In November 2021, the 960-unit Central Area (Rochor) BTO project, named River Peaks I & II, was the first launch under the Prime Location Public Housing (PLH) scheme. The PLH model aims to make HDB flats in prime, central locations more affordable and diminish the “lottery effect” of such properties.
The River Peaks I & II flats enjoy an exemplary location in the heart of the city and are ideal for those who wish to live long-term in the city core, but are not overly concerned about the flat’s potential as an investment. With that said, let’s dive in to learn more about River Peaks I & II.
River Peaks I & II Nov 2021 Central Area (Rochor) BTO Map
Rather buy a resale flat instead of waiting for a BTO flat? Browse the latest listings for Rochor resale flats on PropertyGuru.
River Peaks I & II Central Area (Rochor) BTO Location (Nov 2021 HDB BTO launch)
Rochor BTO Location (Nov 2021)
Bounded by Jalan Besar, Kelantan Road, Weld Road and Sungei Road
Jalan Besar (Downtown Line), Rochor (Downtown Line), Bugis (East West Line, Downtown Line), Little India (Downtown Line, North East Line), Farrer Park (North East Line)
Nearest bus interchange
None. Nearest bus stop is Jalan Besar Station Exit A
Stamford Primary School, Singapore School of the Arts, LASALLE College of the Arts, NAFA, Singapore Management University
Other nearby amenities
Mustafa Centre, Jalan Besar Plaza, Berseh Food Centre, Tekka Centre, Sim Lim Square, OG Albert Complex, Fu Lu Shou Complex, Selegie House, Tekka Centre, Raffles Hospital, Kallang Polyclinic, Jalan Besar Sports Centre, Bugis+, Bugis Junction
The Rochor BTO project consists of two sites located side by side and bounded by Jalan Besar and Sungei Road. River Peaks is located in between Kelantan Road and Weld Road, while River Peaks II lies on the other side of Weld Road.
River Peaks I and II enjoy excellent connectivity, with five MRT stations on three lines being located within walking distance. Future residents will be able to get to the CBD in two or three bus stops, and have access to the Downtown, East West, North East lines.
The nearest MRT station, Jalan Besar MRT on the Downtown Line, is located right beside the BTO project on Jalan Besar; the project is connected to the Jalan Besar MRT station. There are four other stations on three MRT lines located within walking distance: Rochor, Bugis, Little India and Farrer Park MRT stations.
The BTO project is located by the Rochor River, bordering Little India and within easy walking distance to Kampong Glam and Bugis. The Orchard shopping district, Fort Canning and City Hall area are also easily accessible in 20 to 30 minutes’ walk.
Thanks to its central location, the Rochor BTO project is ideal for anyone who wants to live in the heart of the city or works in the CBD. However, the project will fall under the PLH so buyers must be prepared to face restrictions on MOP, renting and reselling the flat.
Flats located in PLH areas will be subject to a longer Minimum Occupation Period (MOP) of 10 years. Owners may rent out spare bedrooms but are not allowed to rent out the entire flat, even after serving the MOP.
To make the flats more affordable, the government will offer buyers additional subsidies on top of those for existing BTO flats. However, when the flat is sold, a percentage of the reasle price must be paid to the HDB in order to make up for these additional subsidies. In the case of River Peaks I & II, 6% of the resale price or the flat’s valuation, whichever is higher, must be paid to HDB.
River Peaks I & II Central Area (Rochor) BTO Price (Nov 2021 HDB BTO Launch)
The River Peaks I & II Central Area (Rochor) November 2021 BTO launch consists of 960 units; there will be 280 3-room flats and 680 4-room flats available.
Due to its central location, the River Peaks I & II flats have been able to command high prices, with 3-room flats going for about half a million dollars and 4-room flats in the $630,000 to $770,000 range. When comparing this to the resale flat prices in the area, this is comparable.
The HDB flats in the Rochor area are pretty old, meaning they have a shorter remaining lease. But they’re still able to command a respectable price, which bodes well for the resale potential of the River Peaks I & II Central Area (Rochor) flats in their later years.
As expected, there was strong demand for the first project launched under the new PLH scheme. The 4-room flats are seeing strong demand, with an overall subscription rate of 7.8 at the time of writing. For second-time applicants, the subscription rate is currently 77.8.
