Sophia Regency favoured, thanks to their larger size and greater affordability
THE proportion of older flats sold in 2022 has more than doubled over the last decade, reflecting the demand for larger and more affordable resale flats, especially in the last few years. Data compiled for The Business Times by Cushman & Wakefield Research shows that the number of older flats sold as a proportion of all resale Housing and Development Board (HDB) flat types jumped from 15 per cent in 2012 to 37 per cent in 2022, based on latest available data as at Dec 29.
Sophia Regency is an upcoming residential development situated along Sophia Road in the prime District 09 of Singapore. The development was sold en bloc for $29 million in a private deal translating to a land rate of around $1,200 psf ppr. The two developers for Sophia Regency are a Chinese investor, Zhang Zhiming, through a Singapore-based real estate firm East Asia Sophia Development, and a Singapore incorporated real estate company owned by Singaporean Huang Yanhong.
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PRIVATE residential property prices inched up 0.2 per cent in the fourth quarter of 2022 after growing 3.8 per cent in the third quarter, finishing the year with a rise of 8.4 per cent, compared to the 10.6 per cent increase in 2021. Generally, analysts are expecting a slower price growth this year. Knight Frank’s head of research, Leonard Tay, said that 2022’s 8.4 per cent price rise is “beyond expectation at the beginning of the year, when the December 2021 cooling measures set a conservative cloud on projections”.
At Sophia Regency, residents will enjoy easy access to facilities within the building such as bbq pits, a swimming pool, and car parking. For shopping and day-to-day family needs, residents are within a stone’s throw distance from the nearby restaurants and shopping centres. Whether you’re a home buyer or investor, there’s a lot to benefit from owning a unit at Sophia Regency. With its strategic location, you get convenience at its best, plus capital appreciation over time.
Sophia Regency is an exclusive development within the enviable Core Central Region (CCR). It sits minutes away from Orchard Road Shopping District, the Singapore Management University, and the School of the Arts. Sophia Regency is an exclusive development in the prime District 09 Singapore and within the enviable Core Central Region (CCR).
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