A STONE'S throw from the prestigious Bukit Timah area, Upper Bukit Timah is firmly on the hot list for next year.

Home prices could double to $1,200 per sq ft (psf) in the quiet residential district, from an average of $684 psf now, according to property consultancy Savills Singapore.

It is predicting that prices in the area, which is dotted with condominiums from Hillview Terrace to Hume Avenue, can reach $900 to $1,200 psf by next year.  

"We feel that the 30 or so condominiums along Hillview Avenue and Hume Avenue, most of them 999-year leasehold or freehold, have been overlooked and are still undervalued," said Savills.

Some condos on the stretch include MeraLodge, The Petals, Chantilly Rise, Hillington Green, Parc Palais and Hume Park 1 and 2. Already, prices at these  projects have climbed over the last 12 months.

At developments such as Montrosa in Hillview Avenue, average prices have nearly doubled, Savills data shows. They jumped 98 per cent to $661 psf in the third quarter of this year from $334 psf a year ago.

Other projects have enjoyed more modest increases. Prices at Parc Palais in Hume Avenue have gone up 44 per cent to $711 psf on average.

Along Hillview Avenue, average prices for Hillview 128 have risen 54 per cent to $624 psf, while those at Hillington Green have increased 62 per cent to $712 psf.

Prices will further be boosted by new launches such as Hillvista by Far East Organization and Park Natura by UIC and Singapore Land (SingLand), said Savills.

Is this article useful to you?