Mortgagee sale of maisonette at Villa Delle Rose priced from $5.8 mil
By Timothy Tay
/ EdgeProp Singapore |
Located on Taman Nakhoda off Holland Road, the freehold Villa Delle Rose is close to the Singapore Botanic Gardens and the restaurants at Dempsey Hill and Holland Village.
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A two-storey maisonette at Villa Delle Rose, a freehold development in prime District 10, will be put on the block at Knight Frank’s upcoming auction on Dec 12. The three-bedroom 3,261 sq ft unit has a guide price of $5.8 million, translating to $1,779 psf on the floor area.
This is the first time the unit, a mortgagee sale, is being auctioned. The maisonette spans the first and second floors of a four-storey apartment block. Among the 80 low-rise apartment blocks and two-storey townhouse blocks, there are 104 three-bedroom townhouses and maisonettes within Villa Delle Rose.
The unit’s first floor includes a car porch with room for approximately two cars. A private entrance leads to the split-level dining and living room. An outdoor terrace opens to a private ground-floor courtyard.
Additionally, this floor encompasses a powder room, an enclosed wet kitchen, a storeroom, and a yard. The second floor houses the en suite master bedroom with a walk-through wardrobe and two en suite bedrooms connected by a communal family area.
The ground floor courtyard of the subject unit. (Picture: Knight Frank)
Villa Delle Rose was developed by Pontiac Land, which completed the project in 1982. Located on Taman Nakhoda off Holland Road, the development is close to the Singapore Botanic Gardens and the restaurants at Dempsey Hill and Holland Village. Nearby MRT stations include Holland Village on the Circle Line, Napier on the Thomson-East Coast Line, and Commonwealth on the East-West Line.
Based on a tabulation of resale caveats compiled by EdgeProp Singapore, resale prices at Villa Delle Rose have risen steadily over the past two decades from about $896 psf in November 2003 to $1,267 psf by November 2013. EdgeProp Singapore estimates that the resale price at Villa Delle Rose was approximately $1,576 psf last month.
There has not been a resale transaction at Villa Delle Rose since 2021 when a 2,820 sq ft unit was sold for $4.3 million ($1,528 psf) in August. This was preceded by selling a 2,809 sq ft unit that fetched $4.2 million ($1,495 psf) when it was sold in November 2020.
The exterior of the low-rise block where the subject unit is located. (Picture: Knight Frank)
This makes Villa Delle Rose one of the most affordable freehold residential developments in the neighbourhood, which includes Sommerville Park, Gallop Green and Gallop Gables on Woollerton Park, Sommerville Grandeur on Farrer Drive, and Spanish Village on Farrer Road.
According to resale caveats tabulated by EdgeProp Singapore, Sommerville Park has seen resale units transact at an average of $2,076 psf. This is on par with Sommerville Grandeur, which has recorded an average resale price of $2,066 psf.
This area of Farrer Road and Holland Village has witnessed the introduction of several new projects that established benchmark prices. The 85-unit Wilshire Residences on Farrer Road achieved an average selling price of $2,760 psf when the project was completely sold in May. The project was initially launched for sale in April 2019.
The largest new development in the area is the 638-unit Leedon Green, which is almost fully sold nearly four years after it launched in January 2020. Based on developer sales data, the average selling price is about $2,891 psf. This is slightly higher than the $2,863 psf set by neighbouring Hyll on Holland on Holland Road, a 319-unit development launched in October 2020 and fully sold by August this year.
No new project launches are anticipated in Holland Village and Farrer Road in 2024. Consequently, the buying demand is expected to return to the secondary market.
Check out the latest listings for Villa Delle Rose properties
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