Holland Village is at a Crossroads, Where Could It Head from Here?

Holland Village has been the talk of the town of late, but not for the same reasons as before.

In its heyday, this centrally-located town was widely recognised as one of Singapore’s most iconic cultural hotspots, especially with its varied nightlife venues and dining options that drew in crowds. More recently, however, it has made headlines for much a different reason: Holland Village has taken on a new identity, though not by choice.

Once a neighbourhood steeped in artistic charm, Holland Village has lost much of its former character amid a leaner commercial landscape. The departure of many familiar names (think Bynd Artisan, Thambi Magazine Store, and Crystal Jade La Mian Xiao Long Bao) has not only dimmed Holland Village’s once-vibrant identity, but has also left long-time visitors with a deep yearning for the past.

Yet, new additions in recent years, like One Holland Village and its accompanying residences, have breathed fresh life into the area. This raises the question: Where will this distinctive neighbourhood go from here?

Holland Village is no stranger to change

Source: Google Maps, ERA Research and Market Intelligence

Bounded by Holland Road and Holland Avenue, Holland Village mostly comprises of shophouse rows and low-rise malls featuring an eclectic mix of businesses, anchored by Holland Village Market & Food Centre at its heart.

While this is the Holland Village that so many have grown to know (and love), this current identity is just but the latest chapter in its ongoing evolution.

Long before becoming a beloved enclave, Holland Village started life as a recreational neighbourhood for British soldiers in the 1930s. Also, during this time, the areas surrounding Holland Village were primarily occupied by crop plantations and a Chinese cemetery; both remained until their respective plots were acquired for redevelopment in the 1960s.

Subsequently, with more military housing built in the 1960s, Holland Village’s community continued to flourish. Alongside it came pubs, tailors, and other westerner-centric businesses, ultimately solidifying the area’s reputation as an expatriate neighbourhood.

Within the next decade, however, a stronger Singaporean presence gradually took shape in Holland Village. This was mainly due to the completion of Buona Vista’s first HDB estate in 1972, as well as Holland Road Shopping Centre, which helped local communities and businesses to stay rooted.

By the 2000s, this liveability was cemented with the opening of Holland Village MRT station. As part of the Circle Line, it continues to connect Holland Village residents to key destinations and business districts today, from HarbourFront to Marina Bay.

What’s happening at Holland Village recently? Also, what’s next?    

As of late, Holland Village has welcomed a new wave of retail and dining options at One Holland Village, its latest mixed-use development. The project was jointly developed by Far East Organisation, Sekisui Group, and Sino Group, and it has breathed new life into the neighbourhood with family- and pet-friendly concepts since opening in December 2023.

Notable tenants include Surrey Hills Grocer’s first pet-friendly flagship outlet, a Mini Pitstop (formerly Mini Cooper) showroom, and contemporary Japanese bistro Ginkyo. Familiar names like Cold Storage and Guardian have also opened outlets at One Holland Village, enhancing everyday convenience for residents.

One Holland Village (Source: Far East Organisation, Sekisui House, Sino Group)

Simply put, there are now new reasons to visit, or even settle down in, Holland Village. But perhaps, the most essential factor of all is the availability of new housing options in the neighbourhood. As recently as 2019, private homebuyers were presented with One Holland Village Residences, which features 296 units across one- to four-bedroom configurations.

While One Holland Village Residences has since sold out as of March 2025, more options are on the horizon for homebuyers targeting HDB flats and condo offerings in the area.

Holland Drive GLS site location (Source: URA, ERA Research and Market Intelligence)

Under the 1H 2024 Government Land Sales (GLS) programme, yet another private residential site was launched for sale at Holland Drive in February. It was subsequently awarded to a consortium comprising Capitaland Development, UOL Group, Singapore Land Group and Kheng Leong Co. As it stands, future plans for the plot point towards it being launched as Skye at Holland in 4Q 2025.

Source: HDB, ERA Research and Market Intelligence

Table 1: Subscription rates for Holland Vista, as of 26 June 2025

Source: HDB, ERA Research and Market Intelligence

On the public housing front, some 300 Build-to-Order (BTO) flats were launched under the Holland Vista project during June 2024’s balloting exercise. Featuring 2-room Flexi and 4-room units, Holland Vista is a Prime location project built on the site of a former car park. Furthermore, demand for these BTO flats was clearly strong, as seen by the robust first and second-timer subscription rates across all unit types.

But most importantly, this outcome underscores present-day interest for homes in Holland Village – and for this reason alone, it’s worth taking a look at the neighbourhood’s price trajectory.

Unpacking the growth of Holland Village and its homes

Located in District 10, Holland Village shares its locale with Tanglin and Bukit Timah, which are two of Singapore’s most affluent neighbourhoods. This sense of prestige has in turn, led to an increase in property values in Holland Village.

Chart 1: Median unit prices for non-landed private properties (excluding ECs) in District 10

Source: URA, ERA Research and Market Intelligence

From 2015 up till August 2025, median unit prices for resale non-landed private properties in District 10 have increased overall by 43.7%, rising from $1,562 psf to $2,244 psf. This results in a modest yet steady annual growth rate of about 3.3% across this period.

Chart 2: Median unit prices for non-landed private properties (excluding ECs) in Queenstown

Source: URA, ERA Research and Market Intelligence

Such growth is also reflected in the Queenstown planning area, which Holland Village is a part of. Between 2015 up to August 2025, median unit prices there rose sharply by 78.2%, from $1,258 psf to $2,030 psf; this translates into an annualised growth rate of approximately 4.4%.

Chart 3: Rental performance of non-landed private properties (excluding ECs) in District 10

Source: URA, ERA Research and Market Intelligence

Similarly, within the rental segment, non-landed private homes in District 10 have seen steady growth. Since 2021, median rents have climbed 47.4%, from $3.52 psf to $5.19 psf. At the same time, rental volumes have held relatively stable, with between 1,700 and 2,500 contracts signed each quarter.

Source: URA, ERA Research and Market Intelligence

Beyond price growth and rental prospects, Holland Village’s future potential is also underpinned by its proximity to one-north – itself a fast-growing hub for several high-value industries, including biomedical, Science, Technology, Engineering, and Mathematics (STEM) and Information and Communications Technology (ICT).

In the Draft Master Plan 2025, URA has also announced plans to revitalise neighbourhoods within one-north. Among them is Dover-Medway in the Greater one-north area, which is set to be developed into a new estate. Moreover, it could see up to 6,000 public and private homes being built in total, alongside supporting amenities.

What other new developments will be coming to Holland Village?

Skye at Holland (Source: Capitaland Development, UOL Group, Singapore Land Group and Kheng Leong Co.)

Come 4Q 2025, Holland Village will welcome its newest private home offerings at Skye at Holland. Jointly developed by Capitaland Development, UOL Group, Singapore Land Group and Kheng Leong Co., this project will feature approximately 666 units across two- to five- bedroom configurations.

Furthermore, being just a five-minute walk from Holland Village MRT station and near One Holland Village, Skye at Holland is poised to carry its namesake neighbourhood past its crossroads, bringing new homes and residential convenience to the area. So, will you experience the next chapter in Holland Village’s story?