Hillhaven Condo Review: Location, Price And Investment Analysis

Hillhaven's Unique Selling Points

• Jointly developed by Far East Organisation and Sekisui House, two real estate conglomerates with stellar track records of building quality homes
• Located within a serene and leafy private residential enclave
• Excellent transport connectivity, with the Hillview MRT station on the Downtown Line just 5 minutes walk away
• A green living environment near several nature parks such as Bukit Timah Nature Reserve, Bukit Batok Town Park, Dairy Farm Nature Park, and Hindhede Nature Park
• Convenient access to shopping malls and amenities, with HillV2 situated just opposite the development
• Near Beauty World food haven
• Proximity to good schools, including international schools
• Promising investment potential amid the transformation of Beauty World

Hillhaven Condo Fact Sheet

Unit Mix

Who are the Developers of Hillhaven?

Hillhaven Condo will be jointly developed by Far East Organization and Sekisui House. Both are trusted real estate developers with excellent track records of producing quality homes. Together, they have developed many quality homes such as One Holland Village Residences, Boathouse Residences

Far East Organisation: Established in 1960, it is the largest privately held property developer in Singapore with a diverse portfolio of residential, hospitality, and commercial projects. Some of its notable residential developments are The Reserve Residences, One Holland Village Residences, and Parksuites.

Sekisui House: A renowned real estate developer based in Japan, it is one of the largest homebuilders in the world. Partnering with local developers, it seeks to develop housing with high added value that corresponds with the lifestyle of the area. For example, it has collaborated with the Far East Organisation in developing the mixed-use development of One Holland Village Residences and the commercial development of Woods Square.

What are the Prices for Hillhaven?

During Hillhaven's launch on 20 January 2024, 59 of 179 units released were sold. Based on the units released, the take-up translates to 33%. However, the proportion of units sold is 17.3%, based on a total of 341 units. Prices at Hillhaven started from $1,903 psf.

The average sales price was not available but is expected to be between $2,000 psf to $2,100 psf.

During the government land sale (GLS), the joint venture between Far East Organization and Sekisui House was awarded the 10,395.2 sq m site on 3 November 2022 by placing a top bid of S$320.78 million. This translates to a land rate of S$1,024 per square foot per plot ratio (psf ppr).

In comparison, the Botany At Dairy Farm nearby was sold at an average price of $2,070 psf when it was launched for sale on 5 March 2023. However, it had a lower land cost of $980 psf ppr when it was awarded to Sim Lian Group in March 2022 but is located further away from the Hillview MRT station compared to Hillhaven.

Where is Hillhaven Condo Located?

Hillhaven Location

Hillhaven condo is located about 5 minutes walk from the Hillview MRT station on the Downtown Line and lies within a quiet private residential enclave. Across it is the Hillview community club which offers residents in the area a variety of interesting courses.

3 minutes walk from Hillhaven is HillV2, a mixed-development with a shopping podium that offers a mix of dining, retail, and service outlets. It also houses a Cold Storage supermarket that sells a wide variety of fresh produce.

Just one station away (or two when the Hume station is completed) is Beauty World, a vibrant neighbourhood with several shopping malls and lots of eateries. Two stations away are Bukit Panjang, home to shopping malls like Hillion, Bukit Panjang Plaza and Junction 10.

Hillhaven is also located close to several nature parks such as Bukit Timah Nature Reserve, Bukit Batok Town Park, Dairy Farm Nature Park, and Hindhede Nature Park. This will offer residents a green living environment and an abundance of fresh air.

Nature Parks Near Hillhaven Condo

There are several nature parks near the Hillhaven condo. Besides providing a green and pleasant living environment, they also offer many other benefits. For example, they will encourage residents to adopt a more active lifestyle by taking up jogging, biking, or hiking. They and their children can also learn about the rich flora and fauna, providing an excellent educational experience.

Below are some of the nature parks located near Hillhaven:

Bukit Timah Nature Reserve: One of Singapore's largest remaining rainforests and within its expansive embrace resides a wide array of flora and fauna, which included the endangered Raffles' banded langur. It is a true haven for those who wish to explore the untamed beauty of nature. Venturing deeper, visitors will find a tapestry of hiking trails and nature walks beckoning them.

