SINGAPORE, 8 June 2023 – PropNex Realty, as the sole agent for the mortgagee sale of 48 cluster semi-detached houses at Eleven @ Holland, has collected 48 cheques from buyers for the purchase of the properties in Holland Link in District 10 at a unit price of $1,000 psf or higher based on strata area – with prices ranging from $3.714 million to $4.406 million each. The transactions are pending the mortgagee’s approval and buyers signing the Sales & Purchase agreement.
In an earlier announcement dated 31 May 2023, PropNex has said that it has been appointed as the sole agent for the mortgagee sale of the 48 landed homes. Eleven @ Holland is a cluster landed housing project which comprises a total of 82 semi-detached homes. The properties were completed in 2014 and have a 99-year leasehold land tenure commencing from December 2010.
Tracy Goh, Head of Investment and Collective Sales at PropNex, said, “There was very strong interest for the cluster semi-detached homes that were put up for mortgagee sale at Eleven @ Holland. By our estimates, more than 100 interested buyers came to view the properties on 3 June, when the units were opened for viewing. The 48 cheques that we have collected are all from Singaporean buyers. Regarding media reports that a buyer had purchased 10 units, we would like to clarify that a businessman had intended to purchase 10 units, but as the deposit for the units were not made promptly, the opportunity to buy the units was given to other buyers in view of the overwhelming demand.”
PropNex is not surprised by the robust demand as the properties are attractively priced, and that landed homes – which are limited in supply in Singapore – are seen as a desirable asset by many Singaporeans. Furthermore, they are also situated in the prime District 10 area, close to prestigious good class bungalow areas and several popular schools in the vicinity.
Schools nearby include the Methodist Girls’ School (Primary), Henry Park Primary, Nanyang Primary, Pei Hwa Presbyterian Primary, Raffles Girls’ Primary, Hwa Chong Institution, National Junior College, Ngee Ann Polytechnic, and the Singapore University of Social Sciences. Meanwhile, the landed homes are about 900 metres from the Sixth Avenue MRT station and about 1 km from the King Albert Park station on the Downtown Line.
Ms Goh added, “Despite the cooling measures and high interest rates, we observe that home buyers remain on the lookout for value-buys and many of them are able to deploy funds to purchase properties when attractive opportunities arise. We are heartened to have delivered on our mandate as the sole agent for the mortgagee sale. Being the largest real estate agency in Singapore, we are able to tap on PropNex’s deep pool of property agents and wide network of clients and prospective buyers to garner a strong interest for these properties.”
Upcoming tender launch for 7 cluster semi-detached homes at Eleven @ Holland
PropNex also announced today that it has been appointed by the Char Yong (Dabu) Association, Singapore to market its 7 cluster semi-detached homes at Eleven @ Holland. The seven properties are all 3-storey plus attic and basement units, with 5 bedrooms and 5 bathrooms. The average strata area is 3,735 sq ft. Six units come with tenancies, while another unit will be sold with vacant possession.
These properties will be put up for sale via tender, which will close at 12pm, on 12 June 2023. Interested buyers can contact any PropNex salespersons to book a viewing appointment, which will take place on 10 June (Saturday) between 9am and 6pm. Those who are keen on purchasing the properties are to submit their tender bids at the PropNex office before the tender deadline.
The successful tenderer for each property will be the party who has put in the highest bid that is accepted by the vendor.