SINGAPORE (EDGEPROP) - Despite being launched so close to the year-end holidays, One Holland Village Residences achieved sales of 98 units, or one-third of the total of 296, within a week of its launch in late November. Units in its high-rise, 34-storey tower achieved an average price of $2,600 psf, while the units in the low-rise blocks hit an average of $2,900 psf. The luxury residences within the development set a new threshold at $3,200 psf.
The One Holland Village mixed-use development is jointly developed by Far East Organization, Sekisui House and Sino Group.
In the lead-up to One Holland Village Residences’ launch, there were a number of resales of older, larger condo units in freehold developments in the Holland Road-Farrer Road neighbourhood.
At Leedon Residence, for example, three units changed hands in November. Prior to that, there had been no transaction since February. The 381-unit, luxury condo developed by GuocoLand was launched in 2012 and completed in 2015.
The latest transaction at Leedon Residence was for a 2,131 sq ft, three-bedroom unit on the sixth floor that fetched $4.88 million ($2,290 psf), according to a caveat lodged on Nov 21. The unit was first purchased for $3.9 million ($1,828 psf) in September 2012.
Prior to that, another three-bedroom, sixth-floor unit of identical size was sold for $4.68 million ($2,196 psf), according to a caveat lodged on Nov 19. The price is almost on a par with the purchase price of $4.6 million ($2,158 psf) 3½ years ago.
In the Woollerton Park enclave, located off Farrer Road is the 53-unit Gallop Green, a low-rise condo development. It contains 40 three- and four-bedroom units in two 4-storey blocks and 13 three-storey, five-bedroom townhouses. The freehold residential development by Straits Trading Co was completed in 2002.
A 2,992 sq ft, three-bedroom apartment at Gallop Green changed hands for $5.4 million ($1,805 psf) recently. The unit fetched over $5.62 million ($1,880 psf) in August 2012.
Meanwhile, a 4,187 sq ft townhouse was sold for $7.63 million ($1,822 psf) in early November. This was lower than the $8.29 million ($1,980 psf) that the unit changed hands at in May 2013. The $1,980 psf was the highest psf price achieved in the development to date, based on caveats lodged with URA Realis.
At the 248-unit, freehold condo Parvis on Holland Hill, a 1,701 sq ft, three-bedroom unit was sold for $3.26 million ($1,917 psf) last month. That same unit changed hands for $3.12 million ($1,835 psf) in July 2013.