Press Release

May 31, 2023

PropNex Appointed As Sole Agent For The Mortgagee Sale Of 48 Semi-detached Houses At Eleven @ Holland, Off Bukit Timah Road

 SINGAPORE, 31 May 2023 – PropNex Realty has been appointed as the sole agent for the mortgagee sale of 48 semi-detached houses at Eleven @ Holland in Holland Link, off Bukit Timah Road. The properties were completed in 2014 and have a 99-year leasehold land tenure commencing from December 2010.

Eleven @ Holland is a cluster landed housing project which comprises a total of 82 semi-detached houses. The 48 properties available for sale have an average strata area of 3,735 sq ft, with a guide price of about $1,000 psf – which works out to an average price of $3.735 million for each semi-detached house. They will be opened for viewing from 3 June 2023. The majority (45 units) of the semi-detached houses – with the exception of three units which are two-storey plus attic and basement – are all three-storey plus attic and basement homes, with two private carpark lots, five bedrooms, five bathrooms, and a private lift.

The properties are nestled in a tranquil and exclusive private landed housing enclave in District 10, near to the Brizay Park and Garlick Avenue good class bungalow areas (GCBAs). Eleven @ Holland sits on a 125,000-sq ft site that is zoned for 3-storey semi-detached housing under the URA Master Plan 2019. Residents can enjoy several amenities within the development, such as BBQ facilities, a gym, and swimming pool.

Tracy Goh, Head of Investment and Collective Sales at PropNex, said, “We expect the 48 semi-detached houses to garner interest from a diverse group of buyers, including first-time home buyers, as well as those who wish to upgrade from living in an HDB flat or condominium unit to a landed home. Many Singaporeans aspire to own and live in a private landed residential property, and we believe the houses for sale at Eleven @ Holland are priced to sell, presenting home buyers with a rare and affordable opportunity. With prices averaging at about $3.735 million for each property, it is more attractive than the average transacted resale price of about $4.4 million achieved for 99-year leasehold semi-detached homes in District 10 in 2022, according to URA Realis caveat data.”

Eleven @ Holland is situated about 900 metres from the Sixth Avenue MRT station and about 1 km from the King Albert Park station on the Downtown Line. In addition, it is within 1-km from the Methodist Girls’ School (Primary), while Henry Park Primary, Nanyang Primary, Pei Hwa Presbyterian Primary, and Raffles Girls’ Primary are between 1 and 2 km from the project. Eleven @ Holland is also not far from Hwa Chong Institution, National Junior College, Ngee Ann Polytechnic, and the Singapore University of Social Sciences.

Ms Goh added, “Apart from the attractive pricing, we think there are other compelling factors, such as Eleven @ Holland’s location near several popular schools, the exclusivity of surrounding landed housing areas, spacious rooms, access to shared facilities such as the swimming pool within the development, and potential for decent rental yields in today’s market, where home prices are firm and interest rates high. Most of the 48 detached homes will be sold with existing tenancy, as only eight properties are currently vacant. Gross rental yields could come up to a healthy 4.8%, with some units fetching a monthly rental of $15,000. There is also capital appreciation upside given the limited supply of landed homes in Singapore.”

Given that the 48 semi-detached houses are landed homes, they can only be purchased by Singaporeans. Singapore Permanent Residents and foreigners will need to seek approval from the Singapore Land Authority if they wish to buy landed residential properties in Singapore.

The viewing of the properties for sale will start from 3 June 2023. Interested parties can contact any PropNex real estate salespersons to make a viewing appointment.

Eleven @ Holland exterior. Source: PropNex

Swimming pool at Eleven @ Holland. Source: PropNex

Eleven @ Holland Semi-D interior. Source: PropNex

Eleven @ Holland Semi-D interior. Source: PropNex

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