Bukit Batok Town Park: Popularly known to locals as Little Guilin, its tranquil lake is set against towering rock cliffs. Besides offering a stunning backdrop for photography enthusiasts, it is also a great place for a leisurely walk, exercise or picnic.

Dairy Farm Nature Park: Offering a unique combination of nature and rustic charm, it offers residents a variety of recreational activities such as hiking and bird watching. Within the park is the Wallace Education Centre where visitors can learn about the biogeography and biodiversity of the region. There is also a former quarry that offers visitors a peaceful retreat from the hustle and bustle of city life.

Hindhede Nature Park: The park's easy trails are perfect for families with young children to explore nature, while the playground and look-out points offer stunning views of the surrounding area. Residents can enjoy a peaceful walk, go wildlife spotting, or have a picnic in the park.

Excellent Transport Connectivity

Hillhaven is near Hillview MRT station

With Hillhaven just a 5-minute walk to the Hillview MRT station on the Downtown Line, residents will enjoy convenient access to many shopping destinations.

These include Beauty World (1 stop) and Bukit Panjang (2 Stops). The Downtown Line also offers direct access to the city centre such as Newton, Bugis, and Bayfront for different shopping and entertainment experiences.

For those with private transport, the Bukit Timah Expressway (BKE) and Pan Island Expressway (PIE) are just 3-5 minutes drive from the development.

These expressways will offer convenient access to major commercial and employment hubs such as Jurong Lake District, Woodlands Regional Centre and Downtown Singapore.

What are the Shopping Malls Near Hillhaven Condo

The nearest shopping mall near Hillhaven condo is HillV2, a mixed-use development with a 2-storey commercial podium. Located only about 2 minutes walk away, it offers a curated mix of retail, dining, and services in a very relaxed and open environment.

The amenities at HillV2 include a supermarket for daily grocery needs, a variety of restaurants and cafes offering different cuisines, and a selection of retail shops for lifestyle and home needs. It also offers services such as beauty salons and enrichment centres.

Meanwhile, the Rail Mall is about 10 minutes walk from Hillhaven. Located at Upper Bukit Timah Road and next to Dairy Farm Nature Park, it offers a unique retail and dining concept set in a rustic environment. The mall consists of a long strip of shops that was formerly a railway station and they have now been transformed into shops, restaurants, and cafes.

Slightly further away is Beauty World, home to several shopping malls such as Bukit Timah Plaza, Bukit Timah Shopping Centre, Beauty World Plaza and Beauty World Centre. And by 2028 when The Reserve Residences is completed, a new shopping mall will be added to the area.

At Bukit Panjang in the opposite direction and two stops away from Hillview MRT station are shopping malls such as Hillion, Bukit Panjang Plaza, and Junction 10.

With so many shopping malls within easy access, they will provide residents of Hillhaven with a retail ecosystem without the need to travel all the way to the city.

A Food Haven at Beauty World

Beauty World offers a wide array of dining options that cater to different tastes and budgets. Home to the Beauty World Centre Hawker Centre and Bukit Timah Food Centre, as well as a plethora of eateries at Cheong Chin Nam Road and Chun Tin Road, food lovers will be spoilt for choice.

Besides affordable local hawker fare such as Laksa, Hokkien Mee, and Chicken Rice, there are also numerous restaurants and cafes serving cuisines from around the world, including Japanese, Korean, and Western food.

One of the most famous shops there is Ng Kim Lee Confectionery, an old-school bakery that has been in business for 60 years. The bakery is renowned for its Teochew-style pastries and Western cakes, such as pandan cake, cheesecake, egg tart, muffin, and zebra cake, among many others.

What are the Schools Near Hillhaven?

Families with children will find a good choice of educational institutions in the vicinity of Hillhaven Condo. These schools offer a variety of quality education options for children of all ages while their close proximity will translate to shorter commutes, thus providing them more resting time and a better quality of life.

