Executive condominiums are an increasingly popular housing choice in Singapore. Offering many advantages while adhering to certain restrictions – such as having to abide by a 10-year Minimum Occupancy Period and only selling or renting them to Singapore citizens and PRs – executive condos have quickly become increasingly attractive options for renting or selling.
Owner-occupiers tend not to worry much about these restrictions since they won’t be selling or renting the property anyway.
Location
Holland Village, conveniently situated along the Circle Line of the MRT, provides expats looking for a full city experience an ideal location. Notable features in this neighborhood include restaurants, fashion stores and art galleries.
Holland Road and Farrer Road are home to numerous condominium developments, some of which may soon be up for en-bloc sale, while other projects, like The Interlace and D’Leedon are more recent developments that feature intricate designs.
Executive condos, popularly referred to as sandwich flats, have become increasingly attractive among young professionals and families in Singapore. Buyers must meet several criteria before being eligible to purchase such an apartment, including creating a family nucleus consisting of at least two Singapore citizens or permanent residents who together form at least a two-member nucleus; fulfilling HDB eligibility scheme requirements; and not owning any private properties either locally or overseas.
Size
Hyll on Holland is an exceptional new launch condo with modern urban styling and access to lavish amenities, making it a top choice among homebuyers, property investors and upgraders in the area. Situated near Holland Village MRT Station for ease of transit access.
This project is an innovative combination of public and private housing designed to serve those in the “sandwich class,” who earn too much for BTO flats but don’t make enough to qualify for private properties. They provide upgraders who desire the space and amenities offered by condos without qualifying to buy one as an option.
Holland Village MRT station is within an easy walk, providing stunning city views and Nanyang Primary and Henry Park Primary schools are nearby. However, road noise from Holland Road and Farrer Road could become an issue for families with young children living here; other developments nearby provide further exploration opportunities.
Amenities
Holland Village is an attractive neighborhood that caters to young Singaporeans and expats looking for an active living experience. The neighborhood boasts plenty of food, drink and entertainment venues lining its Holland Road and Lorong Mambong streets – as well as its own MRT station!
Holland Tower, situated within walking distance of Holland Village MRT Station, is currently being revamped by Wing Tai Holdings with plans to convert it into luxury housing.
Holland Village offers some private developments as well, such as Lincoln Suites and Sommerville Park by FEC Skypark Pte Ltd, offering two and three bedroom units respectively. Van Holland from Far East Consortium and Koh Brothers Development offers another freehold development option with 69 units spread out among three sleek buildings featuring luxurious amenities that exude unmatched opulence.
Price
Executive condominium prices typically tend to be more reasonable than private condo prices due to government subsidies for executive condos (ECs). Furthermore, buyers still qualify for CPF housing grants when buying an EC.
Buyers should be mindful of the minimum occupation period for an EC before selling or renting out their property – five years from its date of TOP. During this time, only Singapore Citizens and Permanent Residents can sell or rent out their EC; after MOP comes into effect it becomes fully privatised and can be sold to foreigners.
Far East Consortium and Koh Brothers Group’s Van Holland development is located nearby Holland Village MRT Station and features luxury living at its best, within steps from Holland Road and just a short bus ride to major employment clusters One North, Buona Vista, and Kent Ridge.