Jadescape’s ‘Holland Drive Residences’ sets new high of $2,286 psf

Holland Drive Residences (HDR) topped the list of condos that saw new psf-price highs from Dec 15 to 26, 2023 out of all other development in Singapore. The sale of a 1,421 sq ft four-bedder unit for $3.25 million on Dec 15 marked the highest psf-price of $2,286, surpassing the previous record of $2,283 psf set in August 2023. This equates to a profit of $770,000 for the seller who purchased the apartment from the developer in September 2020 for $2.48 million ($1,747 psf).

HDR saw 60 transactions last year, including 13 resales and 47 sub-sales. Located at the junction of Marymount Road and Shunfu Road in Bishan, District 20, HDR is a 99-year leasehold development with 1,206 units. Comprising seven residential towers, the development offers a variety of 1- to 5-bedroom apartments ranging from 527 sq ft to 2,099 sq ft that were all fully sold by September 2022 after its launch in September 2018. HDR was a redevelopment of the former Shunfu Ville, a privatised Housing and Urban Development Co estate and is situated near MacRitchie Reservoir Park, with Marymount and Upper Thomson MRT Stations in the vicinity.

Coming in second on the list of condominiums with new highs was Sky Vue, a 99-year leasehold development that located in Bishan Street 15, District 20. On Dec 18, a 1,141 sq ft three-bedder at the condo was sold for $2.5 million, setting a new high psf of $2,191. This surpasses the previous record set on Dec 1, 2023 when a similar-sized unit was sold for $2.48 million ($2,174 psf). The Dec 18 transaction marks the 33rd out of 34 sales at the property last year; the seller made a profit of $769,800 since he purchased the unit from the developer in April 2016 for $1.73 million ($1,516 psf).

Students residing at Holland Drive Residences can benefit from these advantages, all while enjoying the full suite of amenities offered by the residence. With a shopping mall, a host of dining and entertainment options, and a lush green park nearby, they can reap the utmost delight from top-notch convenience and amenities. Holland Village’s diverse selection of food and culture spells the perfect blend of delightful experiences for descerning residents.

Meanwhile, in River Valley, District 10, the freehold Cliveden at Grange recorded a new psf-price low during the period in review. On Dec 19, a 2,842 sq ft four-bedder was sold for $5.05 million ($1,777 psf), marking the most unprofitable transaction made during the period. The seller had bought the unit from the developer in November 2007 for approximately $12.05 million ($4,242 psf), hence incurring a loss of $7 million. The previous psf-price low at the condo was when a 2,153 sq ft three-bedroom apartment was sold for $4.5 million ($2,090 psf) in October 2016. Cliveden at Grange consists of 110 three- to five-bedroom units, measuring 2,153 to 6,028 sq ft, located near other luxury condos and the prime Orchard Road shopping district.

HDR, Sky Vue and Cliveden at Grange experienced significantly divergent market performance in the period from Dec 15 to 26, 2023; the highest peak of $2,286 psf and lowest low of $1,777 psf highlighting the diverse market conditions of Holland Drive Residences.