Residences At 338a
Overview & Key Facts
Residences at 338A is a quietly exclusive freehold development tucked on River Valley Road in District 9, completed in 2004 by Springstar Properties Pte Ltd. With only 46 units across a single 10-storey block, it is one of those boutique CCR addresses that rarely surfaces in the market — low-profile by design, and valued precisely because of it. Architectural direction was provided by Nikken Sekkei Partnership, the Japanese firm renowned for its precision detailing, which is evident in the development’s considered proportions and clean-lined facade.
The entire residential mix is 3-bedroom, ranging from approximately 1,100 to 1,378 square feet — a deliberate positioning that targets professionals, expatriate families, and seasoned CCR investors rather than a broad demographic sweep. Interior specifications lean toward a restrained luxury: marble flooring, full-height glass windows in the living and dining areas, and hotel-quality bathrooms that still hold up well against 2025 standards when maintained or lightly refreshed.
Transaction records show the development averaging S$2,128 psf over the last 12 months, up from S$2,030 psf five years ago — a slow but consistent appreciation trajectory consistent with prime freehold land in the River Valley micro-market. With just 46 units and relatively infrequent turnover, Residences at 338A rewards patient buyers seeking a stable, income-producing CCR asset in a neighbourhood that continues to attract high-quality tenancy.
Location & Connectivity
Few sub-$2,200 psf addresses in the CCR can claim two MRT stations within 500 metres, but Residences at 338A does exactly that. Great World MRT (Thomson-East Coast Line) sits roughly 460 metres away, while Somerset MRT (North-South Line) is approximately 470 metres in the opposite direction — meaning residents have both an interchangeable and a direct CBD-line option within a short walk. Orchard MRT is about a 7-minute walk, adding the North-South Line’s full range from Jurong East to Marina Bay to the daily commuting toolkit.
For drivers, River Valley Road feeds directly onto the Central Expressway (CTE) and the Ayer Rajah Expressway (AYE) via Alexandra Road. The CBD is a 5–8 minute drive outside peak hours; Orchard Road is walkable. Great World City shopping mall, refurbished and reopened in 2021, is an 8–10 minute walk with supermarket, food court, cinema, and a full suite of F&B anchors. Stacked’s River Valley guide notes that the neighbourhood has quietly become one of the most complete urban-living corridors in Singapore, with Fort Canning Park a short walk away, Robertson Quay dining along the Singapore River, and Orchard Road retail all accessible without a car.
The local food-and-amenity picture is strong: Zion Road Riverside Food Centre (hawker), the Cold Storage at Orchard Grand Court, and the cluster of independent restaurants and bars along Mohamed Sultan Road are all within a 10–15 minute walk. Fairfield Methodist School (Primary) is 350 metres from the lobby — one of the most coveted primary school assignments in District 9.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Fairfield Methodist School (Primary) | primary | Within 1 km |
| Kheng Cheng School | primary | Within 1 km |
| ACS (Junior) | primary | ~1.0 km |
| Singapore Management University | tertiary | ~1.3 km |
| Outram Secondary School | secondary | ~1.4 km |
| St. Anthony's Primary School | primary | ~1.4 km |
| Gan Eng Seng School | secondary | ~1.5 km |
| Gan Eng Seng Primary School | primary | ~1.5 km |
Facilities
Residences at 338A is not a facilities showpiece — with 46 units on a 2,027 sqm land area, it would be architecturally impossible to be one. What the development does offer is well-maintained and appropriately scaled for a boutique residence: a swimming pool with adjoining children’s pool, a reflexology path, a BBQ area, a compact gymnasium, and 24-hour security with covered car parking. The grounds are set with tropical landscaping and water features — the kind of lush, maintained garden that photographs well and genuinely improves the arrival experience on a daily basis.
Residents overwhelmingly use the broader neighbourhood as their extended lifestyle floor. Great World City, a 10-minute walk, provides the gym alternatives, retail therapy, cinema, and dining options that a 46-unit development cannot realistically replicate on-site. Fort Canning Park, at roughly 15 minutes on foot, is the de facto “jogging track and weekend escape” for the development’s owner-occupiers.
“The facilities are small but pristine. The pool is quiet — we almost always have it to ourselves on weekdays. Having Great World City and Robertson Quay nearby means we have everything we need without leaving the neighbourhood.”
— Resident review via PropertyGuru
The low resident count also translates to minimal competition for parking and pool access — a practical quality-of-life upside that larger-development buyers routinely underestimate. Maintenance fees for a boutique CCR block are typically in the S$500–700/month range, which, while not negligible, funds a well-staffed, well-maintained building rather than a sprawling facility roster that goes underused.
Pricing & Market Position
Based on 10 recorded transactions, sale prices range from $2,080,000 to $2,850,000, averaging $2,506,300 (~$2,128 psf).
Rents range from $3,750 to $7,000 per month across 49 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 12.2% (from $1,935 to $2,170 psf).
Neighbourhood Comparison
The natural comparison set for Residences at 338A is the small cluster of freehold and near-freehold boutiques along the River Valley corridor. The Avenir (376 units, freehold, ~S$3,190 psf) is the obvious aspirational benchmark: newer 2021 completion, larger facilities, higher brand recognition — but at a ~S$1,062 psf premium over Residences at 338A, the entry ticket is materially higher. For buyers who need 1,100–1,300 sqft of genuine living space and don’t require a resort clubhouse, the Avenir’s premium is difficult to justify on pure livability grounds.
