The Riverina
Overview & Key Facts
The Riverina is a 215-unit landed housing estate along Riverina View in District 18, developed by Ho Bee (Pasir Ris) Pte Ltd — a subsidiary of Ho Bee Land, one of Singapore’s most established property developers listed on the SGX mainboard since 1999. Completed in 2000 on a 99-year lease from 1996, the development retains approximately 69 years on its tenure today. Ho Bee’s reputation extends from luxury homes at Sentosa Cove to large-scale commercial investments across Asia-Pacific, and The Riverina benefits from that pedigree in its construction quality and estate planning.
The development comprises a mix of terrace houses, semi-detached houses, and detached houses — a genuine landed enclave rather than a condominium, offering 4 to 6 bedroom configurations across three-storey layouts. At an average PSF of $1,410 and an average transaction price of $2,445,301, The Riverina occupies an interesting niche: landed living in the OCR at a quantum that, while substantial, sits well below freehold landed equivalents elsewhere in Singapore. The 215-unit count creates a cohesive community without the anonymity of larger estates.
The rental story is respectable for a landed property: average rent of $6,135 per month with a median of $6,200 produces a gross yield of approximately 3%. For a landed development, that yield is workable — landed properties typically trade yield for lifestyle and capital appreciation. However, the PSF trend tells a more cautionary tale: the trajectory from $1,396 down to $1,250 in recent periods signals that the market is beginning to price in the 69-year remaining lease. Buyers entering now should understand they are purchasing lifestyle value in a beach-adjacent landed enclave, not a growth asset.
Location & Connectivity
The Riverina sits within one of Pasir Ris’s most distinctive landed pockets — an enclave roughly bounded by Pasir Ris Heights, Pasir Ris Drive 3, Riverina View, and Pasir Ris Road. The neighbourhood’s proximity to Pasir Ris Park and beach is its defining feature, offering a coastal lifestyle that is genuinely rare in Singapore’s landed market. The 6-hectare mangrove forest within Pasir Ris Park, the beachfront boardwalk, and Downtown East’s Wild Wild Wet and Escape Theme Park are all within easy reach — a recreational ecosystem that no amount of condo facilities can replicate.
Pasir Ris MRT (EW1) on the East-West Line is approximately 770 metres away — a 10-minute walk that is functional but not sheltered for its full length. The upcoming Tampines North MRT on the Cross Island Line, expected around 2029, will be approximately 1.23 km away and may improve connectivity options. For drivers, the Kallang-Paya Lebar Expressway (KPE) provides efficient access to the CBD and central areas, with off-peak travel times of approximately 25–30 minutes. The Tampines Expressway (TPE) is also readily accessible for north-bound journeys.
Daily amenities are within a reasonable distance. White Sands mall at Pasir Ris Central provides the primary retail anchor with supermarket, food court, and essential services. Elias Mall and Pasir Ris West Plaza offer supplementary options. Giant Express and Sheng Siong supermarkets serve grocery needs. The walkability score of 60/100 reflects a location that is liveable without a car but significantly more comfortable with one — typical of landed estates island-wide.
The school proximity is a genuine strength for families. White Sands Primary School sits 810 metres away and Pasir Ris Primary School at 820 metres — both within the critical 1 km MOE priority zone for Phase 2C primary school registration. This is a material advantage that many landed estates in less mature neighbourhoods cannot offer.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| White Sands Primary School | primary | Within 1 km |
| Pasir Ris Primary School | primary | Within 1 km |
| Pasir Ris Secondary School | secondary | Within 1 km |
| Pasir Ris Crest Secondary School | secondary | ~1.2 km |
| Brighton College (Singapore) | international | ~1.2 km |
| Elias Park Primary School | primary | ~1.3 km |
| Stamford American International School | international | ~1.4 km |
| Meridian Secondary School | secondary | ~1.4 km |
Facilities
The Riverina is a landed estate, not a condominium, and its “facilities” are fundamentally different from what condo buyers expect. There is no clubhouse, no swimming pool, no gymnasium, and no tennis court within the development itself. What it offers instead is the landed proposition: private outdoor space in the form of patios, backyards, and car porches that are exclusively yours. Each house features a three-storey layout with a generous backyard area suitable for gardening, al fresco dining, or children’s play — private amenity space that no shared condo pool can substitute for families who value exclusivity.
The estate’s real amenity is its surroundings. Pasir Ris Park is the de facto “facilities deck” for The Riverina — a 70-hectare park with cycling trails, jogging paths, BBQ pits, a mangrove boardwalk, bird-watching hides, and direct beach access. For active families, this is vastly superior to any condominium’s half-acre of landscaped grounds. The nearby Downtown East complex adds a water park, bowling alley, cinema, and food options that serve as extended recreational amenities.
“Living here you trade the condo pool for the beach and Pasir Ris Park. On weekends, the kids cycle to the park in minutes. You can’t put a price on that kind of outdoor lifestyle in Singapore.”
