Orchard Sophia Hits New Low 2629 Psf
Orchard Sophia, a luxurious freehold development situated in the sought-after District 9, has recently set a new record for the lowest price per square foot (psf) during the week of August 29 to September 5. This achievement was made possible by 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 transaction marks the second consecutive week that Orchard Sophia has set a new record for the lowest psf price. Just the week before, a 646 sq ft, two-bedroom unit was sold for approximately $1.72 million ($2,671 psf) on August 26.
Orchard Sophia, located along Sophia Road, consists of 78 units and is expected to be completed in 2027. It comprises two five-storey residential blocks with a mix of one- to two-bedroom units ranging from 441 sq ft to 710 sq ft. The development also offers three three-bedroom units measuring 764 sq ft and five three-bedroom dual-key units ranging from 829 sq ft to 840 sq ft.
Interested buyers can look up the latest New Launches for up-to-date information on transaction prices and available units.
Orchard Sophia was launched for sale in August 2023, with a total of 31 units sold at an average price of $2,819 psf. The following year, 13 units were sold at an average price of $2,880 psf. However, the average transacted prices this year have declined to $2,782 psf, based on the 20 sales recorded so far.
To date, 64 units (82%) have been sold at Orchard Sophia, with prices ranging from $2,629 psf to $3,027 psf.
On the other hand, Amo Residence took the top spot for the highest psf price for condos during the period under review. This was achieved by 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 record of $2,515 psf.
The seller had previously bought the unit in July 2022 for around $2.43 million ($2,131 psf), resulting in a gain of $439,000.
This latest transaction marks the third sub-sale at the development and surpasses the previous record of $2,472 psf. This was achieved by the sub-sale of a 958 sq ft, three-bedroom unit for $2.37 million on August 19.
The most expensive unit at Amo Residence is a 2,457 sq ft, five-bedroom penthouse that was sold for around $6.01 million during the VIP preview of the development in July 2022.
Slated for completion in 2026, Amo Residence is a 372-unit development located on Ang Mo Kio Rise in District 20. It features one- to five-bedroom units ranging from 614 sq ft to 1,475 sq ft, as well as two four-bedroom penthouses measuring 2,293 sq ft and one five-bedroom penthouse of 2,497 sq ft.
Parktown Residence, a brand new development, has found its home in the bustling neighbourhood of Tampines. This project, a collaboration between UOL Group, Capitaland and SingLand, has secured a prime location along Tampines Avenue 11. Out of the three bidders, the consortium comprising UOL Group, Singapore Land (SingLand), and CapitaLand Development emerged victorious with a bid of $1.206 billion, which translates to $885 per square foot per plot ratio (psf ppr). This highly coveted development can be found at Parktown Residence Condo, making it the perfect choice for those looking for a prime address within the heart of Tampines.
Located just off Ang Mo Kio Avenue 1, the development is within a five-minute walk from Mayflower MRT Station and in close proximity to Bishan-Ang Mo Kio Park and Lower Peirce Reservoir Park. Two popular schools, CHIJ St Nicholas’ Girls School and Ai Tong School, are also located within a 1km radius of the development.
During the same period, Hillhaven also recorded a new psf price peak with the sale of a 700 sq ft, two-bedroom unit for around $1.74 million ($2,482 psf) on August 29. This psf price is slightly higher than the previous record of $2,471 psf, achieved on June 30 when a similar 700 sq ft unit was sold for around $1.73 million.
Launched in January 2024, Hillhaven is a 341-unit, 99-year leasehold development situated along Hillview Rise in District 23. It comprises two residential towers standing at 27 and 28 storeys tall, offering a mix of two- to four-bedroom units ranging from 678 sq ft to 1,636 sq ft.
To date, the development has recorded 59 transactions this year at an average price of approximately $2,167 psf, based on caveats lodged.