HOLLAND RESIDENCES is selling like hot cakes!

The Business Times today reported that Allgreen Properties have sold 54 units at its Holland Residences condo at Taman Warna released this week. The average price of the 68 units released in the 83-unit project is $1625psf – this figure is weighed down by private enclosed spaces for ground-floor units in the five-storey freehold project.

Singaporean is said to have bought 80% of the units sold. One-bedroom units (601sqft) and two-bedders (957-979sqft) were the first to be snapped up at this week’s preview. The project also has three and four-bedroom units as well as penthouses. Prices of one-bedders start from $1.06 million. Two bedders cost between $1.63 million and $1.73 million. The most expensive unit sold was $3.6 million for a four-bedroom duplex penthouse.

The average price of $1600psf for Holland Residences is higher than the $1500psf at which Ho Bee is selling its nearby Parvis, a 12-storey condo at Holland Hill.

However, there are no one-bedroom units in Parvis; developers typically can command a higher psf price for smaller units as the lumpsum amount is still relatively small. Hence the tendency among some developers to build projects with a higher proportion of smaller units to achieve a higher overall average psf price for the development.

The wife and I have seen the plot of land that Holland Residences sits on – you can actually get quite a bird’s eye view of this from the sales gallery of Parvis, which directly overlook Holland Residences from on top of Holland Hill. The Holland Residences plot does not look very large, and given the 5-storey height limitation on the project, we really hope the pool view is worth it. This is because you are unlikely to get much of a view otherwise, despite the surrounding landed properties.

Having said that, it is immature (and probably unfair too) for us to comment on Holland Residences when we have not actually viewed it. And hopefully by the time we get to do so, there are still units available to keep the showflats going.

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