Property Herald: How Skye at Holland became the best-selling residential launch of 2025, but other launches shouldn’t expect same results

Summary

Skye at Holland, the first major condominium to be launched after the Ghost Month, enjoyed strong sales during its launch. The strong sales of this launch bode well the other upcoming residential launches in October.

At least three other residential projects with a combined 1,567 units could be launch this month, which would serve as the catalyst to spur a repeat of the homebuying frenzy witnessed in July and August when developers sold 3,082 private homes.

However, most of the other upcoming residential projects may not enjoy the same take-up rate because they do not have the same attributes such as proximity to a major retail mall, MRT station and popular primary schools.

Furthermore, the job security of the average Singaporean is assailed by economic uncertainties. It is only a matter of time before the approaching dark clouds in the economic horizon cast a chill on the Singapore housing market.

Therefore, developers can congratulate themselves if their new project launch achieves sales of above the market average rate of 63.4%.

Introduction

The first major private condominium to be launched after the Ghost Month is met with the open cheque books of eager buyers this weekend.

Skye at Holland, a 666-unit condominium located at Holland Village Way, is launched for sale to the public on Saturday, 11 October 2025. The residential project is located at Holland Village in District 10, which is part of the Core Central Region (CCR).

By the end of first day of its public launch, 98.8% of the 666 units were sold.

Source: Mogul.sg Research

Pace of sales

Skye at Holland is jointly developed by UOL and CapitaLand Development. The developers reportedly collected 2,151 cheques from buyers, which translates to an average of 3.23 cheques for every unit in the condominium.

During the launch to VIPs a day before the public launch, about 200 units in this development were already purchased by the invited guests. At the public launch on 11 October, half of the 666 units in the development were sold when the clock strikes noon.

By the end Saturday, buyers have snapped up close to 99% of the 666 units, making this development the best-selling residential launch so far in 2025.

The spectacular take-up rate at Skye at Holland mirrors that of the best-selling residential project of 2024, Emerald of Katong, where 98.7% of the 846 units in the latter were sold during the launch in November 2024.

The 99-year leasehold Emerald of Katong was the best-selling private residential development in 2024 in terms of number of units sold as well as the proportion of the total number of units sold in the first weekend of its launch.

Brief description of Skye at Holland

Skye at Holland is built on a 133,343 sq ft site that was a former public car park at Holland Village. The developers acquired the site through a Government Land Sale tender in May 2024 for $805.39 million, which translate to a land rate of $1,285 psf ppr.

One of the major strengths contributing to the rapid sales of this 99-year leasehold development is its location near to a large shopping mall at Holland Village, which in turn is a 3-minute walk to the Holland Village MRT Station. Hence, Skye at Holland is located within a few minutes’ walk to a MRT station, which is a major draw for both owner-occupiers, tenants and property investors.

Secondly, the large retail mall, One Holland Village contributed to the successful launch of Skye at Holland. The mall widens the retail and F&B amenities and choices in Holland Village, drawing new middle and upper-middle income shoppers to this location. The completion of the mall has also improved vehicular and pedestrian traffic flow.

In addition, another selling point of Skye at Holland is the 40-storey height of the two residential blocks of the development, which is taller than its neighbouring 34-storey One Holland Village Residences.

The fourth key factor contributing to the strong demand for Skye at Holland is the average price of $2,953 psf, which is lower than the average prices of other recent CCR residential launches.

Table 1: Private residential projects in CCR launched in 3Q 2025

CCR Residential project	Location	Land tenure (leasehold)	Total units in project	No. of units sold during launch	% of project sold during launch	Average price ($psf)
W Residences Marina View Singapore	Shenton Lane	99 years	683	2	0.3%	$3,344
The Robertson Opus	Unity Street	999 years	348	143	41.1%	$3,360
Upperhouse at Orchard Boulevard	Orchard Boulevard	99 years	301	162	53.8%	$3,350
River Green	River Valley Green	99 years	524	460	87.8%	$3,130

Source: Mogul.sg Research

Four major residential projects in the CCR were launched in July and August 2025 at average prices ranging between $3,130 psf and $3,360 psf. Please see Table 1.

Therefore, the average price of $2,953 psf for Skye at Holland which is also in the CCR, attracted homebuyers like bees to honey.

Another factor drawing buyers to Skye at Holland is the development’s proximity to a few popular schools, such as Henry Park Primary School and Fairfield Methodist School (Primary), which are located less than two kilometres from the condominium. Henry Park Primary School is counted as one of the ten most popular primary schools in Singapore.

Table 2: Private residential projects in CCR launched in 3Q 2025

S/N	Name of primary school	Distance from subject site (m)
1	Henry Park Primary School	1,080
2	Fairfield Methodist School (Primary)	1,490
3	New Town Primary School	1,580
4	Tanglin Junior School	1,640

Source: Mogul.sg Research

The proximity to the popular schools enhances the condominium’s appeal to families with young children and widen the pool of buyers for the resale units in the future.

Conclusion

The remarkable sales at the launch of Skye at Holland is the results of the stars being aligned for this project. Some of the fortuitous factors such as the successful operation of One Holland Village mall and the popularity of the schools near the condominium are beyond the control of the developers.

Therefore, one should not expect the new residential projects waiting to be launched to repeat the same robust sales achieved at Skye at Holland. With one or two exceptions, most of the upcoming residential projects do not tick all the boxes such as proximity to a MRT station, a successful major retail mall and popular primary schools in the surrounding.