A detailed comparison of the 7 new launch condos at Holland Village and unit picks

These days, you can’t walk more than 10 minutes around Holland Village without seeing a new condo for sale. It probably isn’t a surprise to anyone too, given that there were a ton of en bloc deals happening in this neck of the woods in the 2017 en bloc rush.

And so, this has been one of the most saturated areas for new launches; and the seven new launch projects today are contending with many resale options to boot.

The good news is, the abundant supply could mean good deals for buyers. Here’s what to consider when picking among the slew of new launch options:

A quick glimpse at District 10

 

Overall, prices for non-landed private homes in District 10 have mostly remained flat over the year. The average price was $1,566 psf in May 2020, and is currently at $1,563 psf.

In terms of new sale prices only, however, the slew of new launches have helped to drive up the numbers:

 

Prices averaged $2,443 psf in May 2020, and currently average $3,366 psf. If you’re wondering about that sharp increase in price, it’s because of the introduction of the ultra luxury Park Nova development in May.

 

Which new launches are in or near Holland V right now?

1. One Holland Village Residences

Location: 5 Holland Village Way

Developer: Far East Organization

Lease: 99-years

TOP: 2025

Avg. Price PSF: $2,659 psf

Take-up rate: 138 out of 296 units sold (46.6 per cent)

Key highlights:

Updated as of 16 June 2021: It was previously mentioned that the retail zones were right below the residential units. This is incorrect. Both zones are separate. We have rectified the information below and apologise for any inconvenience caused.

Sales have been surprisingly slow for One Holland Village, given it's a headline development with only 296 units. This is a mixed-use project, with the retail zone separated from the residential zone, allowing residents to enjoy both privacy as well as convenience of the retail, dining and supermarket — all within the same development. This is because while the retail is within the same development, it's not located within the same tower or block of the residential units

And despite the limited space, the developer managed to fit in a Sky Tennis Court (on the 34th floor as well).

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The main appeal though is the 290-metre distance (four-minutes walk) to Holland Village MRT station. This is also the hub of the area, where you’ll find most of the cafes, wine bars, etc., that the area is famous for.

This may boil down to the project being angled at investors. 207 of the 296 units are one and two-bedders (although some two-bedders are quite large, and go to 1,087 sq. ft.).

The location, while convenient for tenants, maybe a bit busy for families – close to the MRT station is also one of the noisiest and most crowded parts of Holland V.

There are, also, zero schools within a one-kilometre radius.

This doesn’t make One Holland Village bad; but it puts it in a very competitive spot right now. Landlords may worry about the availability of rental units already in the area.

It’s not helped by the emergence of mega-developments like Leedon Green (see below), and even Normanton Park has an effect (many of the expatriates who work in the One-North area will find it a cheaper option).

Coupled with the current $2,659 psf average price tag, investors are bound to have reservations.

Still, this is one of the best located condos for those who want Holland V access. Young couples in a higher-income bracket – especially if they work at One-North – may get a lot of mileage out of this project.

Who’s it for:

Singles, expats, and small families.

Unit pick of the bunch:

Our choice for the best unit here would be 689 sq. ft. for the two-bed one-bath, or 807 sq. ft. for the two-bed two-bath layouts. These have space-efficient dumbbell layouts; and it may help rentability, as they’re big enough for tenants to comfortably have roommates.

2. Van Holland

Location: 186 Holland Road

Developer: Koh Brothers Group Ltd.

Lease: Freehold

TOP: 2023

Avg. Price PSF: $2,911 psf

Take-up rate: 18 out of 69 units sold (26 per cent)

Key highlights:

Boutique developments tend to be a love-it or hate-it affair; so if you’re in the latter category you can skip this. Otherwise, Van Holland is a rare, new freehold project that’s also 150 metres (four minutes’ walk) of Holland Village MRT.

Most of the location issues are similar to One Holland Residences (see above). The differentiating factors will boil down to whether you feel $2,911 is a worthwhile premium for freehold status, and for greater privacy.

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(Although some buyers will feel that, given the busy location, even a boutique development is going to face noise issues).

A common complaint regards the layout; the most glaring being the spacing between stack 02 and 13 (the distance is only 5.4 metres). Some stacks also have long entranceways, and facilities are limited; although that much is expected of most boutique developments.

A link bridge, providing sheltered access all the way to Holland Village, is a nice touch.

While the price makes it a tough sell (even the two-bedders go up to a quantum of $2.87 million), this is a great location for those who love Holland V. Long term gains and en-bloc potential are also considerable, given its proximity to the heart of the neighbourhood.

Who’s it for:

Singles, expats that are more concerned about privacy.

