The Iveria is a re-development of a 14,579 sqft freehold land formerly occupied by Riviera Point. It was enbloc sold to Macly Group early last year for S$72 Mil. The sale price of the development works out to approximately $1,461 psf ppr (per square foot per plot ratio).
With new Urban Renewal Authority (URA) rules on balcony sizes as well as higher average sizes of apartments, buyers of The Iveria will be glad to know that now is truly an opportune time to purchase. Singapore’s National Development Minister Lawrence Wong said the aim of the rules is to manage potential strains on local infrastructure and safeguard the liveability of residential estates. Within these limits, developers still have the flexibility to provide a range of unit sizes to meet the diverse needs of home buyers.
Indicative Price for a 904 sqft (3 Bedroom plus Study) unit starts from S$2.3XX Mil (from S$2,5xx psf) while other developments not even in Prime District 9 are already transacting above S$2,8XX psf.