Hillhaven Price – Successful Tender Price
|Land Location||SUCCESSFUL SALE PRICE||PER SQ FT PER PLOT RATIO||Land area|
|Hillview Rise||$320,777,000||$1,024||Site Area (m2) 10,395.2|
Gross Floor Area (m2) 29,107
Date of Award 15 November 2022
Located on Hillview Rise, in the planning area of Bukit Batok, Hillhaven Condo stands as a testament to quality, luxury, and the vision of its creators, Far East Civil Engineering (Pte.) Limited and Sekisui House, Ltd.
Awarded on November 15, 2022, the site spans 10,395.2 square meters, dedicated entirely to non-landed residential use. With a gross floor area of 29,107 square meters, the property represents a substantial new addition to the local real estate landscape. The successful tender price for this highly coveted property stood at a remarkable $320,777,000.
The successful tenderers, Far East Civil Engineering and Sekisui House, outbid several other reputed companies, securing the site for a lease period of 99 years. They topped the list of bidders, offering a price of $11,020.61 per square meter of gross floor area, edging out CDL Constellation Pte Ltd, United Venture Development (No. 6) Pte. Ltd., and Sim Lian Land Pte Ltd, among others.
|RANKING||NAME OF TENDERER||TENDERED SALE PRICE ($)||TENDERED SALE PRICE IN $PSM OF GFA|
|1||Far East Civil Engineering (Pte.) Limited and Sekisui House, Ltd.||320,777,000.00||11,020.61|
|2||CDL Constellation Pte Ltd||316,800,000.00||10,883.98|
|3||United Venture Development (No. 6) Pte. Ltd.||308,380,988.00||10,594.74|
|4||Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd||283,000,000.00||9,722.75|
Hillhaven Price – Nearby Properties Transacted Price
Surrounding Hillhaven are various residential developments that highlight the attractiveness of the location. Let’s explore how the transaction statistics of these neighbouring condos could influence the future prospects for residents at Hillhaven Condo.
- The Botany at Dairy Farm: Situated approximately 1,073 meters away from Hillhaven Condo, this 386-unit development has a 99-year leasehold from 2022. It displays a strong pricing trend with a minimum price per square foot (psf) of $1,712, an average price of $2,075 psf, and a high of $2,402 psf, testifying to the solid demand in the locale.
- The Myst: About 1,092 meters from Hillhaven Condo, The Myst is another 99-year leasehold property. Boasting 408 units, it commands compelling prices: a minimum of $1,920 psf, an average of $2,068 psf, and a maximum of $2,309 psf. The favourable pricing suggests potential for capital appreciation in the vicinity.
- Mont Botanik Residence: As the closest to Hillhaven Condo at 682 meters away, this freehold development, set to complete in 2023, showcases promising investment returns. It comprises 108 units with a price range of $1,586 to $2,023 psf and an average of $1,805 psf. It also offers a strong rental yield of 4.0% with an average rent of $5.94 psf per month.
- Dairy Farm Residences: Approximately 1,276 meters from Hillhaven Condo, this under-construction development with 460 units holds a 99-year lease from 2018. It has already observed a successful sale, with prices spanning from $1,827 to $1,999 psf and averaging at $1,908 psf. A third of transactions are profitable, suggesting optimistic prospects for capital appreciation.
|NEARBY NEWER CONDO AROUND HILLHAVEN AT DISTRICT 23||HIGHEST TRANSACTED SELLING PRICE (PSF) FOR PAST 12 MONTHS||COMPLETION|
|The Botany At Dairy Farm||$2,402||Under Construction|
|The Myst||$2,309||Under Construction|
|MONT BOTANIK RESIDENCE||$2,023||2023|
|DAIRY FARM RESIDENCES||$1,999||Under Construction|
HILLHAVEN PRICE – ESTIMATE INDICATIVE / LAUNCH PRICE
Land Cost (A): The land cost is essentially the price paid to acquire the plot of land on which the condominium is built. For Hillhaven Condo, the land cost stands at $1,024 psf. This is a significant cost factor as it often constitutes a substantial portion of the total development cost. Land cost is dependent on the location, size of the plot, its zoning (whether it’s for residential, commercial, or mixed-use), and the prevailing market conditions during the acquisition.
Construction Cost (B): The construction cost refers to the expense involved in physically building the condominium. This cost includes raw materials, labor, equipment, architectural design, and engineering services. Estimated at $400 psf for Hillhaven Condo, this cost can vary widely depending on the complexity of the architectural design, the quality of finishes and materials used, and the local labor market.
Profit Margin + Other Expenses (C): This refers to the profit that the developer intends to make from the project, along with other miscellaneous costs associated with the development process. These could include legal costs, marketing and sales expenses, taxes, interest payments, and administrative costs. This figure is often represented as a percentage of the total costs (in this case, the sum of land cost and construction cost). For Hillhaven Condo, these expenses are estimated to be around $427 psf, calculated as 30% of the combined land and construction costs.
|A) Land Cost||$1,024|
|B) Construction Cost (estimate)||$400|
|C) Profit Margin + Other Expenses (30% x [A+B] )||$427|
|Estimate Launch Price (SUBJECTED TO CHANGES) (FOR EDUCATION PURPOSES, NOT FINAL SELLING PRICE)|
Latest Information Hillhaven Condo Price List As At Wednesday, December 6th 2023 updated, Register to receive the price list and book showflat appointment!