Against 99-year leasehold competitors — Irwell Hill Residences (~S$2,726 psf, 99yr from 2020) and the recently-launched River Green (~S$3,134 psf, 99yr from 2024) — Residences at 338A offers the freehold advantage at a discount, albeit with older interiors and a smaller facilities footprint. Stacked’s cross-comparison for River Valley highlights a persistent market reality: in the CCR, freehold boutiques built in the 2000–2006 window now trade at a meaningful discount to new-launch leasehold peers on a per-sqft basis — a structural anomaly that long-run investors in freehold titles have historically exploited.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| RESIDENCES AT 338A | Freehold | 2004 | 46 | $2,128 |
| IRWELL HILL RESIDENCES | 99 yrs lease commencing from 2020 | 2021 | 540 | $2,726 |
| RIVER GREEN | 99 yrs lease commencing from 2024 | 2025 | 524 | $3,134 |
| RIVER MODERN | 99 years leasehold | — | — | $3,234 |
| THE AVENIR | Freehold | 2021 | 376 | $3,190 |
| KOPAR AT NEWTON | 99 yrs lease commencing from 2019 | 2021 | 378 | $2,512 |
ShiokNest Scores
Our proprietary scoring system evaluates RESIDENCES AT 338A across multiple dimensions.
What Residents Say
“It’s a small and very private development — barely anyone outside the building even knows it exists. That’s exactly what we wanted. Two MRT stations within a 5-minute walk, Orchard Road shopping and Fort Canning for running. For us, it’s the ideal River Valley address.”
— Owner-occupier review via PropertyGuru
“We rented here for two years. The unit was spacious — a proper 3-bedroom, not the shrunken layouts you see in newer condos. The pool was rarely crowded and security was responsive. Only downside: the gym is very small. We used Great World City’s gym instead.”
— Tenant review via EdgeProp
“Marble floors, good ceiling height, and real storage space. Feels like a premium product even 20 years after TOP. The neighbourhood noise can be audible on lower floors facing River Valley Road — worth checking before you commit to a particular unit.”
— Resident review via 99.co
Strengths & Weaknesses
- Freehold tenure in District 9 (CCR) — permanent land title with no lease decay
- Dual MRT access: Great World TEL (~460m) and Somerset NSL (~470m)
- All 3-bedroom layouts, 1,100–1,378 sqft — far larger than comparable new-launch CCR units
- Architect: Nikken Sekkei Partnership — quality design pedigree visible in proportions and detailing
- Walkability score 89/100 — Fort Canning Park, Orchard Road, Robertson Quay all walkable
- Boutique 46-unit community — pool, parking, lifts rarely congested
- PSF (~$2,128) materially below freehold and even leasehold CCR new-launch peers
- Marble flooring and full-height glass windows — specifications that age well when maintained
- Fairfield Methodist Primary (0.35km) — coveted primary school within Phase 1 registration radius
- Stable appreciation: PSF up from $2,030 to $2,170 over 5 years — consistent low-volatility growth
- Gross yield ~2.47% — below-average even for CCR; not an income play
- Small on-site facilities: compact gym and pool only — no tennis court, function rooms, or larger amenity set
- Original interiors in un-renovated units will require S$60–90k refresh to meet current tenant expectations
- Very low transaction volume (~10 sales per period) — can limit price discovery and exit liquidity
- Lower-floor units facing River Valley Road exposed to road traffic noise
- Land area 2,027 sqm — no room for en-bloc upside at meaningful scale
- En-bloc score 57/100 — moderate interest but small site limits developer attractiveness
- No large-format facilities (no multipurpose hall, spa, tennis courts, or sky terrace)
Verdict
Residences at 338A occupies a specific and defensible niche in the District 9 market: a freehold, architect-designed boutique with dual MRT access at a meaningful PSF discount to newer CCR builds. At ~S$2,128 psf, the development sits well below The Avenir (S$3,190 psf, freehold) and even below 99-year leasehold newcomers like Irwell Hill Residences (S$2,726 psf) and the recently launched River Green (S$3,134 psf). For a buyer who values the freehold title, the Nikken Sekkei design pedigree, and the genuine spatial generosity of early-2000s construction norms, the entry price still looks attractive on a relative basis.
The honest caveat is yield. At ~2.47% gross, Residences at 338A falls in the lower tier of CCR yield performers — a consequence of the premium rents the neighbourhood commands being partially offset by equally premium capital values. Stacked’s River Valley analysis notes this yield compression is a feature of the River Valley micro-market broadly, not a Residences-specific weakness. Investors optimising for yield will find better numbers elsewhere; investors optimising for long-run capital preservation and freehold exposure in an irreplaceable urban corridor have a stronger case here.
The ideal hold case for Residences at 338A is the patient CCR owner-occupier or buy-and-hold investor: someone who values the freehold title, the boutique community atmosphere, and the extraordinary walkability score (89/100) as structural positives that will remain durable regardless of new-launch supply cycles. The development is not positioned to generate near-term rental yield outperformance, but its location at the confluence of the Orchard and River Valley districts, served by two MRT lines, is simply not replicable by any new development at comparable entry prices.