— Resident feedback via PropertyGuru
The 6.0/10 facilities rating reflects the honest trade-off of landed living: you sacrifice shared premium amenities for private space and natural surroundings. For buyers who swim daily and use a gym nightly, this is a genuine downside. For families whose lifestyle revolves around outdoor activities, gardening, and private entertaining, The Riverina’s proposition is arguably stronger than most condominiums at this price point. The maintenance of common estate areas — roads, drains, lighting — has been adequate, consistent with a development of this age and scale.
Unit Sizes & Layout
The Riverina offers three house types: terrace, semi-detached, and detached houses, with configurations spanning 4 to 6 bedrooms. The three-storey layouts are generous by Singapore standards, with typical terrace units offering approximately 1,600–1,800 square feet of built-up area, while semi-detached and detached units extend significantly larger. Each house features a living room, dining hall, wet and dry kitchen, family area, common washroom, storeroom, car porch, and a spacious backyard — the kind of functional, family-centric layout that Ho Bee is known for in its landed developments.
At $1,410 average PSF, the quantum averaging $2,445,301 reflects genuinely spacious homes. The size-to-price ratio is compelling when compared against smaller condominium units in the same district — Treasure at Tampines at $1,584 PSF buys a fraction of the living space. For families upgrading from HDB 5-room or executive flats, the jump to landed living at this price point is achievable, particularly with the proceeds from an HDB sale in the eastern corridor.
The year-2000 build vintage means layouts are practical rather than contemporary. Kitchens are functional but may lack the open-concept flow of newer developments. Bathrooms and fittings will likely require updating for buyers accustomed to modern finishes. However, the structural bones — high ceilings, generous room sizes, natural ventilation through multiple storeys — are assets that renovation can enhance but cannot create from scratch. Many owners have invested in tasteful renovations that modernise the interiors while preserving the spacious feel.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 4 BR | 29 | $1,383 | $2,248,437 |
| 5 BR | 22 | $1,116 | $2,708,108 |
Pricing & Market Position
Based on 51 recorded transactions, sale prices range from $1,610,000 to $4,250,000, averaging $2,446,726 (~$1,422 psf).
Rents range from $4,100 to $8,500 per month across 18 rental transactions. Current rental yield sits at approximately 3.1%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 31.3% (from $1,065 to $1,398 psf).
Neighbourhood Comparison
In the District 18 competitive landscape, The Riverina’s positioning is unique because it is a landed estate competing for mindshare against condominiums. Treasure at Tampines ($1,584 PSF) is the mega-development benchmark in the area with 2,203 units, a comprehensive facilities suite, and a 99-year lease from 2019 offering roughly 92 years remaining. For buyers who want modern condo living with full amenities and better lease runway, Treasure offers a clear alternative — but at a 12% PSF premium and in a fundamentally different living format.
Parktown Residence ($2,369 PSF) represents the new-launch premium segment — a 68% PSF premium over The Riverina. The fresh 99-year lease and contemporary design attract a different buyer profile entirely. The comparison is instructive mainly for context: at Parktown’s PSF, The Riverina’s $2.45M average quantum would buy barely 1,030 square feet of condo space, whereas it commands a multi-storey landed house here.
Pasir Ris 8 ($1,678 PSF) is perhaps the most relevant comparison for MRT-prioritising buyers, given its integration with Pasir Ris MRT station and a retail podium. The 19% PSF premium over The Riverina buys convenience and a longer lease, but in a high-density mixed-use format that is the antithesis of landed tranquillity.
The honest competitive assessment: The Riverina’s value proposition rests entirely on the landed lifestyle premium — space, privacy, beach proximity — at the lowest PSF in the competitive set. On pure investment metrics (lease runway, capital growth trajectory, exit liquidity), it trails every competitor listed above. For buyers who have run the numbers, accepted the lease reality, and decided that the next 15–20 years of landed living near the beach is worth the trade-off, The Riverina delivers something that no amount of condo facilities or new-launch gloss can substitute. That is a legitimate choice, but it must be a deliberate one.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE RIVERINA | 99 yrs lease commencing from 1996 | 2000 | 215 | $1,422 |
| TREASURE AT TAMPINES | 99-year leasehold | 2023 | 2,203 | $1,588 |
| PARKTOWN RESIDENCE | 99 yrs lease commencing from 2023 | 2025 | 1,193 | $2,367 |
| AURELLE OF TAMPINES | 99 yrs lease commencing from 2024 | 2025 | 760 | $1,769 |
| TENET | 99 yrs lease commencing from 2021 | 2022 | 618 | $1,386 |
| RIVELLE TAMPINES | 99 years leasehold | — | — | $1,933 |
Lease Decay Analysis
The 99-year lease runs from 1996, meaning approximately 30 years have already been consumed. Roughly 69 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~69 years | Full bank financing available |
| 2035 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2055 | ~39 years | Significant financing restrictions for next buyer |
| 2095 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~59 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE RIVERINA across multiple dimensions.
What Residents Say
“We moved here for the kids and the space. Three storeys with a proper backyard — try finding that in a condo. The beach is a 5-minute cycle away. On weekends it feels like living on holiday.”
