New Condo Hillhaven @ Hillview Rise

New Condo Hillhaven

New Condo at Hillview Rise — New Condo Hillhaven at Hillview Rise

New Condo Hillhaven, Upcoming New Condo Developer Sale at Hillview Rise and Bukit Timah Link.

Two residential Government Land Sale (GLS) sites at Bukit Timah Link and Hillview Rise have been launched for sale via tender, according to a media release by the URA on Aug 31. The two sites are under the Confirmed List for the 2H2022 GLS Programme and can yield about 495 residential units.

The site at Bukit Timah Link has an area of 49,633 sq ft and a maximum building height of 20 storeys. The 99-year leasehold site can yield approximately 160 units, with a maximum gross floor area (GFA) of 148,908 sq ft.

The GLS site at Hillview Rise has an area of approximately 111,893 sq ft. The 99-year leasehold site can yield approximately 335 units, with a maximum GFA of 313,305 sq ft.

Hillhaven is located next to the Hillview Community Club and is within walking distance of Hillview MRT Station on the Downtown Line.

Huttons’ Lee says that the future development at the site will not face much competition, given that the upcoming Hong Leong Group development Midwood, located beside the Hillview Rise site, is already sold out. The 564-unit condo was launched in October 2019, with units sold at an average price of $1,674 psf, based on caveats lodged.

Lee anticipates up to eight bidders for the Hillview Rise site, with the top bid estimated between $1,000 and $1,110 psf ppr.

Steven Tan, CEO of OrangeTee & Tie, notes that the most recent sales of a GLS site in the vicinity was the 99-year leasehold plot at Dairy Farm Walk in the upper Bukit Timah area. The site was awarded in March to Sim Lian Group at a tender price of $347 million or $980 psf ppr. The site can yield between 350 and 400 residential units.

For the Hillview Rise site, he anticipates six to eight bidders with a bid price between $950 and $1,050 psf ppr, which may translate to an eventual selling price of around $1,800 to $1,900 psf.

Things you might want to know more about Hillhaven at Hillview Rise District 23.