The Hill @ One-North sells 43 units at launch; Hillshore sells 3
The Hill @ One-North experienced a modest uptake, with approximately one-third, or 43 units, sold on the initial booking day. Described as one of the lowest take-up rates for the first weekend of a launch among major private residential projects in 2024, the units were sold at an average price of around $2,595 per square foot (psf) on April 20. These units primarily comprised two-bedroom, two-bedroom plus study, three-bedroom, and three-bedroom plus study apartments, with sizes ranging from 732 sq ft to 1,259 sq ft. Additionally, the development includes four-bedroom units and five commercial units. Expected to obtain temporary occupation permit by December 2026, the project saw 86% of home buyers being Singaporeans, with the remainder being permanent residents and foreigners.
Mr. Nicholas Mak, Chief Research Officer of Mogul.sg, attributed the “muted” sales to the higher prices compared to nearby developments like Blossoms by the Park, which was priced at $2,427 psf. He noted that the developer has ample time to sell the units before the additional buyer’s stamp duty deadline in 2026 and may not rush to lower prices.
While the lower take-up rate at The Hill @ One-North compared to Blossoms by the Park was somewhat expected, PropNex Chief Executive Ismail Gafoor deemed it “decent” given the current market sentiment. Blossoms by the Park achieved over 70% sales during its launch in April 2023. Gafoor attributed the cautious market sentiment to easing home sales, buyer fatigue, and a lack of urgency among buyers.
In contrast, boutique development Hillshore sold three out of its 59 units during its launch on April 20. Gafoor noted that sales at boutique developments are typically gradual, catering to buyers seeking a more tranquil and exclusive living environment due to the smaller number of units available.
