Why This 24-Year-Old Condo Outperformed Its Newer Neighbours In Singapore

Rio Vista, a 99-year leasehold condominium along Upper Serangoon View in District 19, defied expectations to become a top performer in 2025. Back when it was completed in 2004, Rio Vista had only one neighbour - Evergreen Park, a 99-year leasehold condo that was completed in 1999. Back then, these two developments were the only condominiums in their neighbourhood with a waterfront view of the Serangoon River.

But subsequently, a slew of condos like Boathouse Residences (2015), Riversails (2016), Kingsford Waterbay (2018), and Riverfront Residences (2023) were subsequently developed. At the time, this came with concerns that this quiet area in the North East Region was getting too crowded with new condos. 

Nonetheless, the 716-unit Rio Vista seemed to shrug off the competition, and despite being older than many of its neighbours it managed to top our charts last year. Here’s a look at what made Rio Vista work so well:

Let’s look at Rio Vista’s performance from its launch in 2004 to 30th December 2025:

An important factor is that since it launched in 2001, Rio Vista has seen two property booms; the first during the aftermath of the 2008 Global Financial Crisis (GFC), and the second during the post-Covid-19 pandemic recovery, where prices in the private resale market were notably high in 2022 and 2023.