Although the above are not considered “branded” schools, there are many highly sought-after ones along Bukit Timah/Dunearn Road which are served by the MRT Downtown Line. These include the following:

• Methodist Girls’ School
• Chinese High School
• Nanyang Girls’ High School
• Singapore Chinese Girls’ School
• Hwa Chong Institution
• National Junior College

International Schools Near Hillhaven

For those looking for investment, several international schools are only 4-12 minutes drive from Hillhaven. The proximity of these international schools can potentially attract housing demand from expatriates and some of them are:

• German European School Singapore
• Dimension International College (Bukit Timah Campus)
• Hollandse School
• Swiss School
• Singapore Korean International School

Beauty World Transformation Offers Promising Investment Potential

Under the URA Master Plan for Beauty World, the precinct will be transformed into a vibrant and sustainable community. In addition to the development of The Reserve Residences, an integrated development connected to a new bus interchange and Beauty MRT station, the plan also includes the following initiatives:

• Building a one-stop integrated facility with a community club, indoor sports hall, community library, and elderly facility
• Designing public spaces and pedestrian networks that are well-integrated with transport and community nodes
• Creating more green spaces, parks, and lush streetscapes for recreation, relaxation, and social interaction
• Undertaking sustainability and environmental protection efforts in all aspects of the development

The upcoming developments are expected to improve the liveability of the area and attract new businesses and residents. This could boost property values, making Hillhaven an attractive investment option.

Review Conclusion: Hillhaven's Investment Analysis

Hillhaven Condo presents a convenient and quality living environment due to its proximity to transport nodes, amenities, quality educational institutions, and convenient access to major employment hubs.

Moreover, it is located in a serene private residential enclave and near many nature parks, which will help to elevate the quality of living.

Meanwhile, the transformation of Beauty World, which is near Hillhaven, can be expected to increase the vibrancy of the area. At the same time, the development of the integrated transport hub (ITH) will have a positive spillover effect on the surrounding properties.

This is because the ITH will provide a convenient and efficient way for people to travel to and from the area. By improving footfall, businesses will naturally be attracted to the area which will bring more amenities for the benefit of residents.

But going forward, how will Hillhaven perform? To find out its capital appreciation potential, let us compare how average property prices have performed over a 10-year period in District 23, District 22 and District 21.

10-year Average Price Trend Comparison - District 23 vs District 22 vs District 21

As can be seen from the chart above, the following are the 10-year average price gains (as of 25 August 2023):

• District 23  (Hillview, Dairy Farm, Bukit Panjang, and Choa Chu Kang): +61.4%
• District 22 (Jurong): +63.2%
• District 21 (Upper Bukit Timah, Clementi, Ulu Pandan): +88.5%

The 10-year average price gain of District 23 (+61.4%) is slightly below District 22 (+63.2%), while both underperformed against District 21 (+88.5%) quite significantly.

However, District 21 is more centrally located (city fringe) and has a more affluent population. Hence, a better comparison will be between District 23 and District 22 as both are in the suburbs. Nevertheless, it still offers a good insight into how the Singapore property market has performed in the last 10 years.

Meanwhile, District 22 has done better than District 23 due to the huge government's effort to develop the Jurong Lake District into the largest Central Business District outside the city. But rather surprisingly, the difference in their 10-year average price gains is rather marginal.

This indicates that District 23 can be an attractive option due to its green and serene living environment, convenient access to a plethora of amenities, and improved transport services. Perhaps, one of its main draws is the convenient access to many brand-name schools along the Bukit Timah/Dunearn Road belt via the Downtown MRT Line, as highlighted earlier.

For those with school-going children or a tighter budget, Hillhaven may be a good option as it is likely to be one of the most affordable new launches this year, with the other being The Arden and Botany At Dairy Farm.

In the last few years, there have not been many new launches in the Hillview area, other than Midwood (October 2019), Dairy Farm Residences (November 2019), and Botany At Dairy Farm (March 2023). This should assuage some concerns of over-supply.

Meanwhile, Midwood and Dairy Farm Residences are fully sold, while the Botany At Dairy Farm is 54.7% taken up (as of 25 August 2023) despite a slew of new property launches hitting the market recently. This further suggests that the housing market in Hillview remains resilient and is attractive to homebuyers.

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