GuocoLand’s River Modern condominium sold 90% of its 455 units at its launch on March 7, at an average selling price of $3,266 psf.
The units sold were priced from $1,548,000 for a two-bedroom unit to $6,722,000 for a four-bedroom unit, says GuocoLand on March 8. The highest price achieved was $3,693 psf.
The riverfront development located within River Valley in prime District 9 comprises 455 units spread over two 36-storey residential blocks, with six units per floor in one tower and seven in the other. More than 60% of River Modern’s units are three- and four-bedroom units.
There was strong demand for all unit types, says GuocoLand, with 88% of the 175 two-bedroom units, 95% of the 210 three-bedroom units and 80% of the 70 four-bedroom units sold.
Mark Yip, CEO, Huttons Asia, estimates that more than 35% of units sold were priced from $3 million.
Singaporeans and Permanent Residents accounted for nearly all the buyers. The majority are owner-occupiers, with a range of household sizes, from singles to multi-generational families, according to GuocoLand.
Dora Chng, residential director, GuocoLand, says: “Many of our buyers were drawn to the exceptional attributes of River Modern’s site. They also believed in GuocoLand’s strong branding and our capabilities to deliver homes with efficient layouts, lush landscaping and thoughtful facilities that make for a highly-livable development.”
The River Modern showflat drew more than 7,000 visitors over its preview weekend, which began on Feb 20.
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River Modern is expected to be completed in 2030. When completed, the development will attain the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) certification with Maintainability Badge.
The 99-year leasehold luxury development is situated on a 126,325 sq ft site within River Valley next to Kim Seng Park. Already minutes away from Singapore’s shopping and business districts, River Modern also boasts direct connectivity to Great World MRT Station on the Thomson-East Coast Line via Exit 1, which also offers underpass access to Great World shopping mall.
River Modern also has six retail shops on the ground floor, totalling about 4,300 sq ft of commercial space. The retail units will not be sold. Instead, rental will be collected to subsidise maintenance costs. The units will only be rented out after the Management Corporation Strata Title (MCST) has been set up, after which the committee will then decide on the retail tenant mix to suit residents’ various needs.
More than two cheques per unit’: Huttons
With the strong response, River Modern is the best-selling private residential non-landed project by units and percentage in 2026 so far.
Several major residential projects in the River Valley area were launched last year, recording strong sales. City Developments and Mitsui Fudosan’s Zyon Grand sold about 84% of its 706 units over its launch weekend in October 2025. Allgreen Properties’ Promenade Peak sold more than 54% of its 596 units shortly after its launch in August 2025, while Wing Tai’s River Green sold 88% of its 524 units at its launch that same month.
With 455 units, River Modern is “relatively moderate” in size compared with the recent launches in the area that exceeded 500 units, says Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc. (SRI). “A more manageable unit count allows demand to be absorbed more comfortably while also supporting a more intimate residential environment for future residents.”
Probably the last plot of land along the Singapore River in prime District 9, River Modern attracted more than two cheques for each unit, according to Huttons’ Yip.
“Buyers nowadays have a preference for projects [that] offer them convenience. River Modern offers residents superb convenience with Great World MRT Station at its doorstep, retail shops below the development, Great World mall and River Valley Primary School across the road,” he adds.
In addition, River Modern attracted investors because of the palatable quantum and high rentability of apartments in River Valley, says Yip.
According to Huttons, the three-bedroom units were the most popular among buyers, selling more than 90% at launch. Meanwhile, more than 80% of the two- and four-bedroom units were sold at launch.
The Core Central Region (CCR) “continues to ride a wave of positive buying sentiment”, says Yip. “The shrinking premium of CCR units over Rest of Central Region (RCR) developments presented a value proposition that many buyers found hard to ignore.”
Looking ahead, a residential site at Morrison Lane on the GLS Reserve List opened for tender on Feb 25 to meet potential demand in the River Valley area, notes Marcus Chu, CEO of ERA Singapore. “Against this backdrop, River Modern is expected to be the only large-scale new residential launch in District 9 this year.”
The next potential private launch in the precinct is expected to come from the River Valley Green Parcel C government land sales (GLS) site, with the tender anticipated around April and any resulting development likely to be introduced only around 2027, adds SRI’s Sandrasegeran.
Even so, River Modern benefits from a relatively early land cost base, says Chu. “[This] may offer buyers some insulation against future price escalation as replacement costs for upcoming CCR launches trend higher.”
Geopolitical tensions highlight Singapore’s relative safety
Based on history, past wars in the Middle East have had little impact on Singapore’s property market, says Yip. “Property prices rose by 2.8% y-o-y in 2004 after the outbreak of war in Iraq in 2003.”
Rather, the geopolitical tensions in other parts of the world highlighted the importance of stability and enhanced Singapore’s status as a safe haven, he adds. “The tensions have also roiled the equities market and resulted in wild gyrations. Some buyers may have taken these into consideration and decided that investing in a stable asset such as property may be a better option.”
‘Meaningful’ number of HDB upgraders entering District 9
ERA has observed a higher proportion of Singaporean buyers across recent launches in River Valley and the broader Robertson Quay precinct, a trend that has “become more pronounced since 2024” after the increase in additional buyer’s stamp duty (ABSD) for foreigners in April 2023.
ERA also notes a meaningful number of buyers with HDB addresses in projects launched last year, such as River Green, Promenade Peak and Zyon Grand. This points to upgrader demand, says Chu.
In 2025, Bukit Merah recorded 216 million-dollar HDB resale transactions, while Queenstown saw 173 such deals. This has enabled some homeowners to unlock sufficient housing equity to upgrade to nearby private residences, adds Chu.
“Meanwhile, the average amount spent by HDB upgraders on new homes in District 9 has stayed around $2 million over the years. With savings from cash and CPF, many can still afford a home in District 9, explaining the rise in buyers with HDB addresses in recent launches,” he says.
Photos: GuocoLand
Chart: ERA
Read more about River Modern:
GuocoLand unveils 455-unit River Modern, with prices from $1.548 mil
