River Modern

River Modern has the best location of any project we've scored. Full stop. Direct sheltered connection to Great World MRT. Fort Canning MRT (Downtown Line) five minutes on foot. Clarke Quay MRT (North-East Line) eight minutes. Three MRT lines walkable from your front door — this doesn't exist anywhere else in Singapore's new launch market. Add River Valley Primary School at 460m — a SAP school, consistently oversubscribed, firmly within the 1km priority zone — and you have a CCR address with both connectivity and school proximity. That combination justifies a premium. GuocoLand's D9 track record is the clincher. Martin Modern (same district) launched at $2,200 PSF and trades at $2,800-3,200 today — +27-45% appreciation. They know this district, they know this buyer, and 90% sold on day one confirms the market agrees.

$3,266 average PSF for a 99-year leasehold in D9. That's the elephant. D9 is dominated by freehold condos. Irwell Hill is freehold at $2,700. Rivière is freehold at $2,600. You're paying MORE for a depreciating leasehold than others paid for permanent tenure. After year 40, the leasehold decay becomes material. By the 2060s, banks start reducing LTV ratios for remaining-lease condos, compressing your buyer pool. This is a capital appreciation play — D9 price history supports the thesis (Martin Modern launched at $2,200 PSF, trades today at $2,800-3,200), but the hold period must be 10+ years to clear stamp duties and capture meaningful gains. And at $2M+ for a 2BR, you're pricing out most HDB upgraders.