3 Reasons Why Terra Hill is a Terra-fic Home for You

This article was brought to you in conjunction with Hoi Hup Realty and Sunway Developments, and ERA Property Megashow – the premier event for discovering valuable investment opportunities in Singapore.

Terra Hill is a small development with 270 housing units developed through a joint venture between Hoi Hup Realty and Sunway Developments.

The development is located on the incline of Yew Sian Road, with the entrance and the highest point of the development having a 20-metre difference. It has five storeys of residential blocks, with a good elevated view of surrounding infrastructures such as the Port of Singapore Authority (PSA) Pasir Panjang Port, other low-rise housing developments, and lush greenery from parks nearby.

Terra Hill is also the epicentre of several major business nodes, being less than 15 minutes away from these centres by car, which may appeal to professionals looking for a home within the vicinity of their workplaces.

Picture 1: Map of Terra Hill and Singapore’s Work Hubs

The development is served by the Circle Line, with Pasir Panjang MRT Station being an eight-minute walk away from Terra Hill. Residents will be connected to Harbourfront MRT and bus Interchange, Buona Vista MRT Interchange and the northern and eastern parts of Singapore through these interchanges.

By 2026, the Circle Line will be completed with three stations being built between Harbourfront and Marina bay MRT stations, closing the circle on the MRT line. This will increase connectivity to several major business nodes including the Central Business District.

Picture 2: Circle MRT Line

Source: Land Transport Authority, ERA Research and Market Intelligence

For residents who mainly drive, the West Coast Highway and the Ayer Rajah Expressway (AYE) are two major expressways that serve the area and connects residents to the rest of the island. A new road connecting South Buona Vista Road to Portsdown Avenue will be built to connect both expressways, making driving in the area easier.

Picture 3: New Road linking West Coast Highway to Ayer Rajah Expressway

Source: Hoi Hup Sunway, ERA Research and Market Intelligence

Sitting on the former site of Flynn Park Condominium, the new and improved condo development has a wider variety of unit types ranging from two bedroom to five-bedroom penthouses, with high quality facilities and installations from reputable brands such as De Dietrich, Gessi, Laufen, and Samsung.

Now, let’s delve into the three reasons why you should buy a Terra Hill property.

Reason 1: 270 exclusive freehold units

Freehold land in Singapore is already limited, and with the high demand for freehold housing from Singaporeans and foreigners, the 270 units in Terra Hill are rare and exclusive, being the one of the two latest freehold launches in the Rest of the Central Region (RCR). Residents will enjoy indefinite exclusivity and tranquillity within the estate. Additionally, properties surrounding Terra Hill include landed housing and other low-rise private developments, adding to the tranquil ambience.

Reason 2: Exit Strategy for owners (Greater Southern Waterfront Development)

As part of the URA Master Plan, the Greater Southern Waterfront will be transformed into a major gateway and location for urban living along Singapore’s southern coast. The waterfront will include over 9,000 new housing units, both public and private, more offices spaces, job opportunities, more entertainment and leisure options. This will be accomplished through the repurposing and revitalisation of current structures such as the Pasir Panjang Terminal. This waterfront precinct is six times the size of Marina Bay, and residents of Terra Hill will be able to see the transformation of the area over time from their homes.

Picture 4: Former Keppel Club site to be redeveloped into HDB flats

The construction of these HDB flats will provide a supply of potential future upgraders for owners of Terra Hill, adding another dynamic element to its existing exit strategy. They will have plenty of new public and private housing options to right size or upgrade to after the development of the Greater Southern Waterfront.

Reason 3: Freehold but has comparable prices to leasehold properties nearby

Given the rarity of freehold units in the RCR and Singapore, the price of units in Terra Hill are generally lower compared to other developments in its region, which make this a very affordable option for those looking for a freehold property in the city fringe.

Chart 1: New Sale Leasehold (99 LH) vs Freehold Properties in District 5 (D5)

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

As the price gap between freehold properties and leasehold properties in the area is decreasing, buying Terra Hill would be a good deal since the price paid for this property would be similar to that of a leasehold property in the same area.

And this is not only seen for new sale properties, but also resale properties in D5. Although the average price of a resale freehold property is still more expensive compared to a leasehold property, it is more valuable to buy the freehold property since the prices are very similar, yet the tenures drastically differ.

This could be due to the freehold developments being generally older than the leasehold developments in the area, with Terra Hill being one of just two new launches in D5 in the past two years.

Chart 2: Resale Leasehold vs Freehold Properties in D5

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

Here are the units available at Terra Hill.

Consisting predominantly of three-room apartments, Terra Hill’s target audience may likely be investors, young couples or retirees looking to right size from a bigger house. For those who wish to rent instead of buy, rental rates in D5 are comparable with the RCR, with the number of rental contracts in D5 seeing a general increase in the last five years. Expats who work in the city or in key nodes should definitely consider renting Terra Hill, given the comparable rates.

Table 1: Unit types available at Terra Hill

Source: ERAPro, ERA Research and Market Intelligence as at 19 Nov 2024

Chart 4: D5 vs RCR Median Rents

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

Now, let’s take a look at some unit types Terra Hill has to offer.

Two Bedroom + Study Floorplan

Built in a “dumbbell” layout, the two-bedroom + study layout offers an open kitchen concept, which may help eliminate underused space within the house. The study is placed in a corner that opens to the living and dining area, offering some privacy. Similarly, the bedrooms are placed at opposite sides of the apartment which offer privacy to the occupants of each room. The apartments in this particular type of units (B3) also have a balcony, which other two-bedders in the development do not have.

Starting from $2,125,000, investors, Dual-Income-No-Kids (DINKs) or individuals looking to buy or rent a small space may be keen to purchase this type of unit.

Four Bedroom Floorplan

Under the prestige collection of units, which are limited to the four to five-bedroom penthouse residences, a private lift lobby will serve individual units, together with several other prestigious fittings in the units.

One other special thing about the four and five room units in Terra Hill is that they have both a dry and wet kitchen, which can help to keep the place organised. Unlike the two- and three-room apartments, the four-bedroom apartments are built in a “corridor” layout, where all the rooms are connected through a common corridor. The bedrooms are placed together at a corner of the apartment, with bathrooms nearer to the bedrooms to increase convenience to the occupants of the room.

Despite the smaller living space, this type if unit may appeal to larger families. These units are priced from $3,503,000.

Interested in learning about Terra Hill? Connect with an ERA Trusted Adviser today for more information.

Disclaimer

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