Private residential property prices picked up in Q2 2018 following news of the future extension in Holland Village, which will include new residences, shops and eateries. In fact, median prices rose by 7.8 percent in the second quarter compared to the previous three-month period.
The most recent launches in the area include the Enclave @ Holland and Parksuites. Both are high-end projects that only sold one unit each in August 2018 at median prices of $2,683 psf and $2,286 psf respectively.
Private property transaction prices in Holland Village
Median rents of private properties in Holland Village have remained stagnant since the start of 2018. However, rental prices rose from $3.52 psf per month in Q2 2017 to $3.55 psf per month in Q2 this year. With Holland Village being a preferred location for expat tenants, we expect rental prices to remain firm in the coming months.
However, with more housing supply entering the market, we don’t expect rents to rise by much for the rest of 2018.
Private property rents in Holland Village
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The completion of the Holland Village extension is expected to see prices of private properties in the area increase by about 3.0 to 5.0 percent in the next five years.
Property buyers and investors should consider purchasing a home in Holland Village as property values will rise in the coming years. They can also expect good rental yield as demand will remain strong for rental properties in Holland Village despite new supply entering the market.