Housing and Development Board (HDB) flats around the Holland Drive/ Holland Close neighbourhood are likely to experience some positive effects when new projects in the vicinity like Van Holland which resulted from the en bloc sale of Toho Mansion is launched. These projects are expected to be priced between $2,800 and $2,900 psf.
In the Urban Redevelopment Authority (URA) Draft Master Plan 2019, Holland Village was highlighted as a place for enhancement and rejuvenation, and extensive billion-dollar expansion plans are in the works. These include communal spaces, commercial properties and private residential units in a new development spearheaded by Far East Organization.
Built in the 1970s, the HDB units are still
sought after due to their prime location, even though they are showing signs of
age. Besides being in proximity to amenities such as the wet markets in Ghim
Moh and Holland Village, they are also close to Buona Vista MRT station, an
interchange station connecting the East-West Line and Circle line and near to
the Star Vista shopping centre. Furthermore, buyers enjoy the fact that there
is ample amount of lush greenery in Holland Village, more so than some other
parts of Singapore.
This is evident from the transaction prices in recent years, with 5-Room HDB flats being sold for over a million dollars, and 3-room HDB units going for about half a million. In comparison, a similar 3-room HDB unit in Hougang could be going at $300,000 instead. Compared to the prices of private apartments in the area, such as a $4 million apartment at Parvis along Holland Hill, HDB flats here are more affordable.
Photo credit: URA