Buyer Purchases 10 Semi-Detached Houses In Holland Link Mortgagee Sale In One Shot
In a mere three days, eager buyers bought all 48 semi-detached houses available at the Eleven@Holland mortgagee sale.
Source: Google Maps
A noteworthy purchase was made by a particular buyer who bought 10 houses in one shot.
Here’s a look at what happened at the mortgagee sale for Eleven@Holland.
Many buyers purchased their houses on the first day of the sale
The Eleven@Holland project in District 10 comprises 82 units. However, the mortgagee sale had 48 units available after its developer went into liquidation last November.
Of the 48 units, 45 are three-storey units with five bedrooms and bathrooms. Each of them also includes a private lift and two private parking lots.
Meanwhile, the remaining three units are two-storey houses with an attic and basement.
According to Shin Min Daily News, each house on sale was priced at an average of S$3.7 million. However, this did not stop people from buying the houses in a flash.
In May, real estate agency PropNex Realty announced that the houses at Eleven@Holland would be available for viewing to the public from 3 June. However, even before the properties went up for sale, there was a lot of excitement surrounding the mortgagee sale.
Due to the high popularity of the property, potential buyers had to hand over a cheque equal to the property’s value before they could view the houses. Ultimately, the properties were up for viewing on 1 June instead, and many viewers decided to buy their properties on the day itself.
In fact, one buyer bought 10 of the semi-detached houses in one go.
People bought the property even without viewing them in person
Even though viewing was not available on 2 June due to Vesak Day, people still chose to purchase the semi-detached houses without viewing them.
On 3 June, all houses were bought by around 11am.
Shin Min Daily News reported that over 100 potential buyers visited Eleven@Holland across the three days.
A property agent noted that while there was a 30% Additional Buyer’s Stamp Duty, buyers evidently still found the properties worth purchasing.
Mortgagee sale occurred as developers when into liquidation
According to the Business Times, the 99-year leasehold units are part of an 82-unit project developed by Clydesbuilt (Holland Link).
However, they went into liquidation in November 2022. This caused the properties to be mortgaged to Hong Leong Finance.
According to PropNex Realty on Facebook, the 48 units are located around 1km from Sixth Avenue MRT station and King Albert Park MRT station.
Furthermore, the houses are near multiple schools, including Nanyang Primary and Raffles Girls’ Primary. They are also relatively near other educational institutions like Hwa Chong Institution and Ngee Ann Polytechnic.
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Featured image adapted from PropNex Realty on Facebook.
