Riversound Residences Review (Suburban-North East)

 Went down with wife to take a look again. It was definitely crowded. Just that not sure whether many are buying or just shopping around. But seems more people compare to the preview time. Market recovering fast from the latest round of cooling measures.

Details of this project
Developer: Qingjian Realty (Sengkang) Pte Ltd
Property Address: Buangkok Drive / Sengkang East Drive
Legal Description: Lot 2453K MK21 at Sengkang East Avenue
Site Area:19,549.20 sqm / Approx. 210,427.59 sqft
Type of Development: Full condominium facilities
No. of Blocks / Storey / units 6 blocks / 18-storeys / 590 units
No. of Car park lots 592 carpark lots + 6 handicap lots
Lifts 2 per block (Ratio – 1:3)
Tenure 99 years commencing from 26 August 2011
Expected T.O.P date 31 December 2015
Expected Legal Completion Date 31 Dec 2018

Good Points: 

• Sky Terraces unique and first for Sengkang and Hougang precinct.   
• Very impressive water features all around the estate. Also got SPA pools and Cocoon pavilion
• Marble finishing for masterbathroom flooring and wall (with option to choose homogeneous tile)
• Efficient layout. Spacious bedrooms size even for the compact 3 bedroom. at 1066sqft. 
• 4 bedder also do away with the typical junior master bathroom.....kinda of like this concept as personally think this leads to wastage of space, 2 bathrooms and 1 water closet should be more than enough for a family. 
• Got rain shower for Masterbath.
• Kitchen Electrolux fittings. 

Not so good Points:

• This development is not near to LRT or MRT. The nearest LRT is at Kangkar which one needs to cross a road and then walk...think 5mins-8mins....just not convenient at all without a car. 

•  Not much amenities nearby. Eating places coming up with the new HDB BTO coming up...but one still have to walk. 

• This is just next to Austville EC. I would put across boldly that both Riversound and Austville EC caters to the same customer segment (mostly Singaporeans and PR in the vicinity). It maybe hard to resell this with the EC as competitor in terms of pricing albeit facilities and landscaping better for Riversound, would any future resales buyers consider Riversound over Austville by paying over S$100k to S$200K higher in premiums? 

•  Also, just across the road, a new project is launching....by Allgreen properties. Allgreen managed to get that plot at a low S$290ppr....maybe worthwhile to wait a while before committing.
• Another bad point which was never brought up at all was that not all cars can fit into the 2 basement carparks. There will be cars parked on the surface. In addition, only 6 additional carpark lots given. 596 lots for 590 units. 

Overall, prices after discounts seems higher than the average 850psf quoted on many websites. Compared to Boathouse and H2O residences, this is relatively cheaper. Further discount can be further bargained for serious buyer. Also can try work out a deal for those who have already purchased and share the referral fee which hovers around 1%. Split it means 0.5% share for prospective buyer and existing owner.