Unit pick of the bunch:

We’d focus on the 689 sq. ft. units for stack 07 (two-bed one-bath), and 710 sq. ft. units for stack 08 (two-bed, two-baths). These are quieter and don’t face other units, even though you get a bit of the east sun.

3. Leedon Green

Location: 26 Leedon Heights

Developer: MCL Land & Yanlord Group

Lease: Freehold

TOP: 2023

Avg. Price PSF: $2,655 psf

Take-up rate: 137 of 638 units sold (21.4 per cent)

Key highlights:

Leedon Green is just 760 metres (13 minutes-walk) to Holland Village MRT, and the heart of the area. Although if transport is your only intent, Farrer Road MRT is actually quicker to get to (the route is more direct so it’s about 11 minutes on foot, despite being 790 metres away).

Leedon Green is at the “sweet spot” in terms of development size; 638 units are big enough to keep costs reasonable, but not so big and to lose exclusivity. Unlike many of the condos on this list, Leedon Green is also big enough to have full suite condo facilities, including multiple pools (3, to be sure).

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Note that at $2,655 Leedon Green is almost the same price as One Holland Village, but has the added bonus of being freehold. You do lose out on the accessibility to Holland though, it is not at a distance that you’d want to walk daily.

Overall, this makes for a more family friendly arrangement. There’s still road noise from Holland Road flyover and Farrer Road, but this is offset by the space and wider range of facilities. Nanyang Primary School is also within a one-kilometre radius (although that isn’t true of every stack).

While there are one and two-bedders for the investor crowd, these are well spread out, with a few in each block. We do feel though, that any aspiring landlords will defer to developments closer to the MRT (see the two above).

There will also be significant road noise from the Holland flyover and Farrer Road so for those choosing the exterior facing units do take note.

Who’s it for:

Families that want land space and facilities.

Unit pick of the bunch:

Our choice unit here would be the 2+Study units, which are a good size at 818 sq. ft. Both toilets have ventilation windows, and the air-con ledge is tucked at the back of the unit. It’s also a good study-room size, which families will appreciate.

4. Hyll on Holland

Location: 99 Holland Road

Developer: Far East Consortium International & Koh Brothers Group

Lease: Freehold

TOP: 2025

Avg. Price PSF: $2,458 psf

Take-up rate: Eight out of 319 units sold (2.5 per cent)

Key highlights:

Hyll on Holland is an agglomeration of two former developments (the Estoril and Hollandia). The location is solid, at just 750 metres (about 11 minutes’ walk) to Holland Village MRT station. Although we do think it suffers from a neither here nor there first-world situation.

Yes, it’s near enough to Holland Village, but not near enough that it is an enjoyable walk – particularly if you made a grocery trip to Cold Storage.

You’ll also note that, next to Wilshire Residences, Hyll on Holland is the lowest-priced development on this list. Nonetheless, units have been slow to move. It boils down to two issues:

The first is competition. Hyll on Holland has been drowned out by the slew of new launches nearby, in particular from One Holland Village and Van Holland (as those two are closer to the MRT station).

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While it is a freehold condo, you’ll notice most of the other developments on this list – or in District 10 in general – can make the same boast.

Note that most of the units (231 of them) are two-bedders, which is a size that landlords like. However, investors may be hard to convince even with the lower price point; most would worry about tenants choosing among new condos closer to Holland V itself.

The second issue is the location close to Holland Flyover, which makes this one of the closest condos to the main roads (the main entrance is right on Holland Road) – so noise will definitely be a problem. The good news is, an acoustic ceiling and blinds at the balcony will be provided.

That said, about half the developments face the flyover.

Nonetheless, Hyll on Holland has an efficient, squarish layout, with many of the units in a dumbbell pattern.

Who’s it for:

Young working professionals, or small families.

Unit pick of the bunch:

A particularly choice unit is the 700 sq. ft. options, with ventilation windows in both the toilet and kitchen. The air-con ledge also neatly tucked out the back for these units.

5. Mooi

Location: 139 Holland Road

Developer: Wenul HL Pte. Ltd.

Lease: Freehold

TOP: 2023

Avg. Price PSF: $2,504 psf

Take-up rate: Four of 24 units sold (16.6 per cent)

Key highlights:

The smallest development on this list, Mooi has only 24 units. So if you’re the sort who won’t consider boutique condos, you can skip this one.

Otherwise, Mooi offers an interesting alternative to Van Holland. It’s just 230 metres to Holland Village MRT (three-minutes’ walk), and has good facilities given its size. It does, for instance, have both an infinity pool and a lap pool (although it’s still nowhere close to a full suite condo of course).

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Units, along with the development itself, have a squarish and efficient layout, which some may feel is less constricted than Van Holland. All units except 2 on the ground floor will have a private lift.