— Owner feedback via PropertyGuru
“The roosters are real. They come from Pasir Ris Park and wander through the estate from early morning. You get used to it, but fair warning for light sleepers — this is not your typical condo living.”
— Resident observation via Stacked Homes
“Ho Bee built these houses well. Twenty-five years on and the structure is solid. Yes, we’ve renovated the interior, but the bones of the house are good. That matters more than fancy fittings.”
— Long-term owner review via EdgeProp
Resident sentiment across platforms converges on a consistent theme: The Riverina is chosen for lifestyle, not investment calculus. Families highlight the spacious layouts, private outdoor space, and the irreplaceable proximity to Pasir Ris Park and the beach as the reasons they stay. The community is predominantly Singaporean (94.6% of buyers), creating a settled, family-oriented neighbourhood character. Multiple residents mention the childcare centres scattered among the landed houses as both a convenience and an occasional noise consideration.
The candid negatives that surface repeatedly include the wildlife (roosters and free-ranging chickens from the nearby park are a genuine daily feature), the ageing of some common estate infrastructure, and the awareness that the 99-year lease is ticking. Several long-term owners express a pragmatic view: they bought for the lifestyle, they’ve enjoyed it for years, and they accept the lease situation as the price of entry to landed living in an area they love. The absence of estate-level facilities (pool, gym) is rarely cited as a complaint — residents who chose landed living generally did so precisely because they prefer private space over shared amenities.
Strengths & Weaknesses
- Genuine landed living — private backyards, 3-storey houses, car porches
- Ho Bee Land pedigree — reputable SGX-listed developer, solid structural quality
- Beach and park proximity — Pasir Ris Park (70 ha) and beach within cycling distance
- Two primary schools within 1 km — White Sands Primary (810m), Pasir Ris Primary (820m)
- Spacious layouts — 4 to 6 bedrooms, 1,600–3,600 sqft across three storeys
- Lowest PSF in competitive set — $1,410 vs $1,584 (Treasure) to $2,369 (Parktown)
- Pasir Ris MRT 770m — functional East-West Line access
- Serviceable yield — 3% gross from $6,135 avg rent for a landed property
- Settled Singaporean community — 94.6% local buyer profile
- KPE and TPE expressway access — CBD ~25–30 min off-peak for drivers
- Only 69 years remaining on 99-year lease — 9 years to critical 60-year threshold
- Declining PSF trend ($1,396→$1,250) — market pricing in lease depreciation
- No estate-level facilities — no pool, gym, or clubhouse (landed trade-off)
- Year-2000 interiors need updating — kitchens and bathrooms show age without renovation
- Wildlife noise — roosters and chickens from Pasir Ris Park roam the estate daily
- CPF and loan restrictions tightening — financing becomes progressively harder post-60yr
- High absolute quantum ($2.45M avg) — significant cash outlay for depreciating-lease asset
- Limited capital appreciation potential — lease decay outweighs market-wide growth
- Car helpful for daily convenience — landed estate walkability has natural limits
Verdict
The Riverina offers something increasingly rare in Singapore’s property market: landed living near the beach at a price point that, while not cheap, is dramatically lower than freehold landed alternatives. Ho Bee Land’s development pedigree ensures solid structural quality, and the three-storey houses with private backyards deliver a lifestyle that no condominium can replicate. For families who prioritise space, privacy, and outdoor living over shared amenities and MRT-doorstep convenience, this is a genuine proposition.
The weaknesses demand sober assessment. The 69-year remaining lease is the elephant in every room of every unit. With just 9 years before crossing the 60-year threshold — the point at which CPF usage and bank loan tenures become progressively restricted — The Riverina is entering a phase where lease decay will increasingly weigh on valuations and exit liquidity. The declining PSF trend ($1,396 → $1,250) is not a temporary dip but the market’s honest pricing of this reality. Buyers must enter with eyes open: this is a lifestyle purchase with rental income potential, not a capital appreciation play.
The competitive landscape reinforces the value-versus-growth tension. Treasure at Tampines at $1,584 PSF offers newer condo living with full facilities and a longer remaining lease. Parktown Residence at $2,369 PSF is a premium new launch with fresh 99-year lease. Pasir Ris 8 at $1,678 PSF integrates with the MRT and a retail podium. The Riverina undercuts all of these on a PSF basis, but it is the only one with a declining lease profile — a trade-off that each buyer must weigh against the landed lifestyle premium.
The investment scores paint a fair picture: walkability at 60/100 (car-helpful but not car-dependent), investment at 59/100 (steady income, limited growth), and en-bloc at 48/100 (landed estates rarely go collective). The 3% gross yield from $6,135 average rent is serviceable for a landed property and provides cash flow while the lease depreciates. For a family buying their “forever home for the next 15 years,” The Riverina delivers a quality of daily life — morning jogs to the beach, weekend barbecues in the backyard, children cycling to the park — that transcends what any scorecard can capture. Just don’t mistake lifestyle value for investment upside.