Hillhaven & Arcady, two launches suffers slow start in 2024

Just under 30% of The Arcady’s freehold units were sold by 4 pm, Saturday.

All 11 of the one-bedroom-and-study units, and 25 out of 38 two-bedroom units, were sold.

Analysts think Hillhaven offers a good value compared to other non-landed homes outside the Central Region that are sold on a 99-year leasehold basis.

The Arcady Boon Keng appeals to investors due to its proximity to St Andrews Junior School (within 1 km), Hong Wen School (within 1 km) and Bendemeer School (within 1km).

Rents also rose “remarkably” from 2020-2023. This reflects the high demand for residential properties at the edge of the city.

Moreover, only 11% of the estimated 11,000 private residential apartments launched this year will have a freehold title.

In the Kallang/Whampoa housing and development board (HDB) estate, around the vicinity, some 54 units worth millions of dollars changed hands in 2023

This is a great project for HDB upgraders that are interested in freehold developments located in a strategic and thriving area near the city.

The Hill at One North Showflat Address

The project is developed in partnership by KSH Holdings SLB Development & H10 Holdings.

The experts believe that the sales of both projects are “encouraging”, with a gradual return to market expected to increase take-up.

Most buyers believe the sentiment to buy is still positive, although they may be taking a little more time than usual to examine and evaluate their options.

There is a sense that buyers are still price conscious and very selective when it comes to the property they wish to buy. They also do not seem in any hurry.

The private home launches for this year kicked off over the weekend with the two projects Hillhaven and The Arcady. Both are off to a slow but encouraging start.

Far East Organization’s joint venture partner Sekisui House and Far East Organization sold 59 out 179 units, or approximately 33 per cent, as part their Hillhaven phase 1 launch Saturday (Jan. 20), starting prices at S$1,903 each square foot.

In a press statement issued by Far East on Saturday, it was revealed that all of the 59 buyers were Singaporeans (or permanent residents) and around 70% were between the ages of 31 and 50.

According to the report, most of the sold units are two and three bedroom apartments.

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