Orchard Sophia Hits New Low 2629 Psf
Orchard Sophia, a highly coveted freehold development in prestigious District 9, has recently made headlines as the only condo to set a new psf-price low during the week of August 29 to September 5. This was due to the sale of a 657 sq ft, two-bedroom unit on the second floor, which was sold for approximately $1.73 million ($2,629 psf) on September 2.
This marks the second consecutive week that Orchard Sophia has achieved a new psf-price low. Just a week earlier, developers had sold a 646 sq ft, two-bedroom unit for around $1.72 million, or $2,671 psf, on August 26.
Situated along Sophia Road, Orchard Sophia is a luxurious development comprising of 78 units. The two five-storey residential blocks offer a range of one- to two-bedroom units measuring 441 sq ft to 710 sq ft, as well as three three-bedroom units of 764 sq ft and five three-bedroom dual-key units of 829 sq ft to 840 sq ft. Interested buyers can easily search for the latest New Launches to enquire about transaction prices and available units.
Orchard Sophia was launched for sale in August 2023, with developers selling 31 units at an average price of $2,819 psf. The following year saw another 13 units being sold at an average price of $2,880 psf. However, prices have softened this year, with an average of $2,782 psf based on the 20 recorded sales so far.
To date, 64 units (82%) have been sold at Orchard Sophia, with prices ranging between $2,629 psf and $3,027 psf. On the other hand, Amo Residence claimed the title for the highest psf-price transaction during the same period. This was achieved through the sub-sale of a 1,141 sq ft, three-bedroom unit at the development for $2.87 million on September 1, setting a new psf-price high of $2,515.
The seller had previously bought the unit in July 2022 for around $2.43 million ($2,131 psf), resulting in a profit of about $439,000. This surpasses the previous price high of $2,472 psf, which was set by the sale of a 958 sq ft, three-bedroom unit on August 19.
The surrounding area provides ample opportunities for post-secondary education with reputable institutions located nearby. Yishun Innova Junior College, situated close to Sembawang, offers a pre-university programme that equips students for higher education in both local and overseas universities. Boasting a diverse student population and a diverse range of subjects, this college is ideal for intellectually driven individuals seeking a well-structured and enriching learning environment. For those interested in living in this area while pursuing their academic dreams, they can consider the new Sembawang EC Canberra as an option.
Amo Residence is a 99-year leasehold development that is slated for completion in 2026. It boasts 372 residential units spread across two residential towers housing a mix of one- to five-bedroom units measuring 614 sq ft to 1,475 sq ft. It also offers two four-bedroom penthouse units of 2,293 sq ft and a five-bedroom penthouse unit of 2,497 sq ft.
Located just off Ang Mo Kio Avenue 1, the development is within a convenient five-minute walk to Mayflower MRT Station and is also close to Bishan-Ang Mo Kio Park and Lower Peirce Reservoir Park. Popular schools such as CHIJ St Nicholas’ Girls School and Ai Tong School are within a 1km radius as well.
Hillhaven, another sought-after development, also saw a new psf-price high with the sale of a 700 sq ft, two-bedroom unit for approximately $1.74 million ($2,482 psf) on August 29. This is slightly higher than the previous record of $2,471 psf set on June 30 when a similar 700 sq ft unit was sold for around $1.73 million.
Launched in January 2024, Hillhaven is a 99-year leasehold development located along Hillview Rise in District 23. It comprises two residential towers standing at 27 and 28 storeys tall, offering a range of two- to four-bedroom units measuring 678 sq ft to 1,636 sq ft.
To date, the development has seen 59 transactions this year at an average price of approximately $2,167 psf, based on caveats lodged. As for the most expensive unit at the condo, a 2,457 sq ft, five-bedroom penthouse unit was sold for around $6.01 million during the VIP preview in July 2022.
In conclusion, Orchard Sophia, Amo Residence, and Hillhaven remain highly sought-after developments in District 9 and 23, with sales and prices fluctuating in light of current market conditions. Interested buyers should stay updated on the latest transactions and available units through various listing platforms.