*This article was written on 28 Feb 2023 and does not reflect data and market conditions beyond.
Riversails Condominium is located along the serene banks of the Serangoon river in the picturesque area between Hougang and Buangkok. The development benefits from its location near green spaces and waterways, which create a peaceful and calming environment. This tranquil atmosphere offers a relaxing living experience, making Riversails Condominium an attractive option for those seeking a comfortable and serene living space.
Our guide provides an objective evaluation of living in Riversails Condo, covering aspects such as its location, price, floor plans, and more. Whether you are considering purchasing a unit in this development or seeking to gain a better understanding of what it’s like to reside in Riversails Condo, this review serves as an informative resource. Let’s dive into the details and discover what makes Riversails Condo a desirable option for those seeking a comfortable living experience.
Location Analysis
Riversails is found on the fringe of Hougang, bordering Buangkok. It is located along Sungei Pinang but is also on the west bank of the Serangoon River. Hougang heartlands are found in the North-East part of Singapore, and are home to plenty of Singaporeans. As heartlands go, there are plenty of amenities and educational institutions to cater to the high population density of these areas.
Riversails is approximately 1.1km away from Buangkok MRT station (10 minute bus ride) and around 1.2 km away from Hougang MRT station (12 minute bus ride). Riversails is also close to Buangkok East Drive, which connects to the KPE on the way to the city centre (20 minute drive).
Riversails Condominium is an excellent choice for families with young children or couples planning to start a family due to its affordability, spacious unit sizes, and proximity to several primary schools. The development is conveniently located within a 1 km radius of several reputable schools, including North Spring Primary, North Vista Primary, Punggol Primary, CHIJ Our Lady of Nativity (Primary), North Vista Secondary, and Serangoon Secondary.
This close proximity to schools provides residents with easy access and convenience for their school-going children. The availability of larger units in Riversails Condominium also makes it a suitable option for families with children, providing them with ample living space. Overall, the development is a practical and appealing choice for families seeking a comfortable and convenient living experience.
In terms of amenities, we have a NTUC Fairprice supermarket 150m away (less than a 5 minute walk) to the east, across upper Serangoon road. As for shopping malls, we have Hougang Mall (1.2km away, near Hougang MRT) and we have the upcoming Sengkang Grand Mall as an exciting new addition in March 2023.
Site Plan & Unit Distribution
Riversails Condominium features a variety of 1 to 4 bedroom unit layouts, with a total of 920 residential units spanning 12 blocks of 18 floors. There are 8 blocks featuring a point block design with 4 stacks each, offering enhanced privacy to residents while ensuring ease of lift service with only 4 units per floor. The point block blocks are blocks 2, 4, 14, 16, 18, 20, 22, and 24. The other four blocks have a lattice-like structure with 6 stacks per block, surrounded by a central core. These are blocks 6, 8, 10, and 12.
The above site plan provides a clear view of the layout of the blocks. The point blocks have a slight westward (blocks 14, 16, 18, 20, 22) or eastward tilt (2, 4, 24), they have close to a north-south orientation that minimises direct exposure to the morning and afternoon sun in most residential developments. On the other hand, the lattice-like blocks have some stacks that are exposed to the morning east sun. These stacks are 11, 12, 15, 16, 17, 18, 21, 22, 24, 25, 28, 29, 30, 31, 34, and 35. These blocks host most of the larger 3 and 4 bedroom units.
Riversails consists of predominantly 2 and 3 bedroom units, which are spread evenly throughout the development (46 out of 56 stacks). The 1-bedroom units take up only 6 stacks and are all found on block 2, which is located near the southwest exit of the condo. This huge range of 2 and 3 bedroom options ensures potential home buyers have a variety of choices when selecting the ideal unit size, layout, and block orientation to match their individual preferences.
Price Analysis
Between 2012 and 2022, the average price per square foot (psf) of Riversails increased by approximately 38%, reaching an average price of $1,192 psf in 2022. Of the 920 residential units available, 43 were transacted in 2022, accounting for approximately 4.7% of the total units. Interestingly, the increase in average psf from 2016 (the TOP year) to 2022 was approximately 20% (annualised 3.3%), which is only marginally lower than the increase from the launch year to the TOP year, which was 14% (annualised 3.5%). This highlights the profitability of buying and holding a TOP property.