In terms of exclusivity and privacy, it has the same issues as Van Holland – although it’s a boutique development, you have to expect some bustle when you’re in the heart of Holland V. Road noise is inescapable in this area.

For comparative purposes, we feel Mooi’s price point might soon give it an edge over Van Holland. This isn’t to say it’s cheap, but that $2,504 is a big contrast from its competitor’s $2,911 psf price point; with too little differentiation to justify much of a premium.

Who’s it for:

Young working professionals, or small families.

Unit pick of the bunch:

 

We’d consider the 850 sq. ft. units in stack 01 if we were buying here; we like the semi-enclosed kitchen, with ventilation windows for both the kitchen and toilet. It also has the air-con ledged tucked in the back.

That said at 850 sq. ft. it is definitely a compact size so don’t be expecting too much in terms of the bedroom sizes.

6. 15 Holland Hill

Location: 15 Holland Hill

Developer: Peak Opal Pte. Ltd.

Lease: Freehold

TOP: 2022

Avg. Price PSF: $2,979 psf

Take-up rate: 10 of 59 units sold (16.9 per cent)

Key highlights:

With 59 units on 84,289 sq. ft., this is the most spacious and exclusive development on this list. It’s also the most expensive, but you get what you pay for. All units will come with a private lift and a household shelter.

What’s probably even more special would be the penthouse and garden maisonette units – these come with their very own private lift lobby. In other words, you won’t have to share a lift with anybody, ever.

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Even the smallest two-bedders are a whopping 1,292 sq. ft., while three-bedders (making up the majority at 27 units) reach 2,045 sq. ft. There are only four five-bedder units (the penthouse and garden maisonettes), but these range from 5,134 to 5,425 sq. ft.

We rarely see sizes like these outside of 1990’s era condos. The quality of fittings and fixtures is also top-notch, so this is pretty much the definition of a luxury condo.

The distance from the MRT station is not fantastic, at 580 metres (about 10 minutes’ walk, although it’s uphill). This is still close enough to stroll, but far enough that the noise and food traffic can’t bother you. That said, those looking at such price points probably wouldn’t care too much about MRT access.

With the smallest units reaching $3.78 million however, and the number of competing properties nearby, it’s hard to position this is an investment. 15 Holland Hill is an indulgence, for the home owner who can afford it.

Who’s it for:

Those with deep pockets that like to have space and prefer facilities of a condo to a landed home.

Unit pick of the bunch:

There isn’t really a “choice unit” here, as every unit is a top-tier luxury home. 15 Holland Hill may be the best Holland V has to offer right now for a new launch project, in terms of quality and size.

7. Wilshire Residences

Location: 30 Farrer Road

Developer: Tong Eng & Roxy Pacific JV

Lease: Freehold

TOP: 2023

Avg. Price PSF: $2,458 psf

Take-up rate: 25 of 85 units sold (29.4 per cent)

Key highlights:

Wilshire Residences is a bit of a dark horse in the Holland V race. It’s closer to Farrer Road MRT station than Holland V station (620 metres, or nine-minutes’ walk). Note, however, that some buyers may consider this an advantage.

It’s far from the noise of Holland V proper, but just one train stop away – an almost negligible distance.

This stretch of Farrer Road also has a good number of “across the road” amenities, including dining and retail. As such, it’s not significantly less convenient, just because you’re a bit further from Holland V.

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That said, most of the units here are on the small end. The one-bedders are only 463 sq. ft., while two-bedders are 646 sq. ft. Families may find the three-bedders a bit tight, at between 753 to 861 sq. ft. We also find that many layouts include a long bedroom walkway, which isn’t too efficient.

Overall, the smaller number of units will make this appeal more to investors or young couples than families; and the lower price point is likely to draw attention as the race heats up. If you’re interested though, we’d suggest you focus on stack 05, particularly the south-facing 743 sq. ft. units.

This is further away from Farrer Road to minimise noise, and has an extra room that’s big enough to use as a study nook or guest room.

This is a good compromise between being a bit further from Holland V, and still keeping a sane price.

Who’s it for:

Young couples or small families.

Unit pick of the bunch:

Our pick would be Stack 5, a 754 sq. ft. 2 bedroom unit. It’s south facing and will be facing away from the road noise. It comes with a tiny guest room, that can be used as a study nook as well.

We do like that the unit comes with ventilation windows for both the kitchen (not common) and the bathrooms. The AC ledge is also located at the back so your bedroom windows will not be hindered.

Take your time with Holland V right now, as supply is abundant

With so many high-priced condos vying for attention, we don’t expect all of them to sell out fast.

Investors, in particular, are going to be extra cautious given the Covid-19 situation, and potentially smaller tenant pools in the future (even after the pandemic, we don’t know how quickly companies will start hiring from abroad again).

This article was first published in Stackedhomes.