Holland Drive/Holland Close HDB flats reap benefits of locale rejuvenation

Holland Village is undergoing an extensive facelift, and as a designated URA Identity Node, the neighbourhood has been earmarked for preservation and maintenance. There has been a spate of en bloc projects in the vicinity these few years, including Hollandia and Toho Mansion, and their reincarnations—such as Van Holland—are expected to launch at between $2,800 and $2,900 psf. All these will undoubtedly boost the appeal of HDB flats in the nearby Holland Drive/Holland Close neighbourhood.

Refreshing Holland Village

The HDB blocks in Holland Drive are within walking distance of the MRT station, cafes, convenience stores, supermarkets, and wet markets. Photo credit: Loh Xiu Ruth
The HDB arena may not be a direct beneficiary of the en bloc stir, but the movement’s ripple effect will have an impact on the district’s HDB prices. The URA Draft Master Plan 2019 specifically underlined Holland Village as an area of interest for enhancement and rejuvenation, and extensive billion-dollar expansion plans for the village are underway. Communal spaces, commercial properties, and private units are on the cards for this unprecedented Holland Village refurbishment, which Far East Organization is undertaking.
HDB units in the vicinity of Holland Village—on Holland Drive, Holland Close, and Holland Avenue—are a mix of five-room, four-room, and three-room apartments. Many of these were built in the 1970s and are showing signs of age. Still, these HDB blocks are similar to wine—they develop richer characters as they grow older.
The Holland Drive/Holland Close are also sought after as a housing address because of its proximity to various amenities—including two wet markets at Ghim Moh and Holland Village—and the Circle Line’s Holland Village MRT stop. The Star Vista shopping mall and Buona Vista MRT Station are both within close travelling distance, bumping up the attraction of Holland Drive/Holland Close as a good hub for setting up home.
The area’s popularity is mirrored in its HDB transaction prices, and the neighbourhood is one of Singapore’s few million-dollar HDB hotspots (see table). Multiple HDB units have broken the million-dollar price ceiling in recent years, and the Holland Drive/Holland Close address is likely to command even higher premiums in the coming years, given the area’s upcoming development plans.

Million-dollar units at Holland Drive/Holland Close

Address
Property type
Transaction price (SGD)
Transaction month
Holland Drive
Five-room flat
1.1 million
January 2019
Holland Close
Five-room flat
1 million
November 2018
Holland Close
Five-room flat
1 million
November 2018
Holland Close
Five-room flat
1.02 million
August 2018
Holland Drive
Five-room flat
1.1 million
June 2018
Holland Drive
Five-room flat
1.03 million
July 2017