31/05/2026
One of the biggest factors behind my decision was actually land cost movement across Singapore.
The River Modern General Land Sale (GLS) site was acquired at around $1,420 per square foot (psf) per plot ratio (ppr) in February 2025.
About a year later, the Tanjong Rhu GLS site — outside District 9 — was already sold higher at approximately $1,455 psf ppr.
Then came the Newton GLS site at around $1,820 psf ppr. When land prices across multiple districts start moving upward like this, it usually tells us something important about future launch pricing.
And considering that land cost forms a significant portion of total condo development cost, it becomes difficult for future launches to suddenly reverse lower meaningfully.
There’s also another upcoming River Valley GLS parcel located right behind River Modern, which could potentially set a new benchmark for the area again.
To me, this wasn’t just about one project. It was about understanding where the broader Singapore property market may be heading over the next few years.
Follow for Part 3 where I share the moment I almost changed my mind entirely.