After analysing the growth rates of Riversails, Riversound Residence, and Heron Bay in the chart below, we found that Heron Bay experienced the highest growth rate of 45% from 2012 to 2022. In comparison, Riversails had a growth rate of 38% during the same period. This difference in growth could be attributed to the fact that Heron Bay was an Executive Condo, which launched at a lower psf than regular condominiums, providing more affordability for buyers. Meanwhile, Riversound Residence, which is also a condominium, had a slightly lower growth rate than Riversails at 35% (2012-2022).
As of 2022, the average price per square foot (psf) for Riversails was $1,192, while Riversound Residence was priced at $1,169 psf, and Heron Bay was priced at $1,071 psf. In 2012, these properties were priced at $865 psf (Riversails), $863 psf (Riversound Residence), and $737 psf (Heron Bay), respectively. The difference in prices among these properties can be primarily attributed to their status as either a condominium or an Executive Condominium. Even after the Minimum Occupation Period, the price differences persist, albeit with a smaller gap. Therefore, prospective buyers should evaluate the various projects in the area together and assess if there are any significant differences in quality of life that justify the price differences.
MOAT Analysis
To provide a thorough and unbiased assessment of Riversails, we conducted a comprehensive MOAT Analysis that evaluates the property from various angles. As a resale condominium, we compared Riversails with four other nearby resale options of a similar age. Our MOAT Analysis examines Riversails based on ten different dimensions to provide a well-rounded and impartial view of the property. To gain a deeper understanding of our MOAT Analysis, please refer to our informative article here.
We compare Riversails (920 unit condo, TOP 2016, 99-year leasehold from 2011) with Austville Residences (540 unit EC, TOP 2014, 99-year leasehold from 2010), Boathouse Residences (493 unit condo, TOP 2015, 99-year leasehold from 2011), Heron Bay (394 unit EC, TOP 2015, 99-year leasehold from 2012), and Riversound Residence (590 unit condo, TOP 2015, 99-year leasehold from 2011).
You can see from their MOAT profiles below that there are slight variations in their Volume Effect, and Region Disparity score. Most of the other factors look more or less the same. The final MOAT scores are as follows: Austville Residences 64%, Boathouse Residences 64%, Heron Bay 62%, Riversails 66%, Riversound Residence 64%. This puts Riversails at the highest for total MOAT score among these comparable properties.
The difference in the MOAT score between the five condos and ECs is quite intuitive. The key factors leading to the difference in the scores are the type of condo and size of development. Compared to Riversails, other surrounding ECs have a lower average psf due to their subsidised status. The slightly lower average psf of ECs translates to a higher regional disparity score as they are priced lower than the average for the region.
Larger sized developments like Riversails, which has 920 units, also do better on the Volume Effect due to the higher amount of units available for transactions. Overall, Riversails still put up a strong performance in the MOAT Analysis. This is coupled with its decent performance in growth, even after its TOP.
Floor Plan Analysis
In this section of the article, we aim to provide you with a detailed overview of the various floor plans available for Riversails. Our comprehensive coverage includes floor plans for each of the different bedroom sizes available, ranging from 1-bedroom to 4-bedrooms, giving you a clear idea of the options available to suit your living requirements.
Block 2 of Riversails holds all the 1-bedroom apartments in the condominium complex. The A1 layout features a squarish design with efficient use of space. With an open concept of seamlessly moving from the dining, to living, to the master bedroom. There is also a balcony to provide ample lighting to the living space and bedroom, as well as balance out the outdoor and indoor spaces. Overall, the 1-bedroom layout is efficient, maximising the functionality of the home.
The 2-bedroom option (B1) provides even more living space, with 882 square feet. The L-shaped kitchen is tucked facing towards the block, with a home shelter available all the way at the back. The dining and living space will enjoy ample lighting from the balcony. A short corridor connects the living area with the Master bedroom, second bedroom, and second washroom. This living space would be very comfortable for young couples and smaller families.