On the other hand, the 3-room flats aren’t seeing such strong demand. Still, they are oversubscribed with an overall subscription rate of 2.1 at the time of writing.
River Peaks I & II Central Area (Rochor) BTO Amenities (Nov 2021 HDB BTO Launch)
5 MRT Stations on 3 Lines Within Walking Distance, Including a Station Right next Door
River Peaks I and II are located next door to Jalan Besar MRT on the Downtown Line. The project is directly connected to Jalan Besar MRT station, meaning residents don’t have to worry about accessing the station if it rains.
Four other MRT stations are located within walking distance—Rochor MRT on the Downtown Line is 6 minutes’ walk away, Bugis on the Downtown and East West Lines is 7 minutes’ walk away, Little India on the Downtown and North East Lines is 12 minutes’ walk away, and Farrer Park on the North East Line is 13 minutes’ walk away.
Commute to the CBD in Less than 10 Minutes
Thanks to the Rochor BTO site’s location in the city core and proximity to its nearest MRT station, those who work in the CBD can reach their workplace in under 10 minutes, with the MRT ride from Jalan Besar to Telok Ayer taking just 7 minutes and 4 stops.
Those who wish to commute to the CBD by car can do so in about 10 minutes via Victoria Street. Due to the short distance, it is also possible to make the commute on foot in about 40 minutes.
Shopping, Food and Culture at Your Fingertips
River Peaks I and II are situated in the heart of Singapore’s city core, with Little India, Bugis, Kampong Glam and Orchard all located within walking distance, together with all the food, shopping, cultural and lifestyle perks found within.
Some shopping malls within easy walking distance Bugis+ and Bugis Junction, City Square Mall, Sim Lim Square, Mustafa Centre and Tekka Place. This is just a tiny fraction of the malls in the area. While there is a multitude of food options in the city core, residents can also find many famous local eateries right at their doorstep on Jalan Besar. If you have late-night cravings, you can satisfy them at Swee Choon Tim Sum restaurant.
Residents can also walk to cultural attractions like the National Museum of Singapore and green spaces like Fort Canning Park. Medical facilities such as Raffles Hospital and Kallang Polyclinic are 10 minutes or less away by car.
Conclusion: Are the River Peaks I & II Central Area (Rochor) Nov 2021 BTO Flats Worth Balloting For?
The November 2021 Rochor BTO project enjoys an excellent location, but buyers will have to contend with the restrictions imposed by the PLH scheme and contend with the high prices and stiff competition for the flats.
Pros of the November 2021 River Peaks I & II Central Area (Rochor) BTO
- Central location
- MRT station right next door
- Walking distance to five MRT stations
- Easy access to various malls, eateries and cultural institutions
Cons of the November 2021 River Peaks I & II Central Area (Rochor) BTO
- PLH scheme restrictions apply
- Only 3-room and 4-room flats available
The Rochor BTO project is ideal for those who prioritise living in a central area and are willing and able to pay a higher price for it. However, the PLH significantly diminishes the flats’ desirability as an investment. Hence, they are thus more suited to those who are not overly concerned about investment potential and simply wish to purchase a long-term home.
River Peaks I and II consist only of 3-room and 4-room flats. Due to the space limitations, the BTO project is ideal for smaller households or couples without kids. Those who work in the CBD or frequently visit restaurants, bars and museums in the city centre can benefit from the flat’s central location.
Couples with children might struggle with the space limitations of the smaller flat type as well as the limited number of primary and secondary schools in the immediate vicinity.
In spite of the PLH, the Rochor BTO flats are still on the more expensive end of the BTO spectrum, with the price of a 3-room flat hovering at half a million dollars.
Those who wish to live in a convenient location without having to contend with the PLH restrictions can consider city fringe locations like Kallang/Whampoa or Geylang, which will see new launches in February 2022. These flats are likely to be slightly more affordable and are not subject to PLH restrictions.
For those on a tighter budget, go for the flats in non-mature estates such as Tengah and Yishun; they promise to be much more affordable.
Not sure if you should ballot for the River Peaks I & II November 2021 Central Area (Rochor) BTO flats? Read about the other BTO launches in November below:
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This article was written by Joanne Poh. A former real estate lawyer, she writes about property and personal finance and spends her free time compulsively learning languages and roller skating in carparks.
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