Hillcrest Arcadia Collective Sale
The Hillcrest Arcadia Collective Sale, which launched on April 3, 2025, marks a significant moment in Singapore’s real estate landscape. This ambitious endeavor aims for an impressive asking price of $920 million, which translates to approximately $1,519 per square foot per plot ratio.
Located in the sought-after District 11 of Bukit Timah, the property encompasses 272 residential units and one retail unit on a sprawling 442,165 square feet of land. The tender for this collective sale will close on May 22, 2025, setting the stage for a potential momentous shift in the local housing market.
The Hillcrest Arcadia Collective Sale offers 272 residential units in District 11, closing May 22, 2025, with potential market impact.
Each homeowner could see results that vary widely, with estimated returns ranging from $945,000 to $5.7 million based on their respective unit sizes. But it’s not all sunshine and roses. An additional $262 million would be required to renew the property’s 99-year lease, a significant investment that could deter some developers. However, the property’s zoning for residential use, along with a characteristically low-rise residential zone nearby, offers the allure of unobstructed greenery views and potential for up to 79 new homes. This site is zoned for residential use with a gross plot ratio of 1.6.
Positively, the luxury property market in Bukit Timah remains buoyant, driven by high demand and declining interest rates, even as recent extensions on the Additional Buyer’s Stamp Duty remission relief add to the competitive edge. The market remains cautious as analysts predict a modest price decline of 3% in the overall property market for 2024.
Yet challenges remain, including a failed en bloc sale attempt back in 2018, raising concerns about the community’s unity— they need 80% consent to succeed, an uphill battle.
Managed by Huttons Asia, who understand the intricacies of the market, the Collective Sales Committee, headed by Hazel Tan, believes this is the right moment for such a sale.
If successful, Hillcrest Arcadia’s collective sale could not only reshape its residents’ futures but also set a precedent for similar aging leasehold properties seeking new life in the ever-evolving Singapore property scene.