The 3-bedroom option at Riversails comes in with a 1,108 sqft offering. The key difference apart from the additional bedroom is the yard and additional washroom at the back. The layout starts to get a little bit elongated, with the dining and living room being aligned horizontally in the floor plan. This is the most common 3 bedroom type (C4), and is found on the lattice-like stacks. For stacks 11, 16, 17, 21, 24, 29, 30, 35, buyers would need to be aware of the east morning sun and probably install some solutions like Ziptrak to keep out the direct sunlight in the earlier part of the day.
The 4-bedroom unit (D1) brings 1,367 square feet of space to the table. This size is suitable for larger families or multi-generational families with a live-in helper. The Master bedroom and bedroom 2 are both en suites. The third and fourth bedrooms share a common washroom with the living space. There is also an extra toilet at the back of the kitchen, attached to the yard. Bedroom 4 enjoys the same balcony space and natural lighting as the living and dining room. While this is an elongated layout with a common corridor cutting through the middle of the unit, connecting all the rooms, the layout is still reasonably efficient. Homeowners should find creative ways to use the corridor space.
The most exciting and unique layouts in Riversails are actually their Penthouses, which sport two main variations. The larger elongated layout (PH2, 2400 sqft) or the more squarish penthouse layout (PH11, 1819 sqft). The elongated layout is a duplex with an open-roof concept which sports 3 bedrooms and 4 washrooms. The dining and living area are partitioned on the left and right sides of the unit, respectively. There is an additional utility room for families with a live-in helper. The key points are the 3 open terrace spaces on the first floor along with the covered balcony. The second floor is a large open terrace. This is suited for medium sized families with a love for sun and outdoor spaces within the home.
The squarish penthouse layout (PH11) is unique in the sense that it resembles the 3-bedroom layout with the addition of the large open terrace on level 2. This penthouse layout is more efficient but also more compact, with no partitioning between the living and dining areas. This might be the key distinguishing feature for some families. There is also no additional utility room. The open terrace on the second floor does have an added planter area.
Overall, the 920 units that Riversails bring to the table come in all shapes and sizes. While there are no 5-bedroom units, the large variety of layouts come at a palatable price and remain affordable for middle income families.
Growth Potential
The main drivers of growth for Riversails would be the integrated transport, residential, and commercial hub in Buangkok Integrated Development. Sengkang Grand Mall will also be opening in March. These added amenities will make a more immediate impact to the area in terms of amenities. A community hub will also provide more activities and recreational options for residents in the neighbourhood.
Another driver of growth in the medium term would be the Cross Island Line, which connects to the nearby MRT station of Hougang. This will improve the connectivity of Riversails to both the east and west end of the island. The added connectivity will matter especially for people who work in the Changi area or Jurong Lake District.
It is not only that, but commutes to various different parts of the island will also be significantly improved with the new Cross Island Line. Phase 1 of the CRL, which is projected to be finished by 2030, will consist of a total of 12 stations. These stations are expected to include Aviation Park, Loyang, Pasir Ris East, Pasir Ris, Tampines North, Defu, Hougang, Serangoon North, Tavistock, Ang Mo Kio, Teck Ghee, and Bright Hill.
Overall, there are still fundamental reasons to be optimistic about future growth potential of this residential estate and we can see Riversails benefitting from the added amenities and connectivity of the area. That being said, surrounding projects will also benefit from these developments. Prospective buyers should also compare and analyse the other alternatives in the same estate.
The Verdict
Riversails is a condominium located in the heartlands of Hougang, providing an opportunity for homebuyers to own a spacious and modern home. Being an OCR resale condo in District 19, it offers an accessible price point that is appealing to middle-income Singaporeans and HDB upgraders. The development features various layouts and facilities suitable for families of different sizes. Its strategic location provides easy access to essential amenities such as schools, supermarkets, and parks, making it convenient for residents. Overall, Riversails offers a comfortable living experience that caters to the needs of homebuyers seeking an affordable option in the area.
If you’re looking to learn more about Riversails or if you’re a current homeowner thinking about selling your unit, we invite you to watch our video on how we sold a 2-Bedroom Duplex in this project. Additionally, we have another 3-bedroom duplex penthouse video for your perusal.
