
The Iveria is a rare freehold development spanning over 14,691.78 square feet. It is proposed to be completed by the fourth quarter of 2022. Once completed, it will comprise 51 residential units over 18 storeys which will only have one type of unit. All the units will consist of 3 bedrooms plus a study room. The total floor plan for each apartment will be between 904-947 square feet.
The Iveria apartment tower is situated at a right-angle to both Kim Yam Road and River Valley Road. With that, the building has two accessible frontages between 30-35 meters which have the potential to obstruct the views of residents on the lower levels. While the units on the higher floors will be able to enjoy the views of Orchard Road northward, and the Marina Bay and city skylines that are in the South-Eastward direction.
The Iveria Features and Benefits
The River Valley District is part of the prime residential locations in the whole of Singapore. It’s close to the Marina Bay and Raffles Place financial services. It welcomes and will attract both families and single professionals.
The estate will encompass an array of features and benefits, such as marble flooring throughout, concrete feature walls, generous sized balconies for multiple uses, and beautiful landscape views for absolute peace of mind. Residents of the upper floor units will be able to enjoy unhindered views of Orchard Road and the city’s horizon while the residents on the lower floor units will overlook the Oxley area. Each unit will contain a light-fitted master bedroom with glass-encased wardrobes, elegant interior architecture with grand bathroom and kitchen fittings. Each kitchen will be fitted with prestigious appliances from brands such as Gaggenau and Bosch. The condo will also boast of a multitude of facilities such as the Sky Deck, Cascading Terrace, Gourment Dining Area, a Sun deck, poolside deck, an infinity pool and automated valet parking service with a complete car parking lot having 51 spaces and a 9 spaced bicycle lot.
Local Facilities and Amenities to Iveria
There are abundant local amenities within a mile radius from the Iveria condo. The UE Square is about 10 minutes walk while the coveted riverside lifestyle of Robertson Quay is only moments away. Robertson Quay is approximately 8 minutes, which is famous for its fabulous ambience, feasting, wining and dining, and it is situated close to the Singapore River. There is something to do for everybody. The Robertson Quay oozes cosmopolitan living. It comprises various restaurants, pubs, alfresco cafes, eateries and craftsmen shops. Also, there are 24 -hour -run supermarkets, shopping malls, bars and transport links a stone throw away from the condo. There is also a range of preschools, primary schools, secondary schools, Universities, International schools, as well as vibrant leisure clubs and groups within the locality of the Iveria condo. Killiney clave is also nearby which contains rows of coffee houses that offer traditional coffee and local food. The Orchard Shopping Belt, the country’s busiest, largest and most elegant enclosed mall, is only a casual stroll away of approximately 15 minutes. Additionally, they are a host of other shopping malls within the local vicinity. The Iveria is walking distance, approximately 600 m away, from Somerset MRT Station and North-South MRT Line. The area also features good bus transportation links.
There are only three units types of floor plans in Iveria and they are all 3+ study sizes ranges from 904-915 sqft
Investment Breakdown Analysis
At an average of $2500/psf and freehold is very attractive in terms of pricing in a prime area like river valley in district 9. From the chart below, you can see the price comparison of all the nearby new launches and Martin modern is selling at an average of $2641 despite only a 99 leasehold tenure. The Avenir which was launch just beginning of the year is selling at least $700/psf more just mins away. To enter at $2500/psf is a very safe and undervalue investment with such a price gap.
As you can see, the price is indeed a major selling point for this development . Lets compare the nearby resale developments. In river valley , an average 3 bedroom starts from $3.3m on average in today’s market. Though larger in size, i believe the resale market in the future will be easily attracted by the lower quantum and newer facilities of Iveria. Another important key point is that there is also no more free land for government land sales around the vicinity as the last land sale was sold to built Martin Modern. This scare supply in singapore most prime area is very favorable for Iveria as future enbloc prices will definitely push past the $3000/psf mark.
Investment into Iveria Condo
The land that the Iveria condo is situated on was purchased at a comparatively cheap rate for a freehold tenure plot in the Orchard Road District, so profit margins with regards to the return of investment can be predicted to very large upon launch. Likewise, investors who are looking to invest in both quality and affordable real estate would be attracted to the thriving location the condo is in and the potentially high rental yields to come. The site is favorably located near the chic Clarke Quay and Robertson Quay districts alongside a host of useful amenities, the forecasted rental income for each unit can easily be estimated to be favorable.
The Iveria condo residential development project is a mid-density project that is due to complete in the next 3 years. It will undoubtedly add great value to businesses in the D9 area and be well-received by both families and professionals alike.
Who is it for
- Any investors looking good rental yield and undervalue property
- Anyone who wants to live near the hip Robertson Quey area
Iveria seems to have it all , location, price, etc. There might be a lack of facilities in the development but who needs all this when everything you need can be found just 5 mins walk around. This undervalue iconic development is a must look at if you are interested buying into CCR. Highly recommended.
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