Rivervale Crest

The ground under it was tendered in 1997. Both ends of that are public; nobody puts them together.

The land under Rivervale Crest

HDB put this parcel out to tender and names Rivervale Crest as what was built on it. Everything below is from that tender: the dates, the winning price, and the number of bids received.

  1. Tender launched30 May 1997
  2. Tender closed24 Jul 19977 bids received
  3. Awarded8 Sep 1997NTUC Choice Homes Co-operative Ltd
  4. Winning tenderS$203,198,000S$3,003 per sq m of gross floor area · S$279 per sq ft
Parcel
Sengkang N1NC Rivervale Drive
Site area
22,553 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
67,660 sq m
Sold as
Mixed

What the land cost and what a unit sells for are not two ends of one sum. Between them sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold units. None of those is published for a named project, so this site does not estimate a developer’s cost or margin and no figure here should be read as one.

Source: HDB — Sites Sold by HDB · tender awarded 8 Sep 1997 · transcribed from HDB’s published tables on 2026-08-31 · prices are nominal and are not adjusted for inflation. HDB names the development on this row as “Rivervale Mall & Rivervale Crest”. This parcel, from tender to today · Every land sale

What has been filed there since

1997 · the groundS$203,198,000S$279 per sq ft of gross floor area
Today · the homes on it$994median of 88 filed transactions, 2021-09 to 2026-09

Those two are not the same square foot. Gross floor area includes what nobody buys — the corridors, the car park, the plant rooms — so the land rate is spread across more area than a unit is sold by. The ratio is arithmetic on two published figures and is not a return, a profit, or an appreciation.

Year by year, for a median-sized unit

100–110 sqm band. Counts in brackets; a year with fewer than 3 filed sales is kept and marked rather than dropped, because a reader can discount a thin year and cannot discount one that was silently removed.
YearMedian psfAgainst the year before
2021$841 (1)—
2022$855 (3)+1.7%
2023$987 (3)+15.4%
2024$907 (4)-8.1%
2025$1,101 (1)+21.4%
2026$1,122 (1)+1.9%

The two ends of this page are not two ends of one sum. Between the tender and the first unit sold sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold stock. None of those is published for a named project, so nothing here estimates a developer’s cost or margin and no figure on this page should be read as one. Why that is refused.

